Brighter lamb outlook in Australia
Hundreds of Australian farmers have been on the brink of going broke for several years. The drought has been long and hard in some areas so it is amazing that the Australian lamb industry has survived and that farming there is about to improve.
Despite being plagued by drought throughout most of 2007, the Australian lamb industry showed remarkable resilience last year and should be rewarded with a much brighter 2008.
The prospect for good seasonal conditions in 2008, combined with tighter lamb supplies and strong demand, signals the possibility of higher prices and incomes to lamb producers in the year ahead, according to Meat & Livestock Australia's 2008 Cattle and Sheep Industry Projections, released today.