a federal government deficit of around DS$163 billion in DS financial year. 2006 07 ..... motive fuel, domestic holiday travel and accommodation, and deposit and loan facilities. ...... jharkhand. 4 000
PdbcaP[XP]R^\\^SXcXTb \PaRW`dPacTa'
_^bcP[PSSaTbb V_^Q^g $%" RP]QTaaP !% PdbcaP[XP bfXcRWQ^PaS % !%!&!!
PQPaTXbP_a^UTbbX^]P[[hX]ST_T]ST]c V^eTa]\T]cTR^]^\XRaTbTPaRWPVT]Rh TSXc^aP]SaTffaXVWc PQPaT_a^YTRc %" 2^\\^]fTP[cW^U0dbcaP[XP!' BT[TRcTS_PbbPVTbcPQ[TbP]SSXPVaP\b\PhQT aT_a^SdRTS_a^eXSTSSdTPRZ]^f[TSV\T]cXb\PST
8BB= "! &'##
contents
economic overview outlook for australia’s commodity sector
australian agriculture – opportunities and challenges in the medium term
5 21 25
commodity outlook grains – wheat, coarse grains, oilseeds sugar wine grapes and wine wool cotton meat – beef and veal, sheep meat, pig meat, poultry dairy fish and seafood
energy and minerals – key isues for the medium term energy oil and gas thermal coal uranium
metals steel and steel making raw materials gold aluminium and alumina nickel copper zinc
30 49 56
64 70
76 88 99
112 118 118 132 140 148 148 161 167 174 182 189
articles global integrated assessment model – a new analytical tool to assess climate change risks and policies
195
abare: don.gunasekera, melanie.ford, edwina.heyhoe, andrew.gurney, helal.ahammad csiro: steven phipps, ian harman, john finnegan, markus brede
agricultural trade – the changing environment for trade policy and agricultural prices
217
ivan.roberts, phantipa.puangsumalee and jammie.penm
productivity growth australian broadacre and dairy industries
236
shiji.zhao, katarina.nossal, phil.kokic and lisa.elliston
farm financial performance – australian farm income and drought recovery, 2005-06, 2006-07 and 2007-08
243
stephen.hooper, dale.ashton, sarah.crooks, daniel.mackinnon, panos.nicols and paul.phillips
murray darling basin economic implications of water scarcity
265
tim.goesch, simon.hone, ahmed.hafi, sally.thorpe, kenton.lawson, sharon.page, neal.hughes and peter.gooday
statisical tables abare contacts australian commodities • vol 15 no. 1 • march quarter 3
283 320
TR^]^\XR^eTaeXTf _a^b_TRcbU^af^a[STR^]^\XRVa^fcW!'c^! " YP\\XT_T]\P]S\PaX]PZX\
F^a[STR^]^\XRVa^fcWXbPbbd\TSc^STR[X]Tc^#_TaRT]cX]!'Ua^\ P]TbcX\PcTS#(_TaRT]cX]!&QTU^aTaTR^eTaX]Vc^#"_TaRT]cX]!( >eTacWT\TSXd\cTa\!(c^! "f^a[STR^]^\XRVa^fcWXbPbbd\TS c^PeTaPVTPa^d]S#!_TaRT]cPhTPa 3Tb_XcTP]Pbbd\TSb[^fS^f]X]TR^]^\XRVa^fcWX]cWTD]XcTSBcPcTbX] !'R^]cX]dTSbca^]V_TaU^a\P]RTX]cWTT\TaVX]V\PaZTcTR^]^\XTbXb Tg_TRcTSc^_a^eXSTbd__^acU^af^a[STR^]^\XRVa^fcW 4R^]^\XRVa^fcWX]0dbcaP[XPXbPbbd\TSc^QT#!$_TaRT]cX]!&' P]S"$_TaRT]cX]!'(1TcfTT]!'(P]S! ! "0dbcaP[XP] TR^]^\XRVa^fcWXbPbbd\TSc^PeTaPVTPa^d]S" _TaRT]cPhTPa
f^a[STR^]^\XR^dc[^^Z TR^]^\XRVa^fcWfPbbca^]VX]!& 6[^QP[TR^]^\XRVa^fcWfPbaT[PcXeT[hbca^]VX]!&CWXbfPbSTb_XcT bXV]XUXRP]cR^]RTa]bPQ^dcUX]P]RXP[\PaZTce^[PcX[XchbcT\\X]VUa^\cWT _a^Q[T\bX]cWTbdQ_aX\T\^acVPVT\PaZTcX]cWTD]XcTSBcPcTbP]SbWPa_[h WXVWTaf^a[S^X[_aXRTbX]cWTbTR^]SWP[U^UcWThTPa8]cWTf^a[Sºb[PaVTbc TR^]^\hcWTD]XcTSBcPcTbTR^]^\XRVa^fcWb[^fTSbWPa_[hX][PcT!& Pb^]V^X]VSXUUXRd[cXTbX]cWTW^dbX]V\PaZTcPSeTabT[hPUUTRcTSaTbXST]cXP[ X]eTbc\T]cTg_T]SXcdaTP]SR^]bd\Tab_T]SX]V 8]2WX]Pbca^]VTR^]^\XRPRcXeXchR^]cX]dTSfXcWVa^fcW^U #_TaRT]cX] !&CWXbfPbPRWXTeTSSTb_XcTP]d\QTa^U\TPbdaTbcPZT]QhcWT2WX]TbT 6^eTa]\T]cc^b[^fTR^]^\XRVa^fcWX]R[dSX]VbXgX]cTaTbcaPcTaXbTbP]S cT]X]RaTPbTbX]QP]ZaTbTaeTaPcX^bSdaX]V!& 8]9P_P]TR^]^\XRTg_P]bX^]R^]cX]dTSfXcWVa^bbS^\TbcXR_a^SdRc aXbX]VX]aTP[cTa\bQhP]TbcX\PcTS (_TaRT]cX]!&8]fTbcTa]4da^_T TR^]^\XRVa^fcWX]P]d\QTa^UaTVX^]P[TR^]^\XTbX]R[dSX]V6Ta\P]h P]S5aP]RTaT\PX]TSaT[PcXeT[hbca^]VX]!&2^]bXSTaPQ[TR^]RTa]b ]TeTacWT[TbbaT\PX]PQ^dccWTTR^]^\XR^dc[^^ZU^a9P_P]P]SfTbcTa] 4da^_TPbcWT_TaU^a\P]RT^UcWTbTTR^]^\XTbR^d[SQTPSeTabT[h PUUTRcTSQhTR^]^\XRfTPZ]TbbX]cWTD]XcTSBcPcTb
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa$
TR^]^\XR^eTaeXTf
f^a[STR^]^\XRVa^fcW $
#
8]^cWTa_Pacb^UcWTf^a[STR^]^\XRVa^fcWaT\PX]TSaT[PcXeT[hbca^]V 7XVWf^a[S_aXRTbU^aT]TaVhP]S\X]TaP[R^\\^SXcXTb_a^eXSTSbd__^ac U^aTR^]^\XRPRcXeXchX];PcX]0\TaXRPRT]caP[0bXPP]ScWTRc^QTaµBT_cT\QTaR^\_PaTSfXcWPSTUXRXc^UDB!#'QX[[X^] X]!$%0bP_TaRT]cPVT^UVa^bbS^\TbcXR_a^SdRccWTQdSVTcSTUXRXc fPbPa^d]S !_TaRT]cX]DBUX]P]RXP[hTPa!%&R^\_PaTSfXcW (_Ta RT]cX]!$% 3Tb_XcTPcT\_^aPahX]RaTPbTX]cWTUXbRP[STUXRXcc^bcX\d[PcTVa^fcWX] S^\TbcXRST\P]ScWTaTfX[[]TTSc^QTaT]TfTSTUU^acbc^R^]b^[XSPcT
!PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
TR^]^\XR^eTaeXTf
UXbRP[_^[XRhfWT]DBTR^]^\XRVa^fcWVaPSdP[[haTR^eTabX][PcTahTPab0] X\_a^eTSUXbRP[_^[XRhbcP]RTf^d[S_a^eXSTbd__^acU^aX]RaTPbTSbPeX]Vb X]cWTTR^]^\hR^]caXQdcX]Vc^P[^fTaX]V^UcWTcaPSTP]SRdaaT]cPRR^d]c X\QP[P]RTb^eTacWT\TSXd\cTa\>]cWT^cWTaWP]SXUcWTUXbRP[STUXRXc fTaTc^X]RaTPbT^eTacWT\TSXd\cTa\XcbTUUTRcb^]caPSTP]SRdaaT]c PRR^d]cbf^d[SR^]cX]dT
_a^b_TRcbV^^SU^aaP_XS[hVa^fX]VPbXP]TR^]^\XTb 3Tb_XcTaTRT]cUX]P]RXP[\PaZTce^[PcX[XchTR^]^\XRVa^fcWP__TPabc^WPeT aT\PX]TSQd^hP]cX]]^]>4230bXPcWPcXb0bXPTgR[dSX]V9P_P]P]ScWT AT_dQ[XR^U:^aTPP[cW^dVWcWTfTPZTa^dc[^^ZU^acWT>423TR^]^\XTb Xb[XZT[hc^b[^faTVX^]P[Tg_^acVa^fcW5^aTgP\_[TTg_^acbPRR^d]cU^a Pa^d]SPcWXaS^U2WX]PºbVa^bbS^\TbcXR_a^SdRc^UfWXRWPQ^dc!!_Ta RT]cPaTb^[Sc^cWTD]XcTSBcPcTbCWXbX\_[XTbcWPcbXV]XUXRP]cU[dRcdPcX^]b X]TgcTa]P[ST\P]S_PacXRd[Pa[hUa^\cWTD]XcTSBcPcTbPaT[XZT[hc^_dc S^f]fPaS_aTbbdaT^]2WX]PºbTg_^ac_TaU^a\P]RTP]SQa^PSTaTR^]^\XR Va^fcW 8]PVVaTVPcTcWTVa^fcW^dc[^^ZU^acWTaTVX^]aT\PX]b_^bXcXeT5^a]^] >4230bXPPbPfW^[TTR^]^\XRVa^fcWXbPbbd\TSc^PeTaPVT&%_TaRT]c X]Q^cW!'P]S!(R^\_PaTSfXcWP]TbcX\PcTS'&_TaRT]cX]!& >eTacWT\TSXd\cTa\TR^]^\XRVa^fcWX]]^]>4230bXPXbPbbd\TSc^ PeTaPVTPa^d]S& _TaRT]cPhTPa 6a^fcWX]2WX]PXbPbbd\TSc^QT(&_TaRT]cX]!'P]S($_TaRT]cX] !(fWX[TcWT8]SXP]TR^]^\hXbPbbd\TSc^Tg_P]SQh'_TaRT]cX] !'P]S'"_TaRT]cX]!(CWTTR^]^\XTb^Ub^dcWTPbc0bXPPaT[XZT[h c^QTcWT\^bcPUUTRcTSQhfTPZTaTR^]^\XRVa^fcWX]cWTD]XcTSBcPcTb 4R^]^\XRVa^fcWX]b^dcWTPbc0bXPXbPbbd\TSc^QT$!_TaRT]cX]!' QTU^aTaTR^eTaX]V\PaVX]P[[hc^$$_TaRT]cX]!( 0ccWXbbcPVTaXbZbc^cWTaTVX^]P[TR^]^\XR^dc[^^ZPaTQa^PS[hQP[P]RTS >]cWTS^f]bXSTb[^fTaST\P]SU^aTg_^acbT[TRca^]XRV^^SbX]_PacXRd[Pa Ua^\]^]>4230bXPP]S_^bbXQ[Tb_X[[^eTabUa^\V[^QP[UX]P]RXP[\PaZTc X]bcPQX[XchPaT^U_PacXRd[PaR^]RTa]>]cWTd_bXSTcWTPbbd\TSTR^]^\XR b[^fX]VX]2WX]P\Ph]^cTeT]cdPcTPbTR^]^\XRVa^fcWX]2WX]PX]aTRT]c hTPabWPbR^]bXbcT]c[h^dc_TaU^a\TSTg_TRcPcX^]b4R^]^\XRVa^fcWX] 8]SXPR^d[SP[b^QTbca^]VTacWP]Pbbd\TS_PacXRd[Pa[hXUa^QdbcR^a_^aPcT _a^UXcbUdacWTaQ^^bcX]eTbc\T]cb_T]SX]V
^TRSTR^]^\XRVa^fcW " !$ ! $ $
_a^b_TRcbU^abdbcPX]TSTR^]^\XRVa^fcWX]RWX]P 2WX]PºbX\_^acP]RTX]f^a[SR^\\^SXch\PaZTcbWPbX]RaTPbTS\PaZTS[hX] cWT_PbcSTRPST5^a\P]hR^\\^SXcXTb2WX]PºbX\_^acST\P]SWPbaXbT] bXV]XUXRP]c[h[TPSX]Vc^PbdQbcP]cXP[X]RaTPbTX]XcbbWPaT^Uf^a[ScaPST FXcWaP_XSX]SdbcaXP[XbPcX^]P]ScWTaT[^RPcX^]^Ub^\T\P]dUPRcdaX]V
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa "
!%
!&
fTbcTa]Tda^_T YP_P] d]XcTSbcPcTb
!'
!(µ "
TR^]^\XR^eTaeXTf
c^2WX]PUa^\STeT[^_TSR^d]caXTbcWTX\_^acP]RT^U2WX]PX]f^a[S R^\\^SXch\PaZTcbRP]QTTg_TRcTSc^R^]cX]dTc^X]RaTPbTX]cWTU^aTbTT PQ[TUdcdaT 8\_^acP]c[h_Ta_Tab^]X]R^\TbWPeTQTT]aXbX]Vbca^]V[hX]2WX]P[TPSX]V c^PR^]bXSTaPQ[TX]RaTPbTX]R^]bd\TaST\P]S0RR^aSX]Vc^cWT2WX]TbT 0RPST\h^UB^RXP[BRXT]RT20BB2WX]Pºb\XSS[TX]R^\TR[PbbVaTfUa^\ Pa^d]S $_TaRT]c^UcWT_^_d[PcX^]X] (((c^Pa^d]S (_TaRT]cX]!" 2WX]Pºb\XSS[TX]R^\TR[PbbRP]QTSTUX]TSPbfT[[TSdRPcTS_a^UTbbX^]P[b fXcWP]]dP[X]R^\Tb^U!$µ"hdP]^aDB" !$µ"&$20BB _a^YTRcbcWPc2WX]Pºb\XSS[TX]R^\TR[PbbfX[[X]RaTPbTc^Pa^d]S#_Ta RT]c^Ub^RXTch^aPa^d]S$'&\X[[X^]_T^_[TQh!!BdRWP]X]RaTPbTXUXc XbPRWXTeTSfX[[[TPSc^UdacWTaVa^fcWX]R^]bd\TaST\P]SX]2WX]P 2^]cX]dTSbca^]VTR^]^\XRVa^fcWX]SdbcaXP[XbPcX^]P]SdaQP]XbPcX^]X] 2WX]PPaT_dccX]V_aTbbdaT^]S^\TbcXRaTb^daRTbCWXbWPbcWT_^cT]cXP[c^ \PZT2WX]PPbcaPcTVXRP[[hX\_^acP]c_[PhTaX]V[^QP[\PaZTcbP]Sc^_a^eXST X]RaTPbTSTg_^ac^__^acd]XcXTbU^a0dbcaP[XPºbR^\\^SXchX]SdbcaXTb 8]_aT_PaX]VcWXbbTc^UR^\\^SXch_a^YTRcX^]bTR^]^\XRVa^fcWX]2WX]PXb Pbbd\TSc^PeTaPVTPa^d]S'%_TaRT]cPhTPaQTcfTT]!(P]S! " 2WX]Pºbbca^]VcaPSTP]STR^]^\XR_TaU^a\P]RTWPbaTbd[cTSX]X]RaTPbTS X]cTa]PcX^]P[_aTbbdaTU^aPbdQbcP]cXP[aTeP[dPcX^]^U2WX]PºbRdaaT]Rh 3Tb_XcTcWTRWP]VT^U2WX]PºbU^aTXV]TgRWP]VTaTVX\TUa^\QTX]V¹_TVVTSº c^cWTDBS^[[Pac^Pb^RP[[TS¹\P]PVTSºU[^PcX]9d[h!$X]cTa]PcX^]P[ _aTbbdaTbU^a2WX]Pc^UdacWTaaTeP[dTXcbRdaaT]RhWPeTX]cT]bXUXTS2aXcXRb WPeT\PX]cPX]TScWPccWT¹\P]PVTSºU[^PcWPbUPX[TSc^^_TaPcTTUUTRcXeT[h
TR^]^\XRVa^fcWX]PbXP ! ' % # ! cWPX[P]S
X]S^]TbXP
!% !& !' !(µ "
\P[PhbXP _WX[X__X]Tb bX]VP_^aT
RWX]P
Z^aTP aT_^U
#PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
RWX]TbT cPX_TX
TR^]^\XR^eTaeXTf
fXcWcWTeP[dT^U2WX]PºbRdaaT]RhP__aTRXPcX]V^][hVaPSdP[[hbX]RTXcb X]ca^SdRcX^]2WX]PºbRdaaT]RhfPbcaPSX]VPa^d]S& (hdP]PVPX]bccWTDB S^[[PaX]\XS5TQadPah!'CWXbR^\_PaTbfXcW' hdP]PVPX]bccWTS^[[Pa X]9d[h!$ 0\^eTQh2WX]Pc^fPaSVaTPcTaTgRWP]VTaPcTU[TgXQX[Xchf^d[SWPeTc^QT bd__^acTSQhPR^]cX]dPcX^]^UR^\_[T\T]cPahUX]P]RXP[bTRc^aaTU^a\ fWXRWf^d[SbcaT]VcWT]cWTTR^]^\hºbRP_PRXchc^R^_TfXcWVaTPcTa X]cTaTbcaPcTP]STgRWP]VTaPcTe^[PcX[Xch0bXV]XUXRP]cP__aTRXPcX^]^U 2WX]PºbRdaaT]Rhf^d[SX]RaTPbTW^dbTW^[Sbº_daRWPbX]V_^fTaP]ScaP]b [PcTc^WXVWTaS^\TbcXRR^]bd\_cX^]CWXb\PhWT[_aTSdRT2WX]Pºb[PaVT caPSTbda_[dbP]Sb^\T^UcWTPSeTabTRaXcXRXb\PQ^dccaPSTX\QP[P]RTb Ua^\cWTD]XcTSBcPcTb
S^f]bXSTaXbZbc^TR^]^\XRVa^fcWX]RWX]P CWTX\_aTbbXeTVa^fcWX]2WX]PºbTR^]^\hX]aTRT]chTPabWPbQTT]SaXeT] X][PaVT_PacQhbdQbcP]cXP[Va^fcWX]UXgTSPbbTcX]eTbc\T]cP]STg_^acb CWTaPcX^^UUXgTSPbbTcX]eTbc\T]cc^Va^bbS^\TbcXR_a^SdRcWPbQTT]WXVW P]SaXbX]V¶c^X]TgRTbb^U#_TaRT]cX]aTRT]chTPabCWTTgRT_cX^]P[[h WXVWVa^fcWX]UXgTSPbbTcX]eTbc\T]cWPb[TSc^R^]bXSTaPQ[TR^]RTa]PQ^dc cWT_^bbXQX[Xch^UP]X]eTbc\T]cQ^^\µQdbcRhR[TX]2WX]PPbaP_XSVa^fcW X]X]eTbc\T]cR^d[S[TPSc^^eTaRP_PRXchUP[[X]V_a^UXcbP]SQP[P]RTbWTTc _a^Q[T\bX]cWTR^a_^aPcTP]SUX]P]RXP[bTRc^ab 2WX]PºbaT[XP]RT^]Tg_^ac_TaU^a\P]RTc^bd__^acTR^]^\XRVa^fcWWPb P[b^aPXbTSR^]RTa]PQ^dcXcbed[]TaPQX[Xchc^d]Tg_TRcTSRWP]VTbX]cWT X]cTa]PcX^]P[TR^]^\XRT]eXa^]\T]c2WX]PºbVa^fX]VcaPSTbda_[dbP[b^ aPXbTbcWT_a^b_TRc^UP_a^cTRcX^]XbcQPRZ[PbWX]cWTD]XcTSBcPcTbP]S ^cWTaX\_^acP]c\PaZTcbU^a2WX]PºbTg_^acb C^bdbcPX]aP_XSTR^]^\XRVa^fcW2WX]P]TTSbc^aTQP[P]RTcWTb^daRTb^U TR^]^\XRVa^fcW\^aTc^fPaSS^\TbcXRR^]bd\_cX^]8]2WX]PcWTaPcX^ ^UW^dbTW^[SR^]bd\_cX^]c^Va^bbS^\TbcXR_a^SdRcXbPa^d]S#_Ta RT]cCWXbXbR^]bXSTaPQ[h[^fTacWP]X]\^bcSTeT[^_TSR^d]caXTbX]R[dSX]V cWTD]XcTSBcPcTbPa^d]S&_TaRT]ccWTD]XcTS:X]VS^\%%_TaRT]c P]S9P_P]$%_TaRT]c 2WX]PºbaPcX^^UR^]bd\_cX^]c^Va^bbS^\TbcXR_a^SdRcXbP[b^[^fTacWP] X]\P]hT\TaVX]V\PaZTcTR^]^\XTbbdRWPb1aPiX[$$_TaRT]c8]S^ ]TbXP%$_TaRT]cP]ScWTAdbbXP]5TSTaPcX^]#&_TaRT]cCWXb[PaVT[h aTU[TRcbPWXVW[TeT[^U_aTRPdcX^]PahW^dbTW^[SbPeX]Vbc^R^\_T]bPcTU^a P_^^a[hSTeT[^_TSb^RXP[bTRdaXchbhbcT\X]2WX]PFWX[TVa^fcWX]_aXePcT R^]bd\_cX^]X]2WX]PWPbPeTaPVTSPa^d]S'_TaRT]cPhTPabX]RTcWTTPa[h ((bXcXbfTPZTacWP]2WX]PºbPeTaPVTTR^]^\XRVa^fcW^UPa^d]S _Ta RT]cPhTPa^eTacWTbP\T_TaX^S
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa $
TR^]^\XR^eTaeXTf
2WX]PºbTR^]^\XRbdRRTbbXb]^cVdPaP]cTTS2WX]PbcX[[aT`dXaTbbXV]XUXRP]c bcadRcdaP[aTU^a\Tb_TRXP[[hX]XcbUX]P]RXP[bTRc^a[TVP[bhbcT\P]SbcPcT ^f]TST]cTa_aXbTb8UbdRWaTU^a\RP]QTPRWXTeTS2WX]PfX[[QTPQ[Tc^ bdbcPX]WXVWTR^]^\XRVa^fcW^eTacWT\TSXd\c^[^]VTacTa\>cWTafXbT Q^cc[T]TRZbP]SRP_PRXchR^]bcaPX]cbfX[[T\TaVTP]STR^]^\XRVa^fcW X]2WX]PfX[[X]TeXcPQ[hb[^f5^aTgP\_[Tc^X]RaTPbT2WX]PºbW^dbTW^[S R^]bd\_cX^]PbP_a^_^acX^]^UVa^bbS^\TbcXR_a^SdRc_^[XRhX]XcXPcXeTb c^X\_a^eTX]R^\TSXbcaXQdcX^]fX[[QT]TRTbbPah 5XbRP[_^[XRhfX[[WPeTP\PY^aa^[TX]aTSdRX]Vd]RTacPX]cXTbPbb^RXPcTS fXcWcWT_a^eXbX^]^Ub^RXP[bTRdaXchP]SWTP[cWRPaTfWXRWRP]bdQbcP] cXP[[h[^fTa_aTRPdcX^]PahW^dbTW^[SbPeX]Vb1TccTa_a^SdRcbUa^\cWT X]bdaP]RTbTRc^afX[[WT[_W^dbTW^[Sbc^_^^[aXbZbP]S_a^eXST_a^cTRcX^] PVPX]bcPSeTabTbW^RZbbdRWPbY^Q[^bbTbP]S[PaVT\TSXRP[Tg_T]bTb
TR^]^\XRPRcXeXchX]YP_P]aT\PX]bfTPZ 4R^]^\XRVa^fcWX]9P_P]fTPZT]TSX]\XS!&0UcTaPR^]caPRcX^]^U$ _TaRT]cX]cWT9d]T`dPacTacWTTR^]^\h\TPbdaTSQhaTP[Va^bbS^\TbcXR _a^SdRca^bTQh^][h#_TaRT]cX]cWTBT_cT\QTa`dPacTa5^a!&PbP fW^[TTR^]^\XRPRcXeXchX]9P_P]XbTbcX\PcTSc^WPeTX]RaTPbTSQhPa^d]S (_TaRT]cCWXbR^\_PaTbfXcWVa^fcW^U!#_TaRT]cX]!% ;^^ZX]VU^afPaSaTRT]cbdaeThbX]SXRPcTcWPcR^]bd\TaP]SQdbX]Tbb bT]cX\T]c\PhWPeTfTPZT]TSP[cW^dVWaTRT]cSPcP^]S^\TbcXRST\P]S bdRWPbU^aW^dbTW^[SR^]bd\_cX^]WPeTQTT]\^aT\XgTS7^fTeTacWTaT XbR^]bXSTaPQ[TR^]RTa]cWPcaTRT]cV[^QP[UX]P]RXP[\PaZTce^[PcX[XchR^d[S PSeTabT[hPUUTRccWTTR^]^\XR^dc[^^ZU^a9P_P]TeT]cW^dVWcWTSXaTRc Tg_^bdaT^UcWT9P_P]TbTUX]P]RXP[bhbcT\c^cWTDBbdQ_aX\T\^acVPVT \PaZTcXb[X\XcTS ATU[TRcX]VcWTX]RaTPbTSd]RTacPX]chX]cWTTR^]^\XR^dc[^^ZTR^]^\XR Va^fcWX]9P_P]XbPbbd\TSc^STR[X]Tc^ !_TaRT]cX]!'QTU^aTP \PaVX]P[aTR^eTahc^Pa^d]S &_TaRT]cX]!(0ccWXbbcPVTcWTaXbZb c^9P_P]ºbTR^]^\XR^dc[^^ZP__TPacX[cTS\PaVX]P[[hc^cWTS^f]bXST 4R^]^\XRVa^fcWX]9P_P]R^d[SQTSP\_T]TSQhP_a^[^]VTSS^f]cda]X] cWTDBTR^]^\hWXVWTa^X[_aXRTbP]SPUdacWTaP__aTRXPcX^]^UcWT9P_P ]TbThT]PVPX]bccWTDBS^[[Pa 5dacWTaP]SSTb_XcTbTeTaP[hTPab^UTR^]^\XRVa^fcWSTU[PcX^]WPb]^c R^\_[TcT[hSXbP__TPaTSX]9P_P]0UcTaP_TaX^S^UaXbX]VR^]bd\Ta_aXRTb cWThTPa^]hTPaRWP]VTbX]cWTWTPS[X]TP]SR^aTR^]bd\Ta_aXRTX]STg cda]TS]TVPcXeTPVPX]X][PcT!&0VPX]bccWXbQPRZVa^d]ScWT1P]Z^U 9P_P]WPb\PX]cPX]TSP]PRR^\\^SPcX]V\^]TcPahbcP]RTZTT_X]VXcb ZThX]cTaTbcaPcTbcTPShPcPQ^dc$_TaRT]cbX]RTTPa[h!&0[cW^dVW X]cTaTbcaPcTbfX[[TeT]cdP[[h]TTSc^aTcda]c^WXVWTa[TeT[bbdRWX]RaTPbTb PaTd][XZT[hc^^RRdafXcW^dcR[TPabXV]bcWPcX]U[PcX^]XbaTcda]X]VP]ScWPc R^]RTa]b^eTaaTRT]cUX]P]RXP[\PaZTce^[PcX[XchWPeTfP]TS
%PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
TR^]^\XR^eTaeXTf
>eTacWT_PbcSTRPST9P_P]WPbX\_[T\T]cTSbXV]XUXRP]cUXbRP[bcX\d[db c^bd__^acTR^]^\XRVa^fcW9P_P]WPbcWT[PaVTbcUXbRP[X\QP[P]RTPb P_TaRT]cPVT^UVa^bbS^\TbcXR_a^SdRcX]STeT[^_TSR^d]caXTbfXcW _dQ[XRbTRc^aSTQcU^aTRPbcc^aTPRWPa^d]S '!_TaRT]c^UVa^bbS^\TbcXR _a^SdRcQhcWTT]S^U!'5XbRP[_^[XRhX]9P_P]R^]cX]dTbc^UPRT U^a\XSPQ[TRWP[[T]VTb8cX]e^[eTb]^c^][h`dTbcX^]bPQ^dccWTTgcT]c^U R^]cX]dTSbd__^acc^TR^]^\XRPRcXeXchQdcP[b^cWTQP[P]RTc^QTbcadRZ QTcfTT]bW^accTa\aT`dXaT\T]cbP]S\TSXd\cTa\R^]b^[XSPcX^] CWTTgcT]cc^fWXRW9P_P]XbPQ[Tc^aTcda]c^bdbcPX]TSTR^]^\XRVa^fcW ^eTacWT\TSXd\cTa\fX[[ST_T]S^]cWT_a^VaTbb^UTR^]^\XRaTU^a\b CWXbXbTb_TRXP[[hcWTRPbTfWT]PRR^d]cXbcPZT]^UcWT_aTbT]RT^UP] PVX]VP]SSTR[X]X]V_^_d[PcX^]8]cWTbTRXaRd\bcP]RTb9P_P]ºbb^daRT^U TR^]^\XRVa^fcW^eTacWT\TSXd\cTa\fX[[]TTSc^aT[hWTPeX[h^]_a^SdR cXeXchVa^fcWCWXbfX[[aT`dXaTbdQbcP]cXP[TR^]^\XRaTU^a\_PacXRd[Pa[h^U cWT]^]caPSTSbTRc^ac^X]RaTPbTcWTR^\_TcXcXeT]Tbb^UcWTTR^]^\hP]S bd__^acbdbcPX]TSTR^]^\XRVa^fcWB[^f_a^VaTbbX]bcadRcdaP[aTU^a\fX[[ aTbd[cX]fTPZ]TbbX]TR^]^\XR_TaU^a\P]RTP]SUdacWTa_aTbbdaT^]cWT R^d]cahºbUXbRP[_^bXcX^]4R^]^\XRVa^fcWX]9P_P]XbPbbd\TSc^\^STaPcT c^P]PeTaPVT^UPa^d]S &_TaRT]cPhTPaQTcfTT]!(P]S! "
TR^]^\XR_a^b_TRcbX]PdbcaP[XP 4R^]^\XRVa^fcWX]0dbcaP[XPaT\PX]TSbca^]VX][PcT!&fXcWaTP[Va^bb S^\TbcXR_a^SdRcX]RaTPbX]VbTPb^]P[[hPSYdbcTSQh _TaRT]cX]cWT BT_cT\QTa`dPacTaR^\_PaTSfXcW&_TaRT]cX]cWT9d]T`dPacTa0VaXRd[ cdaTU^aTbcahP]SUXbWX]VfPbcWT\^bcbXV]XUXRP]cR^]caXQdc^aX]bTPb^]P[[h PSYdbcTScTa\bPSSX]V#_TaRT]cPVT_^X]cbc^TR^]^\XRVa^fcWX]cWT BT_cT\QTa`dPacTa 0dbcaP[XPºbcaPSTPRR^d]cbTPb^]P[[hPSYdbcTSaTR^aSTSPSTUXRXc^UPa^d]S ##QX[[X^]X]cWTBT_cT\QTa`dPacTa!&R^\_PaTSfXcWPSTUXRXc^U"( QX[[X^]X]cWT9d]T`dPacTaCWTRdaaT]cPRR^d]cSTUXRXcbTPb^]P[[hPSYdbcTS fPbPa^d]S $%QX[[X^]X]cWTBT_cT\QTa`dPacTa!&[PaVT[hd]RWP]VTS Ua^\cWT9d]T`dPacTa ;^^ZX]VU^afPaSTR^]^\XRVa^fcWX]0dbcaP[XPXbTg_TRcTSc^aT\PX] aT[PcXeT[hbca^]VX]cWT]TgcUTf`dPacTab2^]cX]dTSbca^]VV[^QP[ST\P]S U^a0dbcaP[XPºbaTb^daRTTg_^acbfX[[_a^eXSTbd__^acU^aTR^]^\XRPRcXeXch B^[XSVa^fcWX]T\_[^h\T]cP]SfPVTbXbTg_TRcTSc^d]STa_X]aXbX]V R^]bd\Tab_T]SX]V 4R^]^\XRVa^fcWX]0dbcaP[XPXbPbbd\TSc^PeTaPVTPa^d]S#!$_TaRT]cX] !&'QTU^aTUP[[X]Vc^"$_TaRT]cX]!'(>eTacWT\TSXd\cTa\ cWT0dbcaP[XP]TR^]^\hXbPbbd\TSc^Va^fPcPaPcT^UPa^d]S"_TaRT]c PhTPa
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa &
TR^]^\XR^eTaeXTf
X]ÃPcX^] 0dbcaP[XPºbX]U[PcX^]Pah_aTbbdaTbX]RaTPbTSX][PcT!&fXcWcWTR^]bd\Ta _aXRTX]STgaXbX]VhTPa^]hTPaQh"_TaRT]cX]cWT3TRT\QTa`dPacTa R^\_PaTSfXcWPaXbT^U (_TaRT]cX]cWTBT_cT\QTa`dPacTa2^]caXQdcX]V \^bcc^cWTX]RaTPbTX]cWT3TRT\QTa`dPacTafTaTaXbTbX]cWTR^bc^UPdc^ \^cXeTUdT[S^\TbcXRW^[XSPhcaPeT[P]SPRR^\\^SPcX^]P]SST_^bXcP]S [^P]UPRX[XcXTb?PacXP[[h^UUbTccX]VcWTbTX]RaTPbTbfTaTUP[[bX]cWTR^bc^UUadXc P]SeTVTcPQ[Tb_WPa\PRTdcXRP[bP]SPdSX^eXbdP[P]SR^\_dcX]VT`dX_\T]c ;^^ZX]VU^afPaS^cWTa_aXRTX]STgTbaT[TPbTSaTRT]c[hbdVVTbccWPcX]ÃPcX^] Xb[XZT[hc^aT\PX]aT[PcXeT[hWXVWX]cWTbW^accTa\5^aTgP\_[TcWT_a^SdRTa _aXRTX]STgU^aÂ]P[R^\\^SXcXTbX]RaTPbTShTPa^]hTPaQh!'_TaRT]cX]cWT 3TRT\QTa`dPacTa!&R^\_PaTSfXcWPaXbT^U!#_TaRT]cX]cWTBT_cT\QTa `dPacTaFWX[TcWTS^\TbcXRR^\_^]T]cX]RaTPbTShTPa^]hTPaQh#!_Ta RT]ccWXbfPb^åbTcQhPSTR[X]T^U$#_TaRT]cX]cWTX\_^acbR^\_^]T]c 3Tb_XcTb^\T]TPacTa\_aTbbdaTbcWTX]U[PcX^]aPcTX]0dbcaP[XPXbTg_TRcTS c^\^STaPcT[PcTaX]cWT^dc[^^Z_TaX^S0dbcaP[XPºbX]U[PcX^]aPcTXbPbbd\TS c^QT!&$_TaRT]cX]!&'P]S!'(C^fPaS! ! "P]]dP[X]U[PcX^] X]0dbcaP[XPXbPbbd\TSc^\^STaPcTc^Pa^d]S!$_TaRT]c
bW^accTa\SXaTRcX^]^UcWTPdbcaP[XP]S^[[Pa
PdbcaP[XP]TR^]^\XRX]SXRPc^ab !
>eTacWT_PbccfT[eT\^]cWbcWT0dbcaP[XP]S^[[PaWPbP__aTRXPcTSbXV]XUX RP]c[hQ^cWPVPX]bccWTDBS^[[PaP]S^]PcaPSTfTXVWcTSQPbXbCWTeP[dT ^UcWT0dbcaP[XP]S^[[PaX]RaTPbTSUa^\DB&&RP]SCF8%#X]TPa[heTacWT
\TSXd\cTa\^dc[^^ZU^aPdbcaP[XPºbR^\\^SXchbTRc^ad]XcTg_^acaTcda]b
farm – real mineral resources – real energy minerals – real metals and other minerals – real total commodities – real
unit
2005 -06
2006 -07
2007 -08 s
2008 -09 f
2009 -10 f
2010 -11 f
index index index index index index index index index index
86.3 91.3 88.6 93.7 98.8 104.5 81.5 86.2 88.4 93.6
90.7 93.2 97.0 99.7 90.1 92.6 101.6 104.4 96.0 98.7
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
101.7 99.0 123.9 120.5 144.1 140.2 110.9 107.9 119.9 116.7
102.1 97.0 118.3 112.3 137.6 130.7 105.9 100.6 115.5 109.7
103.3 95.7 107.4 99.5 128.4 118.9 94.1 87.1 107.0 99.1
a Base: 2007-08 = 100. s ABARE estimate. f ABARE forecast. Sources: Australian Bureau of Statistics; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa!
2011 -12 f 103.7 93.7 100.4 90.8 121.0 109.3 87.4 79.0 101.4 91.6
2012 -13 f 103.6 91.4 97.3 85.8 115.3 101.7 85.9 75.7 98.9 87.2
R^\\^SXch^dc[^^Z
\TSXd\cTa\cWTeP[dT^U0dbcaP[XP]R^\\^SXchTg_^acbXb_a^YTRcTSc^ aXbTX]aTP[cTa\bc^ '&!QX[[X^]X]!( QTU^aTVaPSdP[[hTPbX]Vc^fPaS cWTT]S^UcWT_a^YTRcX^]_TaX^S1h! ! "0dbcaP[XP]R^\\^SXchTg_^acb PaT_a^YTRcTSc^QTf^acWPa^d]S &%QX[[X^]X]!&'S^[[Pab! _Ta RT]cWXVWTacWP]cWTU^aTRPbceP[dTX]!&' D]STacWTPbbd\_cX^]^UPeTaPVTbTPb^]P[R^]SXcX^]bTg_^acTPa]X]VbU^a UPa\R^\\^SXcXTbPaTU^aTRPbcc^QTPa^d]S" #QX[[X^]X]!'(PaXbT ^U '_TaRT]cUa^\PU^aTRPbc!%&QX[[X^]X]!&'5^a\P]hPVaXRd[cdaP[ R^\\^SXcXTbX]R[dSX]V\^bcVaPX]bP]S^X[bTTSbR^cc^]bdVPafX]TQTTU P]SeTP[[P\QP]S\^bcSPXah_a^SdRcbTg_^acTPa]X]VbPaTU^aTRPbcc^ X]RaTPbTX]!'( >eTacWT\TSXd\cTa\cWTeP[dT^U0dbcaP[XP]UPa\Tg_^acbXb_a^YTRcTSc^ aXbTX]aTP[cTa\b0dbcaP[XP]UPa\Tg_^acbPaT_a^YTRcTSc^QTf^acWPa^d]S "$&QX[[X^]X]!&'S^[[PabX]! ! "Pa^d]S"#_TaRT]cWXVWTacWP] cWTU^aTRPbceP[dTX]!&' 4g_^acTPa]X]VbUa^\0dbcaP[XPºb\X]TaP[aTb^daRTbbTRc^aPaTU^aTRPbcc^ QTPa^d]S $"#QX[[X^]X]!'(R^\_PaTSfXcWPU^aTRPbc $ QX[[X^]X] !&'5^aT]TaVhR^\\^SXcXTbTg_^acTPa]X]VbPaTU^aTRPbcc^X]RaTPbT Qh$#_TaRT]cc^%%'QX[[X^]X]!'(SaXeT][PaVT[hQhWXVWTaTg_^ac e^[d\TbP]SU^aTRPbcbca^]V_aXRTbU^a^X[P]SR^P[5^a\TcP[bP]S^cWTa \X]TaP[bTg_^acTPa]X]VbPaTU^aTRPbcc^aXbTQh! _TaRT]cc^'%&QX[[X^] X]!'(0U^aTRPbcX]RaTPbTX]Tg_^ace^[d\TbP]S_aXRTbU^a0dbcaP[XP] Xa^]^aTXbTg_TRcTSc^PRR^d]cU^acWT\PY^aXch^UcWXbX]RaTPbT >eTacWT\TSXd\cTa\Tg_^acTPa]X]VbX]aTP[cTa\b!&'S^[[PabUa^\ 0dbcaP[XPºb\X]TaP[aTb^daRTbbTRc^aPaT_a^YTRcTSc^X]RaTPbTc^P_TPZ^U #((QX[[X^]X]!( QTU^aTSTR[X]X]VVaPSdP[[hc^fPaScWTT]S^UcWT ^dc[^^Z_TaX^S1h! ! "\X]TaP[aTb^daRTbTg_^acbPaT_a^YTRcTSc^QT f^acW "$$QX[[X^] '_TaRT]cWXVWTacWP]cWTeP[dTU^aTRPbcU^a!&' 5^a\TcP[bP]S^cWTa\X]TaP[bTg_^acTPa]X]VbX]! ! "PaT_a^YTRcTS c^QTPa^d]S&$'QX[[X^]fWX[TTg_^acTPa]X]VbU^aT]TaVhaTb^daRTbPaT _a^YTRcTSc^QTf^acW$(%QX[[X^]
!!PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
R^\\^SXch^dc[^^Z
\TSXd\cTa\^dc[^^ZU^aPdbcaP[XPºbR^\\^SXchbTRc^a unit
2005 -06
2006 -07
2007 -08 s
2008 -09 f
2009 -10 f
2010 -11 f
2011 -12 f
2012 -13 f
US$/A$
0.75
0.78
0.87
0.83
0.80
0.78
0.77
0.76
farm – real a crops – real a
A$m A$m
27 807 29 418
27 795 28 572
26 651 26 651
31 448 30 607
35 079 33 307
37 598 34 829
39 457 35 659
40 467 35 680
A$m A$m
livestock – real a
A$m A$m
13 968 14 778 13 838 14 640
12 976 13 338 14 819 15 233
11 542 11 542 15 109 15 109
16 055 15 626 15 393 14 981
18 969 18 011 16 109 15 296
20 749 19 221 16 849 15 608
22 212 20 074 17 245 15 585
23 325 20 566 17 143 15 115
forest and fisheries products – real a
A$m A$m
3 687 3 900
3 846 3 954
3 926 3 926
4 193 4 080
4 429 4 206
4 677 4 332
5 088 4 599
5 454 4 809
mineral resources – real a energy minerals – real a
A$m A$m
92 438 97 793
107 928 110 944
115 065 115 065
153 448 149 342
157 882 149 909
151 490 140 332
151 878 137 259
153 676 135 497
A$m A$m
39 328 41 606
39 427 40 529
43 427 43 427
66 782 64 995
68 332 64 881
66 392 61 501
67 974 61 431
67 650 59 648
metals and other minerals – real a total commodities – real a
A$m A$m A$m A$m
53 110 56 186 123 931 131 111
68 502 70 415 139 570 143 469
71 638 71 638 145 642 145 642
86 666 84 347 189 090 184 029
89 551 85 028 197 390 187 422
85 098 78 830 193 765 179 493
83 904 75 828 196 423 177 517
86 025 75 849 199 598 175 986
farmers’ terms of trade a gross value of farm prodn b – real a
index A$m A$m
93.6 38 430 40 657
95.7 34 649 35 617
100.0 39 530 39 530
100.9 46 650 45 402
101.4 48 263 45 825
103.2 50 531 46 809
103.2 51 953 46 952
102.4 53 011 46 740
crops – real a livestock – real a net value of farm production – real a
A$m A$m A$m A$m A$m A$m
20 628 21 823 17 802 18 834
16 418 16 877 18 231 18 740
20 226 20 226 19 304 19 304
25 775 25 085 20 875 20 316
27 121 25 751 21 142 20 075
28 699 26 585 21 832 20 224
29 732 26 870 22 221 20 082
30 727 27 092 22 284 19 648
7 291 7 714
3 406 3 501
5 135 5 135
10 309 10 034
10 941 10 389
11 917 11 039
14 490 13 095
14 293 12 603
volume of farm production a – crops – livestock
index index index
120.9 144.9 101.9
99.5 94.2 104.4
100.0 100.0 100.0
114.5 130.6 99.6
115.8 130.1 102.5
115.6 126.5 105.8
115.9 123.6 109.5
115.5 120.8 111.9
index index index A$m A$m
97.1 97.3 97.1
99.8 103.4 97.4
100.0 100.0 100.0
110.9 107.3 114.6
117.4 109.3 128.5
122.7 113.8 134.8
128.3 120.6 138.7
131.8 124.0 142.5
88 740 93 881
103 611 106 506
110 462 110 462
147 311 143 368
151 567 143 913
145 431 134 718
145 803 131 769
147 529 130 077
commodity exports exchange rate
value of exports
farm sector
minerals and energy sector volume of mine production a – energy – metals and other minerals gross value of mine prodn – real a
a In 2007-08 Australian dollars. b For a definition of the gross value of farm production see table 21. s ABARE estimate. f ABARE forecast. Note: ABARE revised the method for calculating farm price and production indexes in October 1999. The indexes for the different groups of commodities are calculated on a chained weight basis using Fishers' ideal index with a reference year of 1997-98 = 100. Sources: Australian Bureau of Statistics; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa!"
R^\\^SXch^dc[^^Z
\PY^a0dbcaP[XP]R^\\^SXchTg_^acb f^a[S_aXRTbPaTX]DBU^aP[[R^\\^SXcXTbTgRT_cf^^[P]SfX]TfWXRWPaT0
!'( !&'
!' ( e^[d\T f^a[S eP[dT _aXRT
eP[dT
Xa^]^aT _T[[Tcb
0"!$Q 0!!Q
!
]P
%
0!'Q 0 #!Q
\TcP[[daVXRP[ R^P[ "
]P
(&
0 #%Q 0' Q
cWTa\P[R^P[
]P
'
0 "(Q 0 %Q
V^[S
%
&
(
0 Q 0 Q
RadST^X[
'
µ"
0&$Q 0%Q
[]V
$
]P
!#
0%&Q 0%!Q
R^__Ta
#
µ
'
0$&Q 0$'Q
P[d\X]P
$
µ &
µ"
0$$Q 0$(Q
]XRZT[
!'
µ!( µ%
0#&Q 0! Q
fWTPc
#
$
!
0#%Q 0#(Q
P[d\X]Xd\ µ
µ'
µ%
0#"Q 0#!Q
QTTUeTP[
µ#
µ!
"
0"'Q 0"%Q
SPXah
%
µ#
%
0"#Q 0" Q
fX]T
"
#
&
0" Q 0"$Q
iX]R
#
µ % µ !
0!$Q 0!%Q
f^^[
!
µ
Q
!
"
!#PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
µ#
PdbcaP[XP]PVaXRd[cdaT
PdbcaP[XP]PVaXRd[cdaT ^__^acd]XcXTbP]SRWP[[T]VTbX]cWT\TSXd\cTa\ [XbPT[[Xbc^]P]S_WX[[X_V[hST
CWT\TSXd\cTa\^dc[^^ZU^a0dbcaP[XPºbPVaXRd[cdaTbTRc^aXbbca^]V X]WXbc^aXRP[cTa\bPbPaTbd[c^UWXVWV[^QP[R^\\^SXch_aXRTbP]S R^]cX]dTSWXVW[TeT[b^UUPa\T`dXch
3Tb_XcTaXbX]VcTa\b^UcaPSTcWTUPa\bTRc^aUPRTbP]d\QTa^U ^]V^X]VRWP[[T]VTbX]R[dSX]VX]RaTPbTSR^\_TcXcX^]Ua^\^eTabTPb _a^SdRTabP]SPbca^]V0dbcaP[XP]S^[[Pa
5dacWTaRWP[[T]VTbT\TaVX]V^eTacWT\TSXd\cTa\X]R[dSTX]RaTPbX]V UPa\R^bcbaTbd[cX]VUa^\cWTX]ca^SdRcX^]^UP]T\XbbX^]bcaPSX]V bRWT\TP]S^cWTa_^[XRXTbc^PSSaTbbR[X\PcTRWP]VT
6^eTa]\T]cbRP]bd__^ac0dbcaP[XP]UPa\Tabc^PSP_cc^cWXbRWP]VX]V T]eXa^]\T]cQhT]bdaX]V_^[XRXTbS^]^cX\_TST_a^SdRTabUa^\ UX]SX]VP]SX\_[T\T]cX]V]TfP__a^PRWTbc^UPa\X]VcWPcT]PQ[TcWT bTRc^ac^aT\PX]R^\_TcXcXeT
bca^]V_a^b_TRcbU^aaTR^eTahUa^\Sa^dVWc CWT\TSXd\cTa\^dc[^^ZU^aPVaXRd[cdaP[R^\\^SXcXTbXbeTah_^bXcXeTQh WXbc^aXRbcP]SPaSb6[^QP[_aXRTbPaTVT]TaP[[hWXVWP]STg_TRcTSc^aT\PX] b^U^a\dRW^UcWT^dc[^^Z_TaX^Sc^! ! "3T\P]SU^aVaPX]bc^\TTc V^eTa]\T]c\P]SPcTSQX^UdT[_a^SdRcX^]cPaVTcbX]\P]hR^d]caXTbWPb X]RaTPbTSV[^QP[VaPX]_aXRTbCWXbXbP[b^SaXeX]VX]RaTPbTbX]_aXRTbU^a ^cWTaRa^_b¶bdRWPbR^cc^]P]Sb^hQTP]b¶Pb[P]SbdXcTSc^Ra^__X]VXb SXeTacTSc^_a^SdRTVaPX]U^aQX^UdT[b_a^SdRcX^] 0[cW^dVWf^a[STR^]^\XRVa^fcWXb_a^YTRcTSc^TPbTb[XVWc[h^eTacWT \TSXd\cTa\Xcc^^aT\PX]bWXbc^aXRP[[hWXVWBca^]VVa^fcWX]X]R^\T _PacXRd[Pa[hX]2WX]PP]SPRa^bb\dRW^Ub^dcWTPbc0bXPXbVT]TaPcX]V X]RaTPbTSST\P]SU^a[XeTbc^RZP]S[XeTbc^RZ_a^SdRcbX]R[dSX]VSPXah_a^S dRcbCWTbXV]XUXRP]caTSdRcX^]X]bWTT_]d\QTabP]S[^ff^^[bc^RZb\TP] cWPcf^^[_aXRTbPaTP[b^_a^YTRcTSc^aT\PX]bca^]V^eTacWT]TgcUTfhTPab
f^a[STR^]^\XRVa^fcW $
# "
5Pa\TabºRP_PRXchc^aTR^eTaUa^\Sa^dVWcP[b^P__TPabc^QTa^Qdbc 0RR^aSX]Vc^PQPaTbdaeThb^UcWTQa^PSPRaTP]SSPXahX]SdbcaXTb\P]h _a^SdRTabWPeT\PX]cPX]TSWXVW[TeT[b^UT`dXchX]cWTXaUPa\QdbX]TbbTb P[cW^dVWcW^bTPUUTRcTSQhcf^hTPab^URa^_UPX[daTPaT[XZT[hc^WPeTUPaTS [TbbfT[[5Pa\X]R^\TbX]!&'PaTP[b^_a^YTRcTSc^aXbTPbPaTbd[c^U WXVWTaR^\\^SXch_aXRTbP]Sb^\TX\_a^eT\T]cX]bTPb^]P[R^]SXcX^]b Ua^\cWTfXSTb_aTPSSa^dVWc^U!%&CWTR^\QX]PcX^]^UX\_a^eTS
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa!$
!
((" ((& ! !$ !( ! "
PdbcaP[XP]PVaXRd[cdaT
PdbcaP[XP]UPa\_TaU^a\P]RT $
$
!
#
(
"
%
!
"
!&'
0Q
eTaP[[ DZaPX]XP]QPa[Th_a^SdRcX^]XbU^aTRPbcc^aXbTQhPa^d]S$_TaRT]cc^($ \X[[X^]c^]]TbX]!'( 3ahR^]SXcX^]bWPeTPUUTRcTSR^PabTVaPX]b_a^SdRcX^]X]0dbcaP[XP^eTa cWT_Pbccf^hTPab7^fTeTaPaTcda]c^PeTaPVTbTPb^]P[R^]SXcX^]bXb
"!PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
VaPX]b
Tg_TRcTSc^aTbd[cX]PQ^eTPeTaPVT_[P]cX]Vb^UfX]cTaR^PabTVaPX]bX] !'(2^]bT`dT]c[hQPa[Th_a^SdRcX^]XbU^aTRPbcc^X]RaTPbTQh$ _Ta RT]cc^Pa^d]S(\X[[X^]c^]]Tb 8]2P]PSPSTb_XcTUPe^daPQ[TQPa[Th_aXRTbX]RaTPbTS_[P]cX]Vb^Ub_aX]V fWTPcX]!'(PaTTg_TRcTSc^SXb_[PRTb^\T^UcWTPaTPcWPcfPb _[P]cTSc^QPa[Th[PbchTPa2^]bT`dT]c[hQPa[Th_a^SdRcX^]XbU^aTRPbcc^QT [^fTaX]!'(AT[PcXeT[hbca^]VR^a]_aXRTbPaTTg_TRcTSc^\PX]cPX]cWT PaTP_[P]cTSc^R^a]P]SPbPaTbd[cR^a]_a^SdRcX^]XbU^aTRPbcc^QTR[^bT c^cWTaTR^aS^dc_dc^UcWT_aTeX^dbhTPa FWX[TQ^cWR^a]P]Sb^hQTP]_aXRTbWPeTX]RaTPbTS^eTacWT_PbchTPacWT Tg_TRcTSaTcda]bUa^\b^hQTP]baT[PcXeTc^R^a]PaT[XZT[hc^UPe^daPbWXUc^U PaPQ[T[P]SX]cWTD]XcTSBcPcTbQPRZc^b^hQTP]_a^SdRcX^]2^]bT`dT]c[h cWTPaTP_[P]cTSc^R^a]X]cWTD]XcTSBcPcTbXbU^aTRPbcc^STR[X]TQh#_Ta RT]cX]!'(0bbd\X]VPeTaPVTVa^fX]VR^]SXcX^]bDBR^a]_a^SdR cX^]XbU^aTRPbcc^STR[X]T\PaVX]P[[hUa^\cWTaTR^aS^dc_dc^UcWT_aTeX^db hTPa
fWTPc^dc[^^Z unit
2005 -06
2006 -07
2007 -08 f
2008 -09 z
2009 -10 z
2010 -11 z
2011 -12 z
2012 -13 z
million ha t/ha Mt Mt Mt Mt % %
216 2.87 620 624 136 110 21.8 17.6
208 2.84 591 609 117 111 19.2 18.2
215 2.81 603 611 110 104 18.0 17.0
223 2.79 622 616 115 108 18.7 17.6
218 2.84 619 623 111 112 17.9 18.0
217 2.90 630 630 112 113 17.7 18.0
218 2.97 645 643 114 116 17.7 18.0
218 3.03 659 655 118 118 18.0 18.0
US$/t US$/t
176 186
212 218
339 339
288 282
295 282
301 281
307 281
310 277
’000 ha t/ha kt kt
12 456 2.02 25 173 15 168
11 624 0.92 10 641 11 196
12 257 1.07 13 093 6 411
13 437 1.93 25 953 15 391
13 320 1.96 26 172 18 659
13 292 2.00 26 555 19 508
13 271 2.03 26 988 20 783
13 296 2.06 27 369 21 425
A$m A$m
3 296 3 486
2 765 2 843
2 143 2 143
4 734 4 607
6 125 5 815
6 709 6 215
7 400 6 688
7 815 6 890
A$/t A$/t
192 203
240 246
440 440
359 350
365 346
375 348
387 350
396 349
world area yield production consumption closing stocks trade stocks to use ratio trade to use ratio price a – nominal – real b
australia area yield production export volume export value – nominal – real c apw 10 net pool return d – nominal – real c
a US hard red winter wheat fob Gulf, July–June. b In 2007-08 US dollars. c In 2007-08 Australian dollars. d Australian premium white wheat, 10 per cent protein. f ABARE forecast. z ABARE projection. Sources: Australian Bureau of Statistics; International Grains Council; US Department of Agriculture; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa""
VaPX]b
^X[bTTSb^dc_dcP[b^X]RaTPbX]V F^a[S^X[bTTSb_a^SdRcX^]XbU^aTRPbcc^X]RaTPbTQh#_TaRT]cc^#$ \X[[X^]c^]]TbX]!'(?a^SdRcX^]^Ub^hQTP]bP]SRP]^[PaP_TbTTS cf^^UcWT\PY^a^X[bTTSbPaTQ^cWU^aTRPbcc^X]RaTPbTX]!'( 8]cWTD]XcTSBcPcTb¶cWTf^a[Sºb[PaVTbcb^hQTP]_a^SdRTa¶cWTPaTP b^f]c^b^hQTP]bXbU^aTRPbcc^X]RaTPbTX]!'(8]cWT_aTeX^dbhTPa cWTPaTP^Ub^hQTP]bSTR[X]TSQhPa^d]S %_TaRT]cPbPaTR^aSPaTPfPb _[P]cTSc^R^a]7^fTeTaaTR^aSb^hQTP]_aXRTbfX[[WT[_T]R^daPVTb^\T aTR^eTahX]PaTPb^f]c^b^hQTP]bX]!'(0bbd\X]VPeTaPVTbTPb^]P[ R^]SXcX^]bP]ScWTaTU^aTPeTaPVThXT[Sbb^hQTP]_a^SdRcX^]X]cWTD]XcTS BcPcTbXbU^aTRPbcc^X]RaTPbT 8]1aPiX[P]S0aVT]cX]PcWTPaTPb^f]c^b^hQTP]bX]RaTPbTSQh#_TaRT]c P]S%_TaRT]caTb_TRcXeT[hX]!&'8]0aVT]cX]PcWTPaTPb^f]fPbP aTR^aS %'\X[[X^]WTRcPaTb0bf^a[S_aXRTb^U^X[bTTSbPaTU^aTRPbcc^ aT\PX]WXVWX]!'(cWTPaTPb^f]c^b^hQTP]bX]0aVT]cX]PXbU^aTRPbc c^X]RaTPbT8]1aPiX[cWTPaTPb^f]c^b^hQTP]bX]RaTPbTSQhP]PeTaPVT( _TaRT]cPhTPaUa^\cWT\XS ((bc^\XS!bCWTPaTPb^f]X]1aPiX[ XbU^aTRPbcc^X]RaTPbTPVPX]X]!'(7^fTeTacWTbca^]VP__aTRXPcX^] ^UcWT1aPiX[XP]RdaaT]RhcWTaTP[PVPX]bccWTDBS^[[Pa\Phc^b^\TTgcT]c [X\XccWT_aXRTX]RT]cXeTbU^aTg_P]STS_[P]cX]Vb0bbd\X]VUPe^daPQ[T bTPb^]P[R^]SXcX^]bP]SPeTaPVThXT[Sb_a^SdRcX^]XbU^aTRPbcc^X]RaTPbTX] Q^cW0aVT]cX]PP]S1aPiX[X]!'( 3ahR^]SXcX^]bX]2P]PSP¶cWTf^a[Sºb[PaVTbcRP]^[PaP_TbTTSTg_^acTa ¶SdaX]VcWT!&'bTPb^]aTSdRTShXT[SbQT[^fcWTXaUXeThTPaPeTaPVT 8]!'(XUhXT[SbaTcda]R[^bTac^WXbc^aXRP[PeTaPVTb_a^SdRcX^]XbU^aT RPbcc^X]RaTPbT
b^hQTP]_a^SdRcX^] \PY^a_a^SdRTab ' % # ! Rc^QTaµ3TRT\QTa!&CWT UPe^daPQ[TaPX]UP[[P]SWXVW_aXRTbT]R^daPVTSP[PaVTPaTPc^QTb^f]c^ VaPX]b^aVWd\3Tb_XcTU[^^SbX]9P]dPah!'PRa^bb_Pacb^UcWTVaPX] b^aVWd\_a^SdRX]VaTVX^]bX]@dTT]b[P]Sc^cP[VaPX]b^aVWd\_a^SdRcX^] XbTg_TRcTSc^QTWXVWTacWP]X]cWT_aTeX^dbhTPa6aPX]b^aVWd\_a^SdR cX^]X]!&'XbU^aTRPbcc^X]RaTPbTQh'_TaRT]cc^Pa^d]S!$\X[[X^] c^]]Tb
5^aTRPbcbU^acWT0dbcaP[XP]VaPX]bX]SdbcahX]!'(PaTQPbTS^]cWT Pbbd\_cX^]^UPeTaPVTbTPb^]P[R^]SXcX^]bCWT0dbcaP[XP]1daTPd^UeTacWT\TSXd\cTa\QX^SXTbT[_a^SdR cX^]XbTg_TRcTSc^X]RaTPbTc^\TTccWTQ[T]SX]VaT`dXaT\T]cb
UTTSVaPX]bST\P]S CWTdbT^UVaPX]bP]S^X[bTTS\TP[U^a[XeTbc^RZUTTSX]VWPbX]RaTPbTSQhP] PeTaPVT!_TaRT]cPhTPa^eTacWT_PbccT]hTPabCWTc^cP[dbT^UVaPX]bP]S ^X[bTTSbU^a[XeTbc^RZUTTSX]VXb_a^YTRcTSc^X]RaTPbT^eTacWT\TSXd\cTa\ fXcWb^\TbdQbcXcdcX^]^USXbcX[[TabVaPX]bU^aRTaTP[VaPX][XZT[hc^^RRda FWT]TcWP]^[Xb_a^SdRTSUa^\R^a]^][hcWTbcPaRWXbdbTSP]ScWT aTbd[cX]VR^_a^SdRc¶SXbcX[[TabVaPX]b¶WPbP[[cWTaT\PX]X]V]dcaXT]cb _a^cTX]UPc\X]TaP[bP]SeXcP\X]b3XbcX[[TabVaPX]bPaT\PaZTcTSX]cWaTT U^a\b¶SXbcX[[TabSaXTSVaPX]b336fTcSXbcX[[TabVaPX]bF36P]SSaXTS SXbcX[[TabVaPX]bfXcWb^[dQ[Tb336B0[[cWaTT_a^SdRcbRP]QTdbTSU^a [XeTbc^RZUTTSX]V7^fTeTacWTX]R[dbX^]aPcTbX]aPcX^]bePahQTcfTT]
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa#$
dbR^a]dbTSX]TcWP]^[
"$
'
!'
%
!
#
#
!
&
eTa cWT\TSXd\cTa\XcXb[XZT[hcWPcPbUdacWTaR^]caPRcbTg_XaT[P]SfX[[aTcda] c^PVaXRd[cdaP[_a^SdRcX^] CWT4da^_TP]D]X^]ºb2^\\^]0VaXRd[cdaP[?^[XRh20?WPbcaPSXcX^]P[[h X]U[dT]RTS4DRa^__a^SdRcX^]cWa^dVWbd__^ac_aXRTb_[P]cX]VaTbcaXR cX^]bX]cTaeT]cX^]QdhX]VP]Sbc^RZ\P]PVT\T]cD]STa20?PaaP]VT \T]cbcWT_TaRT]cPVT^UT[XVXQ[T[P]Sc^QTbTcPbXSTcPZT]^dc^URa^_ _a^SdRcX^]XbSTRXSTSTPRWhTPa0ccWTT]S^U!&cWT4da^_TP]D]X^] ^UUXRXP[[hSTRXSTSc^bdb_T]ScWTbTcPbXST_^[XRhX]!'aTSdRX]VcWT P\^d]c^UT[XVXQ[T[P]Sc^QTbTcPbXSTUa^\ _TaRT]cc^_TaRT]c8cXb TbcX\PcTScWPcT[X\X]PcX]VcWTbTcPbXSTfX[[aTbd[cX]P]PSSXcX^]^UR[^bTc^ #\X[[X^]WTRcPaTb^U[P]SPePX[PQ[TU^aRa^__X]VFXcWVa^fX]V_aTbbdaTX] cWT4da^_TP]D]X^]c^PQ^[XbWcWTbTcPbXST[P]Sad[TR^\_[TcT[hP]SfXcW R^]RTa]bPQ^dcbd__[hP]SWXVWTaVaPX]_aXRTbXcXb_^bbXQ[TcWPccWTiTa^ _TaRT]caPcT\PhR^]cX]dT2WP]VTbc^4DbTcPbXST[X\XcbfX[[WPeTP_^cT] cXP[[hX\_^acP]cTUUTRc^]cWTP\^d]c^UPaPQ[T[P]SPePX[PQ[TU^aRa^__X]V ^eTacWT\TSXd\cTa\
#%PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
VaPX]b
_^cT]cXP[_a^SdRcX^]X]RaTPbTbX]B^dcW0\TaXRP 8] ((( 0aVT]cX]PWPaeTbcTS#'\X[[X^]WTRcPaTb^Ub^hQTP]bfWX[T 1aPiX[WPaeTbcTS('\X[[X^]WTRcPaTb1h!&'cWTPaTPbWPaeTbcTSWPS X]RaTPbTSc^ %'\X[[X^]WTRcPaTbX]0aVT]cX]PP]S! $\X[[X^]WTRcPaTbX] 1aPiX[8]cWT_PbchTPaP[^]TXcXbTbcX\PcTScWPccWTB^dcW0\TaXRP]bWPaT^U cWTf^a[Sb^hQTP]_a^SdRcX^]X]RaTPbTSUa^\#'_TaRT]cX]!%&c^$" _TaRT]cX]!&' CWTb^hQTP]X]SdbcahWPbP[b^QTT]X]RaTPbX]VX]?PaPVdPhfXcWcWTPaTP WPaeTbcTSX]RaTPbX]VUa^\(\X[[X^]WTRcPaTbX] ((( c^!'\X[[X^] WTRcPaTbX]!&'B^hQTP]_aXRTbPaT_a^YTRcTSc^aT\PX]aT[PcXeT[hWXVW ^eTacWT\TSXd\cTa\P]SXcXb[XZT[hcWPcb^dcW0\TaXRPfX[[X]RaTPbTXcb bWPaT^Uf^a[Sb^hQTP]_a^SdRcX^] 5dacWTaSTeT[^_\T]c^UPVaXRd[cdaP[X]SdbcaXTbX]b^dcW0\TaXRPST_T]Sb ^]cWT\PX]cT]P]RT^UPaT[PcXeT[hbcPQ[T\PRa^TR^]^\XRT]eXa^]\T]c 8]eTbc\T]cX]RadbWX]VUPRX[XcXTbP]ScaP]b_^acX]UaPbcadRcdaTfX[[QT aT`dXaTSU^aTg_P]bX^]_^cT]cXP[c^QT\Tc 1aPiX[X]_PacXRd[PaWPb\X[[X^]b^UWTRcPaTb^Ud]STeT[^_TSU^aTbcbP]S VaPbb[P]SbfXcW]dcaXT]caXRWb^X[bcWPcR^d[SQTcaP]bU^a\TSX]c^PVaXRd[ cdaP[[P]S2^]RTa]bWPeTQTT]aPXbTSQhT]eXa^]\T]cP[XbcbcWPcR^]cX]dTS PVaXRd[cdaP[Tg_P]bX^]fX[[[TPSc^STVaPSPcX^]^UcWT0\Pi^]aPX]U^aTbc 7^fTeTacWTDB3T_Pac\T]c^U0VaXRd[cdaTX]Xcb!"aT_^ac^]1aPiX[ 5dcdaT0VaXRd[cdaP[4g_P]bX^]?^cT]cXP[D]STaaPcTSbdVVTbcbcWPc\^aT cWP] $\X[[X^]WTRcPaTb^U[P]SR^d[SQTR[TPaTSfXcW^dcPSSXcX^]P[STU^a TbcPcX^]X]cWT0\Pi^]1PbX]
_a^SdRcXeXchX\_a^eT\T]cb\PhX]RaTPbTbd__[XTb 8]aTRT]chTPabcWTaTWPbQTT]PaP_XSPS^_cX^]^UVT]TcXRP[[h\^SXUXTS 6eTacWT^dc[^^Z_TaX^SfX]TaTU^a\bX]cWT 4da^_TP]D]X^]PaTTg_TRcTSc^aTSdRTX]cTa]PcX^]P[fX]T_a^SdRcX^]Qh T]^dVWc^_dcd_fPaS_aTbbdaT^]f^a[SfX]T_aXRTb 3^\TbcXRP[[hfX]TVaP_T_a^SdRcX^]fPbSaXeT]bdQbcP]cXP[[h[^fTaX] !%&QhcWTTUUTRcb^USa^dVWcP]SUa^bcX]ZTh_a^SdRcX^]PaTPb?aX\P aX[hPbPaTbd[c^UcWXbfX]TVaP_T_aXRTbX]RaTPbTSX]!%&U^acWTUXabc cX\TbX]RT! 1PbTS^]R^]SXcX^]b[TPSX]Vd_c^cWT!'WPaeTbc fX]TVaP_T_a^SdRcX^]X]!&'XbPVPX]U^aTRPbcc^QT[X\XcTSQhfPcTa PePX[PQX[XchP]SWT]RTfX]TVaP_T_aXRTbPaTU^aTRPbcc^X]RaTPbTUdacWTa 0bbd\X]VPaTcda]c^PeTaPVTbTPb^]P[R^]SXcX^]bQh!( bd__[hXb _a^YTRcTSc^TgRTTScWT_aTeX^db_TPZ0[cW^dVWcWTWXVWTa_a^SdRcX^] \PhbdVVTbccWT_^bbXQX[Xch^U[^fTafX]TVaP_T_aXRTbcWXbP__TPabd][XZT[h QTRPdbT^UX]RaTPbX]VfX]TbP[TbPcV^^S_aXRTb^]cWTf^a[S\PaZTc4g_^ac _aXRTb^U0dbcaP[XP]fX]TPaTU^aTRPbcc^PeTaPVTWXVWTa^eTacWT_a^YTRcX^] _TaX^SPbS^\TbcXR_a^SdRTab\PaZTcPVaTPcTa_a^_^acX^]^UWXVWTaeP[dT fX]TbX]R[dSX]VPVaTPcTa_a^_^acX^]^UQ^cc[TS_a^SdRc
$
ATcda]bfX[[P[b^QTPbbXbcTSQh_a^YTRcTSWXVWTaf^a[SfX]T_aXRTbX]cWT \TSXd\cTa\8\_a^eTSV[^QP[_aXRTbRP]QTTg_TRcTS_Pac[hPbPaTbd[c^U _^[XRhaTU^a\bcWPcPaTRdaaT]c[hd]STafPhX]cWT4da^_TP]D]X^]PX\TSPc aTSdRX]Vbd__[h8]PSSXcX^]c^WXVWTaf^a[S\PaZTc_aXRTbTg_^acaTcda]b _Tac^]]T^UVaP_TbRadbWTSfX[[QT]TUXcUa^\X\_a^eTSYdXRTTgcaPRcX^] aPcTb7^fTeTaXUcWTaTSdRcX^]X]4Dbd__[h^UfX]T^eTacWT]TgccWaTTc^ UXeThTPabXb[TbbcWP]Tg_TRcTSf^a[S_aXRTbPaTd][XZT[hc^aXbTQhPb\dRWPb X]SXRPcTSX]cWTbT_a^YTRcX^]b
#
WXVWTa_aXRTbU^aPdbcaP[XP]fX]T
fX]TVaP_Tb
0dbcaP[XP]fX]TTg_^acTPa]X]VbPaTU^aTRPbcc^QT]TUXcUa^\X]RaTPbTS f^a[SfX]T_aXRTbP]SP]Pbbd\TSSTR[X]TX]cWTeP[dT^UcWT0dbcaP[XP] S^[[Pa0[^fTaTgRWP]VTaPcTfX[[PbbXbccWT_aXRTR^\_TcXcXeT]Tbb^U 0dbcaP[XP]fX]TP]SR^]caXQdcTc^VaTPcTaR^]bd\_cX^]^U0dbcaP[XP]fX]TX] \PaZTcbbdRWPbcWTD]XcTSBcPcTb2P]PSPP]ScWTD]XcTS:X]VS^\AT[PcXeT RWP]VTbX]cWTeP[dT^UcWTS^[[PaPVPX]bccWTRdaaT]RXTb^UTg_^acR^\_TcX c^abfX[[P[b^QTPUPRc^aPXSX]VcWTR^\_TcXcXeT_aXRX]V^U0dbcaP[XP]_a^SdRc
" ! !&'
0 !
!" #
!% &
!(
fX]TTg_^acaTcda]bc^]]TRadbWTS fX]TVaP_T_aXRT
! ! "
FXcWWXVWTa_aXRTbcWTaTXb[XZT[hc^QTP[TbbcWP]_a^_^acX^]PcTaTSdR cX^]X]cWT`dP]cXch^UfX]TST\P]STSCWXbXbTg_TRcTSQTRPdbT`dP]cXch ST\P]STSWPb]^cQTT]^QbTaeTSc^QTWXVW[haTb_^]bXeTc^_aXRTRWP]VTb
$'PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
fX]TVaP_Tb
X]cWT_Pbc0ccWTbP\TcX\TX]P]d\QTa^U\PaZTcbbdRWPbX]2P]PSPP]S cWTD]XcTSBcPcTbR^]bd\TabR^]cX]dTc^ST\P]SPWXVWTa_a^_^acX^] ^UWXVWTa_aXRTSfX]TBdRW_aTUTaT]RTbPaT[XZT[hc^PSSc^cWT`dP]cXch ST\P]STSPcWXVWTa_aXRTb
PeTaPVTVaP_T_aXRTbPbP _a^_^acX^]^UTg_^acaTcda]b !' !%
CWTTgcT]cc^fWXRWV[^QP[fX]T_aXRT\^eT\T]cbPaTcaP]b[PcTSX]c^cWT _aXRT^UfX]TVaP_TbST_T]Sb^]R^]SXcX^]bfXcWX]cWT0dbcaP[XP]fX]T VaP_T\PaZTc8]XcbfX]TVaP_T_aXRT_a^YTRcX^]bPQPaTWPbPbbd\TScWPc cWTaTXb]^RWP]VTc^fX]TVaP_T\PaZTcR^]SXcX^]b7^fTeTacWTaTRT]c ad[X]V^UcWT0dbcaP[XP]2^\_TcXcX^]P]S2^]bd\Ta2^\\XbbX^]P[[^fX]V fX]TVaP_TVa^fTabc^U^a\]TV^cXPcX]VVa^d_b\PhRWP]VTcWT\PaZTc Sh]P\XRbP[cW^dVWXcf^d[SQT_aT\PcdaTc^_a^YTRccWTX\_PRc^UcWXb RWP]VT^]_aXRTb 5^acWT_a^YTRcX^]b_aTbT]cTSWTaTcWTaPcX^^UfX]TVaP_T_aXRTc^Tg_^ac eP[dT^UfX]T_Tac^]]T^UVaP_TbRadbWTSXbPbbd\TSc^QTPa^d]S!$ CWPcXbQPbTS^]WXbc^aXRP[P]SU^aTRPbceP[dTbfX]TVaP_TVa^fTabPaT TbcX\PcTSc^bWPaT^]PeTaPVT!$_TaRT]c^UcWTTg_^acaTcda]b_Tac^]]T ^UVaP_TbRadbWTS0[cW^dVWPdbTUd[QT]RW\PaZcWXbTbcX\PcTS^Tb]^c cPZTX]c^PRR^d]cSXUUTaT]RTbX]cWTbWPaT^UaTcda]bcWPcVa^fTabX\_[XRXc[h aTRTXeTUa^\S^\TbcXRbP[TbUa^\ePaX^dbfX]Tch_TbP]SUa^\VaP_Tb _a^SdRTSX]fPa\eTabdbR^^[R[X\PcTPaTPb
!# !! ! aPcX^ !
!" #
!% &
!(
! ! "
PdbcaP[XP]Tg_^ac^dc[^^ZX\_a^eTb CWTeP[dT^U0dbcaP[XP]fX]TTg_^acbX]!&'XbU^aTRPbcc^X]RaTPbTc^P aTR^aS" !QX[[X^]*P]X]RaTPbT^U#_TaRT]c^]cWT!((QX[[X^]PRWXTeTSX] !%&7^fTeTa0dbcaP[XP]fX]TTg_^ace^[d\TbPaTU^aTRPbcc^STR[X]T Qh!_TaRT]cX]!&'c^&'#\X[[X^][XcaTb\PX][hQTRPdbT^UaTSdRTS S^\TbcXRbd__[h0bPR^]bT`dT]RTPeTaPVTd]XcaTcda]bPaTU^aTRPbcc^ X]RaTPbTQh"_TaRT]cX]aTP[cTa\bc^"('_Ta[XcaTX]!&' CWTeP[dT^U0dbcaP[XP]fX]TTg_^acbXb_a^YTRcTSc^aTPRW#!$QX[[X^]X] !&'S^[[PabQh! ! "CWTX]RaTPbTX]eP[dTfX[[aTU[TRcPR^\QX]P cX^]^UX]RaTPbTSe^[d\TbbWX__TSP]SWXVWTa0dbcaP[XP]S^[[PaT`dXeP[T]c _aXRTbPRWXTeTSX]_PaccWa^dVWRdaaT]RhRWP]VTbCWTPeTaPVTd]XceP[dT^U Tg_^acbXb_a^YTRcTSc^QT\^aTcWP]#P[XcaTX]!&'S^[[PabX]! ! "P]'_TaRT]caTP[_aXRTX]RaTPbT^eTacWTU^aTRPbc!&'PeTaPVT 8]!%&cWTD]XcTS:X]VS^\aT\PX]TScWTc^_Tg_^ac\PaZTcU^a 0dbcaP[XP]fX]TbQ^cWX]cTa\b^Ue^[d\TP]Sc^cP[eP[dTPRR^d]cX]VU^a PQ^dcPcWXaS^UTg_^ace^[d\TP]SeP[dT4g_^acbc^cWTD]XcTSBcPcTb aP]ZTSbTR^]SP]SR^]bcXcdcTS!&_TaRT]c^Uc^cP[fX]TTg_^ace^[d\TbX] !%&P]S"!_TaRT]c^Uc^cP[eP[dT 8]cWTUXabcbTeT]\^]cWb^U!&'c^cP[bP[TbeP[dTbc^P[[STbcX]PcX^]b X]RaTPbTS^eTacWTbP\T_TaX^S[PbchTPaCWT_aX]RX_P[\PaZTcbaT\PX]TScWT
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa$(
PdbcaP[XP]fX]TTg_^acb $
#
'
"
%
!
#
!
!&'
0\
eTacWTQP[P]RT^UcWT^dc[^^Z_TaX^ScWTTPbcTa]\PaZTcX]SXRPc^a _aXRTXb_a^YTRcTSc^STR[X]TQhPUdacWTa &_TaRT]cc^Pa^d]S&&%RT]cbP ZX[^VaP\X]!&'S^[[PabQh! ! "Pbf^^[bd__[hUa^\cWTTg_P]SX]V 0dbcaP[XP]bWTT_U[^RZVaPSdP[[hX]RaTPbTbaT[PcXeTc^ST\P]S
f^^[^dc[^^Z unit eastern market indicator (clean) Ac/kg – nominal Ac/kg – real a Ac/kg auction price (greasy) million sheep numbers b million sheep shorn kg cut per head wool production (greasy) – shorn kt – other c kt – total kt wool exports (balance of payments basis) – volume (greasy equiv.) kt – nominal value A$m – real value a A$m
2005 -06
2006 -07
2007 -08 f
2008 -09 z
2009 -10 z
2010 -11 z
713 755 464 91 104 4.43
2011 -12 z
2012 -13 z
864 888 544 86 100 4.21
970 970 616 85 94 4.23
960 934 614 87 94 4.30
930 883 605 90 95 4.40
920 852 598 92 98 4.45
900 813 585 94 100 4.50
880 776 572 96 102 4.50
461 49 510
426 51 477
395 42 437
404 43 447
418 45 463
434 47 481
450 48 498
459 49 509
543 2 544 2 691
566 3 065 3 151
437 2 647 2 647
447 2 541 2 473
463 2 535 2 407
481 2 517 2 332
498 2 541 2 297
509 2 591 2 284
a In 2007-08 Australian dollars. b Closing sheep and lamb numbers at 30 June. c Includes wool on sheepskins, fellmongered and slipe wool. d Privately held stocks of unsold wool. f ABARE forecast. z ABARE projection. Sources: Australian Bureau of Statistics; Australian Wool Exchange; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa%$
f^^[
f^^[R[X_c^X]RaTPbTfXcWÃ^RZTg_P]bX^] Bca^]V_aXRTbU^aQ^cWbWTT_\TPcP]Sf^^[X]PSSXcX^]c^cWTT]R^daPVT \T]c_a^eXSTSQhcWTaTRT]cV^^SaPX]bX]\P]hPaTPbRP]QTTg_TRcTSc^ aTbd[cX]f^^[_a^SdRTab\^eX]Vc^Tg_P]SU[^RZbXiTbFWTaTcWTaTXbP] ^_cX^]c^ad]bWTT_^aVa^fRa^_b_a^SdRTabfX[[fTXVWd_cWTQT]TUXcb^U X]RaTPbX]VcWTXaU[^RZ]d\QTabPVPX]bccWT_^cT]cXP[QT]TUXcbUa^\_[P]cX]V PSSXcX^]P[PaTPbc^Ra^_bX]^aSTac^QT]TUXcUa^\WXVWVaPX]_aXRTbFXcW f^^[\TPcP]SRa^_bTPRWPRWXTeX]VWXVW_aXRTbX]aTRT]c\^]cWbcWTSTRX bX^]c^X]RaTPbT]d\QTab^U\TaX]^bU^af^^[_a^SdRcX^]fX[[ST_T]S^] Tg_TRcTSaT[PcXeTaTcda]bUa^\TPRWT]cTa_aXbT6XeT]cWPccWTcX\TU^aU[^RZ aTQdX[SX]VXbYdbcQTVX]]X]VP]h\PaZTSX]RaTPbTX]bW^a]f^^[_a^SdRcX^] fX[[]^cQTaTP[XbTSd]cX[!( 0bbd\X]VPc[TPbcPeTaPVTaPX]UP[[^eTacWTaT\PX]STa^U!&'\P]h PaTPbfX[[QT]TUXcUa^\P]X\_a^eT\T]cX]_PbcdaTR^]SXcX^]b0eTaPVT bTPb^]P[aPX]UP[[fX[[caP]b[PcTX]c^X]RaTPbTSU[TTRTfTXVWcbP]SX\_a^eTS bcP_[TbcaT]VcW>]TS^f]bXSTaXbZPbb^RXPcTSfXcWQTccTabTPb^]P[R^]SX cX^]bXbcWT_^cT]cXP[U^aPaTSdRcX^]X]cWT`dP]cXch^UUX]Tf^^[_a^SdRTS PbP_a^_^acX^]^UcWTc^cP[R[X_B^\T^UcWTUX]Tf^^[bd__[XTSX]!&' f^d[SWPeTQTT]¹Wd]VTaUX]TºQTRPdbT^U_^^a_PbcdaTPePX[PQX[Xch 8]cWTbW^accTa\0dbcaP[XP]bW^a]f^^[_a^SdRcX^]XbU^aTRPbcc^aXbT b[XVWc[hX]!'(c^##c^]]Tb[PaVT[hPbPaTbd[c^UPb[XVWc[hWXVWTa ]d\QTa^UbWTT_bW^a]P]SX]RaTPbX]VU[TTRTfTXVWcb8]cWT\TSXd\cTa\ bW^a]f^^[_a^SdRcX^]Xb_a^YTRcTSc^X]RaTPbTc^#$(c^]]TbQh! ! "P]X]RaTPbT^U %_TaRT]c^eTacWT!&'TbcX\PcT
Tg_^acbaTÃTRc[^ff^^[bd__[h 8]!%&cWTSTR[X]TX]0dbcaP[XP]bW^a]f^^[_a^SdRcX^]SXS]^ccaP]b [PcTX]c^[^fTabWX_\T]cb^U0dbcaP[XP]f^^[CWXbfPbQTRPdbTcWTbWPa_ X]RaTPbTbX]f^^[_aXRTbX]cWT[PccTaWP[U^UcWThTPaT]R^daPVTSPbXV]XUXRP]c aTSdRcX^]X]bc^RZbWT[SX]Qa^ZTabºbc^aTbP]S^]UPa\ BX]RTcWTQTVX]]X]V^U!&'^UUTaX]VbPcPdRcX^]WPeTQTT]_aX]RX_P[[h ^UUaTbWf^^[PUXa\X]SXRPcX^]cWPcbc^RZbPaTR[^bTc^TgWPdbcTSFXcW^dc cWTPePX[PQX[Xch^Ubc^RZbc^QdUUTacWTSa^_X]_a^SdRcX^]Tg_^acb^UVaTPbh f^^[STR[X]TSQh $_TaRT]cQTcfTT]9d[hP]S3TRT\QTa!&R^\_PaTS fXcWcWTbP\T_TaX^SX]!%& ATU[TRcX]VcWT[^fTa_a^SdRcX^]^Uf^^[P]SaT[PcXeT[PRZ^Ubc^RZbc^cP[ f^^[Tg_^acbPaTU^aTRPbcc^QT#"&c^]]TbX]!&'PSTR[X]T^U!" _TaRT]caT[PcXeTcWT_aTeX^dbbTPb^]FXcWX]RaTPbTS_aXRTb_Pac[h^UUbTc cX]VcWTaTeT]dTTUUTRcb^UcWT[^fTae^[d\TTg_^acTSTg_^acaTRTX_cbPaT U^aTRPbcc^STR[X]TQh %_TaRT]cc^!%QX[[X^]1TRPdbTf^^[_a^SdRcX^]Xb ]^cTg_TRcTSc^X]RaTPbTc^P]hbXV]XUXRP]cSTVaTTd]cX[!( 0dbcaP[XPºb
%%PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
f^^[
c^cP[VaTPbhf^^[Tg_^acbPaTU^aTRPbcc^X]RaTPbTb[XVWc[hX]!'(fXcW aTRTX_cbU^aTRPbcc^STR[X]TQh"'_TaRT]cc^!$QX[[X^]PbPaTbd[c^UcWT [^fTaU^aTRPbc_aXRTb 2WX]PR^]cX]dTbc^QTcWT[PaVTbcX\_^acTa^UaPff^^[Ua^\0dbcaP[XP8] !%&%%_TaRT]c^U0dbcaP[XP]c^cP[bWX_\T]cb^UVaTPbhf^^[fTaT STbcX]TSU^a2WX]P1TcfTT]9d[hP]S3TRT\QTa!&cWPc_a^_^acX^] SX__TSb[XVWc[hU^acf^aTPb^]bCWTUXabcfPbcWTd]RTacPX]chbdaa^d]SX]V cWTRTbbPcX^]^UX\_^ac`d^cP_Ta\XcbXbbdTSQhcWT2WX]TbT6^eTa]\T]c c^f^^[X\_^acTabX]9d[h!&CWPcXbbdTfPbaTb^[eTSfWT]cWT2WX]TbT 6^eTa]\T]cSTRXSTSc^aTP[[^RPcTP]h`d^cPcWPcaT\PX]TSd]UX[[TSQh $ BT_cT\QTa!&CWTbTR^]SaTPb^]fPbcWTP__aTRXPcX^]^UcWT0dbcaP[XP] S^[[PaR^\_PaTSfXcWcWTDBS^[[Pa[PcTaX]cWTbTPb^]FXcWDBTR^]^\XR Va^fcWPbbd\TSc^b[^fX]!'P]S2WX]PºbTR^]^\XRVa^fcWaPcT Pbbd\TSc^P[b^b[^f2WX]TbTST\P]SU^a0dbcaP[XP]aPff^^[X]!'( R^d[SfTPZT]XU^aSTabU^af^^[P__PaT[P]ScTgcX[TbSTR[X]T FXcWcWTDBTR^]^\XRb[^fS^f]Pbbd\TSc^QTaT[PcXeT[hbW^ac[XeTS ST\P]SU^aR^]bd\Ta_a^SdRcbX]R[dSX]Vf^^[[T]cTgcX[TbP]SP__PaT[Xb Pbbd\TSc^QTaTR^eTaX]VQhTPa[h! 0]Pbbd\TSST_aTRXPcX^]^UcWT 0dbcaP[XP]S^[[PaaT[PcXeTc^cWTDBS^[[PafX[[P[b^PbbXbcST\P]SU^af^^[ cWa^dVWcWT_a^YTRcX^]_TaX^SCWXbfX[[\PZT0dbcaP[XP]f^^[RWTP_TaU^a U^aTXV]QdhTabfW^caPSTX]DBS^[[Pab^aRdaaT]RXTbcWPcPaTR[^bT[hcXTSc^ XcbdRWPbcWT2WX]TbThdP] >eTacWT\TSXd\cTa\XcXbTg_TRcTScWPcR^]cX]dTSbca^]VVa^fcWX]cWT 2WX]TbTTR^]^\hfX[[WT[_\PX]cPX]X\_^acST\P]SU^a0dbcaP[XP]VaTPbh f^^[0[cW^dVWc^cP[bWX_\T]cb\Ph]^caTPRWcWTbP\T[TeT[bPbPRWXTeTSX] !%&QTRPdbT^Ubd__[hR^]bcaPX]cbcWT_a^_^acX^]^U0dbcaP[XPºbc^cP[ Tg_^acbSTbcX]TSU^a2WX]PXbTg_TRcTSc^aT\PX]\dRWcWTbP\TPb]^f
¹R^]ÂST]cXP[ºTg_^acb^]cWTaXbT 2WP]VTbX]cWT^UUXRXP[01BaT_^acX]V^USTbcX]PcX^]\PaZTcbU^aVaTPbh f^^[\PZTXcX]RaTPbX]V[hSXUUXRd[cc^STcTa\X]TTgPRc[hfWTaTTg_^acb^U 0dbcaP[XP]f^^[PaTV^X]V8]!%&U^aTgP\_[TcWTaT_^acX]V^Uf^^[ Tg_^acbbW^fTSPbWPa_d_bfX]VX]cWTe^[d\T^U_daRWPbTbSTT\TS ¹R^]UXST]cXP[ºcWTaTQh^\XccX]VP]hSTcPX[bPQ^dcR^d]caXTbc^fWXRWcWT bWX_\T]cbfTaTSTbcX]TS 2^]UXST]cXP[_daRWPbTb^UVaTPbhf^^[PRR^d]cTSU^a$$_TaRT]c^UcWT c^cP[X]!%&1TcfTT]9d[hP]S3TRT\QTa^U!&cWThPRR^d]cTSU^a \^aTcWP] "_TaRT]c^Uc^cP[0dbcaP[XP]f^^[Tg_^acb CWT[PRZ^UX]U^a\PcX^]PQ^dccWTSTbcX]PcX^]^UR^]UXST]cXP[bWX_\T]cb aTSdRTb\PaZTccaP]b_PaT]RhP]SfX[[WX]STacWTf^^[X]SdbcahºbTUU^acb ^eTacX\Tc^QTccTaVTPaaTbTPaRW_a^SdRcX^]P]S\PaZTcX]VTUU^acbc^cWT ]TTSb^U_PacXRd[Pa_a^RTbb^abQdhTabP]ST]SdbTab
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa%&
f^^[
4da^_TP]QdhTabfW^WPeTQTT][TbbPUUTRcTSQhcWTP__aTRXPcX^]^UcWT 0dbcaP[XP]S^[[PaX]!&'fX[[R^]cX]dTc^ST\P]SUX]Ta\XRa^]f^^[b ^eTacWT_a^YTRcX^]_TaX^S
_aXRTb^UP[cTa]PcXeTÂQaTbRaXcXRP[c^f^^[ºbR^\_TcXcXeT]Tbb CWTST\P]SU^af^^[XbPUUTRcTS]^c^][hQhXcb^f]_aXRTP]STgRWP]VT aPcTbQdcQhR^]bd\Ta_aTUTaT]RTbU^aSXUUTaT]cUXQaTbP]ScWTaT[PcXeT_aXRT ^UbdQbcXcdcTUXQaTbcWPcRP]QTb_d]X]c^hPa]bfXcWbX\X[PaT]SdbTRWPaPR cTaXbcXRbBdQbcXcdcTUXQaTbX]R[dST^cWTa]PcdaP[UXQaTbbdRWPbR^cc^]Pb fT[[Pbbh]cWTcXRUXQaTb 1TRPdbT^UXcbeTabPcX[XchP]ScWTePaXTch^U_a^SdRcb\PSTUa^\bh]cWTcXR UXQaTbcWTbWPaT^Ubh]cWTcXRUXQaTbdbTSX]cTgcX[TbP]SP__PaT[WPbQTT] aXbX]VU^acWXachhTPab2daaT]c[hPQ^dcWP[UcWTUXQaTdbTSPRa^bbcWTf^a[SXb bh]cWTcXRUXQaTX]R[dSX]V_^[hTbcTaPRah[XR]h[^]_^[h^[TUX]P]Sb_P]STg fXcWf^^[RdaaT]c[h\PZX]Vd_^][hPa^d]S!_TaRT]c^UcWTc^cP[UXQaT \PaZTc
_aXRTaPcX^^Uf^^[! \XRa^] c^P[cTa]PcXeTUXQaTb \^]cW[hT]STSSTRT\QTa!& &
% $ # " !
!# $
!$ %
!% &
f^^[c^bh]cWTcXRaPcX^ f^^[c^R^c[^^Z0aPcX^
!& '
CWTaPcX^^Uf^^[_aXRTbc^bh]cWTcXRUXQaTP]SR^cc^]_aXRTb_a^eXSTbP VdXSTc^f^^[ºbaT[PcXeT_aXRTR^\_TcXcXeT]TbbCWTaPcX^^Uf^^[_aXRTbc^ bh]cWTcXRUXQaT_aXRTbPeTaPVTS#c^ QTcfTT]9d[hP]S3TRT\QTa!& R^\_PaTSfXcWPbXghTPaPeTaPVT^U"$c^ QTcfTT]! P]S!% &?PbcTg_TaXT]RTbdVVTbcbcWPcXUf^^[_aXRTbaT[PcXeTc^bh]cWTcXR_aXRTb aT\PX]PQ^eTcWXb[^]VTacTa\PeTaPVTU^aP]TgcT]STS_TaX^ScWTaTXb[XZT[h c^QTb^\TbdQbcXcdcX^]^U[^fTaR^bcUXQaTbU^af^^[ >eTacWT\TSXd\cTa\cWTd]RTacPX]chPQ^dcf^a[S^X[_aXRTbR^\_[XRPcTb cWTUdcdaT_aXRTbRT]PaX^U^abh]cWTcXRUXQaTb8cRP]QTTg_TRcTSW^fTeTa cWPcbca^]VVa^fcWX]2WX]TbTS^\TbcXRST\P]SU^aR^]bd\TaV^^SbbdRW PbR[^cWX]VUa^\PQdaVT^]X]V\XSS[TR[PbbfX[[_dcd_fPaS_aTbbdaT^] cWTST\P]SU^abh]cWTcXRb0bbd\X]VcWPc_aXRTb^Ubh]cWTcXRbPaT[PaVT[h \PX]cPX]TSPcRdaaT]c[TeT[bcWTf^^[c^bh]cWTcXR_aXRTaPcX^Xb_a^YTRcTSc^ caT]SS^f]Pbf^^[_aXRTbSTR[X]T^dcc^! ! " CWTf^^[c^R^cc^]_aXRT2^c[^^Z0aPcX^PeTaPVTS$&c^ QTcfTT]9d[h !&P]S9P]dPah!'P] _TaRT]cSTR[X]TUa^\cWT_aTRTSX]VbXg \^]cWbCWXbSTR[X]T^RRdaaTSQTRPdbT^UcWT\dRWbca^]VTaX]RaTPbTX] R^cc^]_aXRTbaT[PcXeTc^cW^bT^Uf^^[X]cWTUXabcWP[U^U!&'FXcW [^fTaf^a[SR^cc^]_a^SdRcX^]U^aTRPbcc^ZTT_R^cc^]_aXRTbaT[PcXeT[h WXVWX]cWT!'(bTPb^]cWTf^^[c^2^c[^^Z0_aXRTaPcX^Xb[XZT[hc^ STR[X]TUdacWTa>eTacWT\TSXd\cTa\cWTf^^[c^R^cc^]_aXRTaPcX^Xb _a^YTRcTSc^UP[[c^Pa^d]S$PeP[dTR[^bTc^XcbbXghTPaPeTaPVT^U#&c^
%'PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
f^^[
X\_a^eX]Vf^^[ºbPccaPRcXeT]Tbb 6XeT]cWTeTabPcX[Xch^UR^cc^]P]Sbh]cWTcXRbX]cWTf^a[SUXQaT\PaZTc cWTR^]cX]dTSbdRRTbb^UcWTf^^[X]SdbcahST_T]Sb]^c^][h^]cWT aT[PcXeT_aXRTR^\_TcXcXeT]Tbb^Uf^^[QdcP[b^^]XcbPQX[Xchc^aT\PX]X] ST\P]SPbPSTbXaPQ[TUXQaTX]_a^SdRcbb^[Sc^R^]bd\TabCWT_a^\^ cX^]P]S\PaZTcX]V^Uf^^[PbPZThR^\_^]T]c^UePaX^dbcTgcX[TbcWPcPaT dbTSPRa^bbPaP]VT^UUPbWX^]XcT\b\PhPbbXbcX]T]bdaX]VcWPcST\P]SXb bdbcPX]TS^eTacWT[^]VTacTa\ CTRW]^[^VXRP[PSeP]RTbX]cWT_a^SdRcX^]^UcTgcX[TbWPeTP[[^fTScWT f^^[X]Sdbcahc^QT]TUXcSXaTRc[hUa^\]XRWT\PaZTcbcWPcRPcTac^RWP]VX]V R^]bd\Ta_aTUTaT]RTb>]TbdRWTgP\_[TXbP]P__PaT]ccaT]SX]R^]bd\Ta _aTUTaT]RTbQPRZc^fPaS]PcdaP[UXQaTb0SeP]RTbX]cWT_a^RTbbX]VP]S caTPc\T]c^Uf^^[hPa]bWPeTT]PQ[TScWTaTT\TaVT]RT^Uf^^[X]b_^acb fTPa1TU^aTcWTfXSTb_aTPSdbT^Ubh]cWTcXRUXQaTbX]cWTbTVPa\T]cbf^^[ fPbdbTSU^aXcbX]bd[PcX]V`dP[XcXTb8cbdQbT`dT]c[h[^bcXcbU^^cW^[SX]cWXb PaTPPbbh]cWTcXRb_a^eTSc^QT[TbbR^bc[h\^aTTUUTRcXeTPc_a^cTRcX]V fTPaTabUa^\cWTT[T\T]cbP]STPbXTac^RPaTU^a 8]XcXPcXeTbQhcWTf^^[X]Sdbcahc^\PaZTccW^bTRWPaPRcTaXbcXRb^Uf^^[ STT\TSSTbXaPQ[TQhRTacPX]R^]bd\TaVa^d_bWPeTcWT_^cT]cXP[c^\PX] cPX]ST\P]SU^aaPff^^[BdRWPRcXeXcXTbfX[[QTP]TbbT]cXP[R^\_^]T]c^U cWTX]SdbcahºbTUU^acbc^R^\_TcTbdRRTbbUd[[hPVPX]bc[TbbR^bc[hUXQaTb
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa%(
R^cc^]
R^cc^] ^dc[^^Zc^! ! " \PgU^bcTa
Bca^]Vf^a[SST\P]SU^aR^cc^][^fTaf^a[S_a^SdRcX^]X]!&'P]S cWTTg_TRcPcX^]^U[^fTaDBR^cc^]_a^SdRcX^]X]!'(PaTU^aTRPbcc^ ZTT_f^a[SR^cc^]_aXRTbaT[PcXeT[hWXVW^eTacWT]Tgccf^hTPabCWTbca^]V Va^fcWX]R^cc^]ST\P]S^eTacWT_PbcSTRPSTXbTg_TRcTSc^QTbdbcPX]TS ^eTacWT\TSXd\cTa\\PX][hcWa^dVWVa^fX]VR^]bd\TaX]R^\Tb ¶\^bcX\_^acP]c[hX]2WX]PP]S8]SXP=TeTacWT[Tbb^]V^X]V_a^SdRcXeXch X\_a^eT\T]cbX]R^cc^]_a^SdRcX^]PaT_a^YTRcTSc^aTbd[cX]b^\TSTR[X]T X]R^cc^]_aXRTbX]aTP[cTa\b!&'S^[[PabUa^\! 3Tb_XcTWXVWf^a[S_aXRTbU^aVaPX]bP]S^X[bTTSbR^cc^]Xb_a^YTRcTSc^ aT\PX]cWT\^bc_a^UXcPQ[TXaaXVPcTSRa^_X]XcbcaPSXcX^]P[Va^fX]VPaTPb^U 0dbcaP[XP0bPaTbd[cPeTaPVTR^cc^]_a^SdRcX^]Xb_a^YTRcTSc^QTR[^bTc^ &!c^]]TbX]! ! "
bca^]Vf^a[SR^cc^]_aXRTbX]!' FXcWf^a[SR^cc^]_a^SdRcX^]UP[[X]VbW^ac^UR^]bd\_cX^]cWTR^cc^] X]SXRPc^a_aXRTXbU^aTRPbcc^PeTaPVTDB& RT]cbP_^d]SX]!&'!!_Ta RT]cWXVWTacWP]X]cWT_aTeX^dbhTPa
f^a[SR^cc^] $
"
!$
!$
!
&$
$
$
!$
$
!&'
DBR[Q
aSAXeTaSTeT[^_\T]c#&_TaRT]c ^UfWXRWXbX]cWT=^acWTa]CTaaXc^ah3Tb_XcTcWT_^cT]cXP[XcbTT\bcWPc R^\\TaRXP[bRP[TR^cc^]_a^SdRcX^]^]cWT>aSAXeTaXbd][XZT[hc^^RRda SdaX]VcWT_a^YTRcX^]_TaX^S
!'(
XaaXVPcTS
R^a] R^cc^] b^aVWd\ b^hQTP]b bd]U[^fTab
\^]^d]bPcdaPcTS
Sah[P]S R^cc^] b^aVWd\ bd]U[^fTab
\^]^d]bPcdaPcTS
WP $
$
!
2[X\PcTRWP]VTP]SXcbX\_[XRPcX^]bPaTP]T\TaVX]VXbbdTU^acWT0dbcaP[XP] R^cc^]X]Sdbcah5^acWTX]SdbcahVT]TaP[[hR[X\PcTRWP]VT\Ph\TP] aTSdRTSaPX]UP[[P]ScWTaTU^aTaTSdRTSXaaXVPcX^]fPcTaUa^\bdaUPRT P]SVa^d]SfPcTaaTb^daRTb7^fTeTaU^ab^\T\^aT]^acWTa[hVa^fX]V aTVX^]bR[X\PcTRWP]VTR^d[S\TP]\^aTaPX]UP[[0ccWXbbcPVTSTcPX[TS PbbTbb\T]cb^UcWTX\_PRc^UR[X\PcTPaT^][hPePX[PQ[TU^ab^\T^UcWT b^dcWTa]R^cc^]Va^fX]VaTVX^]b5^acWTbTaTVX^]bcWTQTbcTbcX\PcTb^U R[X\PcTRWP]VTQh!"PaT)
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
R^cc^]
8]cWT=TfB^dcWFP[Tbµ@dTT]b[P]SQ^aSTaaTVX^]bPRR^d]cX]VU^a # _TaRT]c^U0dbcaP[XP]R^cc^]_a^SdRcX^]PeTaPVTbdaUPRTfPcTaPePX[ PQX[XchR^d[SQTaTSdRTSQh _TaRT]cP]SfPcTaSXeTabX^]bQh!_TaRT]c 2B8A>
8]cWT6fhSXaaTVX^]^U=TfB^dcWFP[TbPRR^d]cX]VU^aPa^d]S!!_Ta RT]c^U0dbcaP[XP]R^cc^]_a^SdRcX^]PeTaPVTbdaUPRTfPcTaPePX[PQX[Xch R^d[SQTaTSdRTSQh _TaRT]cP]SfPcTaSXeTabX^]bQh _TaRT]c 2B8A>
8]cWT=P\^XaTVX^]^U=TfB^dcWFP[TbPRR^d]cX]VU^a &_TaRT]c^U 0dbcaP[XP]R^cc^]_a^SdRcX^]PeTaPVTbdaUPRTfPcTaPePX[PQX[XchR^d[S QTaTSdRTSQh$_TaRT]cP]SbdaUPRTfPcTaSXeTabX^]bQh _TaRT]c 2B8A>
0[cW^dVWbdRWTbcX\PcTbPaT^U[^]VTacTa\R^]RTa]c^cWT0dbcaP[XP] R^cc^]X]SdbcahU^acWT_a^YTRcX^]_TaX^Sc^! ! "cWTX\_PRcb^UR[X\PcT RWP]VT^]cWT0dbcaP[XP]R^cc^]X]SdbcahPaTPbbd\TSc^QT\X]X\P[
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa&$
QTTUP]SeTP[
\TPc ^dc[^^Zc^! ! " bP[[hÃTcRWTaYP\TbUT[[P]SY^W]W^VP]
QTTUP]SeTP[ CWT0dbcaP[XP]fTXVWcTSbP[ThPaS_aXRT^UQTTUXbU^aTRPbcc^X]RaTPbTQh& _TaRT]cX]!'(c^PeTaPVT" $RT]cbPZX[^VaP\D]STa_X]]X]VcWTaXbT X]_aXRTbfX[[QTPSTR[X]TX]]d\QTab^URPcc[Tcda]TS^UUU^ab[PdVWcTaPb _a^SdRTab\^eTc^aTQdX[SWTaS]d\QTabU^[[^fX]VbTeTaP[hTPab^USa^dVWc X]\P]haTVX^]bCWTTgcT]c^UcWT_aXRTX]RaTPbTXbTg_TRcTSc^QT\^STa PcTSQhfTPZTaST\P]SU^a0dbcaP[XP]QTTUX]9P_P]P]ScWTAT_dQ[XR^U :^aTPPbR^\_TcXcX^]Ua^\cWTD]XcTSBcPcTbX]RaTPbTb_PacXRd[Pa[hc^fPaS cWT[PccTaWP[U^UcWThTPa
PdbcaP[XP]RPcc[TWTaS " !$ ! $ $ \X[[X^] (("
(('
!"
!'
! "
>eTacWT\TSXd\cTa\WXVWTaS^\TbcXR_a^SdRcX^]P]SX]RaTPbTSR^\_T cXcX^]X]ZThTg_^ac\PaZTcbXbTg_TRcTSc^R^]caXQdcTc^b^\TfTPZT]X]VX] 0dbcaP[XP]bP[ThPaS_aXRTb^UQTTURPcc[T8]! ! "cWT0dbcaP[XP]fTXVWcTS bP[ThPaS_aXRT^UQTTUXb_a^YTRcTSc^PeTaPVTP[Xcc[Td]STa!#RT]cbPZX[^ VaP\SaTbbTSfTXVWcX]!&'S^[[Pab
SPXah QTTU
X]RaTPbTSQTTU_a^SdRcX^]^eTacWT\TSXd\cTa\ 2Pcc[Tb[PdVWcTaX]VbaT\PX]TSaT[PcXeT[hWXVWSdaX]V!%&P]SX]c^cWT UXabcWP[U^U!&'PbSa^dVWcR^]SXcX^]bR^]cX]dTS_PacXRd[Pa[hPRa^bb b^dcWTa]0dbcaP[XP7^fTeTacWTaTfPb^][hPb\P[[UP[[X]cWTbXiT^UcWT RPcc[TWTaSc^!'!\X[[X^]Qh9d]T!&2Pcc[T]d\QTabPaTU^aTRPbcc^ aT\PX]Pa^d]S!'!\X[[X^]X]9d]T!' FXcWP]X\_a^eT\T]cX]bTPb^]P[R^]SXcX^]b^eTacWT_PbcUTf\^]cWb _PacXRd[Pa[hX]@dTT]b[P]SP]S]^acWTa]=TfB^dcWFP[Tb_a^SdRTabPaT Tg_TRcTSc^aTcPX]PSSXcX^]P[bc^RZX]^aSTac^R^\\T]RTaTQdX[SX]VcWTXa WTaSbATU[TRcX]VP]X]RaTPbTSaTcT]cX^]^UUT\P[TRPcc[TU^aQaTTSX]Vc^cP[ b[PdVWcTaX]VbPaTU^aTRPbcc^UP[[Qh!_TaRT]cc^'%\X[[X^]X]!'(0bP aTbd[cQTTU_a^SdRcX^]XbP[b^U^aTRPbcc^UP[[Qh!_TaRT]cX]!'(c^! \X[[X^]c^]]Tb >eTacWT\TSXd\cTa\PbcWTbXiT^UcWTWTaSX]RaTPbTbP]SWTaSaTQdX[SX]V b[^fbRPcc[Tb[PdVWcTaX]VbPaTTg_TRcTSc^X]RaTPbTB[PdVWcTaX]VbPaT _a^YTRcTSc^Va^fc^("\X[[X^]Qh! ! "fXcWQTTU_a^SdRcX^]^U!" \X[[X^]c^]]Tb7^fTeTaPbcWTaTcda]bX]aTP[cTa\bUa^\QTTU_a^SdR cX^]PaTbcTPSX[hTa^STS^eTacX\TcWTVaPSdP[aXbTX]QTTURPcc[T]d\QTabXb _a^YTRcTSc^bcP[[Qh! ! "
&%PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
QTTUP]SeTP[
Tg_^acbR^]bcaPX]TSX]cWTbW^accTa\ 9P_P]TbTaTbcaXRcX^]b^]DBQTTUX\_^acbU^[[^fX]VcWTSXbR^eTah^UP Q^eX]Tb_^]VXU^a\T]RT_WP[^_PcWh1B4X]UTRcTSP]X\P[X]cWTDBWTaSX] [PcT!"aT\PX][PaVT[hd]RWP]VTS8\_^acb^UDBQTTUPaTaTbcaXRcTSc^ \TPcUa^\RPcc[T^U[TbbcWP]! \^]cWb^UPVTP]SR^]cPX]X]V]^b_TRX UXTSaXbZ\PcTaXP[bdRWPbb_X]P[R^aSCWTaTbcaXRcX^]b^]X\_^acbUa^\cWT D]XcTSBcPcTbPaTTg_TRcTSc^[X\XcR^\_TcXcX^]Ua^\DBQTTUX]cWT9P_P ]TbT\PaZTcSdaX]VcWTaT\PX]STa^U!&'P]SX]c^!'(
PdbcaP[XP]UTTS[^c]d\QTab `dPacTa[hT]STSSTRT\QTa!&
'
%
ATbcaXRcX^]b^]cWTX\_^ac^UDBQTTUX]c^:^aTPU^[[^fX]VcWT1B4TeT]cb X]cWTD]XcTSBcPcTbP[b^aT\PX]X]_[PRT>][hQTTUR^]cPX]X]V]^Q^]Tb ^a^cWTab_TRXUXTSaXbZ\PcTaXP[P]SUa^\RPcc[Td]STa" \^]cWb^UPVTXb _Ta\XccTS8]RaTPbTSR^\_TcXcX^]U^a0dbcaP[XPUa^\cWTD]XcTSBcPcTbX]cWT :^aTP]\PaZTcXb]^cTg_TRcTSd]cX[TPa[h!'(
# ¹ (((
!
!" !$ !&
3Tb_XcT[Xcc[TR^\_TcXcX^]Ua^\cWTD]XcTSBcPcTbTg_^acb^U0dbcaP[XP]QTTU c^9P_P]P]S:^aTPPaTU^aTRPbcc^QTS^f]X]!&'QTRPdbT^UaTSdRTS cda]^UU^UVaPX]UTSRPcc[T8]cWT3TRT\QTa`dPacTa^U!&'cWT]d\QTa ^URPcc[T^]UTTSX]0dbcaP[XPUT[[c^$'#S^f]Ua^\^eTa(PhTPa TPa[XTaCWTSTR[X]TaTU[TRcbWXVW0dbcaP[XP]UTTSTaRPcc[T_aXRTbWXVWVaPX] _aXRTbP]ScWTTa^SX]VTUUTRc^]Tg_^acaTeT]dTb^UcWTP__aTRXPcX^]^UcWT 0dbcaP[XP]S^[[PaPVPX]bccWT9P_P]TbThT]
QTTUP]SeTP[^dc[^^Z
saleyard price a – nominal – real b cattle numbers c – beef slaughterings production consumption per person retail price – nominal – real b export volume d – to united states – to japan – to korea, rep. of export value – nominal – real b live cattle exports
unit
2005 -06
2006 -07
2007 -08 f
2008 -09 z
2009 -10 z
2010 -11 z
2011 -12 z
Ac/kg Ac/kg million million ’000 kt
322 341 28.5 25.7 8 401 2 077
292 300 28.2 25.6 9 081 2 226
294 294 28.2 25.7 8 800 2 138
315 307 28.6 26.0 8 600 2 098
295 280 29.1 26.3 8 750 2 144
285 264 29.4 26.5 8 900 2 181
278 251 29.6 26.6 9 150 2 251
270 238 29.5 26.4 9 300 2 297
kg
35.4
36.3
36.3
36.5
36.8
37.5
37.6
37.9
Ac/kg Ac/kg kt kt kt kt
1 540 1 629 892 295 388 121
1 538 1 581 974 303 403 157
1 550 1 550 915 280 360 135
1 560 1 518 880 280 340 110
1 560 1 481 900 300 310 100
1 565 1 450 930 320 300 95
1 570 1 419 950 340 330 90
1 575 1 389 960 350 340 90
A$m A$m ’000
4 272 4 519 549
4 634 4 763 638
4 170 4 170 680
4 300 4 185 700
4 120 3 912 720
4 110 3 807 750
4 100 3 705 770
4 060 3 580 780
a Dressed weight equivalent. b In 2007-08 Australian dollars. c At 30 June. d Fresh, chilled and frozen, shipped weight. f ABARE forecast. z ABARE projection. Sources: Department of Agriculture, Fisheries and Forestries; Australian Bureau of Statistics; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa&&
2012 -13 z
QTTUP]SeTP[
FXcW\PaZTS[hUTfTaRPcc[T^]UTTS0dbcaP[XP]Tg_^acb^UVaPX]UTSQTTU PaTTbcX\PcTSc^UP[[X]!&'C^cP[Tg_^acb^UQTTUVaPX]P]SVaPbbUTS c^9P_P]PaTTbcX\PcTSc^UP[[Qh _TaRT]cX]!&'c^"%c^]]Tb bWX__TSfTXVWcfWX[TTg_^acbc^:^aTPPaTTbcX\PcTSc^UP[[Qh #_TaRT]c c^ "$c^]]Tb 0bbd\X]VPV^^SfX]cTaVaPX]WPaeTbcP]SPSTR[X]TX]VaPX]_aXRTbcWT ]d\QTa^URPcc[T^]UTTSX]0dbcaP[XPXbTg_TRcTSc^X]RaTPbTX]!'( =TeTacWT[TbbTg_^acbPaTU^aTRPbcc^UP[[b[XVWc[hUdacWTaX]!'(PbP aTbd[c^U[^fTaST\P]SU^a0dbcaP[XP]QTTUX]:^aTPP]S9P_P]
R^\_TcXcX^]Ua^\cWTd]XcTSbcPcTbc^Va^fX]Z^aTP]\PaZTc CWTAT_dQ[XR^U:^aTPXbR^]bXSTaX]VUd[[haT^_T]X]VXcb\PaZTcc^DBQTTU cWa^dVWPbcT_QhbcT__a^RTbb0c_aTbT]cXc^][hPRRT_cbDBQTTUUa^\ RPcc[Td]STa" \^]cWb^UPVTP]SR^]cPX]X]V]^b_TRXUXTSaXbZ\PcTaXP[ QaPX]bbZd[[beTacTQaPTP]S^cWTaQ^]TbP]SRTacPX]X]cTa]P[^aVP]b8] 9P]dPah!'cWT0VaXRd[cdaTeTacWT\TSXd\cTa\XcXbTg_TRcTScWPcR^\_TcXcX^]Ua^\b^dcW0\TaXRP fX[[QTR^]bcaPX]TSQhR^]cX]dX]VcaPSTaT[PcTSaTbcaXRcX^]bP]STg_^ac
'PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
bWTT_\TPc
R^]ca^[bX]0aVT]cX]P0_a^YTRcTSUP[[X]0dbcaP[XP]bP[ThPaS_aXRTbP]SP] Pbbd\TSST_aTRXPcX^]^UcWT0dbcaP[XP]S^[[PaPVPX]bccWTDBS^[[PafX[[ PbbXbcX]\PZX]V0dbcaP[XP]QTTUTg_^acb\^aTR^\_TcXcXeT
Tg_^acb^U[XeTRPcc[Tc^X]RaTPbT 4g_^acb^U[XeTRPcc[TPaTTbcX\PcTSc^X]RaTPbTQh&_TaRT]cc^%'X] !&'aTU[TRcX]VP]X]RaTPbTSPePX[PQX[Xch^UbdXcPQ[TRPcc[TX]]^acWTa] 0dbcaP[XPU^[[^fX]VUPe^daPQ[TbTPb^]P[R^]SXcX^]bP]Sbca^]VTg_^ac ST\P]SATU[TRcX]VP]Tg_TRcTSX]RaTPbTX]ST\P]S[XeTRPcc[TTg_^acb PaTU^aTRPbcc^aXbTc^&X]!'(STb_XcTPU^aTRPbcX]RaTPbTX] _aXRTb >eTacWT\TSXd\cTa\cWT]d\QTa^URPcc[TTg_^acTS[XeTXb_a^YTRcTSc^ X]RaTPbTSaXeT]Qhb^[XSST\P]SX]b^dcWTPbc0bXP]\PaZTcbP_a^YTRcTS UP[[X]bP[ThPaS_aXRTb^URPcc[TP]SP]Pbbd\TSfTPZTa0dbcaP[XP]S^[[Pa8cXb _a^YTRcTScWPcQh! ! "[XeTRPcc[TTg_^acbfX[[aTPRW&'P]X\P[b
bWTT_\TPc 0dbcaP[XP][P\Q_a^SdRcX^]XbU^aTRPbcc^aXbTQh!_TaRT]cc^# ! c^]]TbX]!'(fWXRWXbR[^bTc^cWTaTR^aSPRWXTeTSX]!%&CWXb WXVWTa_a^SdRcX^]XbTg_TRcTSc^R^\TUa^\PR^\QX]PcX^]^UX]RaTPbTS b[PdVWcTaX]VbR^\_PaTSfXcW!&'P]SPb[XVWcX]RaTPbTX]b[PdVWcTa fTXVWcb;P\Qb[PdVWcTaX]VbPaTU^aTRPbcc^QTPa^d]S ('\X[[X^]P__a^gX \PcT[h $_TaRT]cPQ^eTcWTTbcX\PcTSUXVdaTU^a!&'ATU[TRcX]VP] Tg_TRcTSX]RaTPbTX]Tg_^acP]SS^\TbcXRST\P]ScWT0dbcaP[XP]fTXVWcTS bP[ThPaS_aXRTU^a[P\QbXbU^aTRPbcc^aXbTQh&_TaRT]cX]!'(STb_XcT cWTWXVWTa_a^SdRcX^]c^"$$RT]cbPZX[^VaP\SaTbbTSfTXVWc FXcW_a^SdRTabTg_TRcTSc^W^[S^]c^PSSXcX^]P[TfTbU^aU[^RZaTQdX[SX]V X]!'(b[PdVWcTaX]Vb^UbWTT_PaTU^aTRPbcc^UP[[Qh &_TaRT]cc^ '$\X[[X^]QdccWT]c^X]RaTPbTVaPSdP[[hPbU[^RZ]d\QTabVa^f^eTacWT \TSXd\cTa\ATU[TRcX]V[^fTabd__[h^UbWTT_P]SX]RaTPbTSST\P]S Pb_a^SdRTabQTVX]c^aTbc^RZcWT0dbcaP[XP]fTXVWcTSbP[ThPaS_aXRT^U \dcc^]XbU^aTRPbcc^aXbTQh(_TaRT]cX]!'(c^PeTaPVT 'RT]cbP ZX[^VaP\CWXbX]RaTPbTX]_aXRTbU^[[^fbP]TbcX\PcTS! _TaRT]caXbTX]cWT PeTaPVT_aXRT^U\dcc^]X]!&'PbbTPb^]P[R^]SXcX^]bbW^fbXV]b^U X\_a^eT\T]cX]TPa[h!'
PdbcaP[XP]f^^[P]S[P\Q _a^SdRcX^] $ !$ &$ $
Ã^RZaTQdX[SX]VX]aTb_^]bTc^\^aTUPe^daPQ[TaTcda]b 8\_^acP]cUPRc^abcWPcPaT[XZT[hc^STcTa\X]TcWTcX\X]VP]STgcT]c^U Tg_TRcTSU[^RZaTQdX[SX]V^eTacWT_a^YTRcX^]_TaX^SPaTbTPb^]P[R^]SX cX^]bP]ScWTaT[PcXeTaTcda]bUa^\ePaX^dbT]cTa_aXbTb7XVWf^^[_aXRTb ^eTacWT_PbchTPaR^\QX]TSfXcWbca^]VbP[ThPaS_aXRTbU^a[P\QbP]S
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa'
X]STg ('! '"
('' '(
f^^[ [P\Q
((# ($
!
!% &
bWTT_\TPc
bWTT_PaTTg_TRcTSc^_a^eXSTP]X]RT]cXeTU^a_a^SdRTabc^QTVX] aTQdX[SX]VU[^RZbX]!'(P]SQTh^]SCWXb_a^YTRcTSU[^RZaTQdX[SX]VXb aT[XP]c^]X\_a^eTSbTPb^]P[R^]SXcX^]b^eTacWTaT\PX]STa^U!&'P]S X]!'(U^[[^fTSQhPbbd\TSPeTaPVTbTPb^]b^dcc^! ! " FXcWfXSTb_aTPSaPX]UP[[bX]RT=^eT\QTa!&_PacXRd[Pa[hX]cWTTPbcTa] bcPcTbbP[ThPaSbWTT__aXRTbWPeTQTVd]c^X]RaTPbTbdVVTbcX]VcWPc b^\T_a^SdRTabWPeTP[aTPShbcPacTSaTQdX[SX]VU[^RZbBWTT_b[PdVWcTa XbTg_TRcTSc^aT\PX][^f^eTacWTaT\PX]STa^U!&'Pb_a^SdRTab aTcPX]TfTbc^aTQdX[SU[^RZb7^fTeTaX]cWTbW^accTa\cWTTgcT]c^UU[^RZ aTQdX[SX]VXb[XZT[hc^QTR^]bcaPX]TSQhP]X]RaTPbTX]PaTPb_[P]cTSc^Ra^_b fWTaTUTPbXQ[TPb_a^SdRTabPX\c^\PgX\XbTX]R^\TbPUcTacWT!%P]S !&Sa^dVWchTPab >eTacWT\TSXd\cTa\cWTbWTT_U[^RZXb_a^YTRcTSc^X]RaTPbTSTb_XcT Ra^__X]VPaTPbaT\PX]X]VaT[PcXeT[hWXVWCWTbXiT^UcWT0dbcaP[XP]bWTT_ U[^RZXb_a^YTRcTSc^X]RaTPbTbcTPSX[hUa^\'$\X[[X^]X]9d]T!'c^ Pa^d]S(%\X[[X^]Qh9d]T! "
bWTT_\TPc_a^SdRcX^]c^X]RaTPbT >eTacWT_PbccfT]chhTPabcWTaTWPbQTT]PbWXUcX]cWTR^\_^bXcX^]^UcWT 0dbcaP[XP]bWTT_U[^RZfXcWP]X]RaTPbTX]cWT_a^_^acX^]^UTfTbX]cWT U[^RZY^X]TSc^\TPcQaTTSaP\bATU[TRcX]VcWXbRWP]VT[P\Q_a^SdRcX^] WPbQTT]X]RaTPbX]VTeT]cW^dVWcWTbWTT_U[^RZWPbQTT]STR[X]X]V3Tb_XcT P]Tg_TRcTSaTR^eTah^U_a^SdRTaX]cTaTbcX]f^^[_a^SdRcX^]X]aTb_^]bT c^VT]TaP[[hUPe^daPQ[T_a^b_TRcbU^af^^[_a^SdRcX^]^U[P\QP]S\dcc^] PaTTg_TRcTSc^aXbT^eTacWT\TSXd\cTa\;P\Q_a^SdRcX^]Xb_a^YTRcTS c^aTPRW##c^]]TbQh! ! "PQ^dc&_TaRT]cWXVWTacWP]cWTaTR^aS _a^SdRTSX]!%&ATU[TRcX]VTg_TRcPcX^]bcWPc[P\Q_a^SdRcX^]Xb [XZT[hc^aXbTP[Xcc[T\^aTaP_XS[hcWP]ST\P]SbP[ThPaS_aXRTb^U[P\QbPaT _a^YTRcTSc^SaXUc[^fTaX]aTP[cTa\bc^PeTaPVTPa^d]S!%$RT]cbPZX[^VaP\ X]!&'S^[[PabQh! ! " 0bbd\X]VX\_a^eTSbTPb^]P[R^]SXcX^]bbWTT_b[PdVWcTaXbU^aTRPbcc^ UP[[X]!'(Pb_a^SdRTabaTcPX]PSSXcX^]P[TfTbc^aTQdX[SU[^RZbP]S fTcWTabc^cPZTPSeP]cPVT^UcWTWXVWf^^[_aXRTb>eTacWTaT\PX]STa^U cWT^dc[^^Z_TaX^SbWTT_b[PdVWcTaX]VbPaTU^aTRPbcc^X]RaTPbTQdcc^ aT\PX][^faT[PcXeTc^aTRT]chTPabBP[ThPaS_aXRTbU^a\dcc^]PaT_a^YTRcTS c^UP[[VaPSdP[[h^eTacWT\TSXd\cTa\Pbbd__[hX]RaTPbTb1h! ! "bP[T hPaS_aXRTb^U\dcc^]PaT_a^YTRcTSc^PeTaPVTPa^d]S #$RT]cbPZX[^VaP\ X]!&'S^[[Pab8][X]TfXcWU^aTRPbc[^fTacda]^UU^UbWTT_\dcc^] _a^SdRcX^]XbU^aTRPbcc^UP[[X]!'(QdccWT]c^X]RaTPbTVaPSdP[[hc^P _a^YTRcTS! c^]]TbQh! ! "PbcWTbXiT^UcWTU[^RZX]RaTPbTb
'!PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa
bWTT_\TPc
bca^]VTg_^acST\P]SU^a[P\Q db[P\QX\_^acb
C^cP[0dbcaP[XP][P\QTg_^acbPaT_a^YTRcTSc^X]RaTPbTX]c^cP[Qh&_Ta RT]c^eTacWT^dc[^^Z_TaX^Sc^ &$c^]]TbQh! ! "CWTVa^fcW X]bWX_\T]cbfX[[aTU[TRcbca^]VST\P]SUa^\ZTh\PaZTcbP]SX]RaTPbTS PePX[PQX[Xch^U0dbcaP[XP][P\Q0dbcaP[XPºb[PaVTbcTg_^ac\PaZTcU^a[P\Q R^]cX]dTbc^QTcWTD]XcTSBcPcTbfWXRWPRR^d]cTSU^aPa^d]S!'_TaRT]c ^U0dbcaP[XP][P\QbWX_\T]cbX]!%&4g_^acb^U0dbcaP[XP][P\Qc^ cWTD]XcTSBcPcTbWPeTQTT]X]RaTPbX]VbcTPSX[h^eTacWT_PbccfT]chhTPab STb_XcTWXVW_aXRTbPbDBS^\TbcXR_a^SdRcX^]WPbSTR[X]TS
#
"
!
=TfITP[P]S[P\QR^\_TcTbfXcW0dbcaP[XP][P\QX]cWTDB\PaZTc 7^fTeTa[P\QX\_^acbUa^\0dbcaP[XPWPeTR^]cX]dTSc^X]RaTPbTTPRWhTPa fWX[TDBX\_^acbUa^\=TfITP[P]SWPeTaT\PX]TSaT[PcXeT[hU[Pc^eTacWT _PbccWaTThTPab
Zc ((& ('
0dbcaP[XP]Tg_^acb^U[P\Qc^cWTD]XcTSBcPcTbPaT_a^YTRcTSc^R^]cX]dTc^ X]RaTPbT^eTacWT\TSXd\cTa\aTU[TRcX]Vbca^]VST\P]SP]ScWTTUUTRcb ^]R^\_TcXcXeT]Tbb^UP]Pbbd\TSST_aTRXPcX^]^UcWT0dbcaP[XP]S^[[Pa
!
!" #
!% &
PdbcaP[XP ]TfiTP[P]S
bWTT_\TPc^dc[^^Z unit
2005 -06
2006 -07
saleyard price for sheep – nominal – real a
Ac/kg Ac/kg
175 185
saleyard price for lambs – nominal – real a
Ac/kg Ac/kg
retail price for lamb – nominal – real a sheep numbers b slaughterings sheep lamb production c mutton lamb consumption per person mutton lamb exports mutton exports d lamb exports d – to united states lamb export value d – nominal – real a live sheep exports
2007 -08 f
2008 -09 z
2009 -10 z
2010 -11 z
2011 -12 z
2012 -13 z
136 140
165 165
180 175
176 167
172 159
168 152
165 145
347 367
326 335
332 332
355 345
345 328
330 306
315 285
300 265
Ac/kg Ac/kg
1 216 1 286
1 220 1 254
1 230 1 230
1 260 1 226
1 270 1 206
1 280 1 186
1 290 1 166
1 300 1 146
million
91
86
85
87
90
92
94
96
’000 ’000
11 830 18 666
13 271 20 158
10 200 19 500
8 500 19 800
9 000 20 100
9 400 20 400
9 700 20 700
10 000 21 000
kt kt
244 382
271 413
215 404
180 412
190 420
198 426
205 434
210 440
kg kg
2.6 10.1
2.5 10.9
2.3 10.0
2.2 10.1
2.2 10.2
2.2 10.2
2.1 10.4
2.1 10.5
kt kt kt
145 143 39
162 150 41
142 160 44
108 163 46
114 167 48
120 170 50
126 172 51
130 175 52
$m $m ’000
767 812 4 248
748 769 4 138
830 830 3 750
900 876 3 700
905 859 3 800
910 843 4 000
890 804 4 100
875 772 4 200
a In 2007-08 Australian dollars. b At 30 June. c Carcass weight. d Fresh, chilled and frozen, shipped weight. f ABARE forecast. z ABARE projection. Sources: Australian Bureau of Statistics; Department of Agriculture, Fisheries and Forestry; ABARE.
PdbcaP[XP]R^\\^SXcXTbe^[ $]^ \PaRW`dPacTa'"
_XV\TPc
STbcX]PcX^]b^UPdbcaP[XP][P\Q !%&
4g_^acbc^cWTD]XcTSBcPcTbPaT_a^YTRcTSc^aTPRW$!c^]]TbQh! ! "P] '_TaRT]cX]RaTPbT^]!&'e^[d\Tb>eTacWT_PbcUXeThTPabcWT eTacWT^dc[^^Z_TaX^SV[^QP[ST\P]SU^aSPXah_a^SdRcbXbTg_TRcTSc^ Va^fbcTPSX[hfXcWUXa\TR^]^\XRVa^fcW_a^YTRcTSU^aP[[\PY^aX\_^acTab ^USPXah_a^SdRcb7^fTeTaUa^\Pa^d]ScWT\XSS[T^UcWT^dc[^^Z_TaX^S Va^fcWX]_a^SdRcX^]X]\PY^aTg_^acX]VR^d]caXTbXbU^aTRPbcc^TgRTTS Va^fcWX]f^a[SX\_^acST\P]SP]ScWXbXbTg_TRcTSc^_dcS^f]fPaS_aTb bdaT^]_aXRTb
f^a[S\X[Z_a^SdRcX^]Va^fcWc^QTR^]bcaPX]TS 8]!&f^a[SR^f\X[Z_a^SdRcX^]a^bTQh %_TaRT]cc^Pa^d]S$& \X[[X^]c^]]TbCWT\PY^aR^]caXQdc^abc^cWXbaXbTQhe^[d\TfTaT2WX]P d_ _TaRT]ccWTD]XcTSBcPcTbd_!_TaRT]c1aPiX[d_%_TaRT]c P]S8]SXPd_"_TaRT]c0\^]VcWT\PY^aSPXahTg_^acTab=TfITP[P]S _a^SdRcX^]X]RaTPbTSQhP[\^bc"_TaRT]c4da^_TP]D]X^]_a^SdRcX^] VaTf\PaVX]P[[hfWX[T_a^SdRcX^]UT[[Qh$_TaRT]cX]0dbcaP[XP F^a[SSPXah_a^SdRcX^]X]!'(P]S!( XbU^aTRPbcc^Va^fPc PaT[PcXeT[hb[^faPcT