Business
Western Queensland wool country still fighting to bring wool back 30 years on from the industry crash – ABC News
When the wool market crashed in 1991, the industry was left scrambling trying to work out what to do with a stockpile of 4.7 million bales of wool.
Thirty years ago, Australia’s wool industry was on the brink of disaster.
Key points:
- Australia’s wool industry crashed in 1991 which led to an oversupply of wool
- As a result, Australia had a stockpile of 4.7 million bales of wool in storage
- Wool growers were forced to shoot their sheep because of the amount of wool already on the market
Overconfidence in the market in the mid 1980s saw the reserve price rise to 830 cents a kilogram.
As wool growers increased production rates, the national stockpile…
Continue Reading
-
Noosa News20 hours agoShared prison toaster not discrimination – Proctor
-
Noosa News15 hours agoHundreds of pigs die as Andgar Proprietors piggery catches fire with two sheds burning for over 12 hours
-
Noosa News15 hours ago81-year-old charged over Gold Coast euthanasia ring accused of using fake whale charity to get lethal drug
-
Noosa News15 hours agoQueensland police release vision of pair accused of violent carjacking on Sunshine Coast