WOOL’S FUTURE in WESTERN AUSTRALIA and the R&D IMPLICATIONS: A Discussion Paper
Sustained low prices for wool have resulted in a prolonged decrease in the profitability of wool production. The extent of the decline has led some farmers to question whether wool has a viable future on their farms. In many regions growers have substantially increased their area of crop and reduced their commitment to wool production. Stock numbers have declined appreciably and there is concern amongst some that the wool industry may not recover. This paper uses Western Australia as a case study for investigating the future of wool. In particular the nature and role of R,D&E in the industry is examined. The success of R,D&E is reviewed and the directions and likely impacts of future R,D&E on farm are discussed.
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"The Returns To Investment In Research On Australian Wool Production,"
Australian Journal of Agricultural Economics,
Australian Agricultural and Resource Economics Society, vol. 35(02), August.
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