The wool industry is bracing for further falls in fresh wool stocks with the latest figures still showing falling production.
According to the Wool Production Forecasting Committee, New South Wales is facing the biggest drop with South Australia the only state to record an increase in fresh wool.
Chairman Dr David James says it will be some time before recent rains flow through to better conditions for growers.
"That probably wont start to translate until the spring conditions later in the year. We had a close look at the bureau of meteorology maps, the state that concerns us the most is Western Australia because there's been really no change in the conditions there it looks as though that drought is continuing in Western Australia," he said.
And despite sharp falls in wool prices earlier in the week, the eastern market indicator came back up 10 cents yesterday, finishing at 931 cents a kilogram clean.
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