Farmers cash in on high wool prices by upgrading everything plus the kitchen sink

Farmers are cashing in their wool cheques and decking out their farms with new sheds, yards, and luxuries like a new ute and kitchen for the home.

Wool fact box Australian wool industry at a glance 90 per cent of the world’s fine apparel wool is from Australia Australia has 60,000 wool growers 98 per cent of our wool is exported, 74 per cent of it to China 200,000 people are employed in the wool industry Australia has 73 million sheep 1.7m bales of wool sold in 2016/17

Source: Department of Agriculture and Water Resources

The shopping list might sound extensive, but for many growers, this years’ pay day has been a long time coming.

In 2016/2017 wool grown and sold in Australia returned $2.7 billion, and just one year later that figure has risen to $3.4 billion.

This has played into the hands of the country’s 60,000 wool growers.

New machinery

One of those wool growers is Jodi Duncan who decided that 2018 would be the year she built her new shearing shed.

Good wool prices, combined with the need for more machinery storage and safety issues in the old building have led to $500,000 investment.

Western Australian wool grower and her brother Rian and his wife Karryn have just taken over the family business, so it’s a pretty big investment for the trio.