Industry Analysis & Industry Trends
The Sheep Farming industry has been in decline for the past decade, as per capita consumption of lamb and mutton has steadily shrunk. . In addition to mild demand for industry meat products, domestic wool production has declined in the past five years as textile producers increasingly chose synthetic fibers over wool. As a result, industry revenue is anticipated to decrease over the five years to 2016. Over the next five years, sheep farmers are anticipated to continue struggling from low demand for lamb, mutton and wool products.
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Industry Report - Industry Investment Chapter
Compared with the rest of the animal farming sector, the Sheep Farming industry requires a medium level of capital intensity. Data from the 2012 Census of Agriculture (latest data available) indicates the average cost of industry land and buildings to be about 30.0% lower than for the average of all animal production industries. Likewise, machinery and equipment costs are substantially lower for sheep farmers.
Labor represents a substantial cost for sheep farmers, further decreasing the industry's capital intensity; sheep are extremely labor intensive at lambing time, when ewes need to be checked up to five times daily for problems during labor... purchase to read more