THE sheep meat trade is tipped to meet unprecedented value in 2017, if exports continue on current trends.
That was the message delivered by Department of Agriculture and Food WA (DAFWA) research officer Kate Pritchett at the WAFarmers 2017 annual conference last week.
Ms Pritchett said there had been strong growth in the sheep meat industry over the past three years.
"The price has increased even as the volume has increased, so demand growth has exceeded supply growth," she said.
"The forecast for 2016/17 looks like it's going to reach unprecedented levels in excess of $380 million, that's due to both the volume being high and prices being strong."
She said the wool industry had shown similar growth over the past decade.
"In 2016/17 it is projected, using year-on-year trends, to rise in both volume and price, reaching the highest total value experienced in the past 10 years," Ms Pritchett said.
"It is currently forecast to reach a total in excess of $600m if it continues on its trajectory."
According to the Australian Bureau of Statistics (ABS), the WA sheep flock sits at 13.8m and contributes 46 per cent of the gross value of agricultural production of all livestock industries in WA.
Ms Pritchett said there was a great opportunity for continued growth of the WA sheep industry, thanks to its proven track record of profitable, internationally-competitive production.
"Our prices are strong and our export demand is growing," she said. "Increased productivity will help take advantage of these opportunities and this can be done through increasing lambing efficiency, investing in technology or looking to alternative investment models.
"Overall the general outlook for the sheep industry is one of positivity."