WESTERN Australian goat meat production has plummeted by 99 per cent - to just two tonnes - in the past two years.
But the significant drop "isn't as bad as people would think" and actually indicates a period of rebuilding and transitional change, according to experts.
Meat & Livestock Australia (MLA) goat industry project manager Emily Litzow said supply numbers were down off the back of high prices and drought-induced destocking.
She said there had been a shift from largely opportunistic harvested production systems to a more semi-managed/managed production system.
"After the drought broke we started to see a bigger surge in goat farming," Ms Litzow said.
"Instead of selling their goats, people have decided to hold onto them to allow numbers to breed back up.
"They are also looking at genetic improvement and proper management rather than just harvesting what is out in the wild.
"We are just not seeing it in the slaughter numbers yet, but we anticipate we will in 12 to 18 months time."
Ms Litzow said more traditional beef and sheep farmers across Australia had taken an interest in changing their operation to goat farming, after destocking in the drier years.
She said they were enticed by good prices, as well as the fact goats browse/graze, which made them slightly more drought resilient.
"MLA benchmarking projects have indicated goat production systems can be as profitable, if not more profitable, than traditional sheep and beef production systems," she said.
"The goat farming market has been growing for quite a few years now.
"But I guess on the back of really high prices and the major drought, people are considering their options when restocking, rather than going back to what they traditionally had."
Ms Litzow said with less exclusion fencing in WA, compared to other States, the wild dog problem had also affected goat meat production.
She added that the demand for goat meat was "almost unlimited" with 97pc of all meat exported as frozen carcases and only 3pc used domestically.
"The overseas market will take as much as we can supply them, so the production system is not limited by demand at all, it is only limited by supply," Ms Litzow said.
Among those feeling the impact of the significant drop in goat supply is the largest processor of goat meat in WA, Beaufort River Meats (BRM).
General manager of processing and marketing Kel Whitehouse said BRM would process about 15,000 to 20,000 goats annually.
Mr Whitehouse said they had seen a decline of 30pc each year due to competition in the market and the wild dog problem.
He said goats were mainly procured from the Gascoyne district and the United States was the main export market for Australian goat meat.
Gascoyne Merino sheep farmers Chris and Tim Higham, Meedo station, are among farmers who decided to diversify their enterprise by farming rangeland goats.
Today, they are known for their goat meat after deciding to farm the rangeland animal for extra income in the drier seasons.
"Goats were in our environment already, so we were basically capitalising on what was already there," Ms Higham said.
"Initially, we used to harvest goats to reduce numbers so there was more feed available for the sheep.
"But then we got thinking, 'this is an unutilised resource'".
Ms Higham runs between 7000 and 8000 nanny goats at the moment, but only harvested about a quarter before the rain hit in January.
This year, Meedo Station has recorded 450 millimetres compared to 33mm the same time last year.
She said because of the wet weather conditions, it wasn't possible to complete this year's goat trapping because there was too much surface water.
"Normally we would start trapping in late October through to April/May, but we haven't been able to do that,'' she said.
"So we have only sold a quarter of our budgeted figure."
Ms Higham said goats had definitely helped with income in the dry years.
She said prices had peaked considerably and at one point reached $10.20 per kilogram.
"I think they are back to $9.60/kg now, which is incredible money,'' Ms Higham said.
"So if you are looking at a 15kg animal, that's $150 a head.
"When we first started out, 15-odd years ago, we were getting about $25, maybe up to $30 a head.
"There definitely has been a very, very positive change in prices."
Meedo station has started to introduce Kalahari Red billies to their farming operation to help breed a "heavier and faster growing" animal.
Ms Higham said she didn't want to knock the rangeland gene out of the mob, as they had adapted really well to the environment.
She said a shift in price was export driven with the majority of goats heading to the US.
"Food provenance is becoming a really big thing,'' she said.
"People want to know where their meat is coming from and the story associated with it."