Exports of the Uruguayan ovine sector reached US$ 157 million in the first eight months of the year, (Jan/August), according to the Uruguayan Wool Secretariat, SUL, which represented a 17% drop in value.
Falkland Islands farmers are being urged to plan for income reductions in the order of 15 to 25% for the season's wool production with the potential for more reductions, MLA Phyl Rendell announced in Legislative Assembly last week.
Wool prices suffered a considerable tumble during September in line with the bearish market for commodities as a result of global economic uncertainty, although values are still considerably higher than a year ago.
Falkland Islands producers have cause for celebration this season with wool prices at an all time high.