The time is right for sheep producers to capitalise on record high lamb and wool prices by investing in genetic and big data technologies which are continuing to come down in price.

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Scanned in lamb ewe hoggets sold to a top price of $295 while young breeders were sought after and topped at $252 on AuctionsPlus last week.

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The AWEX EMI closed on 1981c – down 13c at auction sales in Australia last week.

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Australian Wool Innovation welcomed the release of the 'Independent Review of Australian Wool Innovation' that examined the company’s performance and governance for the period 2015-2018.

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Lamb prices look to be stabilising after unprecedented growth, but it remains a challenge to gauge what the future holds.

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With wool prices still at record highs despite last week’s drop, agricultural commodities risk management specialist Southern Aurora Markets is urging growers to consider hedging by forward selling a portion of their clip as a buffer against a likely price downturn driven by declining demand.

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Merino ewes sold from $102 to $201 to average $144 on AuctionsPlus last week.

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Scattered rainfall combined with tighter supply has boosted already-resilient saleyard prices, with the Eastern States Trade Lamb Indicator (ESTLI) reaching 721¢/kg carcase weight (cwt) on Tuesday, 9¢/kg higher than the previous record set on Friday.

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Scattered rainfall combined with tighter supply has boosted already-resilient saleyard prices, with the Eastern States Trade Lamb Indicator (ESTLI) reaching 721¢/kg carcase weight (cwt) on Tuesday, 9¢/kg higher than the previous record set on Friday.

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The AWEX EMI closed the week on 1994c, down 62c at auction sales in Australia this week.

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Medium and heavy trade weights were $5 to $6 dearer on the finished lambs and sold from $134 to $188/head at SELX this week.

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The sheep and wool industry’s young guns were firmly in the spotlight at the MerinoLink annual conference last week, with the innovative “Hour of Power”.

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