A jump in quantity together with a weaker US dollar punctured the wool market's balloon.
Victorian Merino breeder Ricky Luhrs says the consistent money for sheep producers is in protein, rather than exclusive wool production.
WA woolgrower Andrew Scanlon has done the math and says his Merino gross margin beats that of meat sheep breeds.
Aussie sheep farmers leading the world in animal welfare practices in the face of criticism from animal rights groups.
Queensland's last small stock export processor is hoping western Queensland graziers are fair dinkum about using their exclusion fences to boost sheep numbers when the season recovers.
Malcolm Kater, chairman of Egelabra stud, Warren, says too many sheep handlers at Merino shows look "daggy".