There are parallels between lamb production and Saudi Arabian oil production - at some stage demand is going to run out and it is necessary to prepare for when it does.
This is according futurist Paul Higgins, of Emergent Futures, who will use his experience as a cattle vet, abattoir manager, pork farmer and an agribusiness consultant to take a look at what the future holds as the keynote speaker at LambEx, Albury, NSW, in August.
While he believed the lamb industry was in a good space at the moment, with contracted volumes and demand high, he said these commodity cycles inevitably turn down.
Mr Higgins will challenge producers and industry people to think about the next stage of production systems to improve their business through technology and shared data usage.
From Fitbits which monitor cows nutrition intake to global positioning system tracking collars that correlate to Merinos faecal egg counts, Mr Higgins will look at the need to embrace technology within the lamb production industry.
“I believe the data produced off farms in the next decade is as important as the lamb, grain or milk that will be produced,” he said.
The three key themes Mr Higgins will explore is the need for an industry wide effort to embrace technology, relentless focus on customers and production gains through data collection and sharing.
“Sometimes when prices are high, the focus on your customer slips but that reduced focus can come back to bite you when things inevitably turn around,” he said.
“(The use of shared data) is the third one that is a double win - they can base improvements in their system by collecting more data and servicing customers better while reducing costs at the same time.”
With prices buoyed, the Australian dollar low and demand for sheepmeat strong, Mr Higgins said the industry was ignoring the basics of business developments with efficiency and innovation.
“They need to think about the things they need to do to survive when that cycle turns,” he said.
“The standard strategy to improve efficiencies, meet customer demand and reduce costs will happen to people that invest in their future in the good times – they’ll survive.
“Don’t rest on your laurels and think everything will be fine.”
LambEx 2016 will take place in Albury, NSW, from August 10-12. For more information go to www.lambex.com.au
