Australia’s sheep industry has been navigating a delicate balance between flock rebuilding and liquidation throughout 2024, with the Sheep Turnoff Ratio (STR) serving as a key indicator of these trends. The STR, which measures the proportion of sheep being turned off relative to the total flock, is a critical metric in determining whether the national sheep population is growing or shrinking. Historically, an STR above 14% signals flock liquidation, while a figure below this threshold suggests growth.
