World at Work: Australia

By Jane Hwang - 2013-02-14T18:06:19Z

Photograph by Carla Gottgens/Bloomberg

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In this week's "World at Work," a weekly slideshow featuring economic events from around the world through the photography of Bloomberg News, photographer Carla Gottgens looks at Border Leicester sheep in Lancefield, Australia.

There is scope for considerable volatility in wool prices given the uncertain global economic and financial backdrop, National Australia Bank said in an e-mailed report on Jan. 25. Australia is the largest supplier of apparel wool in the world, with more than 75 percent of its clip going to China, according to the Economist Intelligence Unit. Even with a weaker demand from European Union countries, wool production is expected to remain unchanged from last year. National Australia Bank's January 2013 Rural Commodities Wrap sees retail trends in the U.S. as encouraging, but ongoing fiscal uncertainty remains a large concern.

Left, Border Leicester sheep stand in a holding pen at a shearing shed near Lancefield on Feb. 8, 2013.

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