In this paper the results of a situation analysis of the Australian venison industry are presented from a study commissioned as part of the development process of an endorsed strategic plan for the Australian farmed venison industry. An extensive literature review, combined with in depth interviews with industry participants, revealed that the Australian venison industry is currently in an extended slump, characterised by a lack of viability within the industry. This lack of viability is due to many factors including, a decline in the number of large scale producers, reduced slaughter and production levels, historically low farm gate returns and very low demand for venison in the domestic market. A significant decline in export demand for venison has also affected the viability of the Australian industry.