Agricultural Commodities Report December 2025

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This report contains ABARES forecasts for the value, volume and price of Australia’s agricultural production and exports to 2025–26.

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Gross value of agricultural production to rise by 6% to a record $99.5 billion.
Livestock and livestock product values to rise as global demand and restocking drive higher prices.
Value of crop production to remain relatively stable as higher volumes are offset by falling prices.
Agricultural export value to rise by 4% to $78.9 billion driven by rising livestock product export prices.
Average farm business profit to rise to $227,000 driven by livestock and livestock product prices.

Total global grains and oilseeds production is expected to reach a new record high for the 2025–26.
Variable winter/spring rainfall has limited crop and pasture production prospects across parts of south-eastern Australia.
Despite this, national crop production in 2025–26 is expected to be higher than forecast in the September 2025 Agricultural Commodities Report.
Australia is expected to have close to average climatic condition during summer 2025–26.

Total value of Australian crop production to increase marginally in 2025–‍26 to $53.4 billion.
Mixed production outlook across states and crop types in 2025–‍26.
Value and volume of crop exports to increase, remaining well above the 10-year average.
World grain crop prices to fall in 2025–‍26, reflecting record global supply.

Gross value of livestock and livestock product production to increase by 14% to $46 billion in 2025‍–‍26.
Saleyard prices to rise for cattle and sheep, along with farmgate milk and wool prices in 2025‍–‍26.
Domestic production to fall for all major meat and livestock products except pig and poultry meat.
Value of livestock and livestock product exports to increase by 8% to $37 billion in 2025‍–‍26.
Strong demand in key global markets supporting Australian export shipments and prices.