Skip to main content Skip to main navigation Skip to search
ABARES

Top navigation abares

  • Department
  • Ministers
  • Media Centre
Main menu

Main navigation ABARES

  • ABARES Home
    ABARES Home
  • About
    About
  • Research topics
    Research topics
  • Products
    Products
  • Data
    Data
  • News
    News
  • Conferences and events
    Conferences and events
  • Careers
    Careers
Department of Agriculture

Breadcrumb

  1. DAFF Home
  2. ABARES
  3. Research topics
  4. Agricultural outlook
  5. June 2024

Secondary ABARES

  • Agricultural outlook
    • Agricultural Commodities Report March 2025
    • Australian crop report
      • Australian Crop Report March 2025
    • Commodities and trade data
    • Historical agricultural forecast database
    • Definitions
    • Previous reports

Agricultural Commodities Report June 2024

Decorative image

Download Full Report and Data

This report contains ABARES forecasts for the value, volume and price of Australia’s agricultural production and exports to 2024–25.

Download the full report

  • Agricultural Commodities Report – June Quarter 2024 (PDF - 3.4 MB)

Download the data

  • Agricultural Commodities: June Quarter 2024 – Outlook tables (Excel - 166 KB)
  • Agricultural Commodities: June Quarter 2024 – Statistical tables (Excel - 553 KB)

Outlook and commodity summaries

The summary sections below provide and outline of updates for the June 2024 quarter. Further information on these topics is available in the Full Report and Data section above.

Agricultural Overview infographic
  • Gross value of agricultural production forecast to rise by 2% to $84 billion in 2024–25.
  • Livestock production to increase despite better seasonal conditions, driven by strong global demand.
  • A positive winter rainfall outlook is expected to support crop production in 2024–25.
  • Lower exportable supply and easing prices for most crops to reduce agricultural export values in 2024–25.

Download this report: Overview (PDF - 3.4 MB)

Economic Overview infographic
  • Global economic prospects to remain subdued in 2024 reflecting sluggish consumption growth.
  • Strong population and income growth in Asia to support aggregate food consumption over the outlook.
  • The Australian Dollar is assumed to appreciate over the medium term.
  • Global supply chain disruptions a risk for higher farm input prices.

Download this report: Economic Overview (PDF - 3.4 MB)

Decorative image
  • Improved climatic conditions have increased Australian summer 2023–24 crop production estimates compared to those released in the March 2024 Agricultural Commodities Report.
  • Average to above average summer and autumn rainfall across much of New South Wales and Queensland has provided a close to ideal start to the 2024–25 winter cropping season for those areas.
  • In contrast, low soil moisture level and limited autumn rainfall in Western Australia, South Australia and western Victoria has seen a large proportion of the 2024–25 winter crop sown dry.
  • Average to above average rainfall forecast for June to August 2024 is expected to boost production for many of the world’s major grain- and oilseed-producing regions in 2024–25.

Download this report: Seasonal Conditions (PDF - 3.4 MB)

Outlook for Crops infographic
  • Value of Australian crop production to increase by 2% to $48.1 billion in 2024–25.
  • Value and volume of Australian crop exports to fall with falling prices and exportable supplies.
  • Australian crop production to increase in 2024–25 despite mixed start to winter cropping season.
  • World prices to ease with rising supply, but likely to remain elevated.

Download this report: Outlook for crops (PDF - 3.4 MB)

Outlook for Livestock infographic
  • Value of production for livestock and livestock products to rise by 3% to $35.4 billion in 2024–25.
  • Global and domestic prices to rise for most livestock and livestock products.
  • Domestic production volumes of meat to rise while milk and wool fall.
  • Value of livestock and livestock product exports to rise by 2% to $30 billion in 2024–25.
  • Rising world demand for most livestock products expected to outweigh higher world supply.

Download this report: Outlook for livestock and livestock products (PDF - 3.4 MB)

Farm Performance infographic
  • Broadacre farm business profits forecast to increase by $48,000 to -$19,000 in 2024–25 driven by improving weather conditions and higher livestock commodity prices.
  • Cropping farms expected to have another good year with production outpacing easing commodity prices.
  • Livestock farms projected to face another year of negative profits despite improvements in prices.

Download this report: Farm Performance (PDF - 3.4 MB)

Thanks for your feedback.
Thanks! Your feedback has been submitted.

We aren't able to respond to your individual comments or questions.
To contact us directly phone us or submit an online inquiry

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Please verify that you are not a robot.

Skip
Page last updated: 04 December 2024

We acknowledge the continuous connection of First Nations Traditional Owners and Custodians to the lands, seas and waters of Australia. We recognise their care for and cultivation of Country. We pay respect to Elders past and present, and recognise their knowledge and contribution to the productivity, innovation and sustainability of Australia’s agriculture, fisheries and forestry industries.

Artwork: Protecting our Country, Growing our Future
© Amy Allerton, contemporary Aboriginal Artist of the Gumbaynggirr, Bundjalung and Gamilaroi nations.

Footer

  • Contact us
  • Accessibility
  • Disclaimer
  • Privacy
  • FOI

© Department of Agriculture, Fisheries and Forestry

Facebook X LinkedIn Instagram