Agricultural Commodities Report June 2026

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This report contains ABARES forecasts for the value, volume and price of Australia’s agricultural production and exports to 2026–27.

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Seasonal conditions dominate production decisions while input costs remain a source of uncertainty.
Gross value of agricultural production to fall by 5% to $98.3 billion in 2026–27.
Agricultural export value to fall by 9% to $74.8 billion driven by lower livestock product and crop exports.
While the Middle East conflict weighs on global economic growth, food demand remains resilient.
Average broadacre farm business profit to fall by 70% driven by lower revenue and higher input prices.

Total global grains and oilseeds production is expected to reach a new record high in 2025–26.
Variable summer/autumn rainfall has limited crop and pasture prospects across parts of eastern Australia.
National summer crop production in 2025–26 is expected to be lower than forecast in March.
Much of southern Australia is expected to have below average climatic condition during winter 2026.

Total value of Australian crop production to fall by 8% in 2026–‍27 to $50.9 billion.
Value of crop exports to fall by 10% to $37.0 billion as lower volumes are expected to offset higher prices.
Domestic grain prices to rise in 2026–‍27, with drier seasonal conditions and lower production volumes.
Drier seasonal outlook impacting grower decisions to a greater extent than rising fuel and fertiliser costs.

Gross value of livestock and livestock product production to fall by 2% to $47 billion in 2026–27.
Domestic prices to fall for cattle and lambs but rise for milk and wool in 2026–27.
Beef, sheep, pig and poultry meat production volumes to remain elevated in 2026–27 but dairy to decline.
Value of livestock and livestock product exports to fall by 7% in 2026–27 to $38 billion.
Slower global growth and higher inflation present headwinds to world demand for livestock products.