2022–23 to 2024–25
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This report provides detailed economic analysis of broadacre farm financial performance during the 2023–24 financial year. It examines the impact of seasonal conditions and price changes and provides longer-term context for current farm performance.
Recent farm performance
- The profitability of broadacre farms in Australia fell sharply in 2023–24, mainly due to lower farmgate prices for beef cattle, sheep and wool, as well as below-average rainfall in some of Australia’s key broadacre cropping regions. Average farm cash income in 2023–24 was estimated to have been $200,300 per farm
- Average broadacre farm business profit in 2023–24 decreased to $11,400 per farm, driven by both the fall in average farm cash income and a decrease in the average value of trading stocks.
- The average rate of return to capital (excluding capital appreciation) for broadacre farms at the national level was estimated to have been 0.6% per farm.
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p Preliminary estimate. y Provisional estimate. a Excluding capital appreciation. na Not available. All values are expressed in 2024–25 dollars (see methodology).
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