ABARES

Agricultural production value forecast to rise 6% to $99.5 billion in 25-26, driven by rising livestock and livestock product prices and steady crop production value.

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National winter crop production forecast to increase by 10% to 66.3 million tonnes in 2025–26, the second largest crop on record.

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Average percentage of crop loss/waste in 2023–24 was 20% per farm, with crop loss/waste varying significantly depending on crop type.

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Profitability fell in 2023–24, albeit from record high levels in the previous two years. The average farm cash income of dairy farms was estimated to have been $369,700 per farm.

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Profitability fell sharply in 2023–24, due to lower farmgate prices for beef cattle, sheep and wool, as well as below-average rainfall in some broadacre cropping regions.

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