Australian broadacre farm incomes at record high
ABARES Economist Tom Jackson said the forecast followed record winter grain production, high prices for beef cattle and good prices for sheep, lamb and wool.
“When broadacre farms are separated into the beef, sheep and cropping sectors, it’s clear that farms in all three of these sectors have had a very good run in the past few years,” Mr Jackson said.
Average farm cash income for cropping farms is forecast to rise 25 percent to $398,000 per farm in 2016–17.
“Farm cash income is expected to rise 27 percent for sheep farms to average $133,000 per farm, and 2 percent for beef farms to average $163,000 per farm. ■