CROPPING

Farm incomes forecast to drop by 41 per cent

AUSTRALIAN farmers are expected to be hit in the hip-pocket this financial year, with reduced commodity prices and declines in forecast crop production predicted to slash national average broadacre farm cash incomes by 41 per cent.

Staff Writer
 Farm income is predicted to drop by 41 per cent this financial year. Photo: Mark Saunders

Farm income is predicted to drop by 41 per cent this financial year. Photo: Mark Saunders

In its latest Farm Performance Forecast, ABARES estimates average cash income for broadacre farms will drop to $197,000 per farm in 2023-24, but adds average farm incomes are likely to remain above levels...

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A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Farming Ahead team.

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