URGENT UPDATE: Australia’s agriculture, fisheries, and forestry production is set to hit an unprecedented value of over $100 billion, driven by skyrocketing prices in livestock. New reports from the Australian Bureau of Agricultural Resource and Economics and Sciences reveal that this surge is fueled by robust global demand and increased re-stocker activity, making this a pivotal moment for the nation’s producers.
Just announced, the latest commodities report indicates that livestock production value will reach $41.6 billion, significantly contributing to the overall forecasted agricultural sector value of $94.7 billion for the financial year. This would mark a record high, heralding a promising outlook for farmers across the country.
However, it’s not all good news. Crop production values are expected to decline in the coming year due to unfavorable conditions in key agricultural regions. Experts warn of potential setbacks in southern New South Wales as the winter cropping season struggles amidst low soil moisture levels and rainfall challenges experienced in South Australia and Victoria.
Jared Greenville, the bureau’s executive director, stated, “We’ve seen high prices lately for both livestock and animal products, like beef, lamb, and milk.” With lamb and sheep slaughter projected to rise by $500 million, and milk production increasing by $400 million, the livestock sector is clearly on the upswing.
The report also highlights that despite a predicted decline in total crop production value, favorable seasonal conditions in winter and a positive spring outlook could still support strong production volumes. “While declining somewhat from 2024–25, if realized, the forecast value of crop production would be the third highest on record,” officials confirm.
Agriculture, Fisheries, and Forestry Minister Julie Collins emphasized the importance of this achievement, attributing it to the hard work and resilience of Australian farmers. “The continued growth in our agriculture, fisheries, and forestry sector is good for our farmers, it’s good for our regional economies, and it’s good for our trade relationships,” Ms. Collins remarked.
As the agricultural landscape shifts, all eyes will be on how these developments affect the market in the coming months. The agriculture sector is crucial not only for the economy but also for maintaining Australia’s high standards in global trade. With the demand for world-class agricultural products rising, stakeholders are keen to see how these factors will play out in the months ahead.
Stay tuned for further updates as this developing story unfolds and impacts the agricultural community nationwide.
