ABARE expects higher beef revenues
According to the Australian Bureau of Agricultural and Resource Economics (ABARE), the country’s beef producers should see revenues rise this year.
The bureau believes average revenues should increase as a result of better weather and higher slaughter numbers, particularly in northern Australia.
Despite a 14% increase in farm costs, ABARE expects average revenues to rise 47% compared with the previous year’s revenues. It predicts rises for small, medium and large farms in northern Australia, although it expects very large farms (those with more than 5,400 head) to see a decline in revenues because of higher livestock, food, fuel and labour costs.
Revenues are also expected to rise in southern Australia. ABARE is expecting average income for southern farms to rise as much as 59%, with increases across farms of all sizes.
