10 June 2008 |
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| Mixed financial performance for beef farms in 2007-08 |
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| Financial performance of beef producers in northern Australia is projected to improve in 2007-08 but to remain subdued for producers in southern Australia, according to a new ABARE report. The report, Australian Beef: Financial performance of beef farms 2005-06 to 2007-08, was released today by ABARE’s acting Executive Director, Karen Schneider. “Above average seasonal conditions in 2007-08 in most parts of northern Australia are projected to allow beef producers to expand cattle numbers and increase farm incomes,” said Ms Schneider. “In southern Australia, good spring and summer rainfall improved pasture growth and encouraged some producers to undertake some herd rebuilding. However in many areas the return to drier conditions since summer has again slowed herd rebuilding,” Ms Schneider noted. On average, farm cash incomes for beef producers in northern Australia are projected to increase to more than $127 000 in 2007-08. While the average farm cash income for producers in southern Australia is expected to remain around $45 000 in 2007-08, farm business profits are projected to improve slightly as a result of small increases in cattle numbers as a result of lower rates of turnoff. Capital investments in the beef industry have been high during the past eight years and should underpin stronger future industry performance in the future. |
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| For media interviews and comment, please contact Peter Martin, Senior Economist, Farm Economic Analysis Section on 02 6272 2047 or email pmartin@abare.gov.au For free downloads of the report Australian Beef: Financial performance of beef farms 2005-06 to 2007-08 please visit the ABARE website www.abare.gov.au or phone Publications on 02 6272 2010. For general media enquiries, contact Maree Finnegan, Media Coordinator on 02 6272 2260, mobile 0417 689 567 or email mfinnegan@abare.gov.au |
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