Mixed financial performance for beef farms in 07-08
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 ABARE's Australian Beef: Financial performance of beef farms 2005-06 to 2007-08 report, commissioned on behalf of the industry and MLA and released on 10 June 2008.
“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 Karen Schneider, acting Executive Director, ABARE.
“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.
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Slaughter lamb producers ready to expand production
Slaughter lamb producers are well placed to expand production in response to strong export demand and high prices, according to ABARE's Australian Lamb: Financial performance of slaughter lamb farms, 2005-06 to 2007-08, report which was released on 5 June by ABARE’s acting Executive Director, Karen Schneider.
“In 2006-07, production of slaughter lambs was adversely affected by drought and reduced irrigation water availability,” Ms Schneider said.
With farm output constrained and costs rising, slaughter lamb producers of all scales recorded their largest farm business losses, in real terms, since ABARE started collecting detailed information on slaughter lamb production.
“Improved seasonal conditions in 2007-08 are projected to result in many producers realising a significant improvement in farm cash income, as receipts rebound and costs fall,” Ms Schneider said.
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