Farm cash income of lamb producing farms lower in 2014-15 – ABARES
28 July 2015
The farm cash income of slaughter lamb producing farms in 2014-15 was estimated to have decreased 8% year-on-year, averaging $166,000 per farm, according to the recently released report by ABARES; Financial performance of slaughter lamb producing farms (2012-13 to 2014-15).
According to ABARES, the overall decline was driven by lower average farm cash incomes of slaughter lamb producing farms in Victoria and WA, while average incomes in NSW, SA and Tasmania increased.
ABARES estimate that total receipts of slaughter lamb producing farms were back 6% year-on-year in 2014-15, with the increase in receipts from lambs, sheep and beef cattle not enough to offset the decline in crop receipts – which accounted for 48% of total receipts for the year. Crop receipts were reportedly lower due to decreased production and a reduction in prices for wheat, oilseeds and pulses over the last 12 months.
For specialist lamb producers*, however, ABARES estimate that total receipts lifted 5% in 2014-15, compared to the previous year. Sheep and lamb receipts reportedly accounted for 45% of total receipts for specialist producers. The report indicates that the average farm cash income for specialist lamb producing farms was 22% higher than year-ago levels, estimated at $98,300 per farm.
*For the purpose of the report, farms are classified as specialist slaughter lamb producing farms if, on average, more than 20% of total income over the three years ending 2013-14 was from the sale of lambs for slaughter.
To read the full ABARES report, click HERE.
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