{"id":190531,"date":"2017-09-20T16:39:22","date_gmt":"2017-09-20T06:39:22","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=190531"},"modified":"2020-08-13T17:18:54","modified_gmt":"2020-08-13T07:18:54","slug":"farm-production-to-fall-after-record-highs","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/09\/20\/farm-production-to-fall-after-record-highs\/","title":{"rendered":"Farm Production To Fall After Record Highs"},"content":{"rendered":"
\"\"<\/a>
ABARES Chief Commodity Analyst Peter Gooday (Photo: ABARES)<\/figcaption><\/figure>\n

September 20, 2017<\/strong><\/p>\n

The gross value of Australian farm production is forecast to fall almost 9 per cent to $58 billion in 2017\u201318, primarily reflecting a decline in crop production, according to the Agricultural Commodities, September quarter 2017 report.<\/p>\n

ABARES Chief Commodity Analyst Peter Gooday said the outlook had been affected by mixed seasonal conditions.<\/p>\n

\u201cThe fall in the total value of farm production is driven by a forecast decline of 39 per cent in total winter crop production, as yields fall from the record highs achieved last year,\u201d he said.<\/p>\n

\u201cThis is around the 10-year average for winter crops to 2015\u201316, but there is substantial variation in crop prospects across the country.<\/p>\n

\u201cFor livestock we are expecting a 1 per cent rise in the value of production.<\/p>\n

\u201cCattle slaughter is forecast to rise after two years of declining turn-off, however prices are expected to fall as domestic supply increases and we face increased competition in export markets.<\/p>\n

\u201cSheep and lamb prices are forecast to rise supported by restocker demand and lamb slaughter is forecast to increase.\u201d<\/p>\n

Farm export earnings are also expected to fall from last year’s highs to be 7 per cent lower at a forecast $45 billion in 2017\u201318.<\/strong><\/p>\n

\u201cThe forecast decline is driven by a 16 per cent decrease in export earnings for crops to $23 billion, reflecting lower forecast production,\u201d Mr Gooday said.<\/p>\n

\u201cExport earnings for livestock and livestock products are forecast to increase by 4 per cent to $22 billion. Income growth in Australia\u2019s major export markets is supporting demand for Australian meat, wool and dairy products.\u201d<\/p>\n

Export earnings for fisheries are forecast to remain unchanged at around $1.4 billion.<\/p>\n

In Australian dollar terms, export prices of barley, cheese, lamb, wheat, wine and wool are forecast to increase in 2017\u201318.<\/p>\n

Export prices for beef and veal, canola, chickpeas, cotton, live feeder\/slaughter cattle, sugar and rock lobster are forecast to fall.<\/p>\n