The report Australian Farm Survey Results, 2013-14 to 2015-16 reproduces three papers previously published in the March quarter 2016 edition of Agricultural Commodities: Farm performance: broadacre and dairy farms; Productivity in Australian broadacre and dairy industries; and Disaggregating farm performance statistics by size. The re-packaged papers provide an easy to access publication with ABARES farm surveys results in one location.
The analysis in the report is mainly based on data collected in 2015-16 from the Agricultural and Grazing Industries Survey (AAGIS) and the Australian Dairy Industry Survey (ADIS). These surveys are funded by the Department of Agriculture and Water Resources, the Grains Research and Development Corporation (GRDC) and Meat and Livestock Australia (MLA).
Farm financial performance • In 2015-16, ABARES estimates that average farm cash income will increase in New South Wales, Queensland, South Australia, Western Australia and the Northern Territory. Dry seasonal conditions in Victoria and Tasmania have reduced crop and livestock production resulting in a reduction in projected farm cash incomes.
• For Australia as a whole, farm cash income of broadacre farms is projected to average $179 000 a farm in 2015-16 - the highest recorded in the past 20 years.
• The expected increase in farm cash incomes in 2015-16 has been driven by high livestock prices - especially for beef cattle - and good winter grain production in most regions.
• It is projected that average farm cash income of dairy farms will decline by 26 per cent to an average of $113 000 a farm in 2015-16, reflecting lower farmgate milk prices, reduced production and higher fodder costs.
Productivity in Broadacre and dairy industries • Productivity in the broadacre industries grew by 1.1 per cent a year on average between 1977-78 and 2013-14. Broadacre productivity growth was driven largely by declining input use while maintaining modest output growth.
• While dairy industry productivity grew by 1.6 per cent a year on average between 1978-79 and 2013-14. This reflects strong output growth (1.3 per cent a year) and some reduction in input use (-0.2 per cent a year).
Disaggregating farm performance statistics by size • The economic performance of farms in 10 size categories is presented. For each size category, the following measures are presented: share of total output produced, total cash receipts, total cash costs, profit at full equity, total opening capital, net capital additions, rate of return, including capital appreciation and equity ratio.
• The largest 10 per cent of farms produced 48 per cent of all broadacre farm output, while the smallest 50 per cent of farms produced 11 per cent of total broadacre output.