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Prime lamb producers gain ground
30 Jun 2004
Lamb producers' incomes remained buoyant during the drought and are set to rise, according to the Australian Bureau of Agricultural and Resource Economics. However, beef producers' incomes were slashed in half by the drought: farm cash incomes for specialist beef producers fell by $45,380 in 2002-2003 to $34,700.
In the same period, average cash incomes for specialist lamb producers totalled $79,400, up from $76,120 in 2001-2002. Incomes rose despite higher spending on fodder.
ABARE expects prime lamb producer incomes to reach an average of $91,000 per farm this year and said their strong financial position will allow them to expand their businesses, despite reduced breeding ewe numbers.
Overall, sheep numbers fell by about 8 per cent in 2002-2003 to 98 million. Beef cattle numbers fell by about 5 per cent.
The Age, 30/6/04.
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