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Higher prices deliver for dairy farmers
15 Sep 2008
Financial performance of Australian dairy producers improved in 2007-08 in the wake of higher milk prices according to a new ABARE report. Farm cash incomes for dairy producers in Australia are estimated to have more than tripled to average more than $110,000 in 2007-08, while average farm business profit increased to nearly $24,000, up from a loss of $39,400 in 2006-07. Dairy producers in the Northern Victoria and Riverina region are estimated to have recorded an average farm cash income of $66,000, some 40 per cent below the national average, and were the only region to record a farm business loss in 2007-08. The rise in rural property values in recent years has enabled many dairy farms to maintain relatively high equity, offsetting the effects of rising debt on farm business balance sheets.
ABARE, 15/09/2008
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