Some of their input bills have more than doubled, but these young farmers are confident about the coming season.
Young Victorian dairy farmers Melanie and Paul Ackerley are bucking a range of industry trends on their farm, 160 kilometres south-west of Melbourne.Farmgate milk, sheepmeat, beef, and grain prices are all at high levelsThe dairy industry is shrinking. It has lost 20 per cent of its farmers in the five years since the Ackerleys bought their farm in 2017.
The national commodity forecaster ABARES projected average dairy farm incomes to rise 35 per cent to $338,000 per farm in 2021-22, and again next year, thanks to higher farmgate milk prices. And with wheat at $450/t Ms Warne could see the rationale in paying $1,300/t for fertiliser this year. "For instance, last year I paid on average $750/t for urea for the farm and I thought that was very dear."
Saleyard prices are expected to decline in the coming 12 months, and ABARES estimates the value of beef and sheepmeat exports to drop by around one per cent to $25 billion in 2022-23. In the 12 months to February 2022 its members lent $4.3 billion to agriculture, forestry, and fishery businesses, a 30 per cent rise on the previous 12 months.
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