2013/2014 Livestock Farm Monitor Report released
October 27, 2014
Livestock Farm Monitor Project
The Livestock Farm Monitor Project analyses the financial performance of participating livestock farms across Gippsland, South West and Northern Victoria, delivered jointly by DEPI and Rural Finance.
The project has a 40 year history in Victoria, providing decades of livestock farm performance information and comparative data for the livestock industry, Government, and researchers to make improved planning and management decisions.
The project aims to:
- monitor trends in farm production and profitability
- provide benchmarks for livestock businesses in the project areas
- evaluate the differences between top performers and other farms
- provide feedback to farm participants
- provide a historical dataset of farm comparative analysis information.
The project's report details the financial and production performance of participating livestock farms and recognises geographic and industry trends. The data is independent and rigorous and does not identify participating farms.
The report gives livestock farmers the opportunity to make objective comparisons against similar farms in their own region. These comparisons can identify areas where farmers can potentially make improvements that can lead to increased efficiencies
2013-14 Victorian Livestock Farm Monitor Report
Overall Victorian livestock farm profitability increased from 2012/13 to 2013/14 according to the latest Livestock Farm Monitor report. Average return on assets doubled from 1% in 2012/13 to 2% in 2013/14. Additionally gross farm income increased from $484/ha to $569/ha, return on equity increased from -1% to 1% and earnings before interest and tax (EBIT) increased from $9/ha to $42/ha.
The increased profitability was mainly a result of improved seasonal conditions. This allowed an increase in stocking rates and more beef, lamb and wool production per hectare, as well as reduced expenditure on supplementary feeding and agistment. Increased lamb and beef prices also contributed to improved performance, although wool prices remained soft.
The improvement in profitability was seen across all regions.
To download the full report click here.