Farm Financial Viability

Farm Financial Viability

A viable agricultural industry in our region is hinged upon individual farms being financially viable. There are many factors that influence the profitability of farming from market prices and management decisions to the changeable climate; however, it is clear that the consequences of struggling and failed farm ventures filter through the entire wheatbelt community.

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How can we monitor progress?

At Wheatbelt NRM Inc. we have searched for data that can help us monitor the status of farm financial viability. At a regional level we can report on farm debt: income ratio’s as an indicator of the balance between debt and income. We can also follow the market prices of major agricultural commodities.

Debt: Income ratio

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Spatial patterns in the debt: income ratio of primary producers across the Wheatbelt NRM region.

 

Data Source: Planfarm Bankwest Benchmarks Reports 2013-14, 2014-15, 2015-16, 2016-17 and 2017-2018.

Western Young Cattle - Price indicators

The monthly Western Young Cattle Indicator (WYCI) for Western Australia

Data Source: Meat and Livestock Australia.

National Trade Lamb - Price indicators

The monthly National Trade Lamb Indicator (NTLI) for Western Australia.

Data Source: Meat and Livestock Australia

Canola - Price indicators

The annual mean price of canola grown in Australia from 1992-2018.
Data Source: ABARES

Wheat - Price indicators

The annual mean price of wheat grown in Australia from 1973-2018.

Data source: ABARES

Wool - Price indicators

The Western Market Wool Indicator (WMI) in Western Australia from 2010-2018.
Data Source: ABARES

Links

Planfarm/Bankwest

http://www.bankwest.com.au/business/media-centre/agribusiness/planfarm-bankwest-benchmarks---201415-report-findings-1292534500818?yr=0&pid=1292525328970 

Meat and Livestock Australia

www.mla.com.au

Australian Wheat Board

http://www.awb.com.au/ 

Wool Market Indicators

http://www.awex.com.au/market-information/current-statistics/

Australian Bureau of Agricultural and Resource Economics and Sciences

http://www.agriculture.gov.au/abares/

 

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