The price of livestock is set to tick Australia’s agriculture, fisheries and forestry production value to a record of more than $100 billion.
Beef, lamb and milk products have boosted overall agriculture sector production with this financial year’s forecast a good omen for producers around the nation, the federal government’s commodities forecaster says.
However, crop production value is set to fall over the next 12 months following rainfall through July in South Australia and Victoria.
There are also concerns for southern NSW due to a slow start to the winter cropping season and relatively low soil moisture levels.
The Australian Bureau of Agricultural Resource and Economics and Sciences, released its commodities report for the 2025 September quarter on Tuesday.
It shows livestock and livestock product values will rise due to “robust” global demand and re-stocker activity driving higher prices.
The bureau’s executive director said the new record value was mostly down to livestock.
“We’ve seen high prices lately for both livestock and animal products, like beef, lamb and milk,” Jared Greenville said.
“This has boosted the value of livestock production to $41.6 billion, helping to drive overall agriculture sector production value to a forecasted $94.7 billion, which would also be a record.”
Australia’s gross gross agricultural production is forecast to rise by $685 million in the financial year.
Livestock and livestock product values are forecast to rise by $1.1 billion in 2025–26.
Lamb and sheep slaughter are up $500 million, milk $400 million and cattle $200 million.
Pigs, poultry slaughtering and egg production have risen by $200 million as rising domestic production volumes “more than compensate for slightly lower prices for poultry meat”, the report said.
But on the flip side, total crop production value will decline year-on-year, with lower domestic prices more than offsetting a small rise in output volume.
“While declining somewhat from 2024–25, if realised, the forecast value of crop production would be the third highest on record,” the report said.
“Favourable seasonal conditions in winter, combined with a positive spring outlook, will support strong production volumes.”
Agriculture, Fisheries and Forestry Minister Julie Collins said the record result stems from the hard work, resilience and skill of farmers working collaboratively with government.
“The continued growth in our agriculture, fisheries and forestry sector is good for our farmers, it’s good for our regional economies, and it’s good for our trade relationships,” Ms Collins said.
“This record forecast is not only a result of increased demand for our world-class products, but what you can achieve when government works with industry to deliver for them.”
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