Australia's combined agriculture, fisheries and forestry production is on track to reach a record-breaking $106.4 billion in 2025-26, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) December quarter reports.
ABARES Executive Director Dr Jared Greenville said agricultural production alone was expected to total $99.5 billion-the highest on record.
"These record production values are being driven by strong livestock markets and steady national crop value," Dr Greenville said.
"Livestock prices continue to strengthen on the back of firm global and domestic restocker demand, lifting the value of livestock and livestock product output even as turnoff of sheep, lambs and cattle moderates.
"Combined agriculture, fisheries and forestry export value is forecast to rise to $83.9 billion in 2025-26, setting another record. Farm export value alone is projected to reach $78.9 billion.
"Farm profitability is also expected to improve, with average broadacre farm cash income forecast to reach $227,000 per farm in 2025-26.
"Australia's national winter crop outlook remains robust, with production on track to reach 66.3 million tonnes-the second-largest winter crop on record.
"Harvest is now well underway across all states, with significantly above-average yields reported in northern New South Wales, Queensland and Western Australia. However, some parts of south-east Australia received a dry spring which adversely impacted yields in those areas.
"These latest forecasts highlight the continued strength, resilience and global competitiveness of Australia's agriculture, fisheries and forestry sectors as they head into 2026."
