00:00We've just had the second session at the ABARES Outlook conference looking at
00:06forecasts for various commodities for the coming year after a fairly much
00:11bonanza year for farm incomes and farm production in Australia this year. This
00:17is a bit of a summary of what the various commodity economists are looking
00:22at for the year ahead from Outlook. Over the medium term we are expecting
00:27popping to shift back a little bit from the very high results that we've seen
00:30over the last four years but we're still expecting to have good volumes produced
00:34and plenty of export demand for all of our grains and oilseeds products. We've had a
00:39really good year in 25-26 so the next financial year we're expecting that to
00:43ease off slightly so for the average 4-acre farm profit to be around $126,000.
00:48We're forecasting this year in 25-6 for the value of livestock production to hit a
00:52record around $23 billion. What we're expecting over the medium term
00:56sort of two, three, five years is that growth to really maintain and potentially
01:01even exceed that number if supply and demand seasonal conditions go our way.
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