The 2023/24 production season in Southern Australia kicked off with moderate rainfall followed by a wet June. A dry spring meant subsoil moisture from the 2022 season was utilised, resulting in high water use efficiency. This was captured in the SnapShot combined report, which collated data from 135 farm businesses.
Grain pricing was generally strong, however, livestock producers faced challenges due to a dip in red meat and wool prices.
Regionally, businesses in the Yorke Peninsula, Southern Mallee, Lower Eyre Peninsula, and Lower North achieved the highest levels of profitability. Where they benefited from high-value crops and efficient rainfall usage.
The rise in interest rates had an impact on net profit, particularly considering recent uplift in land values.
The report also sparked discussions on growth for some and improvement opportunities for others, emphasising the importance of data-driven management decisions.
The 15th SnapShot combined report by Pinion Advisory offers insights for businesses in South Australia and Victoria, with an invitation for others to benchmark their performance in the upcoming seasons.
Interested in benchmarking your business in 2025? Get in touch with your agribusiness consultant or Pinion Advisory to request your input sheets.
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