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.

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.

Agricultural market prices - Price indicators

Line graph showing the Western Young Cattle Indicator for WA from 2013-2017.

 

Data source: Meat and Livestock Australia

 

Line graph of the annual price and yield of canola crops grown in Western Australia from 1992-2017.

 

Data source: ABARES Rural Commodities data

 

Line graph of the annual price and yield of wheat crops grown in Western Australia from 1973-2017.

 

Data source: ABARES Rural Commodities data

 

Line graph of the WMI and number of sheep shorn in Western Australia from 2006-2017.

 

Data source: ABARES Rural Commodities data

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