Get the latest insights on price movement and trend analysis of Farmgate Milk in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In financial year 2024, the Farmgate milk price for milk supplied to Fonterra was **** New Zealand dollars per kilogram of milk solid. This was a decrease from the previous year, in which the Farmgate milk price was **** New Zealand dollars per kilogram of milk solid. Fonterra Co-operative Group Limited Fonterra is a prominent dairy cooperative based in New Zealand and is one of the largest dairy companies in the world. In 2020, Fonterra secured the third position among the top 20 global dairy corporations, as measured by their market share percentage of worldwide milk production. Over the years, the company has played a pivotal role in New Zealand's economy, contributing significantly to the nation's dairy exports. In 2024, Fonterra's sales revenue declined slightly compared to the previous year. Dairy industry in New Zealand New Zealand has a thriving dairy export industry, with dairy products being a significant contributor to the country's economy. During the financial year 2024, New Zealand's dairy industry export revenue reached **** billion New Zealand dollars. Key dairy exports from New Zealand include fluid milk, butter, cheese, and milk powder, with many products finding markets in Asia, particularly China. The industry has faced challenges related to price fluctuations and international trade dynamics, but it continues to be a vital sector in New Zealand's agricultural and export landscape.

Milk rose to 17.20 USD/CWT on August 1, 2025, up 0.41% from the previous day. Over the past month, Milk's price has fallen 0.69%, and is down 15.27% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Milk - values, historical data, forecasts and news - updated on August of 2025.

The farm gate price of cow's milk in Ireland increased between the years of 2016 and 2023. From 2016 to 2017, there was a large increase of approximately 30 percent in the farm gate price. In 2023, the farm gate price was over 40 euros per 100 liters.

This statistic illustrates the average farmgate (producer) milk price in the United Kingdom (UK) from 2003 to 2015. In 2011, the average farmgate milk price was ***** pence per liter in the United Kingdom.

Dairy cattle farmers have faced a range of challenges over the past few years. They have contended with volatile weather conditions over much of the period, which have constrained production volumes and led to higher farmgate milk prices. These conditions included drought across much of the country at the start of the period. While southern Australia experienced drier-than-average conditions, northeastern Australia had to deal with floods, reducing output over the second half of 2021-22. Improving weather conditions benefited pasture conditions, leading to a hike in production. A strong increase in prices over the past few years has boosted profit margins. Domestic farmgate milk prices have risen strongly over the past few years. This trend has driven up input costs for downstream manufacturers. However, while world dairy commodity prices have been volatile, they have increased overall, encouraging greater demand from processors. A weak Australian dollar has also boosted the price competitiveness of downstream dairy products in export markets and made imported dairy products less price competitive. Revenue is expected to contract at an average annual rate of 1.9% over the five years through 2024-25, to $6.13 billion. However, a projected dip in output and a slump in the domestic price of milk as dairy product processor demand falls is expected to result in a drop in revenue of 12.4% in 2024-25. Operating conditions are set to remain volatile for dairy farmers over the next few years, but milk production is projected to dwindle overall. Even so, falling output will bolster farmgate milk prices. Demand from domestic and overseas markets is set to pick up as household incomes recover from the effects of global inflation pressures. The waning cost of inputs like stockfeed and fertiliser will support profit margins. Overall, dairy cattle farming revenue is forecast to edge down at an average annual rate of 0.1% through the end of 2029-30, to $6.08 billion.

Sources of data are uniquely defined for a member associated with the dairy cooperative society (DCS). The patronage of each member for the functioning of the society is through milk production and then supplying to society twice, daily. The data description, therefore, centers around the member identification, the quantity of milk supplied by them during each time in a day, and the quality of milk supplied. The society is responsible to maintain transparency in each transaction that a member has with the society. For milk supply, the society shares data on each transaction of the member presenting date of supply, quantity, and quality of milk. In addition, society fixes the price for each supply-based on quality. The unit price is transparently managed by the members themselves as members govern the society. This unit price is termed as farm gate price which is due to be paid to each member who pours the milk. This price fluctuates for each transaction of the member, as the member is responsible to supply quality milk and the society educates each member to maintain quality and supports each member through training, development, and supply of quality input services. During COVID-19, the farmers face critical situations in addition to managing their milk production. It was thus imperative to understand the trend of milk supplied to the DCS and price realized.

United Kingdom Dairy Market size was valued at USD 38.1 Billion in 2024 and is projected to reach USD 54.2 Billion by 2032, growing at a CAGR of 4.5 % from 2026 to 2032.

United Kingdom Dairy Market Drivers

Growing Demand for High-Quality Milk and Milk Products: Despite a slight decline in liquid milk consumption, there's continued demand for high-quality dairy, especially in categories like cheese and yogurt. Investment by Major Processors: Significant investments by major dairy processors in the UK can lead to increased efficiency and production capabilities. Rising Milk Prices: Higher farmgate milk prices can incentivize farmers to maintain or even increase production, contributing to a larger supply. Favorable Milk-to-Feed Price Ratio: When milk prices are high relative to feed costs, it becomes more profitable for farmers, encouraging higher production. Improved Weather Conditions: Favorable weather patterns lead to better forage quality and extended grazing seasons, naturally boosting milk production. Technological Advancements in Farming: Adoption of উন্নত dairy farming practices and technologies can enhance efficiency and yields. Consumer Awareness of Nutritional Benefits: Promoting the natural nutritional content of dairy milk, such as protein, calcium, and vitamin B12, can help maintain and attract consumers.

This report analyses trends in the domestic price of fluid milk. Fluid milk production can be separated into milk used for drinking and milk used to manufacture dairy products, such as cheese, yoghurt, butter and milk powder. The price used is a weighted average of the two milk types and represents the farmgate price of milk and is presented in financial years. The data is sourced from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) and is measured in Australian cents per litre.

The Dairy Product Production industry is a crucial component of the economy of the Republic of Ireland. According to data from the CSO, the industry processed 8.5 billion litres of milk in 2023. Revenue has benefitted from stable dairy product sales and growing export revenue. Farm gate milk prices, the primary production input, directly influence industry revenue. Recent fluctuations in global milk supply have created volatility in domestic milk prices. As a result of a global milk shortage, dairy prices soared in the years through 2022, boosting revenue growth. Revenue is expected to expand at a compound annual rate of 11.2% over the five years through 2024 to €5.9 billion, despite an estimated drop of 15.5% in 2024 caused by a dip in prices. Though total revenue has soared over the past five years thanks to sky high prices, volume sales have been under pressure from dairy dairy-free alternatives like oat and soy milk. Exports are a vital component of industry revenue, making up over half of Irish dairy product sales. Exports to the UK, the most crucial market for Irish processors, have been threatened by Revenue is expected to expand at a contract at a compound annual rate of 1.9% over the five years through 2029 to €5.3 billion. Dairy prices are set to drop down to more historical trends, which will slow sales growth, while processors face stiff competition from the ever-growing dairy-free alternative industry. Large players will intensify globalisation efforts to expand their reach and economies of scale, supporting revenue growth at the expense of local companies.

Dairy cattle farmers have experienced mixed trading conditions in recent years. Improving global supply and demand conditions have allowed for a strong recovery in the milk prices that dairy processors offer to farmers. Supply constraints both in New Zealand and worldwide because of the pandemic have boosted dairy product prices and farmgate milk prices. Even so, dairy cattle numbers have declined as farmers have contended with drought conditions. Although efficiency improvements have allowed for greater milk yields per cow, milk production has dipped overall. Overall, industry revenue is expected to spike at an annualised 1.1% over the five years through 2025-26 to $20.31 billion. This includes an anticipated 0.2% dip in 2025-26 due to weaker demand from China and mounting cost pressures. Revenue for dairy farmers depends heavily on milk production levels and prices. National milk production has fluctuated due to unfavourable seasonal conditions and a slump in the national dairy cattle herd. Pandemic-related restrictions constrained global supply. Border restrictions reduced employment in New Zealand, which has weighed on milk production since 2021-22. Farmgate milk prices reached a record high in 2025-26 and are looking to rally on the back of healthy export market demand from Asia and a recovery in demand from China. A jump in the cost of inputs – like feed and fertiliser – has constrained profit margin growth for dairy cattle farmers over the past five years. Looking ahead, farmgate milk prices will continue to strengthen as global demand and supply imbalances even out. While domestic per capita dairy consumption is forecast to contract, demand from overseas markets will tick upwards. Higher demand will encourage farmers to expand production, supporting revenue. Industry revenue is forecast to remain relatively stable over the five years through 2030-31, ticking up to $20.32 billion. Climbing farmgate prices and moderating input costs will bolster profitability for dairy farmers.

Fonterra, New Zealand's leading dairy firm, raises its annual earnings forecast, citing strong performance in ingredients and consumer sectors, with a significant third-quarter profit increase.

Overview
The March edition of Agricultural commodities contains ABARES' latest outlook for Australia's key agricultural commodities to 2021-22. The outlook will be an important focal point at the conference and underpin many presentations delivered by ABARES speakers at the conference. The report provides updated commodity forecasts, as well as articles on the EU sheep meat industry; farm performance of broadacre and dairy farms; productivity in Australia's broadacre and dairy industries; and disaggregating farm performance by size.

Key Issues Commodity forecasts
• The gross value of farm production is forecast to increase by 8.3 per cent to a record $63.8 billion in 2016-17 before easing by 3.9 per cent to a forecast $61.3 billion in 2017-18. Despite the forecast decline, the gross value of farm production in 2017-18 would be 17.3 per cent higher than the average of $52.3 billion over the five years to 2015-16 in nominal terms. • The gross value of livestock production is forecast to increase by around 4.4 per cent to $31.2 billion in 2017-18, following a forecast decrease of 2.6 per cent in 2016-17. If this forecast is realised, the gross value of livestock production in 2017-18 would be around 28 per cent higher than the average of $24.4 billion over the five years to 2015-16 in nominal terms. • The gross value of crop production is forecast to decrease by 11.3 per cent to $30 billion in 2017-18, after a forecast increase of 20.2 per cent in 2016-17. The decrease follows record production of wheat and barley in 2016-17, which resulted from favourable seasonal conditions during winter and spring. If this forecast is realised, the gross value of crop production in 2017-18 would be around 8 per cent higher than the average of $27.9 billion over the five years to 2015-16 in nominal terms. • In 2021-22 the gross value of farm production is projected to be around $59.6 billion (in 2016-17 dollars), 8.6 per cent higher than the average of $54.9 billion over the five years to 2015-16 (also in 2016-17 dollars). In 2021-22 the gross value of crop production is projected to be around $29.0 billion and the gross value of livestock production is projected to be around $30.6 billion (in 2016-17 dollars). • Export earnings from farm commodities are forecast to be around $48.7 billion in 2017-18, higher than the forecast $47.7 billion in 2016-17. • The agricultural commodities for which export earnings are forecast to rise in 2017-18 are beef and veal (up 1 per cent), wool (10 per cent), dairy products (11 per cent), sugar (10 per cent), cotton (35 per cent), wine (5 per cent), lamb (3 per cent), live feeder/slaughter cattle (4 per cent), rock lobster (6 per cent) and mutton (1 per cent). • Forecast increases in 2017-18 are expected to be partly offset by expected declines in export earnings for wheat (down 9 per cent), coarse grains (11 per cent), canola (6 per cent) and chickpeas (42 per cent). • In Australian dollar terms, export prices of wool, dairy products, sugar, wine, lamb, barley, canola, rock lobster and mutton are forecast to increase in 2017-18. Export prices for cotton and chickpeas are forecast to fall. Prices for beef and veal, wheat and live feeder/slaughter cattle are forecast to remain around the same as in 2016-17. • In 2021-22 the value of farm exports is projected to be around $46.6 billion (in 2016-17 dollars), 8 per cent higher than the average of $43.1 billion over the five years to 2015-16 in real terms. • The value of crop exports is projected to be $24.9 billion (in 2016-17 dollars) in 2021-22, 7 per cent higher than the average of $23.2 billion over the five years to 2015-16 in real terms. The value of livestock exports is projected to be $21.8 billion (in 2016-17 dollars) in 2021-22, 10 per cent higher than the average of $19.8 billion over the five years to 2015-16 in real terms. • Export earnings for fisheries products are forecast to increase by 2.3 per cent in 2017-18 to $1.5 billion, after decreasing by a forecast 3.4 per cent in 2016-17.

Economic assumptions underlying this set of commodity forecasts

In preparing this set of agricultural commodity forecasts: • World economic growth is assumed to be 3.3 per cent in 2017 and 3.4 per cent in 2018. Growth is expected to rise further to around 3.5 per cent in 2019 before declining to 3.4 per cent in 2021 and 3.3 per cent in 2022. • Economic growth in Australia is assumed to average 2.8 per cent in 2017-18. Over the medium term to 2021-22, economic growth is assumed to average around 3 per cent. • The Australian dollar is assumed to average US73 cents in 2017-18, slightly lower than the forecast average of US75 cents in 2016-17. It is assumed to appreciate slightly over the medium term, reaching US74 cents towards 2021-22.

Articles on agricultural issues
The EU sheep meat industry
• The European Union is one of the world's largest consumers of sheep meat. Imports are controlled by import quotas and prohibitive out-of-quota tariffs. • Australia is the second largest exporter to the European Union, behind New Zealand, although its allocated quota is just 8 per cent that of New Zealand's. • As a high value market for sheep meat, expanding sheep meat exports to the European Union would benefit the Australian industry. However, until the trade outcomes of Brexit are known, opportunities for Australian sheep meat exporters are uncertain.

Farm performance: broadacre and dairy farms, 2014-15 to 2016-17
• In 2016-17 farm cash income for Australian broadacre farms is projected to average $216,000 a farm, the highest recorded in the past 20 years. • Record broadacre farm cash incomes this year are the result of near record winter grain production in most regions and good prices for beef cattle, sheep, lamb and wool. • Average farm cash income is projected to increase for broadacre farms in all states except Tasmania in 2016-17. • Farm cash income for dairy farms is projected to decline by 17 per cent nationally to an average of $105,000 a farm in 2016-17, reflecting lower average farmgate milk prices and reduced milk production.

Productivity in Australia's broadacre and dairy industries
• From 1977-78 to 2014-15, productivity in the broadacre industries averaged 1.1 per cent a year as a result of declining input use (down 1 per cent a year) and modest output growth (up 0.1 per cent a year). • In the dairy industry, productivity growth averaged 1.5 per cent a year between 1978-79 and 2014-15. This reflected average annual growth of 1.3 per cent in output and an average annual decline of 0.2 per cent in input use.

Disaggregating farm performance by size
• The largest 10 per cent of broadacre farms produced 46 per cent of total output, while the smallest 50 per cent of farms produced 12 per cent of total output. • The average rate of return, including capital appreciation, generated by the largest 10 per cent of broadacre farms was 8.2 per cent, while the smallest 10 per cent generated average returns of -2.8 per cent. • The largest 10 per cent of broadacre farms had the lowest average equity ratio of all farms (79 per cent), while the smallest 10 per cent of farms had the highest average equity ratio (97 per cent).

Milk and cream processors are benefiting from significant export demand growth. Rising incomes in Asia are boosting demand for non-powdered milk and cream, with notable price premiums in export markets supporting milk and cream processors' goods. However, a focus on food security in China, the industry’s largest export market, is weighing on demand for milk and cream from China as the country is improving its domestic dairy sector. Revenue is expected to have increased at an average annual rate of 1.7% over the five years through 2024-25, reaching an estimated $1.7 billion. This trend includes an anticipated rise of 1.5% in 2024-25. Most of the industry’s revenue is derived from exports, meaning processors strongly rely on overseas demand. Exports to Asian countries have boomed over the past few years. Rising incomes among these consumers and an increasing desire to purchase high-quality fresh milk exported from countries like New Zealand have enhanced sales. Domestically, processors are turning their attention to high-value products like organic milk and cream to boost revenue. Per capita milk consumption has edged up over the past few years. Profitability is also improving, largely due to stronger overall growth in export and domestic milk prices than farmgate milk prices. Going forwards, revenue is forecast to continue expanding for milk and cream processors. National milk production is projected to edge down over the five years through 2029-30 due to a forecast reduction in the size of the nation's dairy cattle herd. Export markets are set to remain the key avenue of growth, with improving economic conditions likely to bolster demand. Competition from plant-based alternatives is also anticipated to weigh on industry performance. Milk and cream processors' revenue is projected to increase at an average annual rate of 1.1% over the five years through 2029-30 to an estimated $1.8 billion.

Following a long history of stability and slow innovation, the dairy producers have been compelled to adapt rapidly as non-traditional dairy products, especially plant-based milks, make significant inroads among consumers not just for health and ethical reasons, but increasingly for taste. While some protection remains, like EU law reserves names like “milk” and “cheese” for animal-derived products, demand for classic dairy items is no longer unchallenged, pressuring processors to step up their marketing game, diversify product portfolios and invest heavily in both sustainability and product innovation. Revenue is projected to hike at a compound annual rate of 1.5% over the five years through 2025, including a shrink of 1.3% in 2025 to reach €289.8 billion. The industry has benefitted from export growth, which has mainly been fuelled by trade agreements and global market expansions, opening doors to lucrative export opportunities. Notably, those specialising in unique dairy products, like speciality cheeses, are reaping the benefits. European drinking milk volumes have gradually slumped, even as pandemic-induced home cooking temporarily buoyed demand in 2021. Input costs soared, with EU farm-gate milk prices peaking dramatically in late 2022 due to high feed and energy costs and supply disruptions amplified by the Russia–Ukraine conflict. While producers hiked prices to offset these cost shocks, driving a temporary revenue surge in 2022, profit has been squeezed as dairy processors struggled to pass on rising costs fully to price-sensitive consumers. Strength in exports, particularly artisan and PDO-certified cheeses, provided some offset, as Europe cemented its reputation for premium dairy on the global stage. Meanwhile, premiumisation and growing household incomes in core markets like Germany, France and the UK drove robust demand for value-added products like soft cheeses and dairy desserts. Dairy producers will contend with the swelling popularity of plant-based alternatives like oat, almond and soy milk. Thanks to cultural shifts driven by health, environmental sustainability and animal welfare concerns, demand for these alternatives is set to surge. In response, major dairy brands like Arla, Danone and FrieslandCampina are moving into the plant-based segment, while innovation in taste and texture is expected to intensify competition. At the same time, sustainability and organic production will dominate industry strategies, as the EU’s Green Deal pushes for at least a quarter of agricultural land to be organic by 2030. While this transition supports stronger profit, premium product categories and aligns with evolving consumer values, it’s likely to elevate both compliance and production costs. Adoption of advanced agri-tech and automation should drive operational efficiencies, but industry-wide growth will remain constrained by price-sensitive consumption patterns, regulatory shifts and ongoing geopolitical risks affecting export potential. Over the five years through 2030, industry revenue is projected to climb at a compound annual rate of 3% to reach an estimated €335.5 billion.

This report contains ABARES' latest outlook to 2019-20 for Australia's major agricultural commodities. In addition, this publication includes articles titled Farm performance: broadacre and dairy farms, 2012-13 to 2014-15, Productivity in the broadacre and dairy industries, Profitability and productivity in Australia's beef industry and boxes titled Key agricultural outcomes of recent free trade agreements and Use and supply of barley in China.

A limited number of printed copies will be available by contacting info.abares@agriculture.gov.au

Key Issues Commodity outlook
• Export earnings from farm commodities are forecast to be about $40.5 billion in 2015-16 compared with a forecast $40.3 billion in 2014-15. • Agricultural commodities for which export earnings are forecast to rise in 2015-16 include wheat (up by 12 per cent), sugar (11 per cent), canola (10 per cent), dairy products (8 per cent) and beef and veal (2 per cent). These forecast increases are expected to be largely offset by forecast falls in export earnings for mutton (39 per cent), cotton (35 per cent), barley (11 per cent) and lamb (8 per cent). • At the end of the outlook period (2019-20), the value of farm exports is projected to be around $41.2 billion (in 2014-15 dollars), 9 per cent higher than the average over the five years to 2013-14. • The gross value of farm production is forecast to increase by 5.3 per cent to around $54.4 billion in 2015-16, following a forecast decrease of 2.9 per cent to $51.6 billion in 2013-14. • The gross value of livestock production is forecast to increase by around 5.6 per cent to $25.9 billion in 2015-16, following a forecast increase of 5.9 per cent in 2014-15. The gross value of crop production is forecast to increase by 5.1 per cent to $28.5 billion in 2015-16, after a forecast decrease of 9.6 per cent in 2013-14. • Export earnings for fisheries products are forecast to increase by 8 per cent to around $1.5 billion in 2015-16, after increasing by a forecast 3 per cent in 2014-15. • The outlook for agricultural commodities is based on the assumption that world economic activity will increase by 3.3 per cent in 2015, the same growth rate as in 2014. World economic growth is assumed to strengthen to 3.8 per cent in 2016, before easing gradually to 3.5 per cent towards 2020. • In Australia, economic activity is assumed to grow by 2.5 per cent in 2014-15, strengthening to 3.5 per cent by 2016-17. Toward 2019-20, economic growth is assumed to average around 3.2 per cent a year. • The Australian dollar is assumed to average around US76c in 2015-16, compared with an assumed average of US83c in 2014-15. It is assumed to average around US76c from 2015-16 to 2019-20.

Farm financial performance
• Using data from the most recent Australian Agricultural and Grazing Industries Survey (AAGIS), ABARES has made projections of average farm cash income for Australian broadacre farms in 2014-15. It is projected that average farm cash income will decline in Victoria, Western Australia, South Australia and New South Wales but increase in Queensland, the Northern Territory and Tasmania. • For Australia as a whole, the average farm cash income of Australian broadacre farms in 2014-15 is projected to be around $114 000 a farm, a fall of 9 per cent from an estimated $124 600 a farm in 2013-14. • It is projected that average farm cash income of dairy farms will decline from an average of $163 900 a farm in 2012-13 to an average of $97 000 a farm in 2014-15, reflecting lower farmgate milk prices. • Broadacre farm debt is estimated to have remained largely unchanged in 2013-14, averaging around $512 500 a farm at 30 June 2014.

Productivity in Australia's broadacre and dairy industries
• Productivity in the broadacre industries grew by 1.1 per cent a year on average between 1977-78 and 2012-13. • This broadacre productivity growth reflects a decline in the use of inputs (-1.0 per cent a year) while achieving modest output growth (0.1 per cent a year). • Dairy industry productivity grew at an annual average rate of 1.7 per cent between 1978-79 and 2012-13. This reflects strong output growth (1.3 per cent a year) and a small reduction in the use of inputs (-0.4 per cent a year).

Profitability and productivity in Australia's beef industry
• Average profitability in the beef industry has been low for many years. At the farm level, technological progress appears to be relatively slow. There is a large proportion of small, generally unprofitable farms that significantly reduce the average profitability per farm for the whole industry.

The report Australian Farm Survey Results, 2013-14 to 2015-16 reproduces three papers previously published in the March quarter 2016 edition of Agricultural Commodities: Farm performance: broadacre and dairy farms; Productivity in Australian broadacre and dairy industries; and Disaggregating farm performance statistics by size. The re-packaged papers provide an easy to access publication with ABARES farm surveys results in one location.

The analysis in the report is mainly based on data collected in 2015-16 from the Agricultural and Grazing Industries Survey (AAGIS) and the Australian Dairy Industry Survey (ADIS). These surveys are funded by the Department of Agriculture and Water Resources, the Grains Research and Development Corporation (GRDC) and Meat and Livestock Australia (MLA).

Key issues
Farm financial performance • In 2015-16, ABARES estimates that average farm cash income will increase in New South Wales, Queensland, South Australia, Western Australia and the Northern Territory. Dry seasonal conditions in Victoria and Tasmania have reduced crop and livestock production resulting in a reduction in projected farm cash incomes. • For Australia as a whole, farm cash income of broadacre farms is projected to average $179 000 a farm in 2015-16 - the highest recorded in the past 20 years. • The expected increase in farm cash incomes in 2015-16 has been driven by high livestock prices - especially for beef cattle - and good winter grain production in most regions. • It is projected that average farm cash income of dairy farms will decline by 26 per cent to an average of $113 000 a farm in 2015-16, reflecting lower farmgate milk prices, reduced production and higher fodder costs. Productivity in Broadacre and dairy industries • Productivity in the broadacre industries grew by 1.1 per cent a year on average between 1977-78 and 2013-14. Broadacre productivity growth was driven largely by declining input use while maintaining modest output growth. • While dairy industry productivity grew by 1.6 per cent a year on average between 1978-79 and 2013-14. This reflects strong output growth (1.3 per cent a year) and some reduction in input use (-0.2 per cent a year). Disaggregating farm performance statistics by size • The economic performance of farms in 10 size categories is presented. For each size category, the following measures are presented: share of total output produced, total cash receipts, total cash costs, profit at full equity, total opening capital, net capital additions, rate of return, including capital appreciation and equity ratio. • The largest 10 per cent of farms produced 48 per cent of all broadacre farm output, while the smallest 50 per cent of farms produced 11 per cent of total broadacre output.