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Farm production drops below $60 billion

The national value of farm production has dropped below $60 billion, down by 5 percent compared to last year’s record breaking season.

The past 12 months has seen the income for broad acre farmers drop by about $20,000.

But it’s not all downturn, with the average income for dairy farmers jumping from $89,000 to $137,000.

Figures from the Australian Bureau of Agriculture and Resource Economics are forecasting the 2018-19 season to bounce back to reach a value of $61 billion.

Rural reporter Eddie Summerfield caught up with ABARES Chief Commodities Analyst Peter Gooday:

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