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

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

The Rural News

The Rural News is market leader, dealing exclusively with stories of interest to the farming sector and has the support of Australia’s largest media business and international correspondents.

The Rural News is market leader, dealing exclusively with stories of interest to the farming sector and has the support of Australia&rsquo;s largest media business and international correspondents.