Australia: Rain shortfall pushes farm diversification

Posted by PhysOrg: Aaron Fernandes on March 28th, 2014
PhysOrg: Dairy farmers are being urged to diversify their farms to protect profit margins amid declining rainfall and fluctuating production costs. Collaborative research between Western Australian and Victorian institutions shows farm profitability is affected more by changes in rainfall than commodity prices, with dairy enterprises the most profitable on a $/ha basis. Profitability of wheat, steer and prime lamb enterprises however, proved most resilient during times of low rain. Compared to Victoria,......

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