The Victorian Government has released the 2020–21 Dairy Farm Monitor report that analyses the state’s dairy industry, with strong results from across the state. On average, farms saw their highest returns in over six years and some farms had their best financial results since 2007.
The Dairy Farm Monitor Project is an annual report, produced by Agriculture Victoria in combination with Dairy Australia, that surveys 80 farms from across Victoria in order to get a snapshot of how the state’s industry as a whole is faring. It analyses four regions (including the state as a whole) according to a slew of factors such as productivity, profitability and sustainability. Farmers can then use the resulting analyses to identify areas where positive change can best be introduced.
Victorian dairy farms have had a tough time in previous years, with difficult seasonal and financial conditions. However, 94% of farms saw positive returns in the last year, thus allowing farmers in the state to further increase their productivity through reinvestment into repairs and infrastructural upgrades.