Agriculture Victoria has found that the last financial year was one of the most profitable for dairy farmers in the last 17 years.
The 2022-2023 Dairy Farm Monitor Project, which tracks 80 dairy farm businesses has found farmers have had a bumper year thanks to high milk prices and carefully managed high costs.
A partnership between Dairy Australia and Agriculture Victoria, the project collects and analyses financial and production data from dry land and irrigated dairy farms in south-western Victoria, Gippsland and northern Victoria. Farms tracked represent a sub-section of farm size, feeding systems and herd sizes.
This year’s findings revealed that milk price increased by 33 percent to $9.77 per kilogram milk solids, the highest on record in the survey’s 17 years, helping to offset rising feed costs and overheads including labour.
Agriculture Victoria, sector development and services executive director, Douglas Purcell said it was a remarkable result given the variables.
IMAGE: The past 12 months have been particularly profitable for Victorian Dairy Farmers.
