WHEAT farmers are looking at a $5 billion-plus export bonanza in the next year as near-record crops and strong prices fuel a bumper season.
Barley and canola producers are also looking at a rosy year, while most livestock prices are set to rise as well, with mutton doing best.
And all this despite the Australian dollar likely to stay around the US90 cent mark over the next year.
These are some of the main features of the latest quarterly commodity forecasts by the Australian Bureau of Australian and Resource Economics.
In its Australian Commodities publication released yesterday, ABARE said farm exports were set to jump 10 per cent to $31.4 billion in 2010-11, almost reversing the 11 per cent decline last year.
Farm cash incomes are expected to swell by a further 21 per cent to $13.3 billion after a big recovery in the past year.
The stand-out contributor will be wheat, where a near-record crop of 25.1 million tonnes is expected to underpin a strong 32 per cent surge in exports to 18.2 million tonnes, ABARE said.
With pool prices also set to jump 30 per cent to an average of $319 a tonne, which will help push export returns up a whopping 41 per cent to $5.2 billion.
Barley producers are also looking at a 15 per cent higher crop - just over 13 million tonnes - a 25 per cent jump in feed barley prices - to $238 a tonne - and a 33 per cent surge in exports to $1.7 billion.
The forecast for canola is not quite so upbeat, but still solid - a 17 per cent production increase and 27 per cent jump in exports, with just a 2 per cent rise in prices.
In the livestock sector, beef farmers can expect a healthy 4.5 per cent lift in saleyard prices, which are forecast to average 301c/kg during 2010-11. Beef exports are also expected to jump 10 per cent to $4.4 billion.
Mutton prices are set for a bumper year, with ABARE predicting saleyard prices will be up a further 12 per cent to 360c/kg on average during the next year.
Total sheep meat exports will also be on the up, rising more than 5 per cent to $1.4 billion.
Dairy producers are looking at moderate gains after a poor year, according to ABARE. Farm-gate milk prices are expected to be 3 per cent higher at an average of 38.5 cents a litre in 2010-11, and exports up 8 per cent to $2.2 billion.
Wool is facing a subdued time, with production and export volumes set to stagnate and the eastern market indicator price rising just 2 per cent to an average 890 c/kg.
And lamb producers can expect only a marginal price increase - 1 per cent to 470c/kg on average at the saleyard.
