Planfarm Benchmarks 2023 Season
Over our 50-year history, Planfarm has long recognized the value of Benchmarking as a tool for broadacre businesses to assess their production and financial performance.
After consecutive record-breaking production years, below-average growing season rainfall in the Northern Wheatbelt, difficult livestock market conditions, and a hot, dry spring across the state made for a particularly challenging 2023.
With below average farm income and high operating costs, the average business generated only modest operating profits and a negative return on capital.
Despite this, broadacre businesses continue to hold a strong equity position, and the industry is well placed to manage poor seasons while retaining the capacity for investment in land and machinery.
