Agricultural Production Forecast Quiz
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Questions and Answers

What is the forecast for average broadacre farm cash incomes in 2023–24?

  • To fall strongly (correct)
  • To double from the previous year
  • To increase due to higher production values
  • To remain stable from the previous year

    • Why are crop production volumes forecasted to fall in 2023–24?

  • Due to higher crop yields
  • Due to increased soil moisture levels
  • Due to an increase in global crop prices
  • Due to expected drier conditions (correct)

    • What led to the small upwards revision in crop production values for 2023–24?

  • Slightly better than expected prices in recent months (correct)
  • Significantly better than expected prices for livestock
  • A decrease in input costs for farms
  • An increase in global crop prices

    • How have recent price data affected livestock values for 2023–24?

    <p>Led to a decrease in livestock values</p> Signup and view all the answers

    Why are domestic crop prices expected to fall in 2023–24?

    <p>Due to falling global prices and lower price volatility</p> Signup and view all the answers

    What is the expected change in the gross value of crop production for 2023–24?

    <p>$46 billion decrease</p> Signup and view all the answers

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