In 2023, the agricultural sector and its supply chain encountered significant hurdles, as highlighted in a review conducted by Meat & Livestock Australia, the peak industry body for the Australian cattle market[i]. 

However, despite these challenges, recent rainfall, declining retail prices, strong export figures, and increased processor activity indicate an exceptionally positive outlook for the sector and farmland sales in 2024. 

Travis Wentriro, the NSW Network Manager at Raine & Horne Rural, highlighted that in New South Wales, the favourable November rainfall has allowed agents to visit properties and capture new photos, showcasing the properties’ lusher appearance as Christmas approaches due to the unexpectedly improved precipitation levels.

Multiple opportunities present a significantly positive 2024 for the industry

Looking ahead, Meat & Livestock Australia predicts that domestically, the efforts and investments producers have made in genetics and improving infrastructure and on-farm management over the past three years will continue to pay dividends with better performance of their herds. 

This will become more apparent when seasonal conditions become more challenging as the herds’ productivity remains strong with high turn-off weights and better fertility despite difficult seasonal conditions.

Ripley Atkinson, Acting NLRS Operations Manager Meat & Livestock Australia, said, “Next year will be an exciting year for cattle producers and the industry more broadly, as the outlook remains very positive with the fundamentals of the sector in a very solid position.”

Raine & Horne Rural’s Travis Wentriro echoed these views regarding farm sales, expressing confidence that in 2024, buyers and sellers will have ample opportunities.

“Farms developed over generations, which have been painstakingly established and consolidated, are now on the market, drawing the eye of corporate investors and substantial farming families seeking to expand their operations,” Travis said. 

“Notably, certain rural markets in Australia are catching the interest of international buyers—a trend we’ll closely monitor in 2024.”

If you’re considering listing a rural property, contact your local Raine & Horne Rural estate agent today.