Overview * The value of farm production in 2018-19 is forecast to fall year-on-year primarily due to the east-coast drought, but is still likely to remain above the long-term average. * A bumper winter crop in Western Australia and improved commodity prices are supporting the national total. * Assuming seasonal conditions improve in 2019-20, agricultural production is forecast to rebound and then grow slowly over the medium term to 2023-24. * Risks to export earnings have increased. * Trade tensions have the potential to lower income growth in Australia's largest agricultural export markets and competition is increasing. * The net effect of the drought on farm incomes has been negative in 2018-19. Incomes in some regions are projected to fall dramatically, but some states and regions are projected to record above average incomes. * The report will include an annual update of productivity estimates for Australia's broadacre and dairy industries, through to 2017-18. * The report will include an annual update of farm financial performance statistics by different business size categories for the broadacre, dairy and vegetable industries. * The report will include an article summarising the non-tariff measures which affect Australian agriculture.