New figures from the Australian Bureau of Agricultural and Resource Economics and Sciences show the Wimmera’s anticipated average broadacre farm cash income increased to $225,000 for this financial year. Last year’s average cash income in the region was $179,300.

The report found that while the Australian average farm cash income for broadacre farmers would decrease for 2017-18, income would increase in all Victorian regions, particularly the Wimmera.

The bureau’s report also found that historically-high sheep and wool prices meant livestock producers could be set for their biggest cash increase in two decade. 

Murra Warra farmer and Victorian Farmers Federation president David Jochinke said despite a difficult growing season in the region last year, most farmers finished with a strong harvest.

“In general, we had a good season, especially in terms of yield and quality,” he said.

“Farmers who grew mostly cereals and canola would have definitely had a better year, however, issues with legumes did drag some people down. 

"We had problems with mice and frost during the year, so the potential for a better season was there, but to still come out on top is an excellent result.”

Mr Jochinke said while the 2016-17 season was stronger for many growers, poor grain prices severely affected profits.

The bureau report also shows Australia sheep producers could receive an 35 per cent pay rise for 2017-18.

Mr Jochinke said Wimmera producers had had a tough gig for a number of years.

“Anyone who stayed in the market is now being rewarded and a strong Australian dollar is driving the wool market,” he said.

“The supply of red meet, particularly in the Wimmera, is strong and this is giving people more confidence to invest in sheep.”

Mr Jochinke said the increases in farm income would benefit the wider community.

“Farmers will spend more money on luxury items, looking at things they want, rather than need, so hopefully all businesses in the region feel the benefits,” he said.