The midpoint price across southern Australia is expected to be four to five per cent higher than 2020/21.

Rural Bank's North East Victoria agribusiness relationship manager Kate Crawford said insights into the beef and dairy industries from the outlook aligned with local reports.

"The beef industry has continued to perform and throw quite high numbers for average prices," she said.

"Predictions are that although they may slightly decrease, there will be consistency with restockers ... which is fairly consistent with word on-ground around the area.

"They're all feeling confident within the dairy industry at the moment with the predicted milk price increase.

"There's demand for dairy cows being exported.

"I don't think I've spoken to one disappointed farmer recently ... and last year was a cracker," she said.

Reports of further rainfall this winter are supporting positive production outlooks for most commodities in the second half of the year.

"There's a few farms that are not getting quite enough rain, but are still pretty happy with what they're getting, and others are nearly verging on too much," Ms Crawford said.

"It just puts their minds at ease they're going to have fodder on ground for their stock and reserves."

Mouse activity is subsiding with cooler weather, but there are concerns that the population may increase as weather warms up in the critical spring period for crops.

"In talking to our local farming community around here, they have seen mice activity, but they're fortunate enough that they haven't been impacted as much as some other areas," Ms Crawford said.

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Ms Crawford said median farmland values of $6000 per hectare were being exceeded often and there had been an increase in off-market sales and auctions.

"We're finding that there's private negotiations between neighbours, with people getting in and buying before the property even hits market," she said.

"Some of the prices are pretty gob-smacking."