Almost 10,000 livestock deaths have been reported across Victoria since mid-October, while authorities believe more than 12,000 agricultural properties have been affected by floodwater.
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The sobering statistics reveal the devastating consequences of one of the state's worst droughts in living memory, as flood height records were broken on the eve of what many expected to be a bumper season.
More than 5500 farms of the 12,230 properties inundated by floodwater are commercial-scale primary production operations, however, many farmers believe that figure could be significantly higher.
Agriculture Victoria data shows as of Tuesday, 1396 livestock were still missing, while 9879 livestock had been killed as a result of the widespread flood event.
The department also estimated 9500 kilometres of fencing had been destroyed, while 110,000 tonnes of hay or silage had also been lost since October.
Across the state, more than 334,000 hectares have been affected by floodwater.
The wet weather is also showing no real signs of slowing, according to the Bureau of Meteorology, which said temperatures were 5-10 degrees below average for this time of year.
"Major flooding continues to impact many communities across inland NSW, and along the Victorian border," Bureau senior meteorologist Jonathan How said.
"Floodwaters are now making their way downstream into South Australia, and significant impacts are expected for the Riverland district in the coming weeks.
"Residents and communities living on or near any rivers, creeks and streams or in low-lying areas should stay up to date with the latest forecasts and warnings."
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But while authorities believe the major threat for many Victorian communities has eased in the short term, farming communities across the Murray River remain on high alert as a result of increased river flows.
Residents of the small farming town of Moulamein, NSW, on the junction of the Edward River and Billabong Creek, were evacuated on Tuesday as the town became isolated in all directions.
Residents said river levels had surpassed the heights of the 1956 flood, which left the town isolated for weeks.
Further east on the Edward River, residents in 10 streets in Deniliquin, NSW, were given until Wednesday morning to leave.
Meanwhile, the State of the Climate Report 2022, released yesterday by CSIRO and the Bureau of Meteorology, has found changes to weather and climate extremes are happening at an increased pace across Australia.
Victorians farmers affected by the floods can phone Agriculture Victoria's Flood Recovery Hotline on 1800 560 760.