Australian farmers feeling the most confident about the future

Monday, June 06, 2011

Food and agribusiness bank, Rabobank Australia, released its quarterly rural confidence survey which questioned about 1200 farmers across Australia and found that confidence had moderated compared to the prior quarter, but was at the highest level recorded for the second quarter since 2001.

Farmers were buoyed by favourable commodity prices and good autumn rains, with 42 per cent expecting conditions to improve in the coming year, compared to 48 per cent in the prior quarter.

Many farmers had received abundant summer rain and a top-up in autumn, which was good for the start of the winter cropping season, and prices for beef, sheep, and grain were relatively firm given strong demand and short supply.



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