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The survey was undertaken by agribusiness financier Rabobank. Rabobank general manager, Rural Australia, Peter Knoblanche, said renewed confidence had sprung from summer rains and predictions of a return to normal weather patterns.
“Improved rainfall through the summer has improved confidence quite considerably,” Mr Knoblanche said.
“A good profile in the soil .... I guess that’s probably the first time for many areas on the east coast to have seen this sort of profile for quite some time. If you combine that with commodity prices being at good highs, then it’s a pretty encouraging picture for them (farmers).”
Livestock prices have also improved on the back of summer rains and have rejuvenated pastures.
“For anyone who’s had stock they’ve been able to sell they’ve done very well out of it and there’s really a bit of a re-stocking program going on at the moment,” Mr Knoblanche said.
“The global beef prices that drive a lot of this haven’t changed too dramatically through that period. This is more about a rebuilding phase and that’s good for the people who’ve got the stock and can run them.”
An encouraging sign is the number of farmers feeling more confident about the future.
“There’s a pretty significant increase in farmers that are expecting higher income levels this year,” Mr Knoblanche said.
“It’s gone up to 56 per cent compared to 37 per cent last quarter and importantly the number that think - if you look at viability levels - that believe that their properties are unviable, has really dropped right off to quite small levels and that’s a good sign of where they think they’re going on a longer term basis.
“We’re delighted with this and more so, the reasons behind why they’re there.
“It looks like we’re in for some good weather patterns and it looks like we’re also in for some strong commodity prices going forward and they’re things that we’re quite happy with, to see the farming industry really pick up, do a bit of catch up this year, if they have a good season, and bring it through.
“It underpins the fact that this is a long-term industry that really requires good operators to carry them through and be able to make good benefit in these good times.”
“Improved rainfall through the summer has improved confidence quite considerably,” Mr Knoblanche said.
“A good profile in the soil .... I guess that’s probably the first time for many areas on the east coast to have seen this sort of profile for quite some time. If you combine that with commodity prices being at good highs, then it’s a pretty encouraging picture for them (farmers).”
Livestock prices have also improved on the back of summer rains and have rejuvenated pastures.
“For anyone who’s had stock they’ve been able to sell they’ve done very well out of it and there’s really a bit of a re-stocking program going on at the moment,” Mr Knoblanche said.
“The global beef prices that drive a lot of this haven’t changed too dramatically through that period. This is more about a rebuilding phase and that’s good for the people who’ve got the stock and can run them.”
An encouraging sign is the number of farmers feeling more confident about the future.
“There’s a pretty significant increase in farmers that are expecting higher income levels this year,” Mr Knoblanche said.
“It’s gone up to 56 per cent compared to 37 per cent last quarter and importantly the number that think - if you look at viability levels - that believe that their properties are unviable, has really dropped right off to quite small levels and that’s a good sign of where they think they’re going on a longer term basis.
“We’re delighted with this and more so, the reasons behind why they’re there.
“It looks like we’re in for some good weather patterns and it looks like we’re also in for some strong commodity prices going forward and they’re things that we’re quite happy with, to see the farming industry really pick up, do a bit of catch up this year, if they have a good season, and bring it through.
“It underpins the fact that this is a long-term industry that really requires good operators to carry them through and be able to make good benefit in these good times.”
