Drier-than-average weather conditions have seen local farmer confidence take a dramatic turn.
The Quarter Two Rabobank Rural Confidence Survey released this week shows a significant decline in confidence this Autumn, despite optimism at the start of the year.
Rabobank’s Adam Moss says it’s no surprise the lack of rain has affected farmers.
“It certainly demonstrates that the predominant driver of confidence, as probably always, is weather conditions, Moss says.
“So, while there’s a number of other factors that farmers are concerned about, it certainly is the really dry Autumn and continuing dry spell right at the moment that seems to have impacted rural confidence for the second quarter.”
Weather isn’t the only concern for farmers.
“Also uncertainty over rising input costs, falling commodity prices… even uncertainty over interest rates.
“Coupled with that, there is even some concern expressed over potential government policy and intervention.”
