Improvements in dairy sentiment underpins broadly positive expectations for the coming season.ROB HENSON June 11, 2014 3:15am
Victorian farmers have reported an upswing in confidence this quarter, with producers upbeat about their prospects across all major industries — dairy, grains, beef and sheep — bringing net confidence to a three-year high.
In recent surveys, the strong sentiment in the Victorian farming sector has been largely underpinned by the dairy industry, but confidence has now rallied among beef and sheep producers on the back of rain and the associated recovery in market prices.
Meanwhile, grain growers have retained a positive outlook on the season.
Farmers also indicated strong longer-term confidence in the industry, with 28 per cent holding expansionary investment intentions.
The latest Rabobank Rural Confidence Survey completed last month reported a sharp upswing in confidence, with Victorian farmers remaining the most upbeat group of farmers across the nation for seven consecutive quarters.
Those expecting conditions in the agricultural economy to improve now stands at 44 per cent of respondents (up from 37 per cent), while those that expect conditions to worsen has more than halved to seven per cent (down from 17 per cent).
Meanwhile around half of the state’s farmers (49 per cent) held a stable outlook on the coming year.
Monitoring sentiment in Australian rural industries, the Rabobank Rural Confidence Survey questions about 1000 primary producers across a range of commodities and geographical areas throughout Australia quarterly.
Rabobank Victorian manager Todd Charteris said farmers across the state were buoyed by the ‘‘fantastic autumn rains which arrived at just the right time’’.
‘‘Widespread rains have seen a ‘flurry of activity’ with the winter crop pretty much all in on an excellent sub-soil moisture profile and establishment has been further boosted by the unseasonably mild conditions that we have been experiencing in recent weeks,’’ Mr Charteris said.
The rain had also been welcomed by the state’s graziers, he said, with markets responding to the improved seasonal conditions not only in Victoria but through much of southern and central NSW, as well as parts of Queensland.
Mr Charteris said confidence remained robust among the state’s dairy farmers, with 61 per cent expecting the next 12 months to be better than the last.
‘‘While there has been a modest easing in global dairy prices in response to increased supplies from key exportable nations, prices are holding up well and the end-of-year forecast for farmgate prices remains strong at around $6.80/kg milk solids.’’
The Better Local Government Association has applauded Greater Shepparton City Council’s decision not to apply for an increase on the 2.5 per cent rate cap set by the Victorian Government.
Yarrawonga/Mulwala's largest ever professional golf event, the Shepparton BMW Senior Victorian Open, got underway today with 124 players hitting off from 8am to 1pm on Yarrawonga's Black Bull Golf Course at Silverwoods.
Tatura’s rainfall for the last three months of 2015, 116.6mm, was marginally down on the long-term average for the same period, 120.8mm.
MEDDLING mothers can cause plenty of grief when you’re young, especially when they get involved in your love life.
THE second annual Christmas town party in Lockington did not quite attract the crowd organisers were hoping for, but it failed to dampen their spirit.
Special supplement in this weeks edition
For Tocumwal’s Lynda Snowden, working the land hasn’t stopped her from falling in love with the majestic surrounds of her day to day life.
TOOLLEEN Recreation Reserve Committee of Management presented three awards on Australia Day in front of 80 local residents.
The NSW Government has recommended the Old Cobram Barooga Bridge be placed on the State Heritage register.
Deniliquin doctor Marion Magee says she is disgusted with the treatment of local nurses.
Federal Member for Murray Sharman Stone has been criticised by two Victorian MPs for suggesting the Federal Government should stop spending money on the $2 billion irrigation modernisation program until problems are sorted out.
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