Farmer confidence up but still negative

JON MORGAN
Last updated 12:39 14/12/2012

Relevant offers

Farming

Restricted myrtle rust movement zones imposed around infected properties US field trials underway of NZ emission-busting GM ryegrasses Farmers feel less undue pressure from banks: survey Mark Gascoigne: Here's what really gets my goat Value of kiwifruit industry to economy tipped to soar to $13b in 13 years Farm buyers urged to do due diligence with new environment rules There is such a thing as a free lunch when it comes to pasture management Water quality improving in Pomahaka River Award winning farmers credit vision and goal setting as keys to success The trouble with caps on cow numbers

Farmers are feeling a little better about the year to come, according to the latest Rabobank rural confidence survey.

However, confidence remains in negative territory for the fourth consecutive quarter.

The survey in late November – before Fonterra lifted the milk price to farmers – shows 31 per cent of farmers expected the rural economy to worsen over the coming year, down from 44 per cent last survey and up from 12 per cent at the same time last year.

Only 18 per cent expect an improvement versus 33 per cent last year, although this is a slight lift from 15 per cent expecting an improvement since the September survey.

Sheep and beef farmers were more pessimistic than dairy farmers.

Rabobank New Zealand chief executive Ben Russell said the survey results were not surprising given ongoing uncertainty in the global economy and the high New Zealand dollar were hurting farm gate prices.

However, those expecting an improvement in the agricultural economy mentioned also the drought in the US and globally tight food supplies as having positive flow-on effects for New Zealand exporters.

Ad Feedback

- BusinessDay.co.nz

Special offers
Opinion poll

Is it time for authorities to introduce tougher penalties for poaching?

Yes

No

Vote Result

Related story: Booby traps for poachers cost farmers

Featured Promotions

Sponsored Content

Agri e-editions

Digital editions

Read our rural publications online