Rhymes with?
OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be, despite falling interest rates, and the report still paints a damning picture of rural lending.
New Zealand farmer confidence - which was already at low levels - has plummeted further and now sits at an historical low.
According to the latest Rabobank Rural Confidence Survey - completed late last month - farmer confidence is significantly down on the previous (September) quarter. The net confidence reading slumped to -71% from -31% previously.
Rabobank says this net confidence reading is the lowest in the 20-year history of the survey and far exceeds the previous low of -45% recorded amid the dairy downturn in 2015.
The survey also found that the number of farmers expecting conditions in the agricultural economy to improve in the coming 12 months had fallen to 4% (from 12% in the previous quarter), while the percentage expecting conditions to worsen rose to 75% (up from 43%).
A total of 19% anticipated that the agricultural economy would remain stable (down from 44% previously).
Rabobank New Zealand chief executive Todd Charteris says farmers from all the sectors are now significantly more pessimistic about the prospects for the broader agri economy - with a cocktail of concerns weighing heavily on farmer sentiment.
"As with recent surveys, rising farm input costs and government policy were the two major reasons cited by farmers with a pessimistic outlook for the year ahead," he says.
The Rabobank Rural Confidence Survey found farmers' expectations for their own business operations had also improved, with the net reading on this measure lifting to +37% from +19% previously.
Confidence is flowing back into the farming sector on the back of higher dairy and meat prices, easing interest rates and a more farmer-friendly regulatory environment.
Ham has edged out lamb to become Kiwis’ top choice for their Christmas tables this year.
Dairy Women’s Network (DWN) has announced real estate company Bayleys will be the naming partner for its 2025 conference.
As New Zealand enters the summer months, rural insurer FMG is reminding farmers and growers to take extra care with a new campaign.
Hato Hone St John is urging Kiwis to have a safe summer this year.
OPINION: Before we all let The Green Party have at it with their 'bold' emissions reduction plan, the Hound thought…
OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be,…