Victorian sheep producers lead increase in farmer confidence

VICTORIAN sheep producers are leading a national increase in farmer confidence, according to results from the latest quarterly Rabobank Rural Confidence Survey released last week. The survey found Victorian farmer confidence rose to the highest level nationally, jumping from a net -39 percent to 21pc, driven by anticipation of favourable seasonal conditions and commodity prices for the year ahead. Victorian sheep producers were the most optimistic of the state’s farmers this quarter, as they hold onto hope the market will provide more promise than the variable conditions experienced in 2023, a Rabobank release said. The survey found that confidence in the red meat industries took a significant turn for the better this quarter. Nationally, net confidence in the sheep sector bounced back from -45pc at the end of 2023 to 27pc this quarter, and net confidence among beef producers jumped from -40pc to now sit at 29pc. Sheep producers are hanging their hopes on rising commodity prices – ...