New figures from the Reserve Bank show the growth in bank lending to farms has slowed for a second consecutive year.
Credit to the farming sector grew by 3% in the year to the end of June to $46.1 billion, up from $44.7 billion the year before.
Year-on-year growth in farm lending peaked in 2008 at 21% before falling to 16% last year due to the credit crunch and falling dairy prices.
Lending for all types of farming has risen in the past year, except for the category covering equine, pig and deer farming.
Lending to firms servicing the farming sector fell for the first time in three years, although only slightly.
The figures also showed farm loans on floating interest rates jumped 50%in the past year
The Reserve Bank says floating mortgage rates fell to their lowest level since the 1960s in October last year.