28 Oct 2010

Strong dollar, bad weather dent farmer confidence

2:27 pm on 28 October 2010

The latest Rabobank survey of farmer confidence, shows there's been a decline for the first time in more than a year.

The bank questions about 450 farmers every three months, and its latest survey found net farmer confidence has fallen to 24%, from 30% in the previous survey in July.

The New Zealand General Manager Ben Russell says the main factors given were the rising value of the New Zealand dollar and poor spring weather conditions in many regions which have made calving and lambing difficult.

The total number of dairy farmers expecting an improvement in their own business operations had fallen to 47% from 70% last quarter.