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Rabobank Survey Shows NZ Farmers Look to 2017 with Optimism

05 December 2016

NEW ZEALAND - Confidence levels among New Zealand’s farmers remain high but have tempered slightly, the latest quarterly Rabobank Rural Confidence Survey has found.

After surging considerably in the previous quarter – off the back of improved dairy farmer outlook – the latest survey, completed in early November, recorded a small decline in sentiment among farmers.

The overall net confidence reading fell to +25 per cent, down from +35 per cent last quarter, but remained at net positive levels for the third consecutive quarter.

The survey found the number of farmers expecting the rural economy to improve in the next 12 months had fallen to 39 per cent (down from 48 per cent in the previous quarter), while the number expecting it to worsen rose to 14 per cent (up from 13 per cent). A total of 42 per cent were expecting similar conditions (down from 37 per cent).

Rabobank New Zealand general manager for Country Banking, Hayley Moynihan said the positive outlook for the dairy and horticulture sectors had kept overall confidence in the agricultural economy high.

Source: Rabobank

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