Farming uncertainty makes farmers jittery
10:16 pm in Country Life by admin
Although seasonal on farm conditions seem optimistic and in good shape, uncertainty outside the farm gate is giving Australian farmers the jitters. Farmers’ confidence level has hit an all time low with reports that rural confidence has fallen drastically over the past few months.
Farmers are not only worried about local economic conditions but they are also concerned about global conditions in relation to carbon tax, live cattle exports and coal seam gas mining. Rabobank Rural Confidence Survey which is conducted among 1200 Australian farmers demonstrates that there has been an increase in number of farmers who believe that the conditions will worsen in the coming year. The number has increased from 12pc to 35pc from last quarter’s results. Also, only 18pc are optimistic about the agricultural economy, a number which is drastically lower compared to 42pc previously.
The farmers’ fears were also explained by the fact that they had to face gloomy conditions both on the global markets as well as local markets. There has been a decline in rural commodity prices as recorded by the National Australia Bank as well as a loss in some global markets owing to for instance the Canberra’s Indonesian live export ban. Some farmers also fear that the recession in the US and EU markets will finally get to them and they will experience a fall in their demands. At the same time, farmers from the South are apprehensive of the fact that unsold export cattle of the Northern region will be sold into their own markets thereby eroding further their demands.
NAB has on the other hand confirmed that a high Australian dollar is not doing anything good to the current economic situation but believes that this dip is only short term.
Not just an urban myth, a 23 year old man was stunned to find a six foot kangaroo in his passenger seat after the animal crashed through his car’s windscreen in Melbourne east last night. The incident happened just before 6pm along Boronia Road in Wantirna when the Kangaroo appeared in front of the car and jumped across the road, smashing into the windscreen.