Western Australian farmer confidence dropped to -21% in Rabobank's Rural Confidence Survey due to dry cropping season, increased costs, and live sheep export concerns.
Western Australian farmer confidence fell amid a dry start to the cropping season, with negative sentiments increasing and net confidence at -21%, according to Rabobank's Rural Confidence Survey. A dry autumn, inflated business costs, and concerns about the live sheep export sector contributed to the decline in confidence. Despite last-minute rain relief in late May, optimism remains low, with only 46% of respondents expecting a stable outlook for the industry in the next 12 months.
June 11, 2024
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