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Australian farm confidence hits 18-month high, led by livestock sectors, despite crop growers' pessimism.
Australian farm sector confidence reached a 18-month high with a net score of 14% in the Rabobank Rural Confidence Survey, driven by improved growing conditions, stronger livestock prices, and early-season rains in key regions.
Sheep and beef farmers led the surge, with net confidence at 31% and 27% respectively, supported by robust global demand, reduced U.S. and Brazilian supply, and strong wool and meat prices.
Tasmania was most optimistic at 34%, while New South Wales saw a significant rebound to 15%.
Grain, cotton, and sugarcane growers reported negative sentiment due to weak prices, particularly from oversupply in Brazil.
La confianza de las granjas australianas alcanza su máximo en 18 meses, liderada por los sectores ganaderos, a pesar del pesimismo de los productores de cultivos.