Northern Victorian farmers raise the state’s sentiment

The third-quarter survey results were released on Monday, September 16 and showed that farmers in northern Victoria had lifted rural sentiment after a ‘reasonable’ season.

Rabobank state manager for Victoria and Tasmania Sally Bull said Victorian farmers — particularly those in the south-west of the state and parts of Gippsland and the north-east — had been managing a winter drier than average.

“There are reports that it has been the driest six months in the south-west since the late 1960s,” Ms Bull said.

“And while there has been some rain, it has been very patchy and will need a wet spring to replenish feed reserves.

“Livestock producers in those areas have been feeding their stock for the last few months.”

Net farmer confidence in Victoria had increased from -31 to -4 since the second quarter of 2024, which is in line with a recovery in overall rural confidence across the nation.

The survey found 25 per cent of the state’s farmers reported they were expecting agribusiness conditions to improve — an increase from 12 per cent in the second quarter.

There was a decrease in the number of farmers holding a negative outlook on the agricultural economy in the year ahead (30 per cent, down from 43 per cent).

Northern Victorian farmers have bucked the state’s trend.

“Farmers in northern Victoria have been enjoying a reasonable season,” Ms Bull said.

“While rainfall has generally been below average through winter in the north of the state, it is fair to say many farmers in this region tend to see it as favourable to have a slightly drier winter.

“And the Bureau of Meteorology’s recent short-term rainfall outlook is predicting that rainfall is likely to be within the typical seasonal range over much of the eastern half of the country in coming months.”

The next results are scheduled for release in December 2024.