The Northern Rivers Times Rural News Edition 168

RECENT CATTLE MARKET REPORTS

WARWICK

LIVESTOCK MARKETS ACROSS SOUTHERN DOWNS W/E 22/09/2023

Again, the Gods were against the weekly cattle sale as the equipment was still creating problems hopefully this will be rectifed by next week.

Sheep and Lamb numbers took a fall as there were 1655 head for the sale, The market was cheaper for most descriptions with very few bonuses paid by the buyers.

Lambs topped at $100 to av $49.07 $1 up on last week

Hoggets topped at $60 to av $20.41 $14 down on last week

Ewes topped at $45 to av $16.50 $2 down on last week

Wethers topped and av $10 $33 down on last week

Rams topped at $64 to av $27.96 $16 down on last week

Lamb Rams topped at $73 to av $19.18 $13 down on last week

Ewe Lambs topped at $26 to av $23.20 $37 down on last week

Total yarding of 1655 head av $38.22 a drop of $6/head on last week.

Pork market remains strong as the processors seek stock.

Boars sold from $38 to $66, Sows from $28 to $360, Pork to $242, Stores from $25 to $163 Roosters sold to $17.50, Hens to $40, Trios to $32.50, Bantam pairs to $45, Quails to $25, Hen & chicks to $75, Ducklings to $25, Goslings to $25

MC DOUGALL & SONS SHEEP & LAMB REPORT

How low can the market go? This was the question being asked by most vendors as we moved through the weekly results. Agents yarded a total of 1655 head to the weekly sale. The sheep were drawn from near and far with the Maranoa , Western plains and local and Traprock areas supplying stock. The buyers were short one in the export lines and there were limited re stocker interests.

Lambs topped at $100 to av $49.07 ($1up), hoggets topped at $60 to av $20.41($14down), Ewes topped at $45 to av $16.50($2down), wethers topped at $10 to av $10 ($33down), Rams topped at $64 to av $27.96 ($16 down), Lamb rams topped at $73 to av $19.18 ($13 down), Ewe lambs topped at $26 to av $23.20 ($37 down). The sale av of $38.22 for the 1655 head yarded was $6/head down on last week.

Lloyd Hulin sold Dorper lambs 58kg to Grants Quality

Meats for $96, 40kg to Highchester Meats for $66, 60 kg hoggets to Grants quality Meats for $60

Rory & Kathy Frost sold Dorper lambs 43.6kg to GR

Prime for $79

Robinson & Elder sold Dorper x lambs 45.4kg and 43kg to restockers for $57 and $43

Bellvue Cattle Co sold Border Leicester x lambs 62kg to Thomas Foods for $80, 57.5kg to Take IT Easy Meats for $80

RPC sold Dorper lambs 50kg to Warwick Meats for $70, 42kg to Warwick Meats for $45, 41.7kg to Leslie Lamb for $38, 54 kg to Thomas Foods for $73, 50kg to GR Prime for $70, 45.7kg to restockers for $40, 36.6kg to restockers for $31, 41kg ram lambs to Whites Trading for $12, 58kg hoggets to Granta Quality Meats for $45, 58kg to restockers for $25Dorper x ewes to Thomas Foods for $28

Wonga Dell P/L sold Merino wether lambs 58kg to Warwick Meats for $35, 53.6kg to Gr Prime for $30, 44 & 43 kg to restockers for $24, Ewe Lambs 44kg to 49kg to restockers for $26, 37kg to 40kg to restockers for $23, 32kg to restockers for $10Merino ewes and wethers to Thomas foods for $10, to restockers for $2.

Nic & Penny Carey sold Dorper x ewes to restockers for $31

Farmers workshop the bill-busting benefts of renewable energy

Farmers for Climate Action

Farmers from across northern Victoria will come together at a series of free On-Farm Renewables workshops to hear about the benefts that renewable energy, storage and electrifcation can bring to their farm business and communities.

Farmers for Climate Action is delivering workshops in the frst week of October for farmers and community

members in Seymour, Echuca, Bendigo, Mildura and Euroa. Farmers can hear from experts in electrifcation and renewables, and other farmers who have made the switch to cheaper, cleaner energy.

“I’ve been talking with producers across northern Victoria who are excited about the opportunities from switching to renewables and electrifying their farms, but want to know more,” said Atienne Bakker-Szumer, Community Programs

Manager at Farmers for Climate Action.

“Climate change is making farmers’ jobs harder, but primary producers are keen to do what they can to protect their business and the future of farming in our regions.

“Embracing renewable energy and storage solutions is one thing farmers can do to lower their power bills and increase their resilience in the face of a hotter climate,” said Mr Bakker-Szumer.

Key speaker

Russell Klose, based in Yackandandah, brings extensive practical experience in electrifcation and renewables to the workshops. A long-term regional Victorian, Mr Klose’s background is in the auto industry and he now imports used electric vehicles and consults on electrifcation and practical applications of renewable energy systems. Additional local speakers will join the events, bringing

information and examples to share with fellow farmers. The workshop series will take place in the frst week of October. The events are free to any farmer or community member. Locals can register to attend the event at the Farmers for Climate Action website here. https:// farmersforclimateaction. org.au/portfolio/on-farmrenewables-roadshownorthern-victoria/ On farm renewables workshop times and dates:

Seymour: Monday 2nd of October, 5:30pm, The Prince Hotel Echuca: Tuesday 3rd of October, 10:30am, Echuca Neighbourhood House

Bendigo: Tuesday 3rd of October, 5:30pm, Queens Arms Hotel Mildura: Wednesday the 4th of October, 6pm, the Gateway Mildura Euroa: Thursday the 5th of October, 4pm, Seven Creeks Hotel

El Niño offcially returns, heralding hotter, drier conditions and increased fre danger for Australia

Climate Council

AUSTRALIANS are urged to prepare for hot, dry and potentially dangerous fre conditions, as the Bureau of Meteorology has offcially declared an El Niño event underway.

The Bureau of Meteorology’s update comes as fres burn across the Northern Territory, Queensland and New South Wales. In Sydney, today marks the hottest three consecutive days ever recorded during September alongside the announcement of a total fre ban, catastrophic fre conditions for the south coast, and school closures in some areas. At the same time abnormally high sea temperatures over recent months have triggered a red alert among scientists. They warn that we’re speeding towards uncharted and dangerous territory.

The Climate Council has reinforced the need to move away from fossil fuels and strengthen Australia’s environment laws to consider climate impacts of any new projects. Tomorrow, the organisation will release a report that warns of the scorching consequences of a failure to reduce our emissions this decade.

Climate Councillor and leader of the Emergency Leaders for Climate Action (ELCA) group, Greg Mullins said: “An El Niño event can be like putting fre weather

on steroids. With the warmer and drier conditions it usually brings, we could be looking at an extended and potentially volatile fre season. Already signifcant fres have been raging nationwide, including in NSW, Queensland, WA and the NT. A fre near Tennant Creek has already burned hundreds of thousands of hectares, and the entire Northern Territory has been declared a fre danger zone until next March. Nationally, we’re warned of a hotter, drier Spring and Summer.

“Climate change just adds to what El Niño conditions can bring, by driving even higher temperatures and extreme weather including strong winds that can turn fres into

infernos.

“Aussie communities are resilient, but let’s not forget that being ready, staying alert and listening to fre service warnings are our best defences when facing heightened fre danger brought on by an El Niño event, worsened by climate change.

“The Government needs to implement all 80 recommendations of the Bushfre Royal Commission without further delay, and signifcantly increase disaster adaptation and resilience spending as we do everything we can to drive down greenhouse gas emissions.”

Climate Council CEO Amanda McKenzie said: “The era of climate consequences is all around us and it is being

driven by the burning of fossil fuels - coal, oil and gas. Australians are right to be concerned about what an El Niño period will mean for us. That’s why the Climate Council is calling on the Australian government to accelerate their review of Australia’s environmental law to make sure that it deals with climate change.

“Right now, coal and gas corporations can get away with building projects that pollute our air, our waterways and the atmosphere. A strong national environment law will safeguard our health, grow the economy and protect our treasured natural places.”

Climate Council Research Director Simon Bradshaw added: “The devastating extreme

weather we’re seeing around the world is exactly what climate scientists have been warning us about for decades. That same science tells us we can still choose what our future looks like. Through stronger action now we can substantially limit future climate harms.

“In recent months we’ve seen southern and central Europe, the US, China, North Africa, and Japan all experience extreme heatwaves. India and South Korea have suffered deadly foods. Canada has just experienced its worst wildfre season on record, with scenes eerily reminiscent of Australia’s Black Summer. This is what climate change looks

like.

“Climate changedriven by the burning of coal, oil and gas - is supercharging the impacts of El Niño events, and is likely also increasing the frequency of strong El Niño events.

“The prospect of a powerful El Niño, against the backdrop of a warming planet, is another urgent call for faster action to move beyond fossil fuels and get emissions plummeting. Our very way of life, the vitality of the ecosystems that support life, and the safety of all communities are at stake.”

Editor’s Note: Climate change is supercharging extreme weather events such as fres and foods, and threatening Australia’s way of life. The CSIRO says strong El Niño and La Niña events have become more frequent due to increasing greenhouse gas emissions from the burning of coal, oil and gas, which are driving dangerous climate change.

The return of El Niño is likely to see unprecedented heat extremes globally and the return of dangerous fre conditions to parts of Australia, particularly the east. El Niño largely affects eastern Australia and typically brings drier and hotter conditions. This can lead to an increased risk of more frequent and severe heatwaves, bushfres, and drought across parts of the country.

Designing an award-winning future for ag

The prestigious Good Design Awards has recognised Department of Agriculture, Fisheries and Forestry (DAFF), Tobias and Thinkplace for two projects in ag policy and trade spaces.

The Compliance Capture and Compliance Insights digital tools and the Modern Workforce Management and Planning Practices Project were announced as winners on Friday 8 September.

Acting Deputy Secretary for Agricultural Trade Nicola Hinder PSM said the digital tools have reshaped the landscape of regulatory compliance by removing obstacles and improving services for exporters and for DAFF.

“The tools are the result of a partnership between Tobias, a strategic design and innovation consultancy and DAFF’s Taking Famers to Market

program team,” Ms Hinder said.

“These tools give government a real opportunity to make

streamlined export experience.

“I’m pleased to see hard work and collaboration recognised

Project, a project by strategic design consultancy, Thinkplace, provides practical support for agricultural

under the AgFAIR program.

Deputy Secretary for Agriculture, Fisheries and Forestry Policy

years to come.

“This award recognises the rigorous work it took to develop a set of practical tools and materials to assist employers to navigate disruptions and challenges in the labour market,” Ms Deininger said.

“Adoption of modern workforce management and planning practices will help reposition the agriculture sector as an employer of choice and assist in securing skilled workers in a highly competitive market. Helping employers attract and retain staff will in turn help the agriculture sector get closer to its goal of being a $100 billion industry by 2030.”

it easier for producers and exporters to get their goods to overseas markets through a more

with this award.”

The Modern Workforce Management and Planning Practices

employers for implementing modern workforce management and planning practices

Rosemary Deininger said the project will help to strengthen the agriculture workforce for

The Australian Good Design Awards are the country’s oldest international awards for design and innovation, established in 1958.

NSW DPI to support beekeepers in transition to management

Following the recent decision of the National Management Group (NMG) to transition the Varroa mite emergency eradication response to a Management Response Plan, NSW Department of Primary Industries (DPI) is working with industry on next steps.

NSW DPI Director General Scott Hansen said that NSW will operate under an interim management strategy, which has been published in a new Emergency Order, while a National Management Plan for Transition to Management is being developed.

“Following the NMG decision yesterday to transition to management, the NMG also agreed to an interim strategy to limit the impacts and slow the spread of Varroa mite, which NSW DPI has begun working with all our stakeholders to implement today,” Mr Hansen said.

“We will continue to provide information and

support to industry, using learnings from the past ffteen months during which the spread of this invasive mite has been signifcantly delayed thanks to the tireless efforts of the response team.”

NSW DPI Deputy Director General Biosecurity & Food Safety, Dr John Tracey said under the conditions of the interim

management strategy, the whole state will either be in a Suppression Zone or Management Zone.

“The only Management Zones will be in the existing Emergency Eradication Zones in the Kempsey, Hunter and Central Coast regions,” Dr Tracey said.

“Free movement will be allowed within Management Zones, and movement outside

Management Zones will be allowed under risk-assessed permit conditions.”

“The rest of the state will be classifed as being in the Suppression Zone, where hive movements will be allowed so long as movement declarations are completed.”

Dr Tracey said the interim management arrangements are

designed to balance risk with business continuity.

“Beekeepers in all current Emergency Eradication (red) Zones will have the option of voluntary euthanasia of hives and subsequent access to Owner Reimbursement Compensation payments if they meet certain conditions,” Dr Tracey said.

“NSW beekeepers have

been through a lot over the past ffteen months, so I want to remind them to reach out to DPI as we have a range of tools to support them through these challenging times.” Under the interim strategy, all beekeepers in NSW will still be required to complete hive testing (alcohol washing, soapy water wash or miticide strip and sticky mat) and report results to DPI every 16 weeks. Where results indicate a mite infestation DPI will supply miticide strips to be installed in infested hives.

Hive movement declarations must be submitted to DPI for all movements of hives and all miticide treatments must be recorded and reported to DPI.

For more information visit the NSW DPI Varroa mite website at www.dpi.nsw.gov.au/ varroa or contact the Varroa mite Hotline on phone 1800 084 881.

Weather bureau confrms what farmers are already experiencing - it’s getting hot and dry

Farmers for Climate Action

Farmers for Climate Action is calling for urgent action to limit climate change as it emerges farmers are offcially facing an El Niño weather pattern after three years of La Niña.

The Bureau of Meteorology today declared Australia

is offcially in an El Niño weather pattern, meaning warmer drier conditions are more likely for south-eastern Australia, and this will be made more extreme by climate change.

Already some farmers, including Farmers for Climate Action member Peter Lake who farms near Grafton on the NSW North Coast, are offcially in drought

conditions after battling foods 12 months ago.

“It turned from mud to concrete in a couple of weeks and suddenly everything was just dry. From food to drought, climate change is making the changes more extreme,” Mr Lake said.

Farmers for Climate Action Chair Brett Hall, who farms in the Derwent Valley in Tasmania, said

many farmers were concerned about the possibility of warmer, drier conditions and increased weather variability for eastern Australia this spring and summer.

“Although some farmers have had reasonable conditions recently, we know things can change in a few months.”

Mr Hall said that Australian farmers are

great at adapting, but that ultimately we need to address the driving cause of climate change - emissions.

“Farmers are always looking three steps ahead to the next event but there are limits to their adaptation. While we adapt and mitigate on-farm, we need to know the rest of the economy is doing its bit to reduce emissions and tackle climate change,

which is causing more frequent and severe weather events.”

Farmers for Climate Action, an organisation representing 8000 farmers, hosted a webinar “El Niño explained” in July bringing together a range of speakers, including from the BoM and Birchip Cropping Group to help farmers prepare.

Three individuals have been penalised after an attempt to import succulents was intercepted by the Department of Agriculture, Fisheries and Forestry.

Deputy Secretary of Biosecurity Dr Chris Locke said these outcomes are a warning to anyone who ignores Australia’s biosecurity laws.

“We have three individuals who had the potential to seriously endanger Australia’s environment through the illegal importation of a high volume of succulents from overseas,” Dr Locke said.

“The plants were discovered in packages that had been misdeclared in order to circumvent the department’s biosecurity controls.

“Some of the plants imported were considered high-risk as they could have been carrying dangerous pathogens, including Xylella fastidiosa. Others in the collection

Thorny end for cactus racket

were at serious risk of becoming weeds and causing irreversible harm to Australia’s environment and

agricultural industries.”

These individuals attended court in New South Wales and Queensland and have

all been found guilty of serious offences under the Biosecurity Act 2015, resulting in fnes of up to $20,000 being

applied to one individual and a 12-month good behaviour bond applied to the other.

The third individual

was found guilty of 30 contraventions of the Biosecurity Act 2015 and sentenced to 10-months imprisonment. However, they were released immediately upon entering a 12-month, $2,000 good behaviour bond.

“Any breach of Australian biosecurity laws is taken extremely seriously, and huge penalties await those who deliberately break the law,” Dr Locke said.

“An attempt to make a quick buck has now cost these individuals thousands. It’s a sharp lesson for them and a sombre reminder for us that we cannot afford to be complacent about biosecurity.

“Our strong biosecurity laws are there to protect more than $90 billion worth of agricultural production and $5.7 trillion worth of unique, environmental assets.

“Biosecurity is a shared responsibility, and we all need to play our part to keep our country safe.”

Varroa mite decision requires response

Today the National Farmers’ Federation Horticulture Council is calling on the Albanese Government to respond to the decision to stop the Varroa Mite eradication effort with a clear commitment to conclude its review of the legality of levying containerised cargo under international law before the end of the year.

Council Chair Jolyon Burnett said while a funding increase for biosecurity activities was welcomed as part of the last Federal budget, it is abundantly clear more support for the biosecurity system will be required.

“The Varroa Mite cat is now out of the bag in Australia, and there’s no putting it back in.

This is devastating for the apiarists who are now faced with living with a pest that has fundamentally changed

the beekeeping industry wherever it has been endemic overseas,” he said.

“It’s also going to have signifcant impacts on the commercial horticulture industry and many unforeseen consequences for the

wider agricultural industry and food supply.

“But we should be under no illusion this incursion will be the last. We have no time to spare in investing in our system, to keep other threats out of the

country and to prepare for the next emergency response.

“The most comprehensive review of our biosecurity system and its funding arrangements was led by eminent Australian scientist Wendy Craik

and reported back in 2017. One of its leading recommendations on funding was the creation of a charge on containerised cargo arriving by sea as a primary risk creator for our biosecurity system.

“It’s a

recommendation the last Coalition Government committed to before buckling, presumably under pressure from importing industries.

“It’s now a recommendation the current Albanese Government is at risk of kicking down the road or dodging altogether.

“By all means test its consistency with international obligations, but if its good enough for Wendy Craik to recommend and the last government agree to, then we can’t see why a review shouldn’t be fnished before the end of 2023.

“Any lack of urgency from government to review the cargo charge will be compared unfavourably by farmers with the government’s rush to design and impose a new biosecurity levy on industry from July next year.”

Seasonal and market concerns weighing on Australian farmer sentiment

Australian rural confdence has declined in the latest quarter, with increasing concerns about lower commodity prices and the prospect of a return to drought weighing on farmer sentiment.

However, Australian farmers are feeling less pressure from interest rates and overseas markets/economies, according to the latest quarterly Rabobank Rural Confdence Survey, released today.

Overall, national rural confdence was found to have dropped to the fourth lowest level in two decades.

More than half of Australian farmers (51 per cent) surveyed expect the agricultural economy to worsen over the next 12 months (up from 35 per cent with that view last quarter).

A total of 10 per cent expect an improvement (back slightly from 13 per cent last survey), while 37 per cent expect the agricultural economy to remain stable in the year ahead.

Among those farmers reporting a negative outlook, there were increasing concerns about lower commodity prices – cited as an issue by 60 per cent, compared with 56 per cent last quarter. Drought was also a growing worry – nominated by 32 per cent with a pessimistic outlook (compared with 20 per cent previously).

Of those producers with an optimistic outlook this survey, expectations of rising commodity prices were a key driver (for 61 per cent). While fewer were expecting good seasonal conditions (19 per cent, compared with 33 per cent in quarter two) but more were confdent in overseas markets (20 per cent, up from 14 per cent).

Rabobank group executive for Country Banking Australia, Marcel van Doremaele said farmers with a positive outlook were refecting the hope that the sector had weathered the worst of price cycles and was now coming out the other side.

“It has certainly been a period of adjustment for

our agricultural sector, as we come off historicallyhigh commodity prices, especially for the cattle and lamb sectors,” he said.

“Last quarter we saw stabilisation of confdence in some states, but now it’s fallen consistently across the nation on the back of dry seasonal conditions paired with softer commodity prices.”

Mr van Doremaele said seasonally, farmers had been dealt a mixed hand across the country.

“While some winterrainfall-dominant regions have received benefcial falls to set them up for spring, other areas are grappling with the double-whammy of both a dry start and a dry fnish for crops,” he said.

“It’s fair to say the potential of what may happen through the crucial spring period does have many producers on a knife’s edge, especially in regions where winter didn’t deliver rain as hoped.”

States

The survey, completed last month, found farmer sentiment to be down across all states this quarter, with New South Wales and Western Australia reporting the lowest levels of rural confdence and both recording signifcant declines from the previous survey.

Mr van Doremaele said there were “two very different seasonal situations at play” in New South Wales – with central, western and northern areas very dry – while in southern regions and through the Riverina, farmers have generally been enjoying good seasonal conditions.

For WA – unlike other states, where falling commodity prices consistently topped the list of concerns this quarter – government intervention/policy was the leading factor for half of the state’s farmers who expect the agricultural economy to worsen.

Mr van Doremaele said this refected the looming phase out of live sheep exports, which was an issue for many

farmers in that state.

South Australian farmer sentiment also declined signifcantly this quarter, after holding steady in the previous survey, with worries about a drier fnish to the cropping season adding to commodity concerns.

For Tasmania, Mr van Doremaele said, the downward trend in red meat prices was the major factor driving lower farm sentiment.

In Victoria, while rural confdence was down on last quarter, the decline was comparatively small, with the state’s farmers also more positive than in the rest of the nation.

Mr van Doremaele said Victoria was currently enjoying “generally good” seasonal conditions in most areas.

Farmers across much of Victoria have enjoyed a strong start to the season, but they are now very aware of the potential of drier conditions ahead, and this outlook will be weighing on their minds,” he said.

Commodities

Mr van Doremaele said while confdence had declined across almost all commodities in the latest quarter, cotton had bucked the trend with increasing optimism found among growers.

And, while there was otherwise declining sentiment among the other commodity groups, there were “nuances” in their concerns.

“For example, in the sheep industry, softening commodity prices have been compounded by the federal government’s planned phase-out of the live export industry, which is weighing on the minds of producers especially, but not only, in WA,” he said.

“And while competition for milk among processors has delivered strong prices locally, Australian dairy farmers are now assessing the impact of industry events further afeld, such as what will happen with the heifer market into China and how Fonterra’s announcement of reduced milk payouts in New Zealand could

impact our domestic market.”

As livestock producers deal with easing commodity prices, along with the prospect of a drier year ahead, confdence dropped across the board in these sectors.

Sheepmeat producers were found to have the lowest levels of sentiment of all the individual commodity sectors.

More sheep producers expect the agricultural economy to worsen (61 per cent, up from 40 per cent last quarter), driven by increased concern about falling commodity prices (71 per cent, up from 57 per cent) and drought (21 per cent, up from eight per cent).

Confdence also declined in the beef sector, falling from net -21 per cent to -37 per cent quarter-on-quarter. However, there was positive movement in the number of beef producers who believe the economy will improve, up from 11 per cent last quarter to 13 per cent this survey.

In the dairy industry, confdence dropped back to -29 per cent from -15 per cent with fewer respondents expecting conditions to improve. Although falling commodity prices remain a concern, it was less of a worry (64 per cent, back from 69 per cent last quarter) but dairy farmers had increased concerns about rising input costs (40 per cent, up from 28 per cent) and drought (nominated by 19 per cent as a cause for concern, up from seven per cent).

Cotton was the only sector to buck the negative trend, with net confdence bouncing from -20 per cent to fve per cent this quarter.

“Although there has once again been a mixed bag of seasonal conditions for cotton producers, the cotton industry – contrary to the majority of agricultural commodities – has welcomed price improvements in markets in recent months which has buoyed confdence,” Mr van Doremaele said. Sentiment among

sugar cane growers was also down, despite sugar prices reaching record levels.

“Some of Queensland’s sugar producers have been challenged in recent months by harvest delays created by wet weather,” Mr van Doremaele said. “These delays have not affected quality and yield, just slowed the crush down considerably.”

Farm performance and investments

In line with concerns about commodity prices and the seasonal outlook, more than half of Australian farmers surveyed expect their gross farm income to decrease in the year ahead (54 per cent) and only 14 per cent anticipated incomes to increase.

Overall, this survey found more producers are looking to rein in their investment plans for the coming year, with net investment intentions declining to the fourth lowest level in the survey’s history.

Only 15 per cent of Australian farmers expect to increase investment in their farm business in the coming year (back from 21 per cent last quarter) while 22 per cent plan on reducing investment (up from 13 per cent). However 62 per cent still intend to maintain investment at existing levels.

“Farmers are becoming increasingly cautious as reservations about declining seasonal conditions dovetail into general apprehension about markets. As budgets tighten, appetite for spending is naturally curtailed,” Mr van Doremaele said.

“That’s not to say there isn’t still interest in strategic investment such as land expansion, however farmers are factoring in interest rates, softer commodity prices and the seasonal outlook before committing to investment projects.”

This was refected in how Australian farmers plan on allocating new investment over the next 12 months, with more nominating purchasing

property to expand their operation (26 per cent, up from 21 per cent last quarter). However, investment plans across almost all other areas reduced this quarter.

“We see that prices for land are holding up really well, especially for cattle properties, but there are just fewer buyers,” Mr van Doremaele said.

Across sectors, there were mixed investment intentions.

“While fewer sheep and beef producers plan on increasing investment in their businesses over the next 12 months, the competition for raw milk by processors has maintained strong dairy farmer confdence about investing back into their businesses,” Mr van Doremaele said.

More dairy farmers indicated they plan on investing in their business (31 per cent, up from 25 per cent last quarter) whereas 12 per cent of beef producers and nine per cent of sheep producers intend to increase investment (down from 16 per cent and 15 per cent respectively, quarter-onquarter).

And, even though confdence among cotton growers had improved in the latest survey, this wasn’t enough to drive up investment enthusiasm and only 20 per cent of cotton producers plan on increasing investment in their businesses, a drop from 42 per cent in the previous quarter.

A comprehensive monitor of outlook and sentiment in Australian rural industries, the Rabobank Rural Confdence Survey questions an average of 1000 primary producers across a wide range of commodities and geographical areas throughout Australia on a quarterly basis. The most robust study of its type in Australia, the Rabobank Rural Confdence Survey has been conducted since 2000 by an independent research organisation. The next results are scheduled for release in December 2023.