Rabobank’s latest quarterly survey apparently found that rising input costs and inconsistent rainfall has caused a drop in Australian farmer confidence. Gee, I wouldn’t have thought you would need to be Einstein or run an expensive survey to work that one out!
The survey, apparently questioned around 1200 farmers, found that 38 per cent of farmers expected the agricultural economy to improve over the next twelve months, down from 52 per cent last quarter. Despite the drop, the number of farmers who believe the situation will improve was still above the amount who believe it will deteriorate, which was at 22 per cent, up from 15 per cent in the last survey….And apparently Rabobank’s general manager of Rural Australia Peter Knoblanche said, “without significant winter rain, growers may be prevented from taking advantage of good commodity prices”. (businessspectator.com.au)
This type of meaningless drivel could be of use in a shares stock market that operates to a certain extent on emotion and herd mentality. However, in regard to Australian farming and farmers, it makes me think 3 things;.
1. Whoever is spruiking this type of media release (in this case, Rabobank) is simply looking for a ‘respectable’ excuse to market their brand and gain some additional marketplace credibility from it.
2. Banks have way too much money to be able to waste it this way and perhaps should look at decreasing their rates by cutting their marketing spend.
3. Australia’s farmers are in a valuable market niche segment that deserves more respect from so many brands and marketers, whether local or city-based.
What are some surveys you would like to see performed? Who agrees with mandatory standardised meat quality assessments? Succession planning? Whether the weather is going to be all rosy at your place within 3 months? Whether your representative farmer groups are representing you well enough? What methods you might be able to use to decrease input costs?
Let us and your mates know via the ‘Comments’ link below.
