Gloomy farmers blame weather
NOT surprisingly, farmers in North Queensland report they are less hopeful for the future than they were last year.
The Rabobank Rural Confidence Survey registered a major drop in confidence following Cyclone Yasi.
Farmers in North Queensland reported the lowest confidence levels of any region in Australia.
“Confidence (in North Queensland) was gradually returning during 2010, but unfortunately poor weather conditions over summer have devastated many parts of the region,” Rabobank north Queensland regional manager Peter Ciranni said.
More than a third of local farmers said they expected the agricultural economy would get worse over the next 12 months.