Victoria's farmers are feeling more confident

The results of the latest Rabobank Rural Confidence Survey are in, and it looks as though Victoria's farmers are feeling more confident about the weeks and months ahead.

This survey, which involves approximately 1000 people each and every time it is conducted, shows that nearly half (48 per cent) of Victoria's farmers are expecting conditions to improve next year.

When the Rabobank Rural Confidence Survey was last conducted, only 22 per cent admitted to sharing this optimistic attitude. In addition to this, 35 per cent of those who took part revealed that they expected conditions to deteriorate.

This time around, only 14 per cent of participants had the same doom-and-gloom outlook for the future.

Todd Charteris, state manager of Rabobank in Victoria, said in a September 9 statement that he was not surprised by the results.

"There seems to be cause for optimism for most farmers at present and the drop in the dollar has been welcomed across the board with all commodities benefiting from the softer exchange rate," he said.

A total of 69 per cent of Victoria's dairy farmers think conditions are set to improve, according to the survey, which makes this sector the most upbeat of the lot.

Only 36 per cent felt this way last time the survey was conducted.

"The outlook for the dairy sector is certainly brighter than it was a few months ago, with strong global pricing translating into a higher opening milk price," said Mr Charteris.

He added that Victoria's dairy farmers have been experiencing some "tough climatic conditions" of late, but these appear to have eased.

However, it always pays to be prepared - even when the future is looking incredibly bright!

If you want to make sure your farm is ready to face the bad times, as well as the good, you may want to consider taking out a farm insurance policy.