Farm profits are up and farmers have a spring in their step, a new survey shows.
The Federated Farmers July farm confidence survey, in which 800 farmers were interviewed, shows the highest confidence levels since 2014.
Compared to 12 months ago, the proportion of farms making a profit has doubled, according to survey respondents 55%, versus 27% this time last year.
Federated Farmers’ economics and trade spokesman Andrew Hoggard said the survey result was consistent with the strong recovery in commodity prices and farm incomes since mid-2016 for most farm produce, and the continued absence of farm expense inflation. NZN