Farmer optimism fuelled by favourable conditions

Australia’s farming sector has gained confidence in the third quarter after improved livestock prices and increased winter rain in many regions. A variety of commodities apart from cotton has ticked up across all states. Rabobank senior macro strategist Ben Piction told Sky News Australia seasonal conditions were “challenging” earlier this year, but improved circumstances have created a “bounce”. “Broadly, if you’re in farming, more rain is a good thing,” Mr Picton said.