Rural confidence reaches 15-year high

CATTLE INDUSTRY: Recent rain will strengthen cattle prices.
CATTLE INDUSTRY: Recent rain will strengthen cattle prices. Tobi Loftus

RABOBANK'S quarterly Rural Confidence Survey found that rural confidence across Queensland has reached a 15-year high after significant and widespread rain in July.

North Burnett grazier Chris Younger said he had an average winter with regards to rainfall but agreed with the survey.

"I think in areas it has been an above average winter for rainfall," Mr Younger said.

"We haven't actually had better than average where we are but for Queensland in general is has been pretty good."

While Mr Younger didn't get above average rainfall, the positive flow-on effect from statewide rain will be seen in the North Burnett.

"It will help with cattle prices which might lift as a result of re-stockers looking to buy more cattle and the general feed," Mr Younger said.

"Which will keep everyone motivated to keep going forward."

The Rabobank report shows beef is the most positive of the rural commodities with strong projections of a better upcoming year compared to the last.

Rabobank Queensland and Northern Territory state manager Brad James said it was exciting to see confidence rise across the board.

Topics:  cattle cattle prices graziers north burnett rabobank rainfall rural confidence survey winter

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