Jamie Mackay: The Country host on farmer confidence reaching its highest level in years

Farmer confidence has risen to its highest level in over a decade, rebounding from record lows in recent years, Federated Farmers says.

The advocacy group has released its latest farm confidence survey, which shows falling interest rates, rising incomes and more favourable farming rules have led to the improved outlook. 

The Country's Jamie Mackay explains further.

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Episode Transcript

Speaker 1 (00:00):
So the Financial Markets Conduct of Institution's Amendment Bill has
been plucked from the ballot today. That is the New
Zealand First Amendment Bill that would try and take on
quote woke bank lending. And Jamie McKay is with us.
He's from the country here on newstalksa'd be hi, Jamie,
gooda Ryan, what do you make I mean obviously that

(00:22):
this is going to be a huge issue for in
concern for the rural sector. Do you what are you?
What are your thoughts on whether it'll actually get past
the line?

Speaker 2 (00:33):
Well, I don't know if it'll get past the line,
but I say good on Andy Foster, the former Wellington
there for chucking it in the This is the one
they pull out of the biscuits And is it, Ryan?
Is that where it comes from?

Speaker 1 (00:43):
That's right?

Speaker 2 (00:44):
Yep, yeah, yeah, so it got pulled out this afternoon. Yeah,
because look, I've been on the case of the banks
as well. You can call them woke banks or whatever,
but they've been under huge pressure recently for some of
their more unpalatable lending practices. Federated Farmers, to give them credit,
have been leading the charge on this one. They've been
instrumental in securing the set slectivity inquiry that's currently underway,

(01:09):
and they quite rightly point out that these woke banks,
if you want to call them that, setting different targets
for Australian farmers, the New Zealand farmers. We've got all
this nonsense about dbanking petrol stations, rural based petrol stations
or even some farmers if they don't meet their emissions

(01:30):
reduction targets. And it's worth remembering and reiterating Ryan, the
net zero banking alliance that all the big ossie banks
belong to, the big banks in America have all poured
out of it, you know, the likes the Bank of America, Goldman, Sachs, JP, Morgan,
so Weather. This is just another thing that will fall

(01:51):
over under the Trump regime around the world. Who knows.
But all I know is that the banks have had
it too good for too long. And I say, good
on federated shoving it right.

Speaker 1 (02:01):
Up fair enough, fair enough, I don't. I mean, there
are a whole bunch of reasons I think they shouldn't
do it, but I think regardless it's it won't get
much supportive. I mean Zealand first obviously back but I
can't see well obviously act won't and I can't see
him in the end actually national doing it either. But anyhow,
we'll see how it goes on in Parliament. The confidence survey,
we're looking really strong, Jamie.

Speaker 2 (02:23):
Yeah, well that one came out yesterday, so but I
mean I could have written the confidence surveying myself, to
be honest, ran from just my dialogue with that I
talked to on a regular base. And while it's great,
I'm just trying to drag the numbers. We've gone from
a deeply negative minus sixty six and that is incredibly
deeply negative in July twenty twenty four to a net

(02:46):
positive score of two percent. So that's a massive surge.
But you know, you've got to remember we're only we've
only got a net positive score of two percent, so
that's in terms of economic conditions. But look, to be
fair to the current government and the regime, the markets
have come to the party as well. Most of our
primary sector products are receiving good or in some cases

(03:09):
record prices, like the likes of the likes of beef,
dairy Kiwi fruits very very good. So you know, and
as I said this, I think the other day on
my show. If farmer's confidence isn't up on this, it
never will be. The planets are aligning in twenty twenty
five for a pretty good farming year.

Speaker 1 (03:28):
Absolutely great news and good for all of us because
it reaches us eventually, Jamie, Thank you. Jamie McKay hosted
the Country Here on News Talks EDB. For more from
Heather Duplessy Allen Drave, listen live to News Talks EDB
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