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Livestock producers keep their confidence high
2 Nov 2004
National Australian Bank's quarterly survey of agribusiness shows that business conditions remained strong in the September quarter. More than half of agribusinesses reported satisfactory business conditions in the quarter, with 15 per cent experiencing relatively good business conditions. The fall in the value of the Australian dollar over the last three months, from its recent peak in February 2004, may have produced a positive effect on sales and profits. The survey also showed that agribusiness reported increased forward orders and export sales. Confidence in sugar and wine continued to be the lowest, while confidence in beef and veal remained strongest among rural commodities buoyed by improving export markets. Confidence in farm chemicals and equipment also eased from the relatively high levels recorded earlier in the year.
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