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Farmer confidence lower: Rabobank

Confidence among farmers is lower after the dry start to autumn and the cut to the price that dairy farmers receive for their milk.

Releasing its latest quarterly survey of rural confidence, food and agribusiness bank Rabobank says farmer confidence was high at the start of 2016 but has since declined.

"At the time of the survey, sentiment in dairy was already low due to the global market downturn and dry seasonal conditions in many dairying areas, but since (then) these concerns have been eclipsed by the recent cut in milk prices," Rabobank's manager of country banking in Australia, Todd Charteris, said on Monday.