The Rabobank, conducted a rural confidence survey and the results show a positive ray of hope for farmers, in New Zealand.

It was found, that the confidence of the farmers had been enhanced by the increasing prices of sheep and beef. Farmers, who lacked confidence, were hampered, by drought conditions prevalent in their region.

34% of the confident farmers were optimistic that rural economy would augment by year 2011 and only 11% felt that there was no chance of any improvement in the economy for the rural people.

Ben Russell, General Manager of Rabobank for Rural New Zealand feels that the prices of sheep and beef had increased due to the fall in the New Zealand dollar rate.

Rates of the farmgate lamb had also increased to 80$, per head. Earlier, it was priced at $70.

Also, 94% of the dairy farmers had hopes of rise in the agricultural sector, which is good, when compared to 88%of farmers who assumed the same in an earlier survey.

14% of the farmers contributed the existing good economic status for the agricultural sector to the good yield this season.

56% of the farmers also felt that their lands' value will remain the same and 26% opined that they expected the value of their land to fall in year 2011.

Among the dairy farmers, 20% hoped to see a rise in their land prices, while 20% felt the rates, would decrease next year.