After the wettest summer on record, many farmers have reported that they have been set back by the weather. In fact, a recent poll with 626 arable farmers has revealed that almost half (49%) have been set back between 2-4 weeks (see chart below).

Investment – an indicator of future optimism?

The vast majority (88%) of arable farmers in GB had made a major investment in the farm. The investments cited were wide ranging, with the most common one being a tractor (purchased by 27% of farmers). Other responses included a combine (8%), machinery implements (5%) and a sprayer (4%). The investments were made an average of 18 months ago (from the time of the interview).

Just over two-thirds of GB arable farmers (69%) were NOT planning to make investments in the near future, a similar finding to previous years’ results. The investments cited by those who were planning to make one, were again extremely wide ranging hence there was no particular common investment. On average, at the time of interview, arable farmers planned to make their investment in seven months’ time.

Future position of farm is more certain than previously

A survey by the National Farm Research Unit (NFRU) reveals that, since last year, many more arable farmers in Great Britain believe that there would be ‘no major change’ in the position of their farm over the next few years (71% in 2007 compared to 56% of all farmers – arable and livestock – in 2006). However, just under a fifth (18%) of the arable farmers interviewed this year said that they were ‘unsure’ of the position of the farm over the next few years. Although, there is less uncertainty than last year when 26% of all farmers (arable and livestock) were unsure of their farm’s future. The vast majority (81%) expected the farm to stay in their family.

Non-farming income continues to support farming

Under a fifth (16%) of arable farms were raising some income from non-farming activities. On average, those farmers estimated that such activities accounted for a third (33%) of their income. A wide range of non-farming activities were cited, with the most common being equine/livery (14%) and residential letting (13%).