Why farmers are so conservative

 

Oats too wet to graze

Feed everywhere and barely a blade to eat

What lovely forage oats at the perfect stage to graze! But we can’t. The paddock is too mushy.

Since I took over management of the family farm in 2008, we’ve had a drought, a record price, an unprecedented milk price collapse, unheard-of grub infestation and now, a record-breaking wet season. Volatility in the extreme. Such an unpredictable environment weeds out rash risk-takers in the long term.

We’re seeing urban parallels while the world’s economies reel from one shock after another and the gold price soars as investors scurry for safety. Conservatism is suddenly universally in vogue.