FARMERS across southeast Australia have every reason for a spring in their step today.

The season could hardly look more promising, with regular rain and good prices making the immediate future look bright.

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And its official too. Victoria's farmers are the happiest they've been for three years.

The latest Rabobank survey of rural confidence has found the state's farmers are the most optimistic in Australia.

The survey, conducted last month, showed 48 per cent of Victorian farmers believed the rural economy would improve over the next year.

The only factor taking the shine off the best season in years is the threat of locusts and mice, but even this is doing little to dampen farmers' optimism.

Confidence about the season is already spilling over into livestock markets.

In its weekly analysis of the markets, Meat and Livestock Australia said the prospects for a bumper spring "continues to heavily influence livestock markets".

Elders northwest Victorian livestock co-ordinator Kevin Thompson denied producers had "grass fever" but were simply acting on clear business decisions.

"One of the major factors is that the spring is as good as it has ever been in some parts, and the best spring in 10-12 years in other areas," Mr Thompson said.

Booligal NSW Merino breeder Graham Morphett said this year, producers had "hit the quinella".

"We have a good season, good sheep prices and pretty good wool prices," Mr Morphett said.

Rabobank Victorian manager Mark Bennett said he would consider the conditions average in the historical context, but the problem has been that we haven't had an "average" season for almost 10 years.

Higher dairy confidence was also due to good seasonal conditions, strong opening milk prices and the prospect of big irrigation allocations by the end of the year.

Crop farmers also got a great start but the threat posed by locusts and mice had taken the edge off things. "If it weren't for (these threats) I suspect confidence in the grain sector would at historic highs," Mr Bennett said.

Some parts of southern Victoria had also received too much rain.