Farmer sentiment continues to decline
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Ag producers continue to show concerns not only about their current situation but the future as well, according to the most recent Purdue University/CME Group Ag Economy Barometer. The university said producers see high input costs as a top concern for their operations over the next year.
The barometer is calculated monthly from a telephone survey of 400 agricultural producers across the country. The newest survey was conducted September 11-15, and saw the barometer fall nine points to 106.
The barometer includes two sub-indices, the Index of Current Conditions and the Index of Future Expectations, which each fell 10 points.
“Weakening prices for major crops and ongoing concerns about high production costs and interest rates weighed on producers’ minds this month,” James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture, said in a news release.
When asked about the top concerns for their farming operations, 33% of respondents said higher input prices, 25% said rising interest rates, and 22% said declining commodity prices.
Purdue said there was a small increase in the Farm Capital Investment Index last month, however 75% of producers continued to say now is a bad time to make large investments in their operations.
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