Slight improvement to farmer’s economic outlook
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The most recent reading of the Purdue University/CME Group Ag Economy Barometer shows farmer sentiment improved 14 points last month. Purdue agricultural economists say the rise in the overall measure of farmers’ economic outlook was driven by improvement in both current conditions and future expectations.
“Producers in the August survey were less worried about their farm’s financial situation than in July, although they remain concerned about a possible cost/price squeeze,” said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture.
Mintert says U.S. farmers are still uneasy about what input costs will be for crops planted in 2023 as well as the impact of inflation on their family’s expenditures in the year ahead.
The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey.
Click here to access the Purdue Ag Economy Barometer.