August 7, 2023
Mike Pearson examines the results of two farm economy surveys.
The Purdue Ag Economy Barometer shows farmers are feeling more positive.
And the Creighton University Rural Main Street Index shows continued strength in the economy for rural communities.
Purdue Ag Economy Barometer-- July edition-- shows continued improvement in how farmers view the ag industry with two key factors increasing.
The index of current expectations and the index of future expectations were higher.
The index of current expectations showed that during the month of June, crop conditions increased and prices while volatile remain high.
It also showed farm operators are also adjusting to the effects of the high interest rates.
The Creighton University Rural Main Street Index also showed growth. The survey indicates the farm economy is doing well. The level index showed a 55.6 -- which indicates steady but healthy growth.
It also showed the third quarter has started on a healthy note.
The survey also showed that more than 90 percent of those surveyed feel the Federal Reserve should stop raising the rates.
Both surveys showed farm land sales are increasing. However, it also showed that investors are winning the land sales.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, a farm broadcaster and host of This Week in Agribusiness.
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