October 12, 2023
Mike Pearson examines the results of the Ag Economy Barometer survey by the Purdue Center for Commercial Agriculture.
The survey discovered farmer attitudes have cooled along with grain prices.
It's the second month in a row that farmers have been slightly less optimistic about the economy.
The survey showed a 1.06 down nine points from the survey in August and it was below the 2022 September level as well. Farmers attribute it to higher inputs and lower grain prices.
Most farmers do not believe now is a good time to make an investment on the farm-- actually 3/4 of those surveyed says it's a bad time.
One quarter of those surveyed say it's a good time to invest due to 3 months of strong cash flow and concern over high interest rates.
Those who say now is not a good time were divided on why: 32 percent say input costs are too high, 25 percent say interest rates are too high; 22 percent say low crops or livestock prices in the future worry then and 5 percent say farm policy.
The question for some is whether the concern over farm policy will grow now that the farm bill has expired.
The one good side in the survey was optimism about farmland values.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.
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