Farm Progress

Farm Progress America, October 8, 2024

Mike Pearson takes a look at the monthly survey by Purdue University CME Group on the ag economy. There was a 12 point decline which is the lowest level of optimism among farmers since 2016.

October 8, 2024

Mike Pearson tells listeners how the Ag barometer-- a monthly survey by Purdue University's CME Group shows the lowest optimism in the future of agriculture since 2016.

According to the survey, farmers are struggling with high input costs, declining income and weak commodity prices.

All of these factors are reflected in the September edition of the Purdue University/CME Group Ag Economy Barometer.

Farmers haven't been this concerned about their futures since 2016.

It’s notable that producer sentiment dropped back to levels last seen in 2016 when the U.S. farm economy was in the early stages of an economic downturn.

The survey cited two problems: High input costs and low commodity prices.

Interest prices are also a concern for farmers who are trying to pay down debt.

And if that's not enough on many farmers' minds, many are uncertain about ag exports and concerns about changes in politics after the November election.

The Farm capital investment index increased a few points but overall most farmers surveyed feel this is a poor time to invest in new equipment or making any big improvements in their operation.

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.

Related:7 ag stories you can’t miss – August 2, 2024

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