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Farm Progress America, July 11, 2023Farm Progress America, July 11, 2023

Mike Pearson talks about the economy report released at the beginning of June from Purdue University.

July 11, 2023

Mike Pearson tell us about the Ag Economy Barometer. It's a survey of agriculture producers that lets us know what is happening in the farm economy.

Economists at Purdue University says July's barometer is a little brighter than June-- by 17 points.

It's a survey done every month and has two different components: How things look like now and how things will look from a year from now.

Dr. Jim Minter, director for the Center for Commercial Agriculture at Purdue University, says the barometer this month showed 50 percent of those surveyed expect good times for livestock producers in next five years. But only 25 percent expect good times for crop producers

When it comes to Farm Capital Investment Index 75 percent of those surveyed said it's not a good time for large purchases due to uncertainty, high interest rates and a high cost of construction.

Farm land values are expected to stay high—the high interest rates have not slowed sales down.

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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