Saturday, May 25, 2024
HomeAg NewsFarmer Sentiment Drops in August

Farmer Sentiment Drops in August

Producer sentiment lowered during August as the Purdue University/CME Group’s Ag Economy Barometer dipped eight points to a reading of 115.

The month’s decline was driven by producers’ weaker perception of current conditions on their farms and throughout U.S. agriculture. The Current Conditions Index fell 13 points to a reading of 108. The Future Expectations Index also dropped by five points to a reading of 119 in August. Rising interest rates and concerns about high input prices continue putting downward pressure on producer sentiment. When asked about their top concerns over the next year, 34 percent of survey respondents said higher input prices and 24 percent said rising interest rates.

Even though crop prices weakened during the summer, only one in five producers chose declining commodity prices as one of their top concerns. The Farm Capital Investment Index was lower this month, dropping eight points to a reading of 37.

RELATED ARTICLES
- Advertisment -

Latest Stories