Weakening perception of current economic conditions is among the reasons the ag sector lost some positive momentum the past month.
Purdue University/CME Group Ag Economy Barometer
A better outlook on current conditions provided a boost to how producers view the state of the agriculture sector.
Projected improvements in financial performance may be behind the rise in the ag sector’s sentiment about the state of the industry.
High production costs and uncertainty about future economic conditions continue to weigh down the ag sector’s sentiment about the state of the industry.
Rapidly rising production costs is being blamed for the sharp drop in agriculture producers’ perception of current economic conditions.
Rising prices for corn and soybeans provided some boost among farmers about current economic conditions but higher operating costs are a growing concern.
Concerns about how the war in Ukraine will impact crop and livestock prices are among the reasons a Purdue agriculture economic index has fallen.
Rising production costs are having minimal impact on Purdue University’s monthly survey of how the country’s farmers feel about the state of the ag sector.
Farmer sentiment weakened in January as the Purdue University/CME Group Ag Economy Barometer fell 6 points to 119.
Rising operating costs is dragging down farmer sentiment about economic conditions.