The Current Conditions Index declined by nine points compared with December and the Future Expectations Index by seven.
Producers who cited lower commodity prices and lower farm income in 2024 significantly influenced the decline across all indices., the Purdue University team said.
Thirty-one per cent of the producers surveyed anticipate a decline in financial performance; that’s up from 20 per cent a month ago.
On the brighter side, At the same time, 53 per cent anticipate their financial performance will hold steady, but that’s down from 63 per cent in December.
For the first time, the percentage of producers choosing lower commodity prices as a top concern matched the percentage of producers who chose higher input costs.
This combination indicates that U.S. farmers are worried about a possible cost/price squeeze leading to lower farm incomes, the study team said.
Farmers are showing interest in selling carbon credits.
Eight per cent said they have held discussios with companies dealing in carbon credits.
Sixty one per cent were offered payment rates of less than $10 per metric ton; 12 per cent were offered $30 or more.
