Tuesday, June 7, 2022

Survey finds farmers are worried

The Purdue University/CME Group Ag Economy Barometer dropped to its lowest level since April 2020, down 22 points in May to a reading of 99. 

Farmers are worried about rising costs and wonder where it’s all heading.

As a result, those who think this is a good time to invest dropped to only 13 per cent.

Thirty-eight per cent think their farm finances will fare worse this year than last, up from 29 per cent in April.

Two indices, one for current conditions, the other for the future, both declined by more than 20 per cent since April.

The results are from a monthly survey of 400 U.S. agricultural producers.