While farmers were less pleased about their current circumstances in December, they are more optimistic about the five-year future because they expect policies under Donald Trump’s presidency and his Republican supporters the Congress and Senate will be more favourable.
The percentage of producers anticipating widespread good times in U.S. agriculture over the next five years increased to 57 per cent in December from 52 per cent in November and 34 per cent in October.
But the index for current conditions declined 13 points to 100.
The survey involves about 700 farmers and is conducted by Purdue University and the Chicago Mercantile Exchange.
More than 40 per cent said they think trade policy will be the biggest challenge this year.
When asked about financial conditions on their farms compared to a year ago, 57 per cent said their situation is worse and that’s an increase from 51 per cent who said that in November.
Fifty-one per cent expressed concern about the U.S. agricultural economy over the next 12 months, an increase from 40 per cent in November.
