Farmer sentiment declined in December although producers remain optimistic that economic conditions will improve over the next several years, according to the monthly Purdue University-CME Group Ag Economy Barometer.
The survey’s overall index of farmer sentiment fell 9 points to 136 in December as the index for current conditions dropped 13 points to 100. The current conditions index is still 24 points above its September low, however, and the index for future expectations dropped just 8 points to 153.
The survey was conducted Dec. 2-6 ahead of congressional approval of $10 billion in payments to farmers as compensation for declines in commodity prices for row crops.
The share of farmers “who expect widespread good times in U.S. agriculture over the next five years rose to 57%, up from 52% a month ago and 34% in October,” according to a summary of the survey.
“The expectation for good times extended to both the crop and livestock sectors, with the percentage of respondents expecting good times increasing by 4 points for crops and 5 points for livestock,” the summary said.
