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Shining Light on Farm & Food Policy for 20 Years.
Friday, September 27, 2024
Farmers’ outlook dimmed sharply in August as commodity prices dropped amid prospects for bumper crops this fall, according to the latest Purdue University-CME Group Ag Economy Barometer.
The monthly Purdue University-CME Group Ag Economy Barometer reported a five-point decline in farmer sentiment in June, three points lower than in May.
A monthly measurement of producer sentiment recorded a slightly higher score in February, but farmer and ranchers are still noting an elevated level of financial concern.
The nation’s producers are feeling a little better about the state of farm finances but are still a little worried about the prices they’ll receive for their commodities, and those they will have to pay for important inputs in the next year.
Farmer sentiment weakened in January on worries about rising input costs and continued supply chain disruptions, according to the monthly Purdue University/CME Group Ag Economy Barometer.
A survey of producer sentiment in May reveals the lowest overall reading since September 2020 and declines in several areas, however, producers expect farmland values to rise over the next five years.