Ag Economy Barometer Declines, Producers Concerned About Rising Costs and Supply Chain Disruptions

November brought the highest farmer sentiment reading since June, with the Purdue University/CME Group Ag Economy Barometer jumping 10 points from October to 139. The increase was driven primarily by producers’ more optimistic outlook for the future. Purdue ag economists James Mintert and Michael Langemeier review the results from the November Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.

U.S. farmer sentiment edged slightly higher in October, with the Purdue University/CME Group Ag Economy Barometer rising 3 points to a reading of 129. Farmers’ appraisals of current conditions highlight a “tale of two economies”: Livestock producers remain highly optimistic about their farm conditions, partly supported by record-high profitability in the beef sector, while crop producers report a more pessimistic view of the current situation on their farms due to low profit margins across major crop enterprises. Purdue ag economists James Mintert and Michael Langemeier review the results from the September Ag Economy Barometer and give their insights into farmer sentiment and the farm economy.