America’s farmers are feeling a little less confident about the ag economy than they were just a month ago—but, they do believe that U.S. policies are headed in the right direction. That’s according to the latest Ag Economy Barometer survey from Purdue’s Center for Commercial Agriculture.
During the recent survey, which was taken last month, 400 U.S. farmers were given this question:
“Would you say things in the U.S. today are generally headed in the right direction or on the wrong track? 74% said ‘right direction’, while 26% said we’re on the wrong track,” said Dr. Jim Mintert, Professor Emeritus of Agricultural Economics at Purdue University.
He explains that one of the factors why more farmers may agree with President Trump’s economic policies falls in line with a rise in optimism among those same farmers who were surveyed who believe that more new foreign export markets will soon open up to American ag products.
“I think it also kind of gets at this whole idea about the tariffs and the ongoing feeling among agricultural producers that, at the end of the day, producers seem to think that the ‘Tariff War’, so to speak, will play out in favor of U.S. agriculture,” says Mintert.
What are the top concerns for next year among the farmers who were surveyed?
“Higher input cost continues to be the top concern at 39%, while lower crop and livestock prices is second place at the 29%,” according to Mintert.
Dr. Michael Langemeier, Director of the Purdue Center for Commercial Agriculture, notes that there may be slightly different opinions about the future of the ag economy when surveying crop producers versus livestock producers.
“We have to remember that a pretty large percentage of our survey is beef producers, which is about 20% of the survey, and they’re doing quite well—particularly the cow/calf sector, which is seeing record profitability,” according to Langemeier.
CLICK HERE to read the latest results of the Purdue Ag Economy Barometer survey.
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