Farmer sentiment weakened in June as the Purdue University-CME Group Ag Economy Barometer decreased to 146, from 158 a month earlier. The shift in farmer sentiment was primarily attributable to a change in producer expectations for the future; the Index of Future Expectations dipped 18 points to 146. At the same time there was little change in the Current Conditions Index, which decreased just 2 points to 144. Shifting perceptions regarding the agricultural-export outlook appeared to be a key reason behind producers’ weaker outlook; fewer producers expressed optimism about future ag exports. Despite this month’s declines, all three indices remained much better than year-ago levels. The June barometer survey took place June 9-13.
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James Mintert
Michael Langemeier
James Mintert and Michael Langemeier are agricultural economists with Purdue University. Each month the Ag Economy Barometer from the Purdue University-Center for Commercial Agriculture surveys 400 U.S. agricultural producers to discern attitudes and sentiments regarding the status of the U.S. farm economy. Each quarter 100 agribusiness leaders are surveyed to provide additional insight into the health of the agricultural economy. Visit ag.purdue.edu for more information.
