Farmer sentiment took a downturn at the start of 2024 as the January Purdue University-CME Group Ag Economy Barometer Index decreased to a reading of 106. That’s 8 points less than a month earlier. Compared to year-end, producers had a more negative outlook of farms’ current situations along with a weakened outlook for the future. The Current Conditions Index decreased 9 points and the Future Expectations Index decreased 7 points, both compared to December. Anticipated reduced farm income in 2024 significantly influenced the decline across all indices, evident in the Farm Financial Performance Index registering at 85; that was 12 points less than a month earlier. The January Ag Economy Barometer survey was conducted Jan. 15-19.
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.
