Ag Economy Barometer Rises Slightly in July

According to Purdue’s Ag Economy Barometer, farmer sentiment rose modestly in July despite continuously climbing input costs and lower crop prices. The trend continues with a slight month-over-month increase, although overall sentiment is much weaker than this time last year. In July of 2021, the barometer clocked in at 137, while all three indices that make up the scoring were down between 23%-25% compared to last year.

Uncertainty in the industry draws much of the concern from producers, especially as higher costs don’t seem to be waning ahead of the 2023 growing season. The other primary concerns that prevailed in the barometer scoring were the lower crop and livestock prices. Rising interest rates and input availability were also listed as a top concern among the 400 producers surveyed.

Read more on the Ag Economy Barometer reading here.