A recent survey of 400 U.S. agricultural producers revealed expectations that financial performance in 2022 will be worse than last year. The survey, conducted by Purdue University and the CME Group Ag Economy Barometer, was conducted just before Russia’s invasion of Ukraine. The survey shows that concerns over sky-high input costs, inflation and supply chain issues mostly outweigh the high commodity prices. Higher input costs remain the top concern (47%) for producers.
Other concerns included lower output prices (16%), environmental policy (13%), farm policy (9%), climate policy (8%), and continued pandemic concerns (7%). Looking ahead, 40% of farmers surveyed stated they have been putting investment plans on hold because of tight machinery inventories. Meanwhile, 53% of farmers say they have no plans to retire or quit farming in the next five years, an increase of 10% since the 2016 survey.
Read more on the Ag Economy Barometer report here.
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