The biggest driver of the sentiment improvement was an increase in producers’ confidence in the future, as the Future Expectations Index jumped 30 points to 124.
Declining income expectations helped to push farmer sentiment down again in September as the Purdue University-CME Group Ag Economy Barometer Index fell 12 points to 88.
A five-point decline in the Index of Future Expectations to 112 was responsible for the overall sentiment decline, as the June Current Conditions Index of 90 was one point above the May index value.
The result was driven by producer concerns about current conditions and future prospects, specifically weakening crop prices coupled with high production costs and interest rates.
Nearly three-fourths of respondents said they view this as a bad time to make large investments in their farm operation while just 16% of producers this month said it’s a good time to make investments.
According to the latest Ag Economy Barometer from Purdue University, 40% of growers who said now is a bad time to make large investments were most worried about the rising prices of farm machinery and new construction.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.
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