A survey indicates that farmers feel more pessimistic about their industry than ever before.
DTN Markets Editor Katie Micik tells Brownfield Ag News that low commodity prices and low income projections have pushed the DTN/Progressive Farmer Agriculture Confidence Index to a new low. She says it’s partly the result of the high cost of farming.
“They haven’t seen much relief from input prices,” said Micick. “There’s been a little bit, but there hasn’t been enough to really change the tone of agriculture producers.”
The overall index is 91.5. An index of 100 is neutral, while anything below means an increasing degree of pessimism.
The outlook among farmers is also darkening. Micik says producer expectations about the global supply and demand situation for grain resulted in an 8.5-point drop in farmer attitudes about the future since last August.
“They’re looking a year ahead and seeing more of the same,” said Micik, “and more of the same isn’t very good.”
Since 2010, DTN/The Progressive Farmer has measured farmer confidence three times a year—before planting, before harvest and after harvest.
Source: www.brownfieldagnews.com