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 Sep. 4, 2012 Source: DTN/The Progressive Farmer The recent drought has discouraged the outlook for American agriculture and agribusiness, according to the DTN/The Progressive Farmer Agriculture and Agribusiness Confidence Index. The indexes are designed to measure sentiment in the agriculture sector - both for producers and agribusinesses. The composite Agriculture Confidence Index, which accounts for how farmers feel about both their present and future situations, came in at 107. A value of 100 is considered neutral; higher numerical values indicate optimism and values lower than 100 indicate pessimism. When the composite is split into separate time frames, farmer responses created a rating of 120.4 for the present, pre-harvest mood, compared to a 98.2 rating for future expectations. Those numbers show farmers' attitudes changed over the course of the growing season. Overall optimism about the present crop year has eroded, down 20 points from last March's 140, while expectations for the future have strengthened, up to 98.2 from last March's 87.4. Agribusiness owners have taken a more decidedly pessimistic view, particularly about the prospects for next year, according to the DTN/The Progressive Farmer Agribusiness Confidence Index. The agribusiness composite index is 93.3. Business owners gave their current situation an optimistic 112.2 rating, with expectations for the future scoring 80.5. That's the most pessimistic reading since DTN/The Progressive Farmer began to track business confidence in 2010. To compile the index, DTN contacted 500 randomly selected producers as well as owners or managers of 100 agribusinesses -- including elevators, ag retailers, livestock companies, food product manufacturers, ag services, bankers, cotton buyers, seed companies -- across 26 states. They were asked about current and future profitability and overall business prospects for the next 12 months. Results Here is the complete Agriculture Confidence Index results (focusing on producers) and here is the complete Agribusiness Confidence Index results, as well as a short summary of the survey and its findings. Tweet |
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