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FARMER SENTIMENT WEAKENS IN PURDUE/CME AG ECONOMY BAROMETER
Jul. 5, 2022
Source: Purdue University
West Lafayette, IN -- Farmer sentiment remained weak in June as the Purdue University-CME Group Ag Economy Barometer fell to a reading of 97, 2 points below its May reading.
During June farmers were a bit more optimistic about current conditions as the Current Conditions Index of 99 was 5 points higher than in May. However, the small improvement in current conditions was more than offset by weaker expectations for the future, as the Index of Future Expectations declined 5 points to a reading of 96, the lowest level since October 2016.
Rising costs and uncertainty about the future continue to be a drag on farmer sentiment. This month 51% of survey respondents said they expect their farms to be worse off financially a year from now, the most negative response received to this question since data collection began in 2015.
The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers' responses to a telephone survey. This month's survey was conducted from June 13-17, 2022.
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