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PURDUE/CME POLL: FARMER SENTIMENT DRIFTS LOWER, RISING INTEREST RATES CONTRIBUTE TO UNEASINESS
Oct. 5, 2022
Source: Purdue University
The Purdue University-CME Group Ag Economy Barometer index drifted lower to a reading of 112 in September which was 5 points lower than a month earlier.
The decline in farmer sentiment was primarily the result of producers' weaker perception of current conditions as the Current Conditions Index declined to 109, 9 points lower than in August. The Index of Future Expectations also weakened slightly, declining 3 points from a month earlier to a reading of 113.
Compared to a year earlier, the barometer this month was 10% lower while producers' assessment of current conditions was down 22%.
These results stand in contrast with future expectations in September which was only 2% weaker than a year ago. 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 September 19-23, 2022, a week or more following USDA's September Crop Production and World Agricultural Supply and Demand Estimates (WASDE).
To read the entire report click here.
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