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Aug. 26, 2010 Source: Agri Marketing magazine and American Business Media (ABM) Agri Council A poll conducted among corporate agribusiness executives last week showed the majority think the current ag economy is positive and are expecting an even better environment over the next 12 months. On a scale of 0 (lowest) to 100 (highest), the overall Agri-Marketers' Confidence Index (ACI) scored an 82, which compares to 81 when the poll was conducted last March. The quarterly poll was conducted by Agri Marketing magazine and the ABM's Agri Council. The poll was sent to 319 executives of companies that develop and sell products to North American crop and livestock producers. A total of 106 company representatives participated in the poll, including a very wide sampling of large and small enterprises, as well as both crop and livestock-oriented companies. "The ACI is modeled closely along the lines of the well-known consumer confidence studies regularly reported by The Conference Board," explains Steve Custer, Chair of the ABM Agri Council's Research Committee and Executive Vice President of Farm Journal Media. "It is an indicator designed to measure the confidence or the degree of optimism among agribusiness marketers on the state of the agribusiness economy. It looks at both their outlook for their own business now and in the future, as well as their perception of the outlook for their customers - the nation's farmers and ranchers." ACI is calculated by looking at the percentage of positive versus negative responses. To read more details on how the is ACI is calculated and its complete results, click here A few of the highlights include: *60% of the marketers rated the current business conditions for their company as positive. That is nearly five times the number rating it as negative. *57% believe the business conditions 12 months from now will be better. *29% expect to increase their marketing communications budget one year from now with another 61% expecting it will remain the same. "The current ag economy is strong, both in the crop and livestock sectors," says Lynn Henderson, Publisher of Agri Marketing. "Even though some parts of the U.S. had weather problems, the USDA is forecasting record crops. Livestock prices are extremely strong and herds are beginning to be rebuilt following some very tough years. "One noted ag economist just issued a report that 2010 net farm income is expected to top $61 billion and may exceed the record set in 2008." Henderson continues, "Long-term, companies are expecting demand for ag products to continue to grow as the general world economy heals. That is being reflected in farmland values that are continuing to increase. "It is interesting to note that back in March when we first conducted the poll, over half reported they thought the ag economy would improve. It turns out they were correct, so the poll may be a good predictor of future conditions." About Agri Marketing Agri Marketing magazine is the ag industry trade magazine whose audience includes corporate agribusiness managers, their ad/PR agencies, ag trade associations, the ag media and others involved providing products and services to North American ag producers. About ABM The ABM Agri Council is the trade association for ag-related media companies. Members include Agri Marketing, Farm Journal Media, Farm Progress Companies, High Plains Journal, Lee Publications, Meister Media Worldwide, Penton Media, Sosland Publishing, Televent/DTN, Vance Publishing, W.D. Hoard & Sons and WATT. Tweet |
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