The Purdue University-CME Group Ag Economy Barometer recorded a slight improvement last month, compared to the August reading. Organizers of the survey say the Ag Economy Barometer was at 101 in September. While the reading was moderately above the August value of 95, the barometer’s current reading remains well below its peak of 112 in July. The Barometer surveys 400 agricultural producers monthly. A rating below 100 is negative, while a rating above 100 indicates positive sentiment regarding the agriculture industry. Organizers say the data shows producers are pessimistic about current conditions in agriculture but continue to express some optimism regarding future economic prospects. The report says over the next year, farmers are a bit more optimistic about the future direction of prices for livestock and livestock products, especially beef cattle and milk, than at any time in the last year.
From the National Association of Farm Broadcasting news service.