Farmers are Less Optimistic about Ag Economy as Grain Prices Dive Lower

Sep 04, 2024 at 02:22 PM CST
Farmers are feeling less optimistic about the future of the ag economy, according to the latest survey from Purdue University. “More people are pointing to lower crop and livestock prices as their top concern this month. That was chosen by 30 percent of the people in the survey,” says Dr. Jim Mintert, Director of the Purdue Center for Commercial Agriculture. That was ranked as the Number Two concern overall for the 400 U.S. farmers who took part in the monthly Purdue Ag Economy Barometer survey, which was taken between Aug. 12-16, 2024. He says that higher input costs remain as the Number One overall concern for farmers. “But that really hasn’t changed over time. It was chosen by 33 percent. The relationship between ‘Lower Crop and Livestock Prices’ and ‘Higher Input Costs’ is the narrowest that gap has been since we have been collecting data,” according to Mintert. “For example, a year ago, only 20 percent of the people in the survey chose ‘Lower Crop and Livestock Prices’ as their top concern. This month, it’s up to 30 percent—almost eclipsing that higher input cost,” he says.

Sep 04, 2024 at 02:22 PM CST

Farmers are feeling less optimistic about the future of the ag economy, according to the latest survey from Purdue University.

“More people are pointing to lower crop and livestock prices as their top concern this month. That was chosen by 30 percent of the people in the survey,” says Dr. Jim Mintert, Director of the Purdue Center for Commercial Agriculture.

That was ranked as the Number Two concern overall for the 400 U.S. farmers who took part in the monthly Purdue Ag Economy Barometer survey, which was taken between Aug. 12-16, 2024.

He says that higher input costs remain as the Number One overall concern for farmers.

“But that really hasn’t changed over time. It was chosen by 33 percent. The relationship between ‘Lower Crop and Livestock Prices’ and ‘Higher Input Costs’ is the narrowest that gap has been since we have been collecting data,” according to Mintert.

“For example, a year ago, only 20 percent of the people in the survey chose ‘Lower Crop and Livestock Prices’ as their top concern. This month, it’s up to 30 percent—almost eclipsing that higher input cost,” he says.