The latest ag economy barometer dropped this morning, showing a weakening farmers’ sentiment.
Farmer sentiment fell in June to 146, down 12 points compared to last month’s high. The decline has been attributed to producer concerns surrounding agricultural exports, with few optimistic about the future.
Despite declines, all three indices in the report remained well above year-ago levels.
Purdue University Professor of Ag Economics, Dr. Jim Mintert spoke with RFD-TV’s Suzanne Alexander about what drove the drop, how this compares to previous years, and what to expect moving forward.
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“The farm economy is, if it isn’t in a crisis, it’s well on its way to one right now.”
Dairy farmers are expected to face strong output and export gains, but lower prices and tighter margins will persist into next year.
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The USDA NASS report also confirms lower August placements.