Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
    
   
   
   
   

Agricultural News


Farmer Sentiment Regarding Current Conditions Slips in September

Wed, 02 Oct 2019 12:02:22 CDT

Farmer Sentiment Regarding Current Conditions Slips in September
   

Farmers became much more pessimistic about current conditions on their own farms and in the U.S. agricultural economy in late summer, according to the September Purdue University/CME Group Ag Economy Barometer. While the overall Ag Economy Barometer reading dipped slightly to a reading of 121, down three points from August; the Index of Current Conditions, a sub-index of the barometer, dropped 22 points to a reading of 100. The barometer is based on a mid-month survey of 400 agricultural producers across the U.S.

Farmers' outlook toward making large investments such as machinery or buildings also declined in September. The Farm Capital Investment Index dropped for the second month in a row, down nine points from August, which left it 20 points below the July 2019 reading taken when corn and soybean prices were peaking. Producers' farmland value expectations for both the next 12 months and 5 years also drifted lower in September.

Despite the weak near-term outlook provided by farmers, they expressed some optimism about the future as the Index of Future Expectations, another sub-index of the Ag Economy Barometer, rose 6 points compared to August. "Even though farmers are concerned about the near-term, both on their own farms and for the ag economy, improved crop growing conditions during the last half of the summer appeared to boost optimism regarding the future," said James Mintert, the barometer's principal investigator and director of Purdue University's Center for Commercial Agriculture.

In the September survey, only one in five producers said they expect profitability to decline over the next year, compared to 41 percent that expected a profitability decline when the same question was posed back in May. "Considered jointly with this month's decline in the Index of Current Conditions," said Mintert, "this could be a signal that growers expect better times in 2020 compared to 2019, possibly because they are looking forward to a return to more normal growing conditions and crop production in 2020."

Read the full September Ag Economy Barometer report at https://purdue.ag/agbarometer. This month's report includes insights into producers' perspectives towards a favorable outcome to the trade dispute and their cropland rental arrangements. The site also offers additional resources – such as past reports, charts and survey methodology – and a form to sign up for monthly barometer email updates and webinars. Each month, Purdue Center for Commercial Agricultural Director James Mintert provides a short video analysis of the barometer results, available at https://purdue.ag/barometervideo.

The Ag Economy Barometer, Index of Current Conditions and Index of Future Expectations are available on the Bloomberg Terminal under the following ticker symbols: AGECBARO, AGECCURC and AGECFTEX.

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Wheat Production Lowered In Latest USDA World Agricultural Supply And Demand Estimates Report  Fri, 10 Jul 2020 16:40:08 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, July 10  Fri, 10 Jul 2020 15:30:49 CDT
  • Friday, July 10, 2020 Market Wrap-Up with Justin Lewis  Fri, 10 Jul 2020 14:18:05 CDT
  • Leadership Transition Announced for National Institute of Food and Agriculture  Fri, 10 Jul 2020 09:47:33 CDT
  • A Little BBQ Journey--Evie Mae's in Lubbock, Texas   Fri, 10 Jul 2020 09:43:03 CDT
  • National Wheat Foundation Yield Contest Deadline August 1  Fri, 10 Jul 2020 09:16:42 CDT
  • ‘Right This Very Minute’ Receives Children’s Literature Award  Fri, 10 Jul 2020 09:12:49 CDT
  • Improving Efficiency Key To Sustainable Beef Production Says Dr. Clay Mathis, Director of King Ranch Institute For Ranch Management  Fri, 10 Jul 2020 08:53:03 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.