Photo courtesy of Purdue University
From staff reports
The Purdue University/CME Group Ag Economy Barometer cites supply chain disruptions and a dramatic increase in inputs, such as fertilizer, that led to a big decline in how farmers are feeling about the United States’ agriculture economy.
The reading, now at 119, fell 13 points from last month’s reading and is the second-lowest reading since July 2020. Farmers that participated in the monthly survey are also reporting larger operating loans in 2022 than in 2021 and 2019. The larger operating loans are being attributed to farmers not being able to purchase or find fertilizer, insecticides, herbicides and parts for tractors, implements and other machinery.
The Ag Economy Barometer consists of data and information from 400 farmers that engage in a telephone survey. The most recent survey was conducted between Jan. 17-21. A full analysis is available at https://purdue.ag/barometervideo.