The December Purdue/CME Group Ag Economy Barometer suggests farmers are optimistic about the future, despite a weakened perception of current conditions. The survey dropped three points in December to a reading of 150. The Index of Current Conditions dropped 12 points to 141, down from 153 in November. Meanwhile, the Index of Future Expectations remained strong, up two points to a reading of 155.
In the December survey, producers were asked whether their farm’s 2019 financial performance was better, as expected, or worse than their initial budget projections. Just over-half, 52%, stated that their initial projections matched their farm’s financial performance. Meanwhile, 30% stated it was worse, and 19% stated it was better than expected.
The barometer is based on a mid-month survey of 400 U.S. crop and livestock producers. A reading over 100 suggests optimism, while a reading under 100 indicates pessimism amongst farmers regarding the ag economy.
If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail [email protected]