In the May survey, only 13% of respondents said this is a good time to make large investments in their operation, while 78% said they viewed it as a bad time to invest in things like machinery and buildings.
The Farm Capital Investment Index drifted to an all-time low in May and is down 30 points from this same time last year. Over the course of the last 13 months, the Farm Financial Performance Index has fallen 41% below its life of survey high of 138 set in April 2021. The Farm Financial Performance Index declined 14 points to a reading of 81 in May. The percentage of producers who expect their farm's financial performance to worsen in 2022 compared to last year rose from 29% in April to 38% in May. "That combination is leaving producers very concerned about their farms' financial performance." "Despite strong commodity prices, this month's weakness in producers' sentiment appears to be driven by the rapid rise in production costs and uncertainty about where input prices are headed," said James Mintert, the barometer's principal investigator and director of Purdue University's Center for Commercial Agriculture. This month's survey was conducted between May 16-20. agricultural producers' responses to a telephone survey. The Ag Economy Barometer is calculated each month from 400 U.S. The Index of Current Conditions dipped 26 points to a reading of 94 and the Index of Future Expectations fell 21 points to a reading of 101. Agricultural producers' perceptions regarding current conditions on their farms, as well as their future expectations, both weakened this month.
and CHICAGO, J/PRNewswire/ - The Purdue University/CME Group Ag Economy Barometer dropped to its lowest level since April 2020, down 22 points in May to a reading of 99.
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