Farm Progress America, September 12, 2024

In a sharp reversal from July, the August Ag Economy Barometer shows farmer sentiment has taken a swan drive. The index of current conditions fell 17 points landing at 83.

The barometer of future expectations fell 11 points to 108.

The survey shows farmer sentiment has fallen to levels not seen since 2015/2016.

Farmers expressed concern over weaker income going into the fall harvest and the low commodity prices.

About 30 percent of the farmers cite commodity prices as a top worry, coming in behind high input costs at 33 percent.

The farm index dropped 9 percent reaching the lowest level since 2020.

Rising interest rates are not as concerning-- 17 percent reported it as a major issue which is down from 24 percent in 2023.

The Farm Financial Performance Index also took a hit dropping 9 points-- the lowest since 2020.

The Farm Capital Investment Index is down 7 points to 31-- reflecting the farmers hesitation to make any big investments.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness .