WEST LAFAYETTE, Ind. — Farmers and ranchers appear to be slightly more optimistic about the agricultural economy, according to the latest results from the August Purdue University/CME Group Ag Economy Barometer.
The Barometer measures both the sentiment regarding the current economy, as well as the expectation of the economy down the road.
For both sub-indices, producers are more optimistic than in the previous month.
Also in the August survey, producers had a more positive view of their financial situation than earlier in the summer based on the expectation of profitability throughout the rest of 2021.
One area of concern, however, is in the realm of potential farm input price inflation.
During the August survey, more than one-third of respondents said they expect input prices to climb by 8 percent or more during the next 12 months.
One in five producers expects farm input price inflation to exceed 12 percent over the next year while 13 percent suspect input price pressure will fall.
(SOURCE: All Ag News)