The Purdue University/CME Ag Economy Barometer dipped slightly in September to a reading of 121, down just 3 points from August, when the index stood at 124.
Although the barometer’s decline was small, there was a relatively large sentiment shift among ag producers as they were noticeably more pessimistic about current conditions on their farms and in the U.S. ag economy , but somewhat more optimistic about future economic conditions, both compared to one month earlier.
The Index of Current Conditions declined from a reading of 122 in August to 100 in September.
This was in contrast to the Index of Future Expectations, which actually rose 6 points compared to August, with a September reading of 131.
The Ag Economy Barometer is based upon results from a nationwide telephone survey of 400 U.S. crop and livestock producers. This month’s survey was conducted from September 9-13, 2019.
Read the full report here.
