Despite current cost-price squeeze, Purdue Ag Economy Barometer reflects optimism about future.

James Mintert, Director of the Center for Commercial Agriculture, discussed the recent results of the Ag Economy Barometer in a podcast. According to Mintert, while the overall index appears to be in a holding pattern, there are intriguing trends when comparing future expectations with current conditions. The Index of Future Expectations saw a 5-point rise from February, while the Index of Current Conditions was 2 points lower than the previous month and 25 points below the same time last year.

Mintert noted that farmers’ concerns include high input costs, low crop prices, and higher interest rates. Associate Director of the Center for Commercial Agriculture Michael Langemeier stated that breakeven projections have decreased slightly from last year due to many inputs already purchased. However, there are still concerns about potential fluctuations in fuel and labor costs. Mintert highlighted high input costs and locking in high breakeven prices as major issues for farmers.

Furthermore, Purdue’s survey found that more farmers expressed poor prospects for farm profitability this month compared to last fall – an increase from 7% to 22%. Mintert sees this as a sign of increased worries about cost-price squeezes and uncertainty regarding farm profitability.

For more detailed information on the Ag Economy Barometer and charts illustrating responses to various questions, visit: https://ag.purdue.edu/. Katie Dehlinger at katie.dehlinger@dtn.com or @KatieD_DTN can be reached for further information or commentary on these topics.

By Sophia Gonzalez

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