CME Group barometer shows farmer sentiment slips as input cost worries hit record 52%
CME•CME Group’s September Purdue/CME Ag Economy Barometer fell to 123 from 135, as 52% of respondents cited higher input costs, a record. The Farm Financial Performance Index dropped to 90 from 103, while the Long-Term Farmland Value Expectations Index rose to a record 168.
1. Sentiment weakens
The September Purdue/CME Ag Economy Barometer fell to 123 from 135. Higher input costs led concerns for 52% of respondents, and the Index of Current Conditions slid 18 points.
2. Financial outlook dims
The Farm Financial Performance Index dropped to 90 from 103, signaling weaker near-term income expectations. The Index of Future Expectations fell 9 points; 35% expected their finances to worsen in 12 months, compared with 22% who expected improvement.
3. Land outlook strengthens
The Long-Term Farmland Value Expectations Index rose to a record 168, despite concerns about input costs.
