The recent Ag Confidence Index compiled by DTN reached the lowest score recorded since the poll began. Known as the ACI, the August results from farmer surveys produced the lowest score, of 72 in the seven-year history of the index.
One year ago, the ACI was a more neutral 98. The data reflects a 27 percent drop in confidence from last year. A poll organizer says the results indicate that “bad has become the new normal” for many farmers.
The DTN Agriculture Confidence Index is based on surveys from 500 farmers who are asked a series of questions regarding their financial and business conditions. The survey is conducted before planting, before harvest and just before the end of the year.
Results above a rating of 100 indicate optimism, while results below 100 indicate pessimism in confidence.
(From the National Association of Farm Broadcasters News Service)