Producers More Optimistic in October Survey

Dan General

The latest Purdue/CME Group Ag Economy Barometer showed farmer optimism improving slightly in October, coming in at an index of 135. That’s actually the third-highest level since the survey began two years ago. The modest improvement during October came about because of increasing optimism for what lies ahead. The Index of Future Expectations increased from 130 to 137 in October. …

credit farm lending

Report: Farm Lending Stabilizing

Dan Economy, Industry News Release

The Kansas City Federal Reserve Bank reports farm lending has stabilized, but risks remain. The Federal Reserve’s Agricultural Finance Databook shows risks in the sector have remained alongside a persistently weak agricultural economy. The volume of non-real estate farm loans originated in the third quarter this year increased about two percent from the previous year. The slight increase followed a …

rural mainstreet

Rural Mainstreet Index Lower

Dan Economy, Industry News Release

The Rural Mainstreet Index fell to its lowest level of the year last month as farmland prices declined and agriculture equipment sales were dismal. The index, compiled by Nebraska’s Creighton University, surveys bank CEO’s in ten Midwestern states. Overall, the index, which ranges between 0 and 100, slumped to 39.6, its lowest level since December 2016, and down from 42.2 …

farm income

USDA Forecasts Increase in Farm Income

Dan Economy, Industry News Release

The Department of Agriculture Wednesday predicted a slight increase in farm income for 2017, reversing three years of major decline. The August update of the farm income forecast predicts net cash farm income for 2017 at $100.4 billion, up $11.2 billion, or 12.6 percent, from 2016. Net farm income, a broader measure of profits, is forecasted at $63.4 billion, up …

funding

Low Education Rural Counties Worse Off than Higher Education Rural Counties

Dan Education, Industry News Release

New data announced by the Department of Agriculture shows that rural counties with low education levels have worse economic outcomes than other rural counties. USDA’s Economic Research Service classifies 467 counties as “low education” counties, where at least 20 percent of working-age adults, ages 25 to 64, do not have a high school diploma or equivalent. Nearly 80 percent of …

Farmers Indicate Higher Outlook on Farm Economy

Dan Economy, Industry News Release

Farmers surveyed as part of the Purdue/CME Group Ag Economy Barometer indicated more optimism in July because of better commodity prices expectations this fall. The monthly survey for July reached 139, its highest level since January 2017, and its second-highest level since data collection began in October 2015. The increase continues a trend seen over the summer of more optimism …

producers

Optimism Returning to the Ag Producers Barometer

Dan Industry News Release

The Purdue/CME Group’s June survey shows producers are a little more optimistic about their financial position than they were last year. The shift is why the June index reading of 131 was unchanged from the May survey. The index has held steady for three straight months and remains well above the low levels of last November. The shift in producer …

farm bureau

Perdue: U.S. Ag in Dire Straits

Dan Economy, Industry News Release, Trade

Sonny Perdue made his first appearance before the House Agriculture Committee this week as Secretary of Agriculture. He says the current U.S. agricultural economy is in “ dire straits ” but that could be helped by a stronger trade presence abroad. Perdue says he sees challenges ahead as President Trump’s initial budget cuts the USDA allocation by 21 percent. “We’ve …

rural mainstreet

Secretary Perdue to Attend House Ag Committee Hearing on Rural Economy

Dan Economy, Industry News Release

Agriculture Secretary Sonny Perdue will take part in a House Agriculture Committee hearing next week on the rural economy. The House Agriculture Committee will hold the hearing next Wednesday, May 17th. The hearing seeks testimony on how the rural and farm economy is holding up amid a downturn in farm income and commodity prices. House Agriculture Committee Chairman Mike Conaway …