Between November 20th and December 4th – 500 farmers and ranchers across the U.S. were surveyed for the DTN/The Progressive Farmer Agriculture Confidence Index. On the index – a value of 100 is neutral – so higher values indicate optimism and lower values indicate pessimism – according to DTN. The latest results show a post-harvest reading at 103.4 – compared to a pre-harvest reading of 99.8. Farmers are ready to move along from the 2014 crop year and hope this year will be better. Economist Robert Hill says commodity prices were in a free fall with no bottom in sight during the summer months – but those prices bounced back during late fall. Even though current prices aren’t very different from late-summer levels – Hill says they are heading in the right direction. He says that can put a smile on any farmer’s face.
As for the Agribusiness Confidence Index – that value is at 105.5 – down slightly from August. Given what growers are feeling – Hill says it’s not surprising that local agribusinesses are also down on their current situation. He says their current sales are off slightly and their profits are way down compared to the same time last year. This is evidence that farmers are pinching their pennies – Hill says – and striking lower value deals with their suppliers. For more information on the index – visit about dot DTN pf dot com (http://about.dtnpf.com).
From DTN/The Progressive Farmer