Weakening Crop and Livestock Prices and High Production Costs Weigh on Farmer Sentiment
Farmer sentiment weakened in September as the Ag Economy Barometer fell 9 points from its August reading. The dip in farmer sentiment was attributable to producers’ concerns about both the current situation and the future as both the Current Conditions and Future Expectations indices declined. Worries about the risk of declining prices for crops and livestock along with ongoing concerns about high input costs and interest rates weighed on producer sentiment this month. Despite the weak sentiment reading, producers remain relatively optimistic about farmland values as expressed by both the short and long-term farmland values indices.