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Producers are more optimistic about large on-farm investments
Farmers surveyed in the latest Ag Economy Barometer indicate they are more optimistic about making large investments in their operations.
Jim Mintert is the director of the Purdue Center for Commercial Agriculture.
“People are feeling a little bit better and I think people are a little bit more willing to investment and maybe think about things from a little longer-term perspective,” he says.
When asked about plans for farm machinery purchases, fewer farmers reported they plan to reduce purchases than in prior months.
“That percentage has dropped from 65 percent in May to 48 percent on the August survey,” he says. “The switch there was mostly people shifting form saying they’re going to reduce purchases to holding them about the same as last year.”
The Purdue University/CME Group Ag Economy Barometer is a monthly survey of 400 producers across the US.
Audio: Jim Mintert
