Ag Economy Barometer: Input costs remain a concern for farmers
Farmers are concerned about rising production costs, according to the latest Ag Economy Barometer.
Purdue University’s Jim Mintert says “higher input cost was by far and away the top choice. Forty-seven percent, almost half the people in the survey, said that was their top concern.”
He tells Brownfield some farmers expect input prices to rise in 2022.
“Four out of ten respondents said they expect input prices in 2022 to rise by more than 30 percent compared to 2021,” he says.
Fifty-seven percent of producers said they expect farm input prices to rise by more than 20 percent.
Farmers surveyed were also asked about concerns regarding lower crop and/or livestock prices, environmental policy, farm policy, climate policy, and COVID’s impact.
The Purdue University/CME Group Ag Economy Barometer is a monthly national survey of 400 agricultural producers.
Audio: Jim Mintert