ource: Purdue University news release
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The Ag Economy Barometer drifted sideways in December, to a reading of 150 compared to 153 in November. Although the barometer changed little in December, there was a shift in producers’ perspective regarding both their farms’ and the production ag sector’s economic health.
Producers expressed less confidence than a month earlier about current economic conditions as the Index of Current Conditions registered a reading of 141, a decline of 12 points compared to November’s index value of 153.
|Figure 1. Purdue/CME Group Ag Economy Barometer, October 2015-December 2019.|
In contrast, producers’ expectations for the future remained strong as the Index of Future Expectations rose slightly, to a reading of 155 compared to 153 a month earlier. This month’s Ag Economy Barometer survey was conducted from December 9-13, 2019 and is based on responses from a nationwide survey of 400 agricultural producers.
|Figure 2. Indices of Current Conditions and Future Expectations, October 2015-December 2019.|