• Tue. Apr 23rd, 2024

Farm Profitability Declines in Purdue Ag Economy Barometer

BySamantha Jones

Apr 2, 2024
Despite current cost-price squeeze, Purdue Ag Economy Barometer reflects optimism about future.

James Mintert, Director of the Center for Commercial Agriculture, recently discussed the results of the Ag Economy Barometer on a podcast. While the overall index appears to be in a holding pattern, there are intriguing trends when comparing future expectations to current conditions. The Index of Future Expectations saw a 5-point increase from February, while the Index of Current Conditions was 2 points lower than the previous month and 25 points below the same time last year.

The survey conducted by Purdue also asked farmers about their opinions on making large investments and the reasons behind their decisions. The number of farmers expressing poor prospects for farm profitability has risen from 7% last fall to 22% this month. Michael Langemeier, Associate Director of the Center for Commercial Agriculture, noted that breakeven projections are slightly lower than last year due to high input costs and locking in high breakeven prices. However, there are still concerns about potential fluctuations in fuel and labor costs.

Mintert commented on how high input costs and locking in high breakeven prices pose a significant challenge for farmers. He sees this as a major issue for many producers who struggle to maintain profitability amidst uncertain market conditions. In addition, Mintert highlighted how increased worries about cost-price squeezes and uncertainty regarding farm profitability have contributed to rising concerns among farmers about making large investments.

For more detailed information about the Ag Economy Barometer, including charts on responses to various questions, visit: . If you wish to contact Katie Dehlinger, you can reach her at [katie

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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