Farmer sentiment declined by six points in June, according to the most recent Purdue University-CME Ag Economy Barometer. It matches the overall level of sentiment from January, at 113 points.
High input costs are the "main thing limiting improvement" in their financial situation, 41.5% of the farmers surveyed said, slightly down from last month. About 17% of respondents said low output costs are their top concern, and 14% are most worried about weather. This month's survey did not ask about the impact of the war in Iran on net farm income in 2026.
The survey found large disparities in sentiment between crop and livestock producers: A quarter of the respondents expected good times for crop producers, while 68% expected good times for livestock producers. Only 32% of respondents overall expected good times, which is 17% lower than the June 2025 survey.
The index of current conditions is the lowest it has been since December 2024. Only 12% of farmers surveyed said their farm was better off this year compared to last, and only 22% expect their farm to improve financially next year.
Asked whether the country is headed in the wrong direction or is on the right path, the percentages were essentially unchanged from May. Fifty-three percent of respondents said the U.S. is on the right path, up 1 percentage point from May, while 47% said it's on the wrong one, down 1 percentage point.
Forty-three percent of farmers surveyed expect agricultural exports to increase in the next five years, while a slim minority of 9% expect exports to decrease. 85% either agreed or strongly agreed with the statement that free trade is beneficial for agriculture and most other American industries.
The survey was conducted among 400 farmers from June 15 through June 19.
