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Balanced Reporting. Trusted Insights.
Monday, May 23, 2022
A measure of the state of mind in farm country is at its lowest point since July 2020 as producers report less optimism about their current and future circumstances and signal concerns about the impact of inflation on their operations.
Farmers' financial earnings are expected to increase this year, but fewer government payments and increased production costs will likely offset higher cash receipts, USDA's Economic Research Service said Thursday in its Farm Sector Income forecast.
Producers in the central United States are being buoyed by a recent uptick in commodity prices and a swell of government payments, the Federal Reserve Bank of Kansas City noted in a quarterly report Thursday, but some bankers are still worried.
After a major decline in August, the Ag Economy Barometer declined again in September as producers “were noticeably more pessimistic about current conditions on their farms and in the U.S. economy.”
Almond shipments hit record * Ag regions see high job growth * Mountain lions as endangered species * Produce growers adapt to online * “Trump insurance” bill still undecided on water
Ag producers are more optimistic than last month about the future of the ag economy after a crop price rally, Market Facilitation Program announcement and disaster aid bill boosted producer sentiment in June.
