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Balanced Reporting. Trusted Insights.
Sunday, April 02, 2023
A monthly measurement of how farmers and ranchers feel about the ag economy went up slightly in January as producers say they’re feeling better about their future expectations.
Cattle producers should be in line for a profitable year in 2023, but consumers will see higher prices at the grocery store as a result of an expected drop in production.
A monthly survey of how farmers and ranchers view the rural economy was unchanged in November as producers digested the results of the midterm elections.
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.”
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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.
