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Balanced Reporting. Trusted Insights.
Tuesday, May 24, 2022
Farmers and ranchers are increasingly worried about supplies of key inputs for the upcoming growing season, lowering a measure of producer sentiment to the lowest point since the early days of the COVID-19 pandemic.
Farmers' outlook improved modestly last month ahead of the Russian invasion of Ukraine, but growers remain worried about soaring input costs, according to a monthly survey.
Producers offered an optimistic opinion for their current economic expectations while painting a more cautious picture of their future standing in a monthly report out Tuesday.
The Department of Agriculture is projecting a farm income boost for 2021, but growers are looking ahead to 2022 and worried about the role rising input costs will play in their bottom lines.
A monthly measurement of the state of mind in farm country dropped for the second month in a row in October as farmers signaled concerns about the possibility of sharp increases to the prices of key inputs.
