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Farmer sentiment declines, but farmers remain optimistic about the future

A survey of 400 farmers and ranchers from across the country shows rising concern about the current state of the ag economy.

Ag economist Jim Mintert says the Purdue University/CME Group Ag Economy Barometer has declined in recent months.

“When we asked producers about what their expectations are going forward over a longer time period, 45% of them indicated that they expect to see bad times in the next 5 years,” he says. “Producers still think things are better than a year ago, at least in terms of their overall sentiment.”

He says producers remain optimistic President Trump’s tariff policy will benefit U.S. agriculture. 

“Although in the short run, what’s taking place with respect to tariff policy could be disruptive, in fact has been somewhat disruptive in respect to ag trade,” he says. “The folks that we’ve interviewed here have pretty much decided that they’re willing to give it a chance and see how it plays out.”

Mintert says he continues to monitor how recent trade frameworks could impact farmer sentiment. He says the latest survey was taken in the first week of July.

AUDIO: Jim Mintert, Purdue’s Center for Commercial Agriculture