Farmers are coming off one of their most profitable years in history and few expect a repeat, according to the latest DTN/The Progressive Farmer Agriculture Confidence Index. DTN surveyed 500 farmers and ranchers across the country between Feb. 27 and March 9. Farmers rate their present situation at a strongly positive value of 140.2; at 108.5, their overall survey value reflects cautious optimism. (A value of 100 is considered neutral with higher values indicating optimism and lower values indicating pessimism.) On the other hand, expectations for the next 12 months were notably pessimistic at 87.4.
This outlook is in line with USDA predictions, which project that farm income will fall $6.3 billion to $91.7 billion for the upcoming crop year. Though commodity prices are still at strong levels, lower new-crop corn prices and consistent or higher input costs will likely mean a price squeeze for farmers.
DTN conducts the survey before planting, before harvest and after harvest. December's results evaluated present and future at 133.5 and 94.1, respectively. Last March, the present and future scores were 148.2 and 91.2, respectively, with an overall index of 111. PD
—From DTN/The Progressive Farmer
