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Different Data Means Different Stories For Confidence Amongst Farmers

By Brock Turner

Posted October 15, 2018

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This Purdue University study paints a significantly different picture. (Courtesy: Purdue University)

Farmers have historically been optimistic, but a Purdue University study says that feeling might be starting to quell. 

According to Purdue University’s Ag Economy Barometer, one in three farmers believe their farms will be worse off in one year from now than are currently.  That’s nearly a 10 percent increase from last month’s survey. 

Purdue Agricultural Economics department Director Jim Mintert says overall optimism is down and some number are the lowest he’s seen.

"We got the lowest reading, since we started collecting data in October 2015," he says. "[In] respect to the advisability of making large investments in their farming operations."

However, the study from Purdue tells a different story than a recent poll from The Progressive Farmer.  The trade publication says farmer confidence is at an all-time high. 

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The Progressive Farmer study shows confidence at an all time high, but Purdue's data tells a different story. (Courtsey: The Progressive Farmer)

 

The timing of the two surveys could explain the different conclusions.  Greg Horstmeier is the Editor-in-Chief at the Progressive Farmer, and says the Progressive Farmer survey was taken just after the United States Department of Agriculture announced per bushel payouts to farmers impacted by tariffs.

Those bailouts, while helpful, are unable to cover all losses many farmers will endure.

The index says confidence this fall is 30 points higher than the spring index and 10% higher than any other reading ever recorded.

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