U.S. farmer sentiment dropped three points in October, according to the latest Ag Economy Barometer. The modest decline is attributed to a three-month slide for the index, primarily due to farmers’ declining perceptions for the current and future conditions in production agriculture. Farmers aren’t as optimistic about their farm’s financial situation as they anticipate a rise in input prices of at least eight percent or more in the next year. A rise in fertilizer prices is a key factor, but rising input costs also extend to seed, pesticides, machinery repairs or other ownership costs.
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