According to the latest Purdue University/CME Group Ag Economy Barometer, farmer attitudes are drifting lower. “The barometer did drift a little lower this month,” said James Mintert, director, Purdue Center for Commercial Agriculture. “People became a little less optimistic about the future. We’ve lost a lot of confidence with respect to the current situation and that reflects what’s taking place with expected net farm income.” High input costs are the top concern for the farmers surveyed. Interest rates have also been the other noticeable variable over the past five months. “The impact of the rising interest rates is starting to hit farmers. One reason is, I think, we’re starting to see an erosion of peoples’ working capital.”
