Farmer sentiment climbed 30 points in November to 145. This improvement pushed the barometer to its highest level since May 2021, with expectations for the future also reaching their highest level since April 2021, according to the latest Purdue University/CME Group Ag Economy Barometer.
“Some of the reasons behind the improvement in farmer sentiment include expectations for a future regulatory and tax environment for the agricultural sector that is more favorable than expected prior to the November elections,” said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture.
Following the election, a majority of producers said they expect a less restrictive environmental regulatory environment for agriculture. Producers are expecting a more favorable tax regime, but also say they think a “trade war” is either likely or very likely.
The Ag Economy Barometer provides a monthly snapshot of farmer sentiment regarding the state of the agricultural economy. The survey collects responses from 400 producers whose annual market value of production is equal to or exceeds $500,000. Minimum targets by enterprise are as follows: 53% corn/soybeans, 14% wheat, 3% cotton, 19% beef cattle, 5% dairy and 6% hogs. Latest survey results, released Dec. 3, reflect ag producer outlooks as of Nov. 11-15.
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