After starting 2017 with high hopes, it appears as though farmers’ attitudes are slipping, according to the Purdue University/CME Group Ag Economy Barometer.
For the second straight month, the economic index slipped to 124. The index still remains higher than levels dating back to Oct. 2015.
Purdue researchers say the barometer could signify the growing realization that regulatory and tax changes, if they are to take place, could take a long time to implement.
“Producer sentiment has been waning in the last several months as the budget realities and a difficult time in 2017 are beginning to come into focus,” David Widmar, ag barometer senior researcher at Purdue University. “There’s a little bit of a slide in optimism, more of a turn to pessimism thinking about the next 12 months.”
Despite the slip this month, Purdue says optimism toward the U.S. economy in the years ahead remains strong.
When asked to look at the overall U.S. economy this month, 77 percent of respondents said they expect widespread good times over the next five years. When they were asked the same question before the election, only 35 percent