After a sharp decline in farmers’ attitudes about the economy, it seems September was a month of hope, according to Purdue’s Ag Barometer.
Purdue University and the CME Group track farmer sentiment and outlook on economic issues in agriculture.
In September, the barometer came in at 101, slightly higher than August’s reading of 95.
Survey respondents are more optimistic about the livestock sector than they are grains.
With the cheap feed, livestock producers are seeing improvement in their bottom line.
“Feed buyers need to pay attention,” said Bryan Doherty of Stewart-Peterson. “Corn prices are at their lowest price in a decade. When you look at the cost of production to produce a bushel of corn and you can buy it cheaper than that, I consider that a bargain. Bargains don’t last forever, so take advantage of that.”
Fewer survey respondents expect lower prices for beef cattle and milk than at any time in the last year.