At the beginning of 2017, the Purdue University/CME Group Ag Barometer reached its highest level ever since data collection began in October 2015. The barometer has fluctuated throughout the year, and the latest reading shows farmer sentiment is diminishing.
The November reading showed a reading of 128, the second-lowest reading of 2017. This is a 7-point decrease from the October reading of 135.
Analysts think this slide is driven by producers taking a less optimistic view of the future and a decline in confidence.
One of the questions asked was if the next 12 months in ag will be good times or bad times. According to the latest survey, 62 percent of respondents expect the next year to be bad times in terms of finances. This number has increased 12 points since July.
The barometer is based on a monthly survey of 400 agriculture producers from the U.S.
