Episode 231: Measuring Optimism in Agriculture: May 2024 Ag Economy Barometer Report

Impact Farming

In this week’s episode, Tracy speaks to Michael Langemeier from Purdue University about “Measuring Optimism in Agriculture: May 2024 Ag Economy Barometer Report.” In this episode, Tracy and Michael speak about:

• What is the Ag Economy Barometer?
• In this interview, Michael shares the survey results from over 400 producers who were asked a series of questions. Purdue University and CME then compile the results to create the Ag Economy Barometer.
• The May 2024 results are in. Michael reviews the survey results and covers the following areas:
• Indexes of Current Conditions and Future Expectations
• Farm Financial Performance Index
• Farm Capital Investment Index
• The primary reason that now is a bad time to make large investments.
• Short-term farmland value expectations
• Long-term farmland value expectations
• We discuss energy topics, including carbon markets, solar panels, and ethanol plans. Are producers excited about these opportunities?
• For USA producers…what is the likelihood of Congress passing a farm bill?
• Michael wraps up the interview and shares his final thoughts on the levels of optimism in agriculture right now.

Are you curious how other producers are feeling about the current state of agriculture? How optimistic are farmers about the future of farming? You will need to tune into today’s episode to learn more.

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About the Ag Economy Barometer: The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy. On the first Tuesday of each month, the Ag Economy Barometer provides a sense of the agricultural economy’s health with an index value. The index is based on a survey of 400 agricultural producers on economic sentiment each month. Quarterly, the index is accompanied by an in-depth survey of 100 agriculture and agribusiness thought leaders.

Ag Economy Barometer:https://ag.purdue.edu/commercialag/ageconomybarometer/

Purdue Commercial Ag Learning Centre: https://ag.purdue.edu/commercialag/home/team/michael-langemeier/

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