WEST LAFAYETTE, Ind. and CHICAGO, Oct. 4, 2016 /PRNewswire/ — Farmer sentiment toward the agricultural economy improved slightly in September as fall harvest kicked off, according to the latest reading of the Purdue/CME Group Ag Economy Barometer.
The barometer read 101 for the month of September, up just six points from the August reading of 95. The current reading is well below the barometer’s peak of 112 in July.
Survey respondents remained more optimistic about the future conditions in the livestock sector than crops, but most said they don’t actually expect widespread good times in either sector, said Jim Mintert, the barometer’s principal investigator and director of Purdue’s Center for Commercial Agriculture.
“Interestingly, the gap between expectations for good times in crops versus livestock has narrowed quite a bit since late 2015,” he said. “For example, in fall 2015, the percentage of respondents expecting good times in livestock over the next five years exceeded the same reading for crops by 11 percent. In the period between July and September 2016, the average gap was just 7 percent, suggesting …