Every month, the ag researchers at Purdue University survey a sample of 400 farmers and ranchers across the country to compile the Ag Economic Barometer.
A little like the ‘consumer sentiment’ survey issued by the federal govt. each month, the ag economic barometer gives us a feel about farmers view of the ag economy. Dr. Jim Mintert, ag economist at Purdue, says sentiment dipped sharply in August, but picked up in September.
So what happened in September to make farmers feel a little better about the ag economy?
Just like consumer sentiment impacts the nation’s economy by predicting consumer’s willingness to spend money, the Ag Barometer influences how much farmers willing to spend on equipment, and other expenditures to improve or expand their operations.