October saw a modest rise in U.S. farmer sentiment as the Purdue University/CME Group Ag Economy Barometer Index of 129 was three points higher than September’s reading.
The slight rise in the barometer was fueled primarily by an increase in the Index of Current Conditions to 130, which was eight points above September’s level.
Meanwhile, the Index of Future Expectations rose a single point to 129.
Farmers’ appraisal of current conditions on their farms continues to be fueled by record-high profitability in the beef sector.
At the same time, poor profit margins across all major crop enterprises lead crop producers to provide a more pessimistic view of the current situation on U.S. farms.
The Farm Financial Performance Index fell 10 points from September to 78.
Despite weakening financial expectations, the Farm Capital Investment Index rose nine points during the month to 62, thanks to the more optimistic outlook from livestock producers.
