U.S. farmer expectations in the new year are at an all-time low according to DTN-The Progressive Farmer Confidence Index.
According to the latest survey, producers’ confidence fell to 92.7 from 99.4 in August and 103.4 a year ago.
Concerns over the current financial situation and the outlook for the future have lowered the U.S. farm confidence index.
The value of 100 is considered neutral, with those above indicating optimism and below signify pessimism.
DTN markets editor Katie Micik says the survey is an indication that U.S. farmers are facding some hard economic realities.
the survey covered 500 crop and livestock producers during November.
Livestock producers were more optimistic than grain growers.