Farm Equipment
www.farm-equipment.com/articles/22544-farmer-sentiment-improves-but-purchase-plans-still-on-hold
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Farmer Sentiment Improves, But Purchase Plans Still on Hold

June 16, 2024

Farmer sentiment improved in May following a sharp decline in April, according to Purdue’s Ag Economy Barometer. May’s reading of 108 was a 9 point improvement from April. Producers reported improvements in both the Current Conditions Index and Index of Future Expectations.

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Producers' plans for machinery purchases remained stable, but the majority still say their plans for equipment purchases are lower in the upcoming year compared to a year ago. The percentage of producers who said their plans were lower or higher both dropped compared to April.

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Rising interest rates continue to be the primary reason producers say it’s a bad time to make large investments at 44%, followed by the increasing price of farm machinery and new construction at 29%.

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As to reasons it is a good time to make large investments, 45% of producers who felt like it was a good time credited higher dealer inventories. Another 25% said it was due to strong cash flows.


Watch the full version of this episode of On The Record



Kim 3

Kim Schmidt

Kim Schmidt is the Executive Editor of Farm Equipment and the host of Ag Equipment Intelligence’s On The Record. An award-winning writer, she worked 7 years in business-to-business trade media before joining Lessiter Media in 2012. She is a journalism graduate of Marquette University.

Contact: kschmidt@lessitermedia.com