Farmers’ confidence in their operations held steady in the latest monthly survey from Purdue University. Yet while current outlooks have improved a little, the COVID-19 pandemic has caused a slight decline in expectations for the future.
The recent Ag Economy Barometer survey showed farmers feel good about their situation at the moment.
Planting conditions were better than the previous year, yields are expected to be good, and farmers have been able to apply for federal aid through the CARES Act for financial losses due to the pandemic.
However, when asked about the future, sentiment dropped. Barometer co-author Jim Mintert said the recent rise of COVID-19 cases in July could be a factor.
“I think it’s maybe given people some concerns about, maybe a little recognition, that we’re going to be facing issues with respect to COVID-19, coronavirus for an extended period of time,” said Mintert.
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More than half of the survey respondents said an additional aid package from the federal government will be needed.