We talked earlier in the week about the October Rural Mainstreet Index numbers being less than stellar. But what does that mean for the Ag industry? It all depends on who you ask. Most economists agree that things are slower and more sideways than in recent years, and you don’t need an advanced degree in economics to see that. Farmers and rural towns feel the pinch as the prices go lower.
So, how bad is it, really?
Creighton University Professor Dr. Ernie Goss says it all depends on which agriculture sector you examine. There are subtle differences in different areas of the ag economy.
How does that affect ag and non-ag-related jobs in rural America? Dr. Goss gives us his view.
Now, when you look at the October Farmer Sentiment, we saw a nice surge last month. It seems that producers were feeling confident about the future. Purdue University Economist Jim Mintert talks about what their survey found.
There are producers out there who feel like farmland values will start to rise again, even though right now we have been seeing some stagnation.
Purdue conducts that survey in partnership with the CME Group to survey approximately 400 producers every month.
So, it boils down to how you want to look at the indicators. It seems that an upturn still can happen again. However, we may have to weather a little more sideways or negative movement before that happens.
