An ag economist says most farmers surveyed in the latest Purdue University/CME Group Ag Economy Barometer still think it’s a bad time to make large investments on the farm.
Jim Mintert with Purdue’s Center for Commercial Agriculture says the Farm Capital Investment Index fell to 35 in January, down 8 points from December and 58 points below its all-time high in January 2021.“They continue to point to two things,” he says. “One is the increased prices for farm machinery and new construction that’s taken place over the years, and the second one is rising interest rates.”
However, he says fewer producers say they are holding back because of interest rate concerns.
