Drought sours outlook for farmers, agribusinesses

The drought has dampened the business outlook for farmers and agribusinesses.

Dan Grant

Published: Sep 6, 2012

The drought has dampened the business outlook for farmers and agribusinesses.

The Agriculture Confidence Index, released last week by DTN/The Progressive Farmer, showed a significant decline in attitudes expressed by the 500 randomly selected farmers and owners or managers of 100 agribusinesses.

Overall, optimism about the present crop year since March eroded by 20 points (from 140 to 120) by farmers. A value of 100 is considered neutral, higher values indicate optimism, and lower values indicate pessimism.
Future expectations by farmers were a pessimistic 98.2.

Agribusiness owners were much more pessimistic about the future. Their outlook for the future scored just 80.5, which is the most pessimistic reading since DTN/The Progressive Farmer started tracking business confidence in 2010.

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