Nearly 75 percent of farmers surveyed in the latest Ag Economy Barometer say now is not a good time to make large farm investments.
Jim Mintert is the director of the Purdue University Center for Commercial Agriculture.
“That Farm Capital Investment Index is capturing the idea that producers don’t think this is a great time to make investments because it’s so expensive. When we did the follow-up question for farmers who said it’s a bad time to make investments, we asked them what their top reasons are and they’re telling us it’s the increase in prices for farm machinery and new construction that’s causing them to say that,” he says.
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