Farmer Sentiment Declined In April

Farmer sentiment weakened in April as the Purdue University-CME Group Ag Economy Barometer declined from 127 in March down to 121 last month.

The survey found the Current Conditions Index dropped 11 points, while the Future Expectations Index also slipped.  High input costs remain the top concern for 46% of farmers, with worries about input availability rising as well.

Only 15% of respondents said their operations were better off than a year ago, while more producers expect financial conditions to worsen in the next 12 months than improve.  The Farm Capital Investment Index also fell to its lowest level since October 2024, signaling reduced willingness to invest.

And when asked if the country is on the right track or not, 43% of respondents said the U.S. is moving in the wrong direction.

The decline in sentiment regarding current conditions was larger than the corresponding decline in sentiment related to future expectations.  The percentage of producers who expected good times in the next five years was 37% in April, which is 19% lower than the April 2025 survey report. There continues to be a large disparity in expectations between crop and livestock producers. Approximately 31% of respondents expected good times for crop producers, while 69% expected good times for livestock producers.

Survey authors added the findings highlight ongoing financial pressure for farmers and ranchers as they navigate high costs and uncertain market conditions.

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