The University of Missouri’s Monthly Monitor surveys economists nationwide about their projections for agricultural trends.
The report is forecasting a positive outlook for farm finances even as the weather has created significant challenges in North America. July’s results showed more optimism than the previous Monthly Monitor in June. Economists seem to be more positive about the crop side of the ag economy compared to livestock. Sixty-four percent of the economists surveyed were positive about crops, and 55 percent had a negative view of livestock.
Despite the weather challenges, farmers are seeing continued productivity and efficiency gains that lead to strong balance sheets. Looking ahead, the economists say global competition and geopolitical risks could impact crop prices in the next six months. In livestock, economists worry about feed costs and how they could affect livestock prices and profitability.