A majority of farmers surveyed for the most recent Ag Economy Barometer thinks Congress needs to pass another bill to provide economic support as a result of the pandemic. The monthly measurement conducted by the Purdue Center for Commercial Agriculture shows two-thirds of producers think an additional funding round is needed.
The overall barometer reading in July was 118, up one point from June. However, the reading is still 30 points lower than in February, before the impact of coronavirus hit.
In July, farmers indicated they were a bit less concerned about the current economic situation on their farms than earlier this spring, but they were less optimistic about the future. Purdue ag economists say that is probably s a result of the recent resurgence in COVID-19 cases.
The Ag Economy Barometer is based on responses from 400 U.S. agricultural producers with this month’s survey conducted from July 20-24.
Purdue Center for Commercial Agriculture Director Jim Mintert provides analysis of the report in the video below.