Some producers expect the farm’s financial performance in 2022 to be weaker than in 2021, according to the latest Ag Economy Barometer.
Jim Mintert is the director of the Purdue University Center for Commercial Agriculture.
“The question as we turn the corner into January flips and instead of comparing 2021 to 2020, the question now says to compare 2022 to 2021,” he says. “So, that sharp decline in the Financial Performance Index that we’re picking reflects the fact that producers are telling us they expect to see income drop quite a bit in 2022 compared to 2021.”
The Farm Financial Performance Index fell to a reading of 83, a 30 percent decline compared to a year ago and 27 percent lower than in December.
