The Purdue University/CME Group Ag Economy Barometer, described by its originators as a “nationwide measure of the health of the U.S. agricultural economy,” dipped to a reading of 113 in March, down 12 points from February and 36% lower than March 2021, marking the weakest farmer sentiment reading since May 2020, the early days of the pandemic.
“Concern about the war’s impact on input prices and input availability on their farming operations was paramount in the minds of producers responding to the March survey and was a major factor in this month’s decline in sentiment,” said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture. The survey of 400 crop producers and 100 ag “thought-leaders” was conducted this past March.
“When producers think about how their farm will fare financially in 2022, it’s clear they do not expect commodity price strength to offset the dramatic rise in farm production costs they are experiencing,” said Mintert.
“It’s time for growers to fight back,” said Mitch Eviston, Founder and CEO of Meristem Crop Performance, in response to the survey results. “We are bringing alternatives to farmers that will help them make the most of every dollar they DO spend. There’s never been a better time for a new action plan,” he added, then shared a quick “to-do” list:
- “Treat your residue with EXCAVATOR™ and release up to 40% more nutrients in time for early-season growth,” he said.
- “Move away from blanket all-field fertilizer applications to more strip-till and in-furrow starters,” Eviston continued. “Field research with REVLINE HOPPER THROTTLE™ and the talc/graphite carrier system for biologicals is demonstrating a 6 to 8 bushel per acre yield bump.”
- “And consider new biologicals that make the most of every pound you put down – and at a fraction of the cost,” he adds. “Our REVLINE ADVANCED™ contains REVLINE™ plant growth regulators and our NUTRIFUEL™ with eight different microbes that boost plant health and nutrient availability.”