MINNEAPOLIS--(BUSINESS WIRE)--Farmers across the United States are far less confident about their business and current situation than they have been in more than five years, according to the DTN/The Progressive Farmer Agriculture Confidence Index™. That pessimistic outlook, however, is not changing farmers’ support for or intent to re-elect President Donald J. Trump.
While farmers’ confidence is waning in their current and future situations, it is not lessening their support for the current administration. When asked, 90% of farmers polled by DTN said they would vote to keep the current administration, an increase of 15 percentage points from the same survey conducted in December 2019.
“It’s interesting to note that through these challenging times, farmer support for President Trump is at an all-time high,” said John Teeple, senior vice president of agriculture at DTN. “We are seeing that farmers approve of how the current administration is handling the pandemic and its resulting effect on the economy with the recently announced aid packages being distributed to farmers.”
According to the Index, farmer confidence is 67, which is down 97 points since December and is 43 points below the March 2019 survey. All levels fall below the 100 baseline, which indicates a pessimistic outlook. Agribusinesses also are trending more pessimistic, with a current confidence level of 85, which is 15 points below their confidence level in January.
“In the ten years we have been surveying farmers, we routinely see optimistic results in our spring-time survey. With confidence levels taking this significant of a drop in just three months, it is safe to say that farmers are anticipating a difficult year, and perhaps a difficult number of years ahead,” said Greg Horstmeier, editor-in-chief at DTN. “Even if their optimism continues to wane, we don’t anticipate seeing a shift in their support for the current administration. We expect farmers, in general, to support the current president in the upcoming November election.”
About the DTN/The Progressive Farmer Agriculture Confidence Index
Since 2010, DTN has surveyed farmers three times a year to determine their opinions about their current economic situation and about that situation in the year to come. Those answers create a score for farmers' "current condition," how they feel about their businesses at the time of the survey; and a score for their "future expectations" for the coming year. Those two scores are combined to create the DTN/The Progressive Farmer Agriculture Confidence Index. Index levels above 100 are considered optimistic, those below 100 are viewed as a pessimistic attitude.
DTN delivers accurate, objective, real-time, and actionable insights to increase customers’ confidence and support business decisions. In a data-rich world, these actionable insights in weather and financial analytics make sense of the information, drive change in processes and help businesses prosper. DTN empowers agriculture, energy and transportation customers – those who work endlessly to feed, fuel and protect our world. We believe that when our customers are supported with the most reliable and innovative information to the Nth Degree, they prosper and we all win. DTN publishes Progressive Farmer magazine, the premier publication in agriculture, and is headquartered in Minneapolis, Minnesota.