Looking ahead: farmers don't feel now is a great time to make large purchases

A new year often brings out the resolutions, plans, and ambitions for the year ahead.

Every two months, the RealAgristudies Insights Panel will weigh in on the Canadian Farmer Sentiment index. Beginning in September 2022, the index measures how farmers are feeling — either positive or negative — on a range of issues, including crop marketing, government direction, and overarching economic conditions.

In November, the sentiment index re-asked several questions from the initial survey. One of these questions included how farmers are feeling about making investments, such as buying equipment or putting up infrastructure. The overall sentiment scored a negative index of 54 (100 is neutral).

A combination of a poor economic outlook, increasing interest rates and tight farm finances, and flagging confidence in governments combines to create a decidedly negative outlook for the year ahead, at least when it comes to purchases.

Looking for more? Register to read more about the findings from the November index results, or watch/listen to Shaun Haney and Justin Funk discuss the results.

Want to be a member of the Insights Panel and share in the survey? Find more here.