The results of the Canadian Farmer Sentiment Index for October 2023 are in, which means, for the first time, we can compare year-over-year trends and changes in farmer sentiment on several topics.
Over six hundred farmers weighed in on the survey to share their thoughts on current and future financial performance of the farm, their confidence in marketing crops and livestock, and the state of their mental health.
To dive in to the data and track trends, co-founders of RealAgristudies Shaun Haney and Justin Funk sit down in the video below to tease out interesting insights, key figures, and interesting changes from September 2022 to current day.
Some key takeaways:
- Larger and younger farmers feel more confident in making investments in the farm right now
- The sentiment on current and future farm financial performance are converging
- Farmers continue to be negative on the next five years, clearly stating that they think there will be widespread bad times
The roller coaster of the farmers’ outlook on the markets is very evident, says Haney, as we have seen the sentiment on the current farm financial status slide in every survey since January. Farmers are definitely feeling less confident in the financial health of the farm, year-over-year.
Do you want to be a part of the Canadian Farmer Sentiment Index survey? Sign up to be part of the RealAgristudies Insights Panel here.