New Farmer Survey Shows Financial Concern

Here with a new research study that shows farmers are concerned about the downturn in corn and grain commodities and they are actively taken steps to help their bottomlines. J.L. Farmakis,Inc. President Bill Farmakis says his media group is always interested in what farmers are thinking
Farmakis: “We hired Millennium Research out of Minneapolis to conduct this study in late February to early March. We’re looking at about 200 producers mostly from the Mid-West with an average of 1,900 acres.”
Farmakis conteinus with some highlights of the study
Farmakis: “We ask questions even about ag and sports and elections. It really came back to the topics of what they are going to be doing this spring. What really jumped out at us is the trepidation or precarious financial position a lot of them feel that they are in. And we’re seeing over half of them are seeking off-farm employment as they head into the spring. The other areas that we saw was a real reduction in inputs — especially with the prices of corn and soybeans — with 74 percent of them switching to generics or changing brands in the crop protection side. And really 37 percent of the producers not looking to purchase any equipment in 2016.”
They will be conducting these surveys twice a year to get an idea of what is on farmers’ minds.