Brewers Like Florida Hops and Ag Economy Barometer Plummets

Brewers Like Florida Hops and Ag Economy Barometer Plummets

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with the Agribusiness Update.

**Brewers like the flavor and aroma that come from Florida-grown Cascade hops, saying it tastes a little like candy.

University of Florida Extension agent, Matt Smith tells yes, his sample size is small, only seven brewers so far, but he’s excited by what he’s hearing from those craft brewers.

Of those he’s polled, most said they would brew craft beer made from Florida-grown Cascade hops if given a chance.

**The Purdue University-CME Group Ag Economy Barometer plummeted in May to a reading of just 99, the weakest since April 2020.

The May barometer marked just the ninth time, since data collection began in 2015, that the overall measure of farmer sentiment fell below 100.

The Index of Current Conditions fell 26 points to a reading of 94, while the Index of Future Expectations declined 21 points to 101 in May.

**The stronger land prices of late 2021 continued higher through the first half of 2022.

After a calm and steady start of the year, prices jumped up thanks to the outbreak of war in Ukraine and ongoing inflation fears.

Farmers saw higher commodity prices, and investors wanted a low-risk inflation hedging investment, which together propelled the competition for good cropland.

Prices for good quality cropland are up 20% in some areas since the first of the year.

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