Agribusiness Confidence Index Rises
Monday, February 27th, 2012
The tint to agribusiness owners' glasses is getting rosier, with the overall DTN/The Progressive Farmer Agribusiness Confidence Index gaining 10.9 points since November to reach 111.1. The index of respondents' feelings of the current situation dipped 3 points while expectations for the next 12 months took the biggest jump in the index's history -- up to 108.5 from 88.4 in November.
"It's a major jump in the index compared to last fall, but only takes it back to where it was pre-plant last year," said Robert Hill, owner of Caledonia Solutions, which designed the survey. In February 2011, the Agribusiness Confidence Index value was 113.2, with expectations for the upcoming year at 115.8.
The index polled between Jan. 30 and Feb. 3 the owners of 100 agribusinesses across the spectrum -- grain handlers, input suppliers, services providers, etc. -- about their assessment of current sales, profitability and overall prospects as well as their expectations for the next 12 months in each category. A value of 100 is considered neutral. Indexes over 100 are seen as positive while indexes below 100 are viewed as negative.
Read More: DTN The Progressive Farmer