Rabobank has released results of its 2009 Farm & Ranch Survey. A couple of highlight include:
* More farmers are using risk management tools
* 1/3 of farmers expect crop input costs to decrease
* More farmers looking to buy used equipment
Rabobank recently launched a survey to gauge farmers’ confidence, and found that, while farmers’ outlook on the economy generally mirrors that of the overall population, more than half of farmers surveyed are employing risk management strategies to help navigate this difficult economic climate.
“Our survey demonstrates that U.S. farmers and ranchers are tackling the current economic environment head on by making smart choices to help them weather the storm,” said John Ryan, president and CEO for Rabo AgriFinance. “While many are hurting because of the economy, there is some optimism that the situation will improve next year.”
According to the Rabobank Farm & Ranch Survey, more than half of U.S. farmers have recently implemented or plan on investing in risk management or marketing strategies. Among those, pre-selling crops/livestock is the most regularly used risk management approach, followed by hedging future commodity sales and lock-in margins.