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U-S Farmers Confidence Lowest In 5 Years

U-S crop and livestock producers confidence is the lowest it's been since DTN/The Progressive Farmer started tracking it in 2010.

American producers overall confidence fell to 92 point 7 from 99 point 4 in August and 103 point 4 a year ago.

100 is considered neutral.

Below is pessimistic, above optimistic.

Concerns over their current situation and expectations about the future were also lower than in the August survey.

DTN Markets Editor Katie Micik says it's the first time that each of those measurements has been in the pessimistic range at the same time.

She reports that for just the second time in the index's history, both crop and livestock producers have a pessimistic confidence score.

Falling crop prices and concerns over input costs appear to be the major factors.

Crop producers are lower - at 91 - while livestock producers came in at 96 point 4.

The DTN/Progressive Farmer survey also rated the confidence of the U-S agribusiness sector.

Micik reports their overall confidence is also pessimistic - at 98 point 3.

That's down from last December, but up from the August survey rating.

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