The Purdue University-CME Group Ag Economy Barometer index declined 5 points to 112 from September which was 5 points lower than a month earlier. Weaker sentiment regarding current conditions was the primary driver of this month’s decline in the barometer — Current Conditions Index declined to 109, 9 points lower than in August.
Inflation hit a 40-year high in June, slowing slightly in July 0f 2022. Simply put, people are getting poorer. But, it’s not just low to-middle class America that’s hurting; it’s the upper class and rural America too.
According to Walmart’s quarterly earnings report, sales grew more than 8 percent, attributing this growth to more high-income shoppers. Over 75 percent of the gains came from customers whose households earn more than $100,000 per year. But, what about rural residents and the American farmer?
The Purdue University/CME Group Ag Economy Barometer fell another two points in June, to a reading of 97. Farmer’s sentiments for the future remain low.