Despite the uncertainty surrounding agricultural exports due to retaliatory tariffs, U.S. farmer sentiment continued its upward trend in February, as the Purdue University Ag Economy Barometer rose 11 points from the previous month to a reading of 152. The boost was primarily driven by the stronger sentiment among producers, with the Current Conditions Index climbing 28 points to 137 — marking a significant rebound from its low of 76 in late summer and early fall 2024.
Get the clearest, most accurate view of the truckload marketplace with data from DAT iQ.
Tune into DAT iQ Live, live on YouTube or LinkedIn, 10am ET every Tuesday.
The recent upswing in sentiment reflects a combination of factors, including a sharp recovery in crop prices, expectations for disaster payments authorized by Congress and continued strength in the U.S. livestock sector. Despite the notable improvement in current conditions, farmers remain more optimistic about the future, as the Future Expectations Index continues to outpace the Current Conditions Index by 22 points. This month’s survey was conducted between Feb. 10-14.
The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy. On the first Tuesday of each month, the Ag Economy Barometer provides a sense of the agricultural economy’s health with an index value. The index is based on a survey of 400 agricultural producers on economic sentiment each month. Quarterly, the index is accompanied by an in-depth survey of 100 agriculture and agribusiness thought leaders.
Load-to-Truck Ratio
Reefer load post volumes increased by 10% last week, boosted by the 11% w/w increase in produce volumes as the Mexico produce season ramps up. Last week’s reefer load-to-truck ratio (LTR) was up 26% to 8.34.
Spot rates
Reefer linehaul rates were flat for the third week, paying carriers an average of $1.89/mile on a 6% lower volume. Reefer spot rates remain identical to last year and $0.04/mile higher than 2019.
