USDA Survey to Gauge Financial Health of Indiana Farmers

By Andi Anderson

The U.S. Department of Agriculture (USDA) will soon launch a comprehensive survey to assess the financial well-being of Indiana farmers. This initiative, known as the Agricultural Resource Management Survey (ARMS), will be a collaborative effort between the National Agricultural Statistics Service (NASS) and USDA's Economic Research Service.

Beginning in January 2024, NASS will contact over 1,600 farmers across Indiana as part of a nationwide survey that will reach over 40,000 producers. The survey aims to gather in-depth information about farm operations, including:

• Operating revenues: This includes income generated from crop and livestock sales, government programs, and other sources.
• Production costs: This covers expenses related to feed, fertilizer, labor, machinery, and other operational needs.
• Household characteristics: This gathers information about the demographics and income of farm families. Additionally, the survey in Indiana will include a specialized section focused on soybean producers, delving into their specific costs and returns.

The collected data will be crucial for informing key policy decisions at both the national and state levels. It will also contribute to calculating the farm sector's contribution to the Gross Domestic Product (GDP). Moreover, the detailed information gathered on production practices, costs, and returns for various commodities will provide valuable insights for the agricultural industry.

NASS is committed to protecting the confidentiality of all participants. The collected data will be aggregated and published in a way that ensures no individual farmer or operation can be identified. The results of the survey will be released in several reports throughout 2024, offering valuable resources for farmers, policymakers, and researchers.

This comprehensive survey presents an opportunity for Indiana farmers to contribute to shaping the future of agriculture. By participating, they can provide essential data that will inform critical decisions and ultimately benefit the agricultural sector as a whole.

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