Crop producers responded with much less optimism than their livestock counterparts, reflecting the profitability disparity between the two enterprises. Crop prices that stand below the cost of production for many farms help explain why more farmers expect weaker incomes for the coming year. Livestock producers had a notably more optimistic outlook in August than crop producers, which helped push the index higher. This was up from January, when 18% of respondents said they expected their 2025 loan size to increase compared to 2024. The responses to these questions suggest that farmers' financial stress increased from January to August.