The monthly Agricultural Prices Report from the National Ag Statistics Service on Tuesday says the prices farmers received for their products in August increased 2.1 percent from July. The Crop Index was 3.3 percent higher and the Livestock Index was 0.8 percent higher. Producers received higher prices for corn, wheat, milk and cattle, lower prices for broilers, lettuce, onions and cantaloupes. Compared to a year ago, the prices received by farmers are 15 percent higher.
In the Crop Index, the August all-wheat price was $5.56 per bushel, up $1.06 from July. Corn averaged $3.65 per bushel, up 16 cents while soybeans increased 31 cents to average $10.10 per bushel and sorghum grain also gained 31 cents to average $6.28 per cwt. The all-hay price was down $1.00 at $111 per ton.
In the Livestock Index, the average hog price in August was $61.30 per cwt up $2.80 from July while beef cattle were $1.60 higher at $93.20 per cwt. Broilers were 3 cents lower at 48 cents per pound while the August turkey price was up 1.6 cents to average 66.3 cents per pound. Eggs were 9.6 cents higher than July at 62.4 cents per dozen.
Dairy prices were up 3.3 percent from July and 37 percent higher than August of last year. The August all milk price is $16.60, up 60 cents from last month and $4.50 more than a year ago. The fluid price is 60 cents higher than July at $16.60 while the manufacturing grade price is $1.00 higher at $15.10. Dairy profitability improved for the fourth month in a row, the cost of feed to produce 100 pounds of milk comes in at $7.03 putting income over feed cost at $9.57…47 cents better than in July.
The Index of Prices Paid by Farmers increased 0.5 percent from July; lower prices for feeder pigs, feeder cattle, nitrogen, hay and forages were offset by higher prices for feed grains, concentrates, diesel and LP gas. Prices paid by farmers are 2.8 percent more than August, 2009.
Read the full NASS report here:
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