News

Farm prices a little more profitable in October

The preliminary Index of Prices Received by Farmers in October increased 3.4 percent from September. National Ag Statistics Service says crop prices increased 1.5 percent while livestock prices were 0.7 percent higher for the month. Farmers received higher prices for oilseeds, cattle, calves, hogs, milk, turkeys and eggs. Prices were lower for broilers, feed grains, food grains, hay and commercial vegetables.

In the Crop Index, the October corn price averaged $5.92 per bushel, down 45 cents from September, the average soybean price was $11.90 down 30 cents and the all-wheat price averaged $6.94 per bushel, down 61 cents from September. All-hay was up $5.00 per ton to average $181.

In the Livestock Index, the average hog price in October was $68.80 per hundredweight up $1.70 from September. Beef cattle were $4.00 higher at $116 per hundredweight. The October all-milk price declined $1.20 to $19.90 per hundredweight. Broilers were down a penny to 43 cents per pound while turkeys were 4.1 cents higher at 77.2 cents per pound. Eggs increased 8.8 cents from September to average 85.7 cents per dozen.

The Index of Prices Paid by Farmers was unchanged from September. Higher prices for feeder cattle, complete feeds, concentrates and supplements were offset by lower prices for feed grains, gasoline, diesel and LP gas.

Compared to October of 2010, the prices received and the prices paid are each up 11 percent.