News

A little more profitable on the farm in November

The Preliminary Index of Prices Received by Farmers in November was up 0.5 percent from October. Farmers received higher prices for corn, cattle, broilers and lettuce; lower prices for hogs, hay, soybeans and apples. The Index shows prices received by farmers are 20 percent above November of last year.

The Crop Index increased 2.5 percent from October; the average corn price in November was $6.00 up 29 cents from a month ago. The all-wheat price increased 4 cents to $7.33 per bushel. Soybeans were 20 cents lower averaging $11.50 per bushel and the all-hay price slipped $5.00 to $176 per ton.

The Livestock Index increased 1.3 percent in November. Hogs were $3.00 lower to average $67.50 per hundredweight while beef cattle increased $2.00 to $119.00 per hundred. Broilers were up 2 cents per pound to average 45 cents, turkeys were 1.1 cents higher at 78.4 cents per pound. Eggs increased a half-cent to 86.2 cents per dozen.

The November all-milk price was unchanged from October at $19.90 per hundred while the overall cost of feed to make a hundred pounds of milk 1 percent higher for the month at $11.06. So income over feed cost is $8.84 per hundred down 13 cents from October.

The Index of Prices Paid by Farmers is unchanged from October. Farmers paid more for feeder cattle, diesel, nitrogen and mixed fertilizers offset by paying less for complete feeds, concentrates and supplements. They are paying 9.6 percent more than a year ago for commodities and services.

Read the full NASS report here: