The Preliminary Index of Prices from USDA shows the prices received by farmers in August increased 1.1 percent from July while the prices paid by farmers increased 1.4 percent for the month.
The August Crop Index increased 1.3 percent from July. Corn increased 40 cents per bushel to average $7.54; soybeans increased 50 cents to $15.90. The average all-wheat price gained a dime to $8.03 while the all-hay price held steady at $184 per ton.
The Livestock Index gained 2 percent in August; beef cattle prices increased $1.00 to average $115 per hundredweight while hogs declined $2.90 to $69.20. Broilers were unchanged at 49 cents per pound, turkeys gained a half-cent to 73.4 cents and eggs jumped 18.8 cents to average 95.1 cents per dozen.
The preliminary all-milk price for August is $17.80 compared to $16.90 in July. That puts the milk-to-feed ratio at 1.35 just 1-100th better than the all-time low set last month. Florida producers will get the highest price of $21.60 up $1.10 from July while California producers will get the lowest $16.50 up $1.18.
On the other side of the ledger, farmers paid more for fuel, feed grains, concentrates and complete feeds in August, more than offsetting lower prices for feeder pigs, nitrogen, potash and phosphate.
Compared to a year ago, the prices received by farmers are up 4.3 percent while prices paid are 5.4 percent above August of 2011.
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