News

Profitability improved on the farm in October

The Preliminary Index of Prices Received by Farmers in October increased 8.8 percent from September. The Crop Index increased 6.7 percent for the month while the Livestock Index increased 3.9 percent.

The average corn price was $6.95 per bushel, up 6 cents from September, soybeans decreased a dime to $14.20 per bushel and all-hay was $6.00 higher at $193 per ton.

The average beef price in October was $121 per hundredweight, unchanged from September while hogs were $5.00 higher at $60.70 per hundredweight. The October all-milk price increased $1.50 to $21.10 per hundred pounds. Broilers were a penny-per-pound higher at 50 cents; turkeys increased 0.3 cents to 76.5 cents per pound. Eggs dropped 22.3 cents to 83.7 cents per dozen.

The Index of Prices Paid by Farmers increased 0.9 percent from September. Farmers paid more for complete feeds, concentrates, feeder cattle and nitrogen. Less for feeder cattle, mixed fertilizer, supplements, gasoline and diesel.

Compared to a year ago, prices received by farmers are 14 percent higher while prices paid by farmers are 7.3 percent higher.

Read the full NASS report here: