News

A little less-profitable on the farm in November

The prices received by farmers for their products declined 2.9 percent in November. The USDA preliminary Index shows crop prices declined 3 percent from October but livestock prices increased 3.1 percent.

The November corn price averaged $6.71 per bushel, down 6 cents from October; soybeans decreased 40 cents to average $13.80 per bushel. All hay was unchanged at $193 per ton. On the livestock side, hogs increased a dime to average $62.10 per hundredweight; beef cattle were unchanged at $123 per hundredweight. Broilers were 6 cents higher at 57 cents per pound, turkeys declined 2 cents to 74.9 cents per pound while eggs increased 18.3 cents to $1.02 per dozen.

The November all milk price increased 60 cents to $22.10 per hundredweight. Florida has the highest price, $25.50 while California has the lowest, $19.40.  The November milk-to-feed ratio is 1.79 compared to 1.73 in October.

The November Index of Prices Paid by Farmers declined a half-percent from October. Producers paid lower prices for concentrates, supplements, gasoline and diesel which more than offset higher prices for feeder pigs, complete feeds, supplies and mixed fertilizer.

Compared to November of last year; prices received by farmers are ten percent higher while prices paid by farmers are up 5.3 percent.

Read the full NASS report here: