News

Farm prices declined in November

The monthly Index of Prices Paid to Farmers in November was down 3.2 percent from October. The Crop Index fell 5.9 percent while the Livestock Index increased 3 percent. Farmers received lower prices for corn but higher prices for soybeans, cattle and eggs.

In the Crop Index; corn averaged $4.29 per bushel down 32 cents from October, soybeans increased 20 cents to $12.70, all wheat decreased 20 cents to average $6.80 while the all hay price was $6 lower at $171 per ton.

In the Livestock Index; the November hog price averaged $64.70 per hundredweight down $3.80 from October. Cattle increased $3 to $131 per hundredweight. Broilers increased 2 cents to 55 cents per pound, turkeys were 0.2 cents higher at 70.3 cents and eggs jumped 32.4 cents to average $1.16 per dozen.

The dairy price index increased 3.2 percent with the all milk price at $21.30 per hundredweight up 60 cents from October. Given the lower feed costs, the November milk-to-feed ratio is 2.25 compared to 2.11 in October and 1.74 in November, 2012.

Meanwhile the Index of Prices Paid by Farmers in November declined 0.9 percent from October with lower prices for concentrates, complete feeds, feed grains and other services more than offsetting higher prices for feeder cattle, feeder pigs, mixed fertilizer and LP gas.

For the year, the prices farmers receive are down 12 percent compared to November of 2012 while the prices paid by farmers are 1.8 percent lower.

Read the full NASS report here: