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A little more profitable on the farm in August

The Preliminary Index of Prices Received by Farmers in August was unchanged from July.  Producers received higher prices for cattle, milk, apples and broccoli.  Lower prices for corn, soybeans, wheat and broilers.

The Crop Index declined 2.2 percent.  Corn averaged $3.70 per bushel down 35 cents from July.  Soybeans decreased 90 cents to average $12.20 per bushel and all-wheat was down 31 cents to $5.85.  All hay dropped $7 to $185 per ton.

The Livestock Index increased 0.8 percent.  The August beef cattle price increased $4 to $160 per hundredweight.  The August hog price averaged $88.30 per hundredweight, down $5 from July.  Broilers were 6 cents cheaper at 60 cents per pound, turkeys were a penny lower at 73 cents per pound and eggs dropped 18.8 cents to average 86 cents per dozen.

The August all milk price increased 40 cents to $23.70 per hundredweight.  The August Milk-to-Feed Ratio is 2.55 up .19 from July and .87 above a year ago.  (the milk-to-feed ratio is the pounds of 16% dairy ration equal to the value of a pound of whole milk)

The Index of Prices Paid by Farmers in August is down 0.9 percent from July.  Lower prices for feeder pigs, complete feeds, concentrates and mixed fertilizer more than offset higher prices for feeder cattle, herbicides and insecticides.

The Index of Prices Received by Farmers is up 3.8 percent from August of 2013.  Prices Paid by Farmers are 4.7 percent higher than a year ago.

Read the full NASS report here:

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