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USDA’s prices received index up on month
Farmers made and paid more in May than they did in April.
The USDA says the index of prices received was up 2.1% on the month, with higher prices for broilers, cattle, and hogs cancelling out decreases in lettuce, strawberries, and cauliflower. The livestock production index jumped 7.2% but the crop index was down 5.4%.
The price paid index was 0.2% higher, with higher prices for feeder cattle, feed grains, hay, forages, and other services cancelling out lower costs for feeder pigs, concentrates, nitrogen, and supplements.
Year to year, May’s index of prices received was up 4.8% and the paid index was 0.7% higher.
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