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May ag prices up two percent

U.S. farmers made and paid a little more in May than they did in April. The USDA says that the prices received index for ag products was up slightly on the month, with a five percent increase in the crop index and a fractional bump in livestock.

Compared to the year before, prices received were down 12 percent, the crop production index rose almost half of a percent and the livestock index dropped 20 percent. Higher prices were seen for hogs, broilers, dry beans and lettuce.  Lower prices were reported for cattle, milk, strawberries and market eggs.

The prices paid index was fractionally higher on the month, but down almost four percent on the year. Producers paid more for feed concentrates, complete feeds and LP gas, and less for feeder cattle, feeder pigs, and hay and forages.