Another month of lower prices received by producers
The USDA’s index of prices received by producers was down 3.5% from September to October, the fourth month in a row with a decrease. The last increase was in June, when prices were up 0.1%.
Month to month, the USDA’s livestock index was up 3.4%, but the crop index dropped 9.1%, with lower prices for soybeans, apples, grapes, and lemons more than cancelling out higher moves in cattle, hogs, milk, and lettuce. The USDA says marketings were higher for corn, soybeans, calves, and cotton, lower for cattle, milk, broilers, and greenhouse & nursery.
The index of prices paid was up 0.5% as increases for feeder cattle, feeder pigs, wages, and nitrogen canceled out decreases in milk cows, complete feeds, LP gas, and other services.
Year to year, the index of prices received is 3.1% lower, including losses of 3.1% on crops and 3.2% on livestock, while the index of prices paid is 2.4% higher, reflecting the losses some U.S. producers are experiencing this year.