News

August prices received weak, prices paid hold

The USDA says producers made less in August than July, while paying steady money.

The index of prices received was down 2.2% on the month, with a 3.6% increase in the crop index canceled out by a 6.4% decrease for livestock, with higher prices for hogs, soybeans, broiler chickens, and grapes and lower prices for milk, wheat, lettuce, and lemons. Marketings were up for cattle, broilers, tobacco, and grapes and down for corn, soybeans, wheat, and lemons.

The index of prices paid was unchanged, with lower prices for feed grains, feeder pigs, complete feeds, and nitrogen against higher prices for feeder cattle, repairs, supplies, and LP gas.

Year to year, the index of prices received was down 4.9%, crops were up 1.2%, but livestock was down 9.3%, while the index of prices paid was 2.8% higher, leaving a lot of producers in the red.