News

August USDA price indices up fractionally

U.S. farmer made and paid fractionally more in August than in July.

The USDA says the index of prices received was up 0.3% on the month with gains in cattle, milk, market eggs, and strawberries barely outweighing losses in corn, soybeans, broilers, and celery.

Monthly marketings were also mixed with increases for cattle, hogs, broilers, and grapes against decreases for corn, soybeans, wheat, and strawberries.

The dairy index for August was up 13% from July, but down 18% from August 2022, with an all milk price of $19.70 per hundredweight, $2.30 more than the previous month, but $4.40 less than last year.

The index of prices paid was 0.1% higher with rising costs for feeder cattle, diesel, gasoline, and potash and phosphate narrowly canceling out declines in complete feeds, feed grains, hay and forages, and nitrogen.

Year-to-year, the index of prices received was down 4.5% from August 2022, while the index of prices paid was six tenths of a percent lower.