Farmers made, paid less in April
Farmers made and paid less in May than in April.
The USDA says the index of prices received by producers declined 2.8% as lower prices for milk, market eggs, strawberries, and lettuce canceled out higher prices for cattle, broilers, celery, and oranges.
The dairy index for May fell 6.8% from April and 29% from May 2022, with an all milk price of $19.30 per hundredweight, a drop of $1.40 on the month and $7.90 on the year.
The index of prices paid was down 0.6% on declines in feeder pigs, complete feeds, nitrogen, and LP gas against gains in cost for feeder cattle, supplies, repairs, and other machinery.
Year-to-year, the index of prices received was down 5.6%, while the index of prices paid was up 0.9%.
The USDA’s next round of projected farm prices is out July 12th.