Producers made, paid more in December
The USDA says producers made and paid more in December 2021 than November.
The index of prices received jumped 3.5% with a 9% increase in the livestock index cancelling out a 1.3% decrease for crops. Prices moved higher for cattle, broilers, market eggs, and corn, and lower for hogs, lettuce, oranges, and broccoli.
The dairy index for December 2021 was up 4.8% from November and 19% from December 2020, with an all milk price of $21.80 per hundredweight, an increase of $1 on the month and $3.50 on the year.
The index of prices paid was up 1.1%, with rises in feeder cattle, complete feed, nitrogen, and mixed fertilizer against declines for gasoline, diesel, and LP gas.
Year-to-year, the USDA’s index of prices received was 24% higher, including gains of 16% for crops and 33% for livestock, with a rebound in some sectors of the ag economy, while the index of prices paid was 9.5% higher, in-line with a general expansion for input costs.