News

Producers make less, pay more in July

The USDA says producers made less and paid more in July than they did in June. The index of prices received was down 2% on the month with a 2% decline for the crop index and a 2.5% loss for livestock. Lower prices for cattle, hogs, broilers, and oranges canceled out higher moves in corn, milk, market eggs, and potatoes.

The dairy index for July 2020 was 102, up 13% from June and 9.7% higher than in July 2019. The all milk price was reported at $20.50 per hundredweight, an increase of $2.40 on the month and $1.80 on the year.

The index of prices paid was 0.5% percent higher following increases for feeder cattle, milk cows, herbicides, and other services against decreases for nitrogen, LP gas, potash and phosphate, and concentrates.

Year to year, the index of prices received was up 0.9%, while the index of prices paid was 0.8% lower, but the paid index remains above received, reflecting losses for some producers.