News

Producers make more, pay less in February

The USDA says producers made more and paid a little less in February than in January.

The department’s index of prices received was up 1.8% on the month, with a 4.4% jump in the crop index against a 3.7% drop for livestock. Prices moved higher for market eggs, turkeys, cotton, and oranges, and lower for soybeans, broiler chickens, milk, and lettuce, with monthly movement up for cattle, milk, broilers, and greenhouse and nursery items, but down for corn, soybeans, wheat, and tobacco.

The USDA’s dairy index for February 2020 was down 3.6% from January, but up 12.4% from February 2019. The all milk price of $18.90 per hundredweight was $.70 less than the previous month, but $2.10 more than the year before.

The index of prices paid was 0.3% lower on decreases for feeder cattle, feeder pigs, diesel, and feed supplements mostly cancelling out increases for trucks, repairs, nitrogen, and hay and forages.

Year to year, the index of prices received was 0.1% higher than in February 2019 and the index of prices paid was up 0.5%.