Producers pay, make more in February
The USDA says producers made and paid more in February than in January.
The index of prices received was 6.3% higher, including a jump of 11% for crops and a 1.7% rise for livestock, on increases for corn, soybeans, cattle and hogs cancelling out decreases for milk, lettuce, celery, and tomatoes.
The dairy index was down 2.3% from the previous month and was 9.5% under last year, with an all milk price of $17.10 per hundredweight, a decline of $.40 from January and $1.80 from February 2020.
The index of prices paid was up 1.2%, with higher costs for feed grains, complete feeds, feeder pigs, and supplements against lower prices for herbicides, insecticides, fungicides, and wages.
Year to year, the index of prices received was up 14% from February 2020, with crops gaining 5.6% and livestock losing 1.4%, while the index of prices paid was 3.5% higher.
The USDA’s ag prices update for March is out April 30th.