News

USDA April price indices mixed

The USDA says farmers made more in April than in March while paying a little less.

The department’s index of prices received by farmers was up for the third month in a row, 1.9% higher, as gains in cattle, broilers, lettuce, and broccoli canceled out losses in hogs, milk, market eggs, and apples.

The USDA’s dairy index for April dropped 1.9% from March and 23% from April 2022, with an all milk price of $20.70 per hundredweight, a decline of $.40 on the month and $6.30 on the year.

The index of prices paid by farmers was 0.2% lower, with decreases in cost for feeder pigs, wages, complete feeds, and nitrogen offsetting increases in feeder cattle, hay and forages, gasoline, and LP gas.

Year to year, the index of prices received was down 2.2%, while the index of prices paid was up 1.5%, reflecting the mixed farm economy.