News

USDA index of prices received dropped in January

The USDA says producers made less in January than in December, while paying nearly steady money.

The index of prices received dropped 4.5%, with a 10.8% drop in the crop price index cancelling out a 6.4% rise for livestock. Prices were down for market eggs, cotton, lettuce, and broccoli, and up for cattle, hogs, milk, and broilers. Monthly marketings were higher for corn, soybeans, wheat, and cattle, and lower for milk, broilers, market eggs, and greenhouse and nursery products.

The dairy index for January was up 1.2% from December and 3.1% from January 2018. The all milk price of $16.60 per hundredweight was $.20 higher on the month and $.50 higher on the year.

The index of prices paid was up 0.1%, with increased prices for complete feeds, hay, forages, self-propelled machinery, and other services, against decreases for milk cows, diesel, supplements, and concentrates.

Year to year, the index of prices received was down 0.7%, including a loss of 1.7% for the crop index and a gain of 3.6% for livestock, while the index of prices paid was up 1%, reflecting the continued red ink faced by many producers.