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USDA price indices both up 0.9% in June

The USDA says producers made and paid more in June than in May.

The index of prices received was up 0.9% on the month thanks to higher prices for cattle, hogs, corn, and lettuce, which canceled out lower moves in soybeans, milk, strawberries, and oranges.

The dairy index was down 4.2% from the month before, but up 1.1% on the year, with an all milk price of $18.40 per hundredweight, $.80 less than the previous month, but $.20 more than last year.

The index of prices paid was also up 0.9% with increases for feeder cattle, nitrogen, LP gas, and repairs cancelling out decreases in costs for feeder pigs, wage rates, concentrates, and supplements.

Year to year, the index of prices received was 22% above June 2020 because of general rises in demand and tighter supplies for some commodities, while the index of prices received was up 6.8% on the year.

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