USDA price indices down in September
The USDA says farmers paid a little less for inputs during September, but also received less for what they produced.
The index of prices received declined 1.5% from August, with the crop index losing 2% and the livestock index 1.1% lower. Prices were down for cattle, broiler chickens, market eggs, and grapes, canceling out higher prices for milk, apples, sweet corn, and strawberries. Marketings were lower for cattle, wheat, cotton, and peaches, but up for soybeans, corn, apples, and dry beans.
The index of prices paid was 0.2% lower, with decreases for complete feeds, concentrates, herbicides, and insecticides against increases for feeder cattle, feeder pigs, LP gas, hay, and forages.
Year to year, the prices received index was down 4.6%, but the index of prices paid was up 2.3%, indicating red ink for some producers.