USDA price indices up in May
The USDA says producers made and paid more in May than in April.
The index of prices received was 1.8% higher on the month, with gains for corn, soybeans, broilers, and milk cancelling out losses in calves, lettuce, market eggs, and strawberries.
The dairy index for May 2021 was up 4.4% from April and 40% from May 2020. The all-milk price for the month was $19.20 per hundredweight, a gain of $.80 on the month and $5.50 on the year.
The index of prices paid was up 0.9%, with increases for feed grains, complete feeds, nitrogen, and supplements edging out decreases in feeder cattle, feeder pigs, and LP gas.
Year-to-year, the index of prices received jumped 23% and the index of prices paid was 5.7% higher.
The index of prices paid remains above the index of prices received, but the gap has narrowed when compared to a year ago.