News

USDA prices received index up 3.1%, prices paid steady

Farmers made more in December than November, while paying steady money.

The USDA says the index of priced received was up 3.1% on the month, driven by gains in cattle, soybeans, eggs, and celery, which helped cancel out losses in hogs, milk, lettuce, and cauliflower.

Monthly marketings were up for milk, eggs, broilers, and lettuce, down for corn, soybeans, calves, and grapes.

The USDA’s dairy index for December 2022 was 3.5% lower than November, but 14% higher than December 2021, with an all milk price of $24.70 per hundredweight, a loss of $.90 on the month, but a gain of $3.00 on the year.

The index of prices paid had no change with higher costs for feeder cattle, feeder pigs, herbicides, and other services against lower charges for complete feeds, diesel, LP gas, and gasoline.

Year-to-year, the USDA’s index of prices received was up 22% and the index of prices paid was 9.6% higher, both reflecting inflation and some improvements in the ag economy.