News

Producers make less, pay more in July

The USDA says producers made slightly less and paid more a little bit more in July than they did in June.

The index of prices received fell 0.5%, with fractional decreases for both the crop and livestock indices, as lower prices for milk, hogs, broilers, and grapes canceled out higher prices for corn, cattle, market eggs, and lettuce.

The dairy index for July was down 2.6% from June and 13% from July 2020, with an all milk price of $17.90 per hundredweight, a decrease of $.50 on the month and $2.70 on the year.

The index of prices paid was up 0.8%, with gains in feeder cattle, hay and forages, nitrogen, and mixed fertilizer against declines in feeder pigs, complete feeds, and concentrates.

Year to year, the index of prices received was up 23%, including a 21% rise in the crop index and a 27% jump for livestock, while the index of prices paid was 7% higher.