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Farm income, costs up in May

Farmers made and paid more in May than in April.

The USDA’s index of prices received for May rose 1.7% on gains in cattle, hogs, milk, and oranges against losses in broilers, market eggs, lettuce, and strawberries.

The dairy index for May 2025 was 1.4% more than April, but 3.2% less than May 2024, with an all milk price of $21.30, up $.30 on the month, but down $.70 on the year.

The index of prices paid was up 0.4% as increased costs for feeder cattle, hay and forages, nitrogen, and other services just canceled out decreases for feeder pigs, self-propelled machinery, LP gas, and complete feeds.

Compared to a year ago, the index of prices received was 13% higher on a surge in livestock prices, while the index of prices paid was up 6.4%.

The index ratio has narrowed, but prices paid remain above prices received, indicating losses for some farmers.