News

It was a little more profitable on the farm in November

The Index of Prices Received by Farmers in November increased more than three percent from October. Higher prices for eggs, milk, lettuce and strawberries more than offset lower prices for hogs, calves, soybeans and corn.

The Crop Production Index was 2.5 percent higher. Corn averaged $3.60 per bushel down 7 cents from October.  Soybeans decreased 13 cents to average $8.68 per bushel, all wheat was a penny lower at $4.86 per bushel and the all hay price was $142 per ton down $4.  Alfalfa averaged $150 per ton down $6 from October.

The Livestock Production Index increased 1 percent. Hogs dropped $9.60 to average $45.90 per hundredweight.  Beef cattle increased a dollar to $129 per hundredweight.  These are the lowest hog and cattle prices of the year.  The November all milk price increased 50 cents to average $18.20 per hundredweight.  Eggs increased 67 cents to $1.93 per dozen, broilers were a penny higher at 42 cents per pound while turkey lost a nickel to average 92.2 cents per pound.

The Index of Prices Paid by Farmers in November was nearly one percent lower than October. Lower prices for feeder cattle, concentrates, complete feeds and feed grains more than offset higher prices for supplements and self-propelled machinery.

Compared to November of 2014, the prices received by farmers are nearly ten percent lower while the prices paid by farmers are more than five percent lower than a year ago.

Read the full NASS report here: