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October USDA indices mixed

 

The USDA says producers paid a little more but made less in October than in September.

The index of prices received was down 5.2% on the month, with a 0.7% loss in the livestock index and an 8.2% drop in crops as lower prices for broiler chickens, market eggs, apples, and potatoes canceled out increases in cattle, hay, sweet corn, and lettuce. Even with the month to month losses, both indices were above year ago levels, by 3.8% for crops and 14% for livestock, so while many producers are losing money because of higher inputs, it’s to less of a degree than last year. The overall index of prices received for October 2017 was 87.3, 8.3% more than October 2016. Marketings during October were up for corn, soybeans, calves and cotton, down for wheat, cattle, broiler chickens, and milk.

The USDA’s dairy index for October was up 0.6% from September and 7.2% above October 2017, because of an increase in the all milk price. The all milk price for October was $17.90 per hundredweight, an increase of $.10 on the month and $1.20 on the year.

The index of prices paid was up 0.7% on the month and 4.6% on the year at 107.6 on higher prices for feeder cattle, feeder pigs, wages, and hay and forages against lower prices for feed grains, milk cows, gasoline, and other services.

 

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