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USDA ag price indices up in November
Farmers made and paid more in November than October.
The USDA says the index of prices received jumped 6.8% on the month thanks to gains in market eggs, grapes, lettuce, and broccoli, which canceled out losses for soybeans, milk, hay, and onions.
The dairy index for November 2024 was down 4% from October, but up 12% from November 2023, with an all milk price of $24.20 per hundredweight, $1 below the prior month, but $2.60 above last year.
The index of prices paid ticked a 0.5% higher on increased costs for feeder cattle, feeder pigs, supplements, and nitrogen against decreases in diesel, complete feed, hay and forages, and concentrates.
From November 2023 to November 2024, the index of prices received was 5.4% higher, while the index of prices paid was 0.4% lower.
The USDA’s next round of commodity specific price projections is out January 10th.
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