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USDA price indices down on month
The USDA’s indices of prices received and paid were down from April to May.
The index of prices received was 1.1% lower, with declines for both the crop index and the livestock index, 0.8% and 1.2%, respectively as decreases for cattle, market eggs, lettuce, and strawberries canceled out increases for hogs, corn, broilers, and broccoli. Monthly marketings were up for cattle, hay, broilers, and sweet corn, and down for soybeans, hogs, calves, and apples.
The USDA’s dairy index for May was up 4.9% from April and 6.4% from May 2018. The all milk price of $18 per hundredweight was an increase of $.30 on the month and $1.80 on the year.
The index of prices paid was down 0.4%, with producers paying less for feeder cattle, feeder pigs, complete feeds, and LP gas, and more for feed grains, nitrogen, hay and forages, and other services.
Year to year, the index of prices received was 3.1% lower, including drop of 5.7% on crops and a rise of 0.5% for livestock, but the index of prices paid was 1.6% higher, indicating more losses for many producers.
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