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USDA price indices fall in September
Farmers made and paid less in September than August.
The USDA says the index of prices received fell 5.6% with losses in cattle, hogs, market eggs, and lettuce against gains in corn, broilers, turkeys, and milk.
The index of prices paid was down 0.2% with decreased costs for feeder cattle, hay and forages, diesel and LP gas barely canceling out increases in feed grains, feeder pigs, potash and phosphate, and other services.
The dairy index for September 2024 was 8.1% higher than August and up 22% from September 2023, with an all milk price of $25.50 per hundredweight, a rise of $1.90 on the month and $4.60 on the year.
For the year to date, the index of prices received is 0.9% lower and the index of prices paid is 1.6% lower, reflecting the ongoing red ink for many farmers, even if input costs have moderated.
The USDA’s next round of monthly price projections is out November 8th.
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