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USDA price indices mixed for October

U.S. farmers made less money in October than September, while paying fractionally more.

The USDA says the index of prices received by farmers fell 6.3% following losses in corn, soybeans, hogs, and apples, which canceled out gains in cattle, calves, milk, and dry beans.

The index of prices paid was 0.1% higher on increases for feeder cattle, wages, nitrogen, potash, and phosphate against decreases in cost for feed grains, complete feeds, concentrates, and gasoline.

Year-to-year, the index of prices received was down 11% from October 2022, while the index of prices paid was up 0.1%.