Producers pay, earn a little more in September
The USDA says producers paid and made fractionally more in September than in August.
The department’s index of prices received gained 0.9% as higher prices for corn, soybeans, hogs, and lettuces canceled out lower moves in milk, hay, broilers, and potatoes. That index of prices paid includes month to month rises of 1.3% for the crop index and 0.2% for the livestock index. Monthly marketings were higher for corn, soybeans, dry beans, and apples, lower for cattle, wheat, cotton, and strawberries.
The dairy index for September saw declines of almost 5% from August and more than 7% from September 2019, with the all milk price at $17.90 per hundredweight, down $.90 on the month and $1.40 on the year.
The index of prices paid gained 0.4% with on increases in feeder cattle, feed grains, complete feeds, and supplements against decreases for feeder cattle, hay and forages, LP gas, and other services.
Year to year, the index of prices received was up 1.1%, with a jump of 5.9% for crops offsetting a loss of 3.7% for livestock, and the index of prices paid was down 0.6%.
The index of prices paid remains above prices received, indicating many farmers continue to face losses on production.