USDA: producers make, pay more in November

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USDA: producers make, pay more in November

The USDA says producers made and paid more in November than in October.

The index of prices received was 4.1% higher, with gains in corn, soybeans, broilers, and milk cancelling out losses in hogs, market eggs, turkeys, and oranges. The crop index was 3.9% more than the month before and the livestock index was 4.0% above October. Marketings were up for corn, cattle, cotton, and milk, down for soybeans, wheat, lettuce, and grapes.

The all milk price for November was $21.30 per hundredweight, up $1.10 from October and $.20 from November 2019. The dairy index gained 5.5% on the month and 1% on the year.

The index of prices paid was up 0.7% percent as increases in costs for feeder cattle, complete feeds, concentrates and other services canceled out decreases in tractors, other machinery, gasoline, and nitrogen.

Year to year, the index of prices received was up 2.2%, with a 7.1% jump for grains offsetting a 3.0% drop in livestock, and the index of prices paid was 1.2% higher.

The index of prices received remains below the index of prices paid, reflecting the losses being experienced by some producers.