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U.S. Farm Incomes Squeezed
WASHINGTON - Oct 29/04 - SNS -- Farm incomes in the United States continue to be squeezed as the cost of inputs continues to rise, while prices received from the sale of agricultural commodities declines, according to the latest USDA data.
The October Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 134% of the 1990-92 average.
The index is unchanged from September but 5 points (3.9%) above October 2003. Lower prices in October for feed grains, complete feeds, and feed concentrates are offset by higher prices for diesel fuel, feeder cattle, gasoline, and feeder pigs.
The October All Farm Products Index is 111% of its 1990-92 base, down 3.5% from the September index and 1.8% below the October 2003 index.
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