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Cost of Farming Remains Up Over Last Year
WASHINGTON - Jun 29/05 - SNS -- The cost of operating a farm was unchanged from May in June, but remains above year earlier levels, according to the USDA.
The June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 139 (1990-92=100), unchanged from May 2005 but 3.0% above June 2004.
The June production index, at 138, is unchanged from last month but 3.8% above last year. Lower prices in June for feeder pigs, LP gas, hay and forages, and feed supplements offset higher prices for diesel fuel, feeder cattle, complete feeds, and nitrogen fertilizers.
Feed: The June index, at 117, is the same as May but 10.0% below last June. Since May, slightly lower prices for hay and forages and feed supplements offset slightly higher prices for complete feeds, feed concentrates, and feed grains.
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