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Farming Costs in the U.S. Up Versus Last Year
WASHINGTON - May 31/07 - SNS -- The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 158% of the 1990-92 average, according to this USDA report.
The index is up 1 point (0.6%) from April and 9 points (6.0%) above May 2006. Higher prices in May for hay & forages, gasoline, mixed fertilizers, and nitrogen fertilizers more than offset lower prices for feed supplements, complete feeds, diesel fuel, and feeder cattle.
The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 158 (1990-92=100), is up 0.6% from April 2007 and up 6.0% from May 2006.
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