Prices Received by U.S. Farmers Up On The Month

WASHINGTON - Jul 31/07 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in July, at 142%, based on 1990-92=100, increased 3 points (2.2%) from June, judging from the current USDA update.

The Crop Index is up 2 points (1.4%) and the Livestock Index increased 3 points (2.2%). Producers received higher commodity prices for milk, eggs, wheat, and snap beans. Lower prices were received for corn, broilers, hogs, and cantaloups. The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased average marketings of grapes, wheat, hay, and tomatoes offset decreased marketings of milk, cantaloups, and potatoes.

The preliminary All Farm Products Index is up 25 points (21%) from July 2006. The Food Commodities Index, at 144, increased 4 points (2.9%) from a month ago and increased 25 points (21%) from July 2006.

The July Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 158% of the 1990-92 average. The index is unchanged from June but 9 points (6.0%) above July 2006. Lower prices in July for feed grains, feeder pigs, LP gas, and gasoline offset higher prices for feeder cattle, complete feeds, milk cows, and nitrogen fertilizers.

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