U.S. On-Farm Prices Up On The Year

WASHINGTON - Oct 31/07 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in October, at 142%, based on 1990-92=100, increased 1 point (0.7%) from September, reveals this USDA statistics.

The Crop Index is up 7 points (4.9%) but the Livestock Index decreased 7 points (5.0%). Producers received higher commodity prices for lettuce, wheat, soybeans, and tomatoes and lower prices were received for broilers, hogs, cattle, and eggs. 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 soybeans, corn, cotton, and grain sorghum offset decreased marketings of milk, wheat, grapes, and broilers.

The preliminary All Farm Products Index is up 27 points (23%) from October 2006. The Food Commodities Index, at 145, increased 1 point (0.7%) from a month ago and increased 29 points (25%) from October 2006.

The October Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 159% of the 1990-92 average. The index is unchanged from September but 11 points (7.4%) above October 2006. Higher prices in October for diesel fuel, LP gas, feed supplements, and complete feeds offset lower prices for nitrogen fertilizers, feeder cattle, feeder pigs, and herbicides.

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