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U.S. On-Farm Prices Up Versus Last Year
WASHINGTON - Nov 30/07 - SNS -- November Farm Prices Received Index Increased 2 Points From Last Month
The preliminary All Farm Products Index of Prices Received by Farmers in November, at 143%, based on 1990-92=100, increased 2 points (1.4%) from October, judging from the latest USDA sector report.
The Crop Index is up 2 points (1.4%) and the Livestock Index increased 3 points (2.3%). Producers received higher commodity prices for soybeans, eggs, corn, and broilers and lower prices were received for lettuce, hogs, cattle, and broccoli. 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 milk, cattle, cotton, and cottonseed offset decreased marketings of soybeans, peanuts, potatoes, and lettuce.
The preliminary All Farm Products Index is up 24 points (20%) from November 2006. The Food Commodities Index, at 147, increased 2 points (1.4%) from last month and increased 27 points (23%) from November 2006.
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