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Prices Received by U.S. Farmers Down From Last Month
WASHINGTON - Nov 28/08 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in November, at 139%, based on 1990-92=100, decreased 12 points (7.9%) from October, reveals the current USDA sector report.
The Crop Index is down 16 points (9.5%) and the Livestock Index decreased 2 points (1.6%). Producers received lower prices for soybeans, corn, lettuce, and hogs and higher prices for tomatoes, potatoes, cucumbers, and cantaloups. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly marketings of milk, cattle, cotton, and cottonseed offset decreased marketings of soybeans, potatoes, peanuts, and lettuce.
The preliminary All Farm Products Index is down 2 points (1.4%) from November 2007. The Food Commodities Index, at 140, decreased 9 points (6.0%) from a month ago and decreased 5 points (3.4%) from November 2007.
The November Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 183% of the 1990-92 average. The index is down 4 points (2.1%) from October but 18 points (11%) above November 2007. Lower prices in November for diesel fuel, feed concentrates, complete feeds, and gasoline more than offset higher prices for feeder pigs, mixed fertilizers, herbicides, and insecticides.
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