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The Cost of Farming in The U.S. Down From Last Year
WASHINGTON - May 29/09 - SNS -- The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 176% of the 1990-92 average, shows the latest USDA sector report.
The index is down 1 point (0.6%) from April and 8 points (4.3%) below May 2008. Lower prices in May for potash & phosphate, feeder pigs, mixed fertilizer, and complete feeds more than offset higher prices for nitrogen, feed grains, gasoline, and LP gas.
The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 176 (1990-92=100), is down 0.6% from April 2009 and 4.3% from May 2008.
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