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Average Prices Received by U.S. Farmers Down On The Year
WASHINGTON - May 29/09 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in May, at 131%, based on 1990-92=100, increased 2 points (1.6%) from April, shows the latest USDA sector report.
The Crop Index is up 2 points (1.3%) but the Livestock Index was unchanged. Producers received higher prices for broilers, soybeans, corn, and onions and lower prices for eggs, lettuce, tomatoes, and milk. 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 sweet corn, broilers, grapes, and cantaloups offset decreased marketings of cattle, milk, corn, and apples.
The preliminary All Farm Products Index is down 21 points (14%) from May 2008. The Food Commodities Index, at 128, increased 1 point (0.8%) from a month ago but decreased 20 points (14%) from May 2008.
The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 176% of the 1990-92 average. 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.
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