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U.S. Farm Price Index Slips
WASHINGTON - Jan 30/04 - SNS -- The U.S. index of prices received by farmers dropped 2 points during January to 111, based on 1990-92=100, says the USDA.
Weaker livestock markets in response to the loss of major export markets on account of the discovery of BSE in a single cow in Washington State was the main problem.
The livestock and products index, at 107, is down 4.5% from last month but up 11% from January 2003. Compared with a year ago, prices are higher for broilers, all cattle, dairy, eggs, calves, hogs, and turkeys.
The meat animals index dropped 9.9% to 100, but remains but up 7.5% above last year. The January hog price of $35.70 per cwt is up $1.50 from December and $2.70 from a year ago. The January beef cattle price of $77.40 is down $13.10 from last month but up $4.20 from January 2003.
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