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Record Price Levels for U.S. farm Products
WASHINGTON - Jun 29/04 - SNS -- Overall prices received by farmers in the United States for their agricultural produce remained at record levels in June, with the preliminary All Farm Products Index of Prices Received by Farmers unchanged from May at 129, but up 22 points (21%) from June 2003.
In releasing its latest index calculations, the USDA noted the Livestock & Products Index remained unchanged from May while the All Crops Index decreased 1 point (0.8%).
Producers received higher prices for lettuce, broilers, sweet corn, and cattle. Lower prices were received for milk, soybeans, tomatoes, and grapes. The seasonal change in the mix of commodities farmers sell, based on the past 3-year average, also affects the overall index. Increased average marketings of wheat, grapes, hay, and cantaloup offset decreased marketings of strawberries, oranges, sweet corn, and tomatoes.
The Food Commodities Index, at 131, is unchanged from last month. The index stands 24 points (22%) above June 2003.
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