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Average Prices Received by U.S. Farmers Up On The Month
WASHINGTON - Aug 31/10 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in August, at 145%, based on 1990-1992=100, increased 3 points (2.1%) from July, reveals this USDA data.
The Crop Index is up 5 points (3.3%) and the Livestock Index increased 1 point (0.8%). Producers received higher prices for wheat, corn, milk, and cattle and lower prices for broilers, lettuce, onions, 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 cattle, grapes, sweet corn, and potatoes offset decreased marketings of wheat, hay, strawberries, and milk.
The preliminary All Farm Products Index is up 19 points (15%) from August 2009. The Food Commodities Index, at 145, increased 3 points (2.1%) from a month ago and increased 21 points (17%) from August 2009.
The August Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 182% of the 1990-1992 average. The index is unchanged from July but 5 points (2.8%) above August 2009. Lower prices in August for nitrogen, feeder pigs, feeder cattle, and hay & forages offset higher prices for concentrates, diesel, feed grains, and LP gas.
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