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USDA Agricultural Prices


31 October 2014

USDA Agricultural Prices - 31 October 2014USDA Agricultural Prices - 31 October 2014


USDA Agricultural Prices

October Farm Prices Received Index Declined 9 Points

The preliminary Agricultural Production Index of Prices Received by Farmers in October, at 98 percent, based on 2011=100, fell 9 points (8.4 percent) from September. The Crop Index decreased 9 points (10 percent) but the Livestock Index increased 4 points (3.0 percent). Producers received lower prices for soybeans, corn, and milk and higher prices for hogs, calves, and cattle. 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 movement of soybeans, corn, cotton, and calves offset the decreased marketing of cattle, milk, broilers, and wheat.

The preliminary Agricultural Production Index decreased 2 points (2.0 percent) from October 2013. The Food Commodities Index, at 111, decreased 8 points (4.7 percent) from last month but increased 5 points (4.7 percent) from October 2013.

Prices Paid Index Unchanged

The October Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is at 112 (2011=100). The index is unchanged from September, but 6 points (5.7 percent) above October 2013. Lower prices in October for concentrates, feed grains, diesel, and gasoline offset higher prices for feeder cattle, milk cows, feeder pigs, and supplements.

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