Agricultural Prices - Way up

From the National Agricultural Statistics Service:

June Farm Prices Received Index Jumped 11 Points From Last Month

The preliminary All Farm Products Index of Prices Received by Farmers in June, at 162 percent, based on 1990-92=100, increased 11 points (7.3 percent) from May. The Crop Index is up 19 points (11 percent) and the Livestock Index increased 3 points (2.2 percent). Producers received higher prices for corn, soybeans, milk, and lettuce and lower prices for strawberries, cantaloups, and wheat. 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 wheat, hay, grapes, and cantaloups offset decreased marketings of tomatoes, oranges, strawberries, and sweet corn.

The preliminary All Farm Products Index is up 25 points (18 percent) from June 2007. The Food Commodities Index, at 157, increased 10 points (6.8 percent) from last month and increased 19 points (14 percent) from June 2007.


Prices Paid Index Up 3 Points

The June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 189 percent of the 1990-92 average. The index is up 3 points (1.6 percent) from May and 28 points (17 percent) above June 2007. Higher prices in June for feed grains, diesel fuel, feed concentrates, and mixed fertilizers offset lower prices for hay & forages and
feeder pigs.


Fruits & Nuts: The June index, at 152, is down 1.3 percent from May but 0.7 percent higher than a year ago. A price decrease for strawberries more than offset price increases for apples and lemons.

Commercial Vegetables: The June index, at 152, is up 4.1 percent from last month and 14 percent above June 2007. Price increases during June for lettuce, tomatoes, cucumbers, and cauliflower more than offset price declines for cantaloups, sweet corn, onions, and carrots.

Potatoes & Dry Beans: The June index, at 181, is up 12 percent from last month and 37 percent above June 2007. The all potato price, at $10.37 per cwt, is up $1.21 from May and up $2.62 from last June. The all dry bean price, at $38.60 per cwt, is up $2.90 from the previous month and $14.20 above June 2007.