USDA May Farm Prices - Jun 30

06/30/2020 | 03:58 pm
    WASHINGTON -(Dow Jones)- The index of prices received by U.S. farmers 
for their products in May was +3.9% From April, but -4.8% From 
a year earlier, the U.S. Department of Agriculture said Tuesday. 
 
May Prices Received Index Up 3.9 Percent 
 
The May Prices Received Index 2011 Base (Agricultural Production), at 88.2, 
increased 3.9 percent from April but decreased 4.8 percent from May 2019. At 
94.5, the Crop Production Index was up 2.3 percent from last month and 
11 percent from the previous year. The Livestock Production Index, at 82.6, 
increased 5.4 percent from April, but decreased 17 percent from May last 
year. Producers received higher prices during May for broilers, hogs, 
oranges, and cattle but lower prices for market eggs, milk, corn, and 
potatoes. In addition to prices, the indexes are influenced by the volume 
change of commodities producers market. In May, there was increased monthly 
movement for cattle, sweet corn, hay, and strawberries and decreased 
marketing of soybeans, apples, hogs, and calves. 
 
May Prices Paid Index Up 0.1 Percent 
 
The May Prices Paid Index for Commodities and Services, Interest, Taxes, and 
Farm Wage Rates (PPITW), at 108.8, is up 0.1 percent from April 2020 but down 
1.9 percent from May 2019. Higher prices in May for feeder cattle, LP gas, 
nitrogen, and hay and forages more than offset lower prices for complete 
feeds, supplements, other services, and feeder pigs. 
 
 
                          Index Summary Table 
========================================================================= 
                      2019           2019           2020           2020 
   Index         -------------------------------------------------------- 
   Group               Apr            May            Apr            May 
========================================================================= 
 
Prices Received       90.3           92.6           84.9           88.2 
Prices Paid          110.7          110.9          108.7          108.8 
Ratio 1/                84             84             78             81 
========================================================================= 
1/  Ratio of index of prices received by farmers to index of prices paid by 
    farmers. 
Write to Rodney Christian at csstat@dowjones.com 
 

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