USDA indices of prices received, paid up in June
The USDA says producers made and paid more in June than in May. The index of prices received was up 1% on the month as a 5.0% jump in the livestock index canceled out a 3.3% decline for crops. Prices moved higher for milk, broilers, oranges, and lettuce, but were lower for hogs, corn, market eggs, and cantaloupes.
The dairy index for June 2020 was up 33% from May but unchanged from June 2019. The all milk price was $18.10 per hundredweight, $4.50 higher than the previous month and steady with last year.
The index of prices paid had 0.3% gain from the month before as increased costs for feeder cattle, gasoline, LP gas, and other services canceled out decreases in feeder pigs, complete feeds, nitrogen, hay, and forages.
For the month, the index of prices received for the month remained below the index of prices paid, reflecting losses for a significant portion of the ag industry.
Year to year, the index of prices received was down 4.9% from June 2019 and the index of prices paid was 1.2% lower.