Producers make less, pay more in December

News

Producers make less, pay more in December

The USDA says producers made less and paid more in December than in November.

The index of prices received was down 1.8% on the month, with 0.5% decline in the crop index and a 3.5% loss for the livestock index. Price rose for corn, soybeans, cattle, and broilers, but fell for milk, market eggs, lettuce, and oranges.

The dairy index for December 2020 was down 13% from November and 11% from December 2019, with the all milk price at $18.50 per hundredweight, a decrease of $2.80 on the month and $2.20 on the year.

The index of prices paid was 0.7% higher, with increases in costs for complete feeds, feeder pigs, LP gas, and diesel cancelling out decreases for feeder cattle, herbicides, fungicides, and insecticides.

Year to year, the index of prices received was up 6.6%, while the index of prices paid gained 1.6%.