Producers make, pay more in April
The USDA says its index of prices received by farmers was up sharply from March to April, while the index of prices paid was modestly higher.
The index of prices received was up 6.9% on the month because of gains in corn, cattle, hogs, and broilers, which canceled out declines for market eggs, lettuce, cauliflower, and broccoli. The crop index was up 6.8% and livestock rose 7.1%. Monthly marketings saw decreased movement for corn, soybeans, cattle, and hay, against increased movement in milk, broilers, strawberries, and oranges.
The all milk price for April 2021 was $18.40 per hundredweight, up $1 from March and $4 from April 2020.
The index of prices paid was 0.8% higher with producers paying more for feeder cattle, feeder pigs, feed grains, and nitrogen and less for milk cows, diesel fuel, LP gas, and supplements.
Year to year, the April 2021 index of prices received jumped 28% from April 2020 during the early stages of the pandemic, while the index of prices paid was 4.2% higher. The year to year changes for the crop and livestock indices were 23% and 33%, respectively.