Farmers made and paid more in February
The Prices Received Index was up 7.4% from January and up 26% year-over-year. The Crop Production Index was up 9.3% on the month and up 17% on the year. The Livestock Production Index was up 1.4% on the month and up 35% from 2021.
Producers received higher prices during February for soybeans, corn, hogs, and oranges. And received less for broilers, broccoli, market eggs, and strawberries.
The USDA says there was also increased monthly movement for cattle, milk, and broilers, while marketings for soybean, corn, and wheat declined.
The USDA’s dairy index for February was up 2% on the Month and was up 44% year-over-year. The all milk price at $24.20 per cwt, a gain of $.50 on the month and $7.60 on the year.
Prices paid by farmers were up 1.5% on the month and up 12% year-over-year. Prices were higher for feeder pigs, nitrogen, and feed grains.
The rise in prices paid and received continues to put a spotlight on inflation and how the broader ag economy reacted during the first year of the pandemic.