USDA ag price indices up slightly in June

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USDA ag price indices up slightly in June

U.S. farmers paid and made fractionally more in June than in May.

The USDA says the index of prices received by farmers was up 0.2% on the month, with gains in corn, soybeans, hogs, and oranges mostly canceling out losses in wheat, milk, broilers and strawberries.

The index of prices paid was 0.4% higher on increased costs for feeder cattle, gasoline, diesel, and other services against decreases in feeder pigs, mixed fertilizer, potash and phosphate, and complete feeds.

Year-to-year, the index of prices received is 26% higher and the index of prices paid is up 13%, with both influenced by improvements in the general ag economy and rising inflation.

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