Farm income declined in July

Farm income declined in July

Farmers made less money in July than they did in June.

The USDA says the index of prices received by farmers for July fell 2.1% with declines in corn, hay, milk, and broilers more than canceling out gains in soybeans, hogs, lettuce, and strawberries.

The dairy index for July 2023 was down 2.8% from June and 32% from July 2022, with an all milk price of $17.40 per hundredweight, a drop of $.50 on the month and $8.10 on the year.

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