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Lower prices and expenses on the farm in October

Wisconsin Organic Farm

The Monthly Index of Prices Received by Farmers in October decreased 9.2 percent from September. Livestock prices were 4.6 percent lower and crop prices dropped 8 percent from the previous month.  Lower producer prices for cattle, eggs, broiler and lettuce more than offset higher farm prices for hogs, milk, sweet corn and strawberries.

The Crop Index was down 8 percent from September, corn averaged $3.67 per bushel down 1 cent; soybeans were 24 cents lower at $8.81 per bushel. The all-wheat price was up 15 cents at $4.87, all hay was a dollar higher at $146 per ton.  Alfalfa hay was $156 per ton down a dollar from September as well.

The Livestock Index was down 4.6 percent from September: Beef cattle averaged $128 per hundredweight down $11; that is the lowest cattle price in two years. Hogs were $1 higher at $55.50 per hundredweight.  Broilers were 2 cents lower at 41 cents per pound, turkeys were 4.7 cents higher at 97.2 cents per pound and eggs averaged $1.26 per dozen down 54 cents from September.

The October all milk price was $17.70 per hundredweight up 20 cents from September. Prices ranged from $21.50 in Florida (-70 cents) to $16.13 in California (+41 cents).  The milk-to-feed ratio for October is 2.29 compared to 2.25 in September and 2.92 a year ago.  Milk cow prices declined from July. The average dairy cow sold for $1,980 at the end of October compared to $2,030 in July and $2,120 in October of 2014.  Cow prices ranged from $1,800 in Ohio to $2,100 in Arizona, California and Michigan

The Index of Prices Paid by Farmers was unchanged from September. Lower prices for concentrates, complete feeds and nitrogen balanced-out higher prices for feeder cattle, feeder pigs, hay and forages and wages.

Compared to October of 2014; prices paid to farmers are down 11 percent while the prices paid by farmers were 4.5 percent lower.

Read the full NASS report here:

 

 

 

 

 

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