News

A little less profitable on the farm in July

The Preliminary Index of Prices Received by Farmers in July decreased 3.6 percent from June.  Farmers received lower prices for corn, soybeans, wheat and broilers; higher prices for cattle, hogs, eggs and onions.

The Crop Index declined 8.2 percent from June.  Corn averaged $3.80 per bushel down 69 cents from June.  Soybeans decreased $1.70 to average $12.70 per bushel.  All wheat was down 39 cents at $6.10 and all hay was $5 lower at $192 per ton.

The Livestock Index increased 3.1 percent from June.  Hogs averaged $92.80 per hundredweight up $8 from June.  Beef increased $8 as well to average $155 per hundredweight.  Broilers declined 3 cents to average 68 cents per pound, turkeys increased 1.3 cents to 74.1 cents and eggs increased 17.6 cents to average $1.05 per dozen.

All milk increased 20 cents to $23.40 per hundredweight.  The preliminary milk-to-feed ratio for July is 2.44 compared to 2.2 in June and 1.53 in July of 2013.

The Index of Prices Paid by Farmers was up 0.9 percent from June.  Higher prices for feeder cattle, feeder pigs and milk cows more than offset lower prices for feed grains, complete feeds, supplements and nitrogen.

The Prices Farmers Received Index was unchanged from July of 2013 while the Prices Paid Index was 5.6 percent above a year ago.

 

Read the full NASS report here