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A little more profitable on the farm in November

The Preliminary Index of Prices Received by Farmers for November increased 2 percent from October.  The National Ag Statistics Service says farmers received higher prices for cattle, eggs, soybeans and lettuce.  Lower prices for hogs, milk, broilers and apples.

The November Crop Index was unchanged from October: Corn averaged $3.57 per bushel up a penny from last month. Soybeans increased 13 cents to average $10.10 per bushel.  All-wheat was 25 cents higher at $5.96 while all-hay dropped $9 to $164 per ton.

The November Livestock Index declined 1.5 percent from October. Hogs fell $10.30 to average $66.70 per hundredweight, the lowest hog price since February.  Beef cattle were up $5 to a record $166 per hundredweight.  Broilers were down 2 cents at 64 cents per pound, turkeys were 4.4 cents lower at 77.8 cents per pound, eggs increased 43.6 cents to average $1.37 per dozen.

The November all-milk price is $23.40 per hundredweight down $1.50 from October. The Preliminary Milk-to-Feed Ratio is 2.8 for November compared to 2.91 in October and 2.27 in November of 2013.

The Index of Prices Paid by Farmers declined 0.9 percent from October reflecting lower prices for complete feeds, concentrates, hay and forages and other services. That was more than enough to offset the higher prices for feed grains, nitrogen, mixed fertilizer and trucks.

Compared to a year ago, the prices farmers receive are 2 percent higher while the prices paid by farmers are 3.8 percent above November of 2013.

Read the full NASS report here: