News

Farm prices lower in January

The prices received by farmers in January were down 2 percent from December. Livestock prices decreased 3.2 percent with lower prices for milk, hogs and calves.  Crop prices were unchanged from December.

The average corn price in January was $3.81 per bushel up 3 cents from December. Soybeans averaged $10.30 per bushel, unchanged from the previous month.  The all wheat price was 3 cents higher at $6.14 and all hay was down $7 at $152 per ton.

The January hog price was down $6.90 from December to average $57.40 per hundredweight. Beef cattle were steady with the previous month at $164 per hundredweight.  The January all milk price is $17.60 down $2.80 from December and $5.90 below January of 2014.  The January milk-to-feed ratio is 2.09 compared to 2.38 in December and 2.46 in January of 2014.

The Index of Prices Paid by Farmers was 1.8 percent lower than December with farmers paying less for feeder cattle, concentrates, diesel and herbicides.

Compared to a year ago, January Prices Received were 1 percent lower while prices paid were 0.9 percent higher than January of 2014.

Read the full NASS report here: