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USDA: producers make less, pay more in January

The USDA says most producers made less and paid more in January than in December.

The index of prices received fell 1.4% with a 3.1% decrease in the crop index cancelling out a 0.9% increase for the livestock index, as losses in milk, broilers, cauliflower, and broccoli offsetting gains in corn, soybeans, market eggs, and celery.

The dairy index for January fell by 5.3% from December and 11% from January 2020, with the all milk price at $17.50, a loss of $1.00 on the month and $2.10 on the year.

The index of prices paid was rose 0.8% on higher costs for feeder pigs, feed corn, LP gas, and complete feeds against reductions for feeder cattle, share rent, cash rent, and wages.

Year to year, the index of prices received was up 1.2%, grains 7.6% higher, livestock 6.9% lower, and the index of prices paid gained 2%.