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USDA February ag prices indices up from January

The USDA’s February ag price indices were up from January.

The index of prices received by farmers was up 7.1% on the month due to gains in cattle, hogs, market eggs, and lettuce, which canceled out losses in corn, soybeans, wheat, and broilers.

The dairy index was up 2.5% from January, but down 4.7% from February 2023, with an all milk price of $20.60 per hundredweight, a rise of $.50 on the month, but a loss of $1.00 on the year.

The index of prices paid was 0.6% higher on increased costs for feeder cattle, feeder pigs, LP gas, and diesel against decreases in feed grains, complete feeds, supplements, and nitrogen.

Year-to-year, the index of prices received was 5.4% lower and the index of prices paid was down 1.4%, reflecting losses for farmers, but also a welcome decline in expenditures.