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USDA ag prices October report
Story Date: 11/1/2012
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Source: USDA, 10/31/12
To read the full report, click here.
October Farm Prices Received Index Increased 17 Points
The preliminary All Farm Products Index of Prices Received by Farmers in October, at 210 percent, based on 1990-1992=100, increased 17 points (8.8 percent) from September. The Crop Index is up 15 points (6.7 percent) and the Livestock Index increased 4 points (2.6 percent). Producers received higher prices for milk, hogs, grapes, and corn and lower prices for eggs, apples, lettuce, and soybeans. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly movement of soybeans, corn, grain sorghum, and cottonseed offset the decreased marketing of wheat, milk, cattle, and grapes.
The preliminary All Farm Products Index is up 25 points (14 percent) from October 2011. The Food Commodities Index, at 194, increased 14 points (7.8 percent) from last month and increased 20 points (11 percent) from October 2011.
Prices Paid Index Up 2 Points
The October Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 220 percent of the 1990-1992 average. The index is up 2 points (0.9 percent) from September and 15 points (7.3 percent) above October 2011. Higher prices in October for complete feeds, concentrates, nitrogen, and feeder cattle offset lower prices for mixed fertilizer, supplements, gasoline, and diesel.
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