Source: Thinkstock
Farm costs, measured by the prices paid index rose 0.5% month over month to 221, but that is 3.3% higher than June of 2012. Higher prices for nitrogen fertilizer, feeder cattle, and other fertilizers and supplements led the prices-paid hike.
Prices received by farmers rose the most for oilseeds, particularly soybeans, which are 8.6% higher than in June of 2012. Consumer prices for fruits and nuts rose 11% month over month, but are 2.1% lower than they were a year ago. Potatoes and dry beans are cheaper than they were a year ago and meat prices are up 0.6% compared with June of 2012, but flat month over month.
The USDA also noted that it is suspending a number of its statistical surveys and reports for the remainder of the 2013 fiscal year due to reduced funding.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
