The U.S. Department of Agriculture (USDA) released its preliminary report on July farm prices Monday afternoon. The all-products price index fell 5.7% month over month to 99, with the crop production index down 2.3 points to 86 and the livestock production index down 5.0 points to 115. The July prices-received index is unchanged month over month, but down 10% from July 2014. The index uses prices from 2011 as its base value (100).
The USDA noted July’s lower prices received for broilers, cattle, strawberries and lettuce offset higher prices for corn, cantaloupes, soybeans and sweet corn. Prices paid by farmers in the month remained unchanged at an index value of 109, 4.0 points lower compared with July 2014.
The price farmers received for livestock is about 5% lower than it was a year ago and the price for meat animals is 3.9% lower. The July hog price is down $1.20 per hundredweight since June, and down $34.60 compared with July 2014. Beef prices are down $7 per hundredweight compared with the July 2014 price and down $6 compared with June.
Year over year, all-wheat prices are down $0.20 a bushel at $5.23, and feed corn is up $0.22 compared with June but down $0.26 compared with July 2014 at $3.80 a bushel.
Dairy prices are down 3.9% month over month and down 28% year over year. Market egg prices slipped $0.12 per dozen compared with June prices to $1.81 a dozen. A dozen eggs costs 76 cents more than it did in July 2014.
The prices farmers paid for feeder pigs fell $23 to $95 per hundredweight in July. Feeder cattle prices fell $10.90 per hundredweight to $226.80 in July.
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