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USDA Agricultural Prices Report

11/02/2020

THE USDA Agricultural Prices Report posted September Prices for agricultural commodities and expenditures. The index for prices received rose 0.9 percent from August. The index for prices paid was up 0.4 percent, widening margins. The ratio of prices received to prices paid was 81 percent in September compared with 80 percent in August 2020 and September 2019.

 

The USDA ERS detailed prices as follows:-

The September Prices Received Index (2011 Base for Agricultural Production at 89.0), increased 0.9 percent from August and 1.1 percent from September 2019. At 93.7, the Crop Production Index was up 1.3 percent from last month and 5.9 percent from September 2019. The Livestock Production Index, at 84.1, increased 0.2 percent from August, but decreased 3.7 percent from September 2019. Producers received higher prices during September for lettuce, hogs, corn, and soybeans but lower prices for milk, broilers, potatoes, and hay. In addition to prices, the indexes are influenced by the volume change of commodities producers market. In September, there was increased monthly movement for soybeans, corn, apples, and dry beans and decreased marketing of cattle, wheat, cotton, and strawberries.

 

The September Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 110.3, was up 0.4 percent from August 2020 and 0.6 percent from September 2019. Higher prices in September for feeder pigs, feed grains, complete feeds, and supplements more than offset lower prices for hay and forages, feeder cattle, other services, and LP gas.

 

Corn farmers received $3.41 per bushel in September 2020 compared to $3.80 per bushel in September 2019, down 11.4 percent.

 

Soybean farmers received $9.24 per bushel in September 2020 compared to $8.35 per bushel in September 2019, up 10.7 percent.