News Column

July Farm Prices Received Index Down 4 Points

July 31, 2014

LAKEWOOD, Colo., July 31 -- The U.S. Department of Agriculture's Colorado Agricultural Statistics office issued the following news release:

The preliminary All Farm Products Index of Prices Received by Farmers in July, at 108 percent, based on 2011=100, decreased 4 points (3.6 percent) from June. The Crop Index is down 8 points (7.1 percent) but the Livestock Index increased 4 points (3.9 percent). Producers received lower prices for corn, soybeans, broilers, and wheat and higher prices for cattle, hogs, eggs, and onions. 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 wheat, grapes, hay, and cotton offset the decreased marketing of milk, cattle, oranges, and hogs. The preliminary All Farm Products Index is unchanged from July 2013. The Food Commodities Index, at 120, decreased 2 points (1.6 percent) from last month but is up 13 points (12 percent) from July 2013. Prices Paid Index up 1 Point

The July Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 113 percent of the 2011 base. The index is up 1 point (0.9 percent) from June and 6 points (5.6 percent) above July 2013.Higher prices for feeder cattle, other services, milk cows, and feeder pigs more than offset lower prices in July for feed grains, nitrogen, complete feeds, and supplements.

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Source: Targeted News Service

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