January Farm Prices Received Decreases, Prices Paid Increases
January Prices Received Index Decreased 1.6 Percent The January Prices Received Index (Agricultural Production), at 86.4, decreased 1.6 percent from December 2016. At 78.3, the Crop Production Index decreased 3.1 percent. At 96.6, the Livestock Production Index increased 2.3 percent. Producers received lower prices for market eggs, turkeys, tomatoes, and cauliflower but higher prices for cattle, hogs, broilers, and corn. Compared with a year earlier, the Prices Received Index is down 2.9 percent. The Crop Production Index decreased 1.5 percent and the Livestock Production Index declined 3.4 percent. In addition to prices, the indexes are influenced by the monthly mix of commodities producers market. Increased monthly movement of corn, soybeans, market eggs, and apples offset the decreased marketing of milk, hogs, cotton, and hay. The Food Commodities Index, at 93.5, increased 0.4 percent from the previous month but is down 2.5 percent from January 2016. January Prices Paid Index Up 1.9 Percent The January Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 106.5, is up 1.9 percent from December 2016 but is down 0.2 percent from January 2016. Higher prices in January for feeder pigs, other services, feeder cattle, and interest more than offset lower prices for milk cows, repairs, hay & forages, and complete feeds.