March Prices Received Index Increased 3.4 Percent
The March Prices Received Index (Agricultural Production), at 94.8, increased 3.4 percent from February 2017. At 87.4, the Crop Production Index increased 0.9 percent. At 100.6, the Livestock Production Index increased 4.7 percent. Producers received higher prices for broilers, cattle, and market eggs but lower prices for milk, strawberries, and hogs. Compared with a year earlier, the Prices Received Index is up 2.4 percent. The Crop Production Index increased 6.5 percent and the Livestock Production Index is up 0.7 percent. In addition to prices, the indexes are influenced by the monthly mix of commodities producers market. Increased monthly movement of cattle, strawberries, milk, and calves offset the decreased marketing of cotton, apples, soybeans, and hay. The Food Commodities Index, at 100.4, increased 3.7 percent from the previous month and is up 3.2 percent from March 2016.
March Prices Paid Index Up 0.5 Percent
The March Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 106.4, is up 0.5 percent from February 2017 but is down 0.1 percent from March 2016. Higher prices in March for feeder cattle, herbicides, nitrogen, and hay & forages more than offset lower prices for LP gas, field crop seeds, other services, and mixed fertilizer.