July Farm Prices Received Drops, Prices Paid Unchanged
July Prices Received Index Down 2.9 Percent
The July Prices Received Index (Agricultural Production), at 95.3, decreased 2.9 percent from June 2017. At 86.3, the Crop Production Index decreased 1.1 percent and the Livestock Production Index, at 104.0, decreased 3.1 percent. Producers received lower prices for cattle, broilers, and calves but higher prices for market eggs, hogs, and wheat. Compared with a year earlier, the Prices Received Index is up 5.3 percent. The Crop Production Index increased 2.1 percent and the Livestock Production Index 8.3 percent. In addition to prices, the indexes are influenced by the monthly mix of commodities producers market. Increased monthly movement of grapes, wheat, hay, and cotton offset the decreased marketing of milk, oranges, cattle, and broilers. The Food Commodities Index, at 100.5, is down 3.5 percent from the previous month but up 6.7 percent from July 2016.
July Prices Paid Index Unchanged
The July Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 107.0, is unchanged from June 2017 but is up 1.4 percent from July 2016. Lower prices in July for nitrogen, feeder cattle, potash & phosphate, and milk cows offset higher prices for concentrates, feed grains, LP gas, and other services.