October Prices Received Index Decreased 5.2 Percent
The October Prices Received Index (Agricultural Production), at 87.3, decreased 5.2 percent from September 2017. At 82.2, the Crop Production Index decreased 8.1 percent. At 94.1, the Livestock Production Index decreased 0.7 percent. Producers received lower prices for market eggs, broilers, apples, and potatoes but higher prices for cattle, lettuce, sweet corn, and hay. Compared with a year earlier, the Prices Received Index is up 8.3 percent. The Crop Production Index increased 3.8 percent. The Livestock Production Index increased 14 percent. In addition to prices, the indexes are influenced by the volume change of commodities producers market. Increased monthly movement of soybeans, corn, cotton, and calves offset the decreased marketing of cattle, milk, broilers, and wheat. The Food Commodities Index, at 92.8, decreased 4.0 percent from the previous month but increased 10 percent from October 2016.
October Prices Paid Index Up 0.7 Percent
The October Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 107.6, is up 0.7 percent from September 2017 and 4.6 percent from October 2016. Higher prices in October for feeder cattle, feeder pigs, wage rates, and hay & forages more than offset lower prices for other services, gasoline, feed grains, and milk cows.