December Farm Prices Received Increases, Prices Paid Inches Up
December Prices Received Index Increased 0.8 Percent
The December Prices Received Index (Agricultural Production), at 91.7, increased 0.8 percent from November 2017. At 84.0, the Crop Production Index increased 3.2 percent. The Livestock Production Index, at 99.7, decreased 2.0 percent. Producers received higher prices for corn, lettuce, broilers, and tomatoes but lower prices for milk, oranges, cattle, and market eggs. Compared with a year earlier, the Prices Received Index is up 4.4 percent. The Crop Production Index increased 4.1 percent and the Livestock Production Index increased 5.5 percent. In addition to prices, the indexes are influenced by the volume change of commodities producers market. Increased monthly movement of oranges, market eggs, broilers, and milk offset the decreased marketing of corn, grapes, calves, and soybeans. The Food Commodities Index, at 98.8, decreased 1.1 percent from the previous month but increased 5.9 percent from December 2016.
December Prices Paid Index Up 0.3 Percent
The December Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 108.2, is up 0.3 percent from November 2017 and 4.0 percent from December 2016. Higher prices for feeder pigs, complete feeds, nitrogen, and supplements more than offset lower prices in December for feeder cattle, gasoline, LP gas, and wage rates.