January Ag Prices Received Decreases, Prices Paid Increases
January Prices Received Index Decreased 6.2 Percent
The January Prices Received Index (Agricultural Production), at 85.9, decreased 6.2 percent from December 2017. At 78.2, the Crop Production Index decreased 6.5 percent. The Livestock Production Index, at 94.5, decreased 5.1 percent. Producers received lower prices for market eggs, milk, tomatoes, and lettuce but higher prices for broilers, oranges, hogs, and cattle. Compared with a year earlier, the Prices Received Index is up 0.2 percent. The Crop Production Index increased 1.7 percent but the Livestock Production Index decreased 2.0 percent. In addition to prices, the indexes are influenced by the volume change of commodities producers market. Increased monthly movement of milk, soybeans, and corn offset the decreased marketing of cattle, market eggs, broilers, and hogs. The Food Commodities Index, at 92.5, decreased 6.4 percent from the previous month and 0.4 percent from January 2017.
January Prices Paid Index Up 0.6 Percent
The January Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 108.4, is up 0.6 percent from December 2017 and 2.7 percent from January 2017. Higher indexes in January for interest, herbicides, other services, and feeder pigs more than offset lower indexes for cash and share rent, feeder cattle, and feed concentrates.