October Prices Received Index Down 3.5 Percent
The October Prices Received Index (Agricultural Production), at 85.1, decreased 3.5 percent from September 2018. At 80.1, the Crop Production Index decreased 9.1 percent. The Livestock Production Index, at 91.3, increased 3.4 percent. Producers received higher prices for milk, hogs, cattle, and lettuce but lower prices for grapes, soybeans, apples, and lemons. Compared with a year earlier, the Prices Received Index is down 3.1 percent. The Crop Production Index decreased 3.1 percent and the Livestock Production Index decreased 3.2 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 milk, cattle, broilers, and greenhouse & nursery. The Food Commodities Index, at 88.8, decreased 2.0 percent from the previous month and decreased 5.2 percent from October 2017.
October Prices Paid Index Up 0.5 Percent
The October Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 109.4, is up 0.5 percent from September 2018 and 2.4 percent from October 2017. Higher prices in October for feeder cattle, feeder pigs, wage rates, and nitrogen more than offset lower prices for complete feeds, milk cows, other services, and LP gas.