January Agricultural Prices Received Decreases, Prices Paid Increase
January Prices Received Index Down 4.5 Percent
The January Prices Received Index (Agricultural Production), at 84.9, decreased 4.5 percent from December 2018. At 76.3, the Crop Production Index decreased 10.8 percent. The Livestock Production Index, at 97.9, increased 6.4 percent. Producers received higher prices for broilers, cattle, milk, and hogs but lower prices for lettuce, market eggs, cotton, and broccoli. Compared with a year earlier, the Prices Received Index is down 0.7 percent. The Crop Production Index decreased 1.7 percent and the Livestock Production Index increased 3.6 percent. The indexes are calculated using commodity prices and volumes of commodities that producers market. Increased monthly movement of corn, soybeans, wheat, and cattle offset the decreased marketing of milk, broilers, greenhouse & nursery, and market eggs. The Food Commodities Index, at 92.8, decreased 1.5 percent from the previous month but was unchanged from January 2018.
January Prices Paid Index Up 0.1 Percent
The January Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 109.3, is up 0.1 percent from December 2018 and up 1.0 percent from January 2018. Higher prices in January for other services, complete feeds, hay and forages, and self-propelled machinery more than offset lower prices for diesel, milk cows, supplements, and concentrates.