May Prices Received Index Down 1.1 Percent
The May Prices Received Index (Agricultural Production), at 91.9, decreased 1.1 percent from April 2019. At 84.0, the Crop Production Index decreased 0.8 percent. The Livestock Production Index, at 98.8, decreased 1.2 percent. Producers received lower prices for cattle, market eggs, lettuce, and strawberries but higher prices for broilers, hogs, corn, and broccoli. Compared with a year earlier, the Prices Received Index is down 3.1 percent. The Crop Production Index decreased 5.7 percent and the Livestock Production Index increased 0.5 percent. The indexes are calculated using commodity prices and volumes of commodities that producers market. Increased monthly movement of cattle, hay, sweet corn, and broilers offset the decreased marketing of soybeans, hogs, apples, and calves. The Food Commodities Index, at 96.0, decreased 1.5 percent from the previous month and 2.1 percent from May 2018.
May Prices Paid Index Down 0.4 Percent
The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 110.8, is down 0.4 percent from April 2019 but up 1.6 percent from May 2018. Lower prices in May for feeder cattle, feeder pigs, complete feeds, and LP gas more than offset higher prices for nitrogen, feed grains, hay and forages, and other services.