May Agriculture Prices Paid and Received Increase
May Prices Received Index Up 3.9 Percent
The May Prices Received Index 2011 Base (Agricultural Production), at 88.2, increased 3.9 percent from April but decreased 4.8 percent from May 2019. At 94.5, the Crop Production Index was up 2.3 percent from last month and 11 percent from the previous year. The Livestock Production Index, at 82.6, increased 5.4 percent from April, but decreased 17 percent from May last year. Producers received higher prices during May for broilers, hogs, oranges, and cattle but lower prices for market eggs, milk, corn, and potatoes. In addition to prices, the indexes are influenced by the volume change of commodities producers market. In May, there was increased monthly movement for cattle, sweet corn, hay, and strawberries and decreased marketing of soybeans, apples, hogs, and calves.
May Prices Paid Index Up 0.1 Percent
The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 108.8, is up 0.1 percent from April 2020 but down 1.9 percent from May 2019. Higher prices in May for feeder cattle, LP gas, nitrogen, and hay and forages more than offset lower prices for complete feeds, supplements, other services, and feeder pigs.