July Prices Received Index Down 2.0 Percent, Prices Paid Index Up 0.5 Percent
July Prices Received Index Down 2.0 Percent
The July Prices Received Index 2011 Base (Agricultural Production), at 87.4, decreased 2.0 percent from June and 4.3 percent from July 2019. At 90.0, the Crop Production Index was down 2.0 percent from last month but up 0.9 percent from the previous year. The Livestock Production Index, at 84.5, decreased 2.5 percent from June, and 9.8 percent from July last year. Producers received higher prices during July for milk, market eggs, potatoes, and corn but lower prices for cattle, broilers, hogs, and oranges. In addition to prices, the indexes are influenced by the volume change of commodities producers market. In July, there was increased monthly movement for grapes, wheat, hay, and tomatoes and decreased marketing of milk, oranges, cattle, and strawberries.
July Prices Paid Index Up 0.5 Percent
The July Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 109.7, is up 0.5 percent from June 2020 but down 0.8 percent from July 2019. Higher prices in July for feeder cattle, other services, herbicides, and milk cows more than offset lower prices for nitrogen, potash and phosphate, concentrates, and LP gas.