February Ag Prices Received Index Up 6.3 Percent, Prices Paid Up 1.2 Percent
February Prices Received Index Up 6.3 Percent
The February Prices Received Index 2011 Base (Agricultural Production), at 95.7, increased 6.3 percent from January and 5.6 percent from February 2020. At 98.1, the Crop Production Index was up 11 percent from last month and 14 percent from the previous year. The Livestock Production Index, at 93.4, increased 1.7 percent from January, but decreased 1.4 percent from February last year. Producers received higher prices during February for soybeans, corn, hogs, and cattle but lower prices for celery, lettuce, milk, and tomatoes. In addition to prices, the volume change of commodities marketed also influences the indexes. In February, there was increased monthly movement for cattle, milk, greenhouse & nursery, and broilers and decreased marketing of soybeans, corn, tobacco, and cotton.
February Prices Paid Index Up 1.2 Percent
The February Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 114.5, is up 1.2 percent from January 2021 and 3.5 percent from February 2020. Higher prices in February for complete feeds, feed grains, feeder pigs, and supplements more than offset lower prices for herbicides, insecticides, fungicides & other, and wage rates.