May Ag Prices Received Index Up 1.8 Percent, Prices Paid Up 0.9 Percent
May Prices Received Index Up 1.8 Percent
The May Prices Received Index 2011 Base (Agricultural Production), at 106.8, increased 1.8 percent from April and 27 percent from May 2020. At 106.6, the Crop Production Index was up 0.5 percent from last month and 23 percent from the previous year. The Livestock Production Index, at 107.0, increased 2.9 percent from April, and 29 percent from May last year. Producers received higher prices during May for corn, broilers, soybeans, and milk but lower prices for strawberries, lettuce, calves, and market eggs. In addition to prices, the volume change of commodities marketed also influences the indexes. In May, there was increased monthly movement for cattle, hay, broilers, and corn and decreased marketing of soybeans, hogs, apples, and calves.
May Prices Paid Index Up 0.9 Percent
The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 114.1, is up 0.9 percent from April 2021 and 5.7 percent from May 2020. Higher prices in May for complete feeds, feed grains, supplements, and nitrogen more than offset lower prices for feeder cattle, feeder pigs, and LP gas.