WASHINGTON -(Dow Jones)- The index of prices received by U.S. farmers
for their products in August was +1.0% From July, but -3.5% From
a year earlier, the U.S. Department of Agriculture said Wednesday.
August Prices Received Index Up 1.0 Percent
The August Prices Received Index 2011 Base (Agricultural Production), at
88.3, increased 1.0 percent from July but decreased 3.5 percent from
August 2019. At 92.5, the Crop Production Index was up 2.9 percent from last
month and 3.7 percent from the previous year. The Livestock Production Index,
at 84.1, decreased 0.5 percent from July, and 10 percent from August 2019.
Producers received higher prices during August for cattle, hogs, market eggs,
and soybeans but lower prices for milk, broilers, lettuce, and corn. In
addition to prices, the indexes are influenced by the volume change of
commodities producers market. In August, there was increased monthly movement
for cattle, grapes, tobacco, and sweet corn and decreased marketing of wheat,
corn, soybeans, and strawberries.
August Prices Paid Index Up 0.2 Percent
The August Prices Paid Index for Commodities and Services, Interest, Taxes,
and Farm Wage Rates (PPITW), at 109.9, is up 0.2 percent from July 2020 but
unchanged from August 2019. Higher prices in August for feeder cattle, feeder
pigs, LP gas, and supplies more than offset lower prices for feed grains,
complete feeds, nitrogen, and other services.
Index Summary Table
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2019 2019 2020 2020
Index --------------------------------------------------------
Group Jul Aug Jul Aug
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Prices Received 91.3 91.5 87.4 88.3
Prices Paid 110.6 109.9 109.7 109.9
Ratio 1/ 82 83 79 80
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1/ Ratio of index of prices received by farmers to index of prices paid by
farmers.
Write to Rodney Christian at csstat@dowjones.com