USDA: Ag Prices Dip In October
A month-over-month drop in prices received by crop producers led to an overall decline in the latest USDA agricultural prices report. The overall index was down 2.7% in October while the crop price index was reduced by 4% from the previous month.
Lower prices received by growers of food and feed grades and oil seeds negated month-over-month increases to what vegetable, melon, fruit and tree nut growers received price wise. The lower crop prices received in October also offset to 1.8% increase in the livestock price index.
Dairy producers saw the largest price increase receiving 6% more price wise than the previous month although beat animal poultry and egg producers also saw month-over-month rises in prices received.
Producers also paid slightly more for inputs and services in October 0.3% more compared to the month prior.
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