USDA Some Crop Prices Lost Ground In September
Some economists had been projecting a moderation of prices paid to farmers for most crops and higher prices for most livestock and during September those projections mostly came to pass. USDA reports prices received index dropping 1.3% for crops during September, rising the same amount for livestock. Prices paid by farmers to do business dropped 0.1%, but is still up 13% from September a year ago.
When it comes to commodities in the month of September:
- Corn lost $0.15 down to an average $7.09 a bushel, still $1.62 higher than September 2021.
- Soybeans lost $1.20 during September averaging $14.10 per bushel, which is still $1.90 higher than one year ago.
- Wheat gained $0.30 in September up to $14.10 that's $1.10 more than 2021.
When it comes to livestock, most sectors seeing higher prices in September. One exception was hogs where producers in September saw their prices drop by $12.00 cwt, down to $73 cwt, which is $3 more than a year ago.
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