Prices Received by U.S. Farmers Up Versus Last Month

WASHINGTON - Jan 29/10 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in January, at 137%, based on 1990-92=100, increased 2 points (1.5%) from December, judging from the latest USDA report.

The Crop Index is unchanged but the Livestock Index increased 4 points (3.4%). Producers received higher prices for broilers, cattle, hogs, and apples and lower prices for lettuce, corn, broccoli, and soybeans. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly marketings of corn, soybeans, wheat, and rice offset decreased marketings of milk, broilers, cotton, and grapes.

The preliminary All Farm Products Index is down 2 points (1.4%) from January 2009. The Food Commodities Index, at 137, increased 2 points (1.5%) from last month and increased 3 points (2.2%) from January 2009.

The January Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 183% of the 1990-92 average. The index is up 4 points (2.2%) from December and 3 points (1.7%) above January 2009. Higher prices for taxes, cash rent, other services, and diesel more than offset lower prices in January for interest, feed grains, concentrates, and mixed fertilizer.

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