Farm Input Costs in the U.S. Down On The Month

WASHINGTON - May 28/10 - SNS -- The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 183% of the 1990-1992 average, reveals today's USDA update on the sector.

The index is unchanged from April but 3 points (1.7%) above May 2009. Higher prices in May for nitrogen, diesel, mixed fertilizer, and hay & forages offset lower prices for complete feeds, concentrates, feeder pigs, and feeder cattle. The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 183 (1990-1992=100), is unchanged from April 2010 but is up 1.7% from May 2009. YYY PRODUCTION INDEX: The May index, at 187, increased 0.5% from last month and 1.6% from the previous year. Higher prices in May for nitrogen, diesel, mixed fertilizer, and hay & forages more than offset lower prices for complete feeds, concentrates, feeder pigs, and feeder cattle. YYY Feed: The May index, at 170, decreased 1.2% from April and 12% from last May. Since April, lower prices for complete feeds, concentrates, and feed grains more than offset higher prices for hay & forages and supplements. YYY Livestock & Poultry: The May index, at 139, decreased 0.7% from last month but increased 17% from last year. Since April, prices are lower for feeder pigs and feeder cattle. The May feeder cattle price, at $113.20 per cwt, is down 20 cents from the April price. May feeder pigs averaged $188.00 per cwt, down $4.00 from April. YYY Fertilizer: The May index, at 254, is up 3.7% from April but is 16% below May a year ago. Since April, prices are higher for nitrogen, mixed fertilizer, and potash & phosphate. YYY Chemicals: The May index, at 144, is unchanged from April but decreased 5.9% from last May. Compared with last month, prices are higher for herbicides, insecticides, and fungicides/other. YYY Fuels: The May index, at 291, is up 1.4% from a month earlier and 41% above May 2009. Compared with last month, prices are fractionally higher for diesel and gasoline but lower for LP gas. YYY Machinery: The May index, at 227, is unchanged from April but is 3.2% above last May. Compared with last month, prices are a bit higher for other machinery and self-propelled machinery. YYY CONSUMER PRICE INDEX: The April 2010 Consumer Price Index, as issued by the Bureau of Labor Statistics, for all urban consumers (CPI-U) increased 0.2% before seasonal adjustment to a level of 218.009 (1982-1984=100). The March index is 217.631. For the 12-month period ending in April, the overall index increased 2.2%.

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