Average Prices Received by U.S. Farmers Up Versus Last Year

WASHINGTON - Jul 30/10 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in July, at 143%, based on 1990-1992=100, increased 5 points (3.6%) from June, according to the latest USDA update on the sector.

The Crop Index is up 6 points (4.1%) and the Livestock Index increased 2 points (1.6%). Producers received higher prices for wheat, corn, lettuce, and milk and lower prices for onions, strawberries, grapes, and cantaloups. 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 wheat, grapes, hay, and corn offset decreased marketings of milk, cantaloups, potatoes, and apples.

The preliminary All Farm Products Index is up 13 points (10%) from July 2009. The Food Commodities Index, at 143, increased 5 points (3.6%) from a month ago and 15 points (12%) from July 2009.

The July Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 182% of the 1990-1992 average. The index is unchanged from June but 4 points (2.2%) above July 2009. Lower prices in July for diesel, feeder pigs, nitrogen, and LP gas offset higher prices for feeder cattle, other services, concentrates, and feed grains.

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