Agricultural prices increase in October
Nov. 1, 2012
by Meat&Poultry Staff
WASHINGTON – The preliminary All Farm Products Index of Prices Received by Farmers in October, at 210 percent increased 17 points, or 8.8 percent from September, according to the US Department of Agriculture's National Agricultural Statistics Service (NASS).
The Crop Index advanced 15 points (6.7 percent) and the Livestock Index increased 4 points (2.6 percent), NASS said. Producers received higher prices for milk, hogs, grapes, and corn and lower prices for eggs, apples, lettuce, and soybeans.
In addition to prices, the overall index is also affected by the seasonal change based on a three-year average mix of commodities producers sell. Increased monthly movement of soybeans, corn, grain sorghum, and cottonseed offset the decreased marketing of wheat, milk, cattle, and grapes, according to NASS.
The preliminary All Farm Products Index gained 25 points (14 percent) compared to October 2011. The Food Commodities Index, at 194, climbed 14 points (7.8 percent) from September and increased 20 points (11 percent) from October 2011, NASS said.
The October index for livestock and products was at 160, or 2.6 percent above last month and up 3.9 percent from October 2011. Prices are higher for broilers, cattle, milk, calves, and eggs, compared with a year ago, NASS said. Prices for hogs and turkeys declined from 2011.
The October index for meat animals was at 158, a gain of 2.6 percent from last month and 1.3 percent higher than the comparable period in 2011. The October hog price, at $60.70 per cwt, increased $5.00 from September but $8.00 lower than in 2011. The October beef cattle price of $121 per cwt is unchanged from last month but $4.00 higher than October 2011, according to NASS.
The October index for poultry and eggs, at 164, declined 2.4 percent from September but is 10 percent above a year ago, according to NASS. The October market egg price, at 83.7 cents per dozen, decreased 22.3 cents from September and is 2.1 cents below October 2011. Prices for broilers in October were 50 cents per lb., a gain of 1 cent from September and 7 cents above a year ago. The October turkey price, at 76.5 cents per lb., climbed 0.3 cents from September but eased 0.8 cents from a year earlier, NASS said.
The October dairy products index, at 162, climbed 8 percent from September and 5.9 percent higher than October 2011. The October all milk price of $21.10 per cwt was an increase of $1.50 from September and $1.10 from October 2011.