Tuesday, November 1st 2016
The USDA says producers made and paid less in September than in August. The prices received index was down 3.9% on the month with lower prices for cattle, hogs, broiler chickens, and peaches, and lower marketings of cattle, cotton, wheat, and peaches. The prices paid index was 1.1% lower with reduced prices for feeder cattle, complete feeds, concentrates, and nitrogen. Year to year, the received index was down 10% from September 2015 and the paid index was 4% lower. The USDA’s Economic Research Service is projecting the third straight year of lower farm income and the second year in a row of lower input costs.