The USDA’s ag prices indices moved higher in December.
The index of prices received by farmers was up 5.3% from November thanks to gains in corn, calves, market eggs, and broilers against losses in hogs, milk, lettuce, and broccoli.
The dairy index for December 2024 was down 3.7% from November, but up 14% from December 2023, with an all milk price of $23.30 per hundredweight, $.90 lower than the previous month, but $2.90 higher than the year before.
The index of prices paid was up 0.7% on increased costs for feeder cattle, feeder pigs, feed grains, and complete feeds against decreases in cost for hay & forages, diesel, gasoline, and concentrates.
Year-to-year, the index of prices received was 12% higher and the index of prices received was up 1.5%, but while there has been an improvement in some farmers and ranchers’ bottom lines, the ratio of prices received to prices paid remained in the red at the end of last year.
