May Ag Prices Received Index Up 0.5 Percent, Prices Paid Up 0.6 Percent

May Prices Received Index Up 0.5 Percent   

The May Prices Received Index 2011 Base (Agricultural Production), at 134.6, increased 0.5 percent from April and 27 percent from May 2021. At 123.0, the Crop Production Index was up 0.3 percent from last month and 16 percent from the previous year. The Livestock Production Index, at 146.0, increased 0.6 percent from April, and 37 percent from May of last year. Producers received higher prices during May for broilers, corn, oranges, and cattle but lower prices for market eggs, cotton, lettuce, and strawberries. In addition to prices, the volume change of commodities marketed also influences the indexes. In May, there was increased monthly movement for cattle, broilers, hay, and corn and decreased marketing of soybeans, apples, hogs, and calves.    

May Prices Paid Index Up 0.6 Percent   

The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 134.9, is up 0.6 percent from April 2022 and 15 percent from May 2021. Higher prices in May for nitrogen, other services, diesel, and complete feeds more than offset lower prices for feeder pigs, feeder cattle, concentrates, and LP gas.