May Agriculture Prices Received Index Down 2.8 Percent, Prices Paid Down .06 Percent

May Prices Received Index Down 2.8 Percent 

The May Prices Received Index 2011 Base (Agricultural Production), at 127.1, decreased 2.8 percent from April and 5.6 percent from May 2022. At 120.4, the Crop Production Index was down 4.1 percent from last month and 2.4 percent from the previous year. The Livestock Production Index, at 133.7, decreased 1.5 percent from April and 8.2 percent from May last year. Producers received lower prices during May for strawberries, lettuce, market eggs, and milk but higher prices for oranges, celery, cattle, and broilers. In addition to prices, the volume change of commodities marketed also influences the indexes. In May, there was decreased marketing of soybeans, apples, calves, and hogs and increased monthly movement for cattle, hay, broilers, and corn. 

May Prices Paid Index Down 0.6 Percent 

The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 138.9, is down 0.6 percent from April 2023 but up 0.9 percent from May 2022. Lower prices in May for nitrogen, feeder pigs, complete feeds, LP gas more than offset higher prices for feeder cattle, other machinery, repairs, and supplies.