May Ag Prices Received Index Up 0.9 Percent; Prices Paid Index Down 0.2 Percent

May Prices Received Index Up 0.9 Percent  

The May Prices Received Index 2011 Base (Agricultural Production), at 123.6, increased 0.9 percent from April but decreased 2.7 percent from May 2023. At 103.2, the Crop Production Index was up 1.8 percent from last month but down 15 percent from the previous year. The Livestock Production Index, at 143.0, increased 0.3 percent from April and 7.5 percent from May last year. Producers received higher prices during May for milk, corn, oranges, and cattle but lower prices for market eggs, strawberries, onions, and broccoli. In addition to prices, the volume change of commodities marketed also influences the indexes. In May, there was increased monthly movement for cattle, hay, broilers, and lettuce and decreased marketing of soybeans, calves, hogs, and apples.  

May Prices Paid Index Down 0.2 Percent  

The May Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 139.9, is down 0.2 percent from April 2024 and 0.2 percent from May 2023. Lower prices in May for feeder pigs, diesel, LP gas, and potash & phosphate more than offset higher prices for hay & forages, concentrates, feeder cattle, and mixed fertilizer.