Index: Farm Prices & Expenses Are Up

The preliminary All Farm Products Index of Prices Received by Farmers in June increased 7.3% from May, Brownfield reports. The crop index was 11% higher while the livestock index was 2.2% higher.  Producers received higher prices for corn, soybeans, milk and lettuce, lower prices for wheat, strawberries and cantaloupes. Compared to a year ago, the index is up 18%.

In June, the average corn price was $6.12 per bushel, up 84 cents from May and $2.59 above a year ago.  Soybeans averaged $13.50 per bushel, $1.40 above May and $5.99 more than June of 2007.  The average all wheat price was $8.28 per bushel in June, 59 cents lower than May but $3.25 above June of last year.  All hay averaged $161 per ton, down $5.00 from May but up $30.00 from a year ago.

The June Index of Prices Paid by Farmers is 1.6% above May.  Farmers paid more for diesel fuel, fertilizer, feed grains and con-centrates.  Prices were lower for hay, forages and feeder pigs.  Compared to June 2007, prices paid by farmers are up 17%.