To the relief of livestock producers, prices for feed grains and hay have eased somewhat recently while prices for most livestock and animal products have increased. This month’s Agricultural Prices report from USDA, released August 30, shows the preliminary All Farm Products Index of Prices Received by Farmers in August declined 12 points, or 6 percent, from July.
The August index stands at 188 percent, using a baseline of 100 percent for 1990 to 1992. That same index is down 5 points, or 2.6 percent, from August 2012.
The August Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates is 221 percent of the 1990 to 1992 average. The index is up 1 point from July and 5 points above August 2012. Higher prices in August for concentrates, feeder cattle, LP gas, and complete feeds offset lower prices for nitrogen, feed grains, hay & forages, and potash & phosphate.