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May Farm Prices Received Index Declined Two Points

4 June 2012, at 1:44pm

US - The preliminary All Farm Products Index of Prices Received by Farmers in May, at 176 per cent, based on 1990-1992=100, decreased 2 points (1.1 per cent) from April.

The Crop Index is down 3 points (1.4 per cent) and the Livestock Index decreased 1 point (0.7 per cent). Producers received lower prices for cattle, corn, milk, and wheat.

Higher prices were received for broilers, grapefruit, hay, and oranges. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell.

Increased monthly movement of broilers, sweet corn, wheat, and grapes offset the decreased marketing of corn, cattle, milk, and soybeans.

The preliminary All Farm Products Index is up 1 point (0.6 per cent) from May 2011. The Food Commodities Index, at 164, decreased 1 point (0.6 per cent) from last month and decreased 1 point (0.6 per cent) from May 2011.

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June 2012