THE USDA Agricultural Prices Report released December 30th 2022 posted November prices for agricultural commodities and expenditures.
The USDA ERS detailed prices as follows:-
“The November Prices Received Index (2011 as a base) for Agricultural Production was 133.4, an increase of 4.5 percent from October 2022 and 23 percent from November 2021. At 127.1, the Crop Production Index was up 4.3 percent from last month and 19 percent from the previous year. The Livestock Production Index, at 143.4, increased 3.2 percent from October and 30 percent from November last year. Producers received higher prices during November for lettuce, soybeans, market eggs and cattle but lower prices for hogs, hay, milk, and cotton. In addition to prices, the volume change of commodities marketed also influences the indexes. In November, there was increased monthly movement for corn, milk, cattle, and cotton and decreased marketing of soybeans, grapes, lettuce, and wheat.”
“The November Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 137.1, was unchanged from October 2022 but up 11 percent from November 2021. Higher prices for feeder cattle, feeder pigs, concentrates, and nitrogen offset lower prices for other services, hay and forages, complete feeds, and other machinery”.
Corn farmers received $6.49 per bushel in November 2022 compared to $5.26 per bushel in November 2021, up 23.4 percent.
Soybean farmers received $14.00 per bushel in November 2022 compared to $12.10 per bushel in November 2021, up 15.7 percent.
Broiler integrators were assigned a live bird transfer price of 71.4 cents per live lb. in November 2022 compared to 59.2 cents per live lb. in November 2021, up 20.6 percent. Due to integration there are effectively no independent farmers selling live broilers other than a fractional proportion of total production destined for urban wet markets.
Turkey integrators were assigned a live bird transfer price of $1.26 per live lb. in November 2022 compared to $0.84 per live lb. in November 2021, up 20.6 percent. Due to integration there are effectively no independent farmers selling live turkeys other than a fractional proportion of total production destined for specialty “heritage” markets.