By Andi Anderson
Indiana's December 2024 farm prices revealed fluctuations across key agricultural commodities. According to recent reports, corn prices rose, while soybean and milk prices dropped.
The price of corn in December reached $4.32 per bushel, marking an increase of $0.31 from November but a $0.42 drop compared to last year. Soybeans were priced at $10.10 per bushel, decreasing by $0.10 from November and $3.30 from the previous year.
Wheat prices increased to $5.98 per bushel, up by $0.69 from the prior month but down $0.58 from last year. Milk prices stood at $24.90 per cwt., a decline of $0.70 from November but a $3.00 increase from the previous year.
On a national scale, the December Prices Received Index (Agricultural Production) rose to 126.5, reflecting a 5.3% increase from November and a 12% rise from December 2023. The Crop Production Index, however, declined by 1.8% from last month and 8.7% from the previous year, while the Livestock Production Index climbed 8.3% from November and 33% from last December.
Higher prices in December were seen for market eggs, corn, broilers, and calves, whereas lettuce, milk, hogs, and broccoli saw declines.
Changes in commodity volume also impacted these indexes. There was an increase in the movement of market eggs, broilers, milk, and oranges, while corn, grapes, soybeans, and calves saw decreased marketing.
These trends highlight the ongoing market shifts in Indiana and across the nation, impacting both crop and livestock producers. Understanding these price changes helps farmers make informed decisions for the coming season.
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Categories: Indiana, General