By Andi Anderson
The Great Lakes Region of the U.S. Department of Agriculture's National Agricultural Statistics Service has unveiled the agricultural prices for Indiana in August. Here are some of the notable highlights:
- Corn: In August, the price per bushel for corn stood at $5.79, marking a decrease of $0.35 from July and a $1.51 drop from the previous year (2022).
- Soybeans: August saw soybean prices at $14.50 per bushel, reflecting a decrease of $0.60 compared to the previous month and a $0.90 decrease from 2022.
- Wheat: Wheat prices in August were recorded at $6.23 per bushel, showing a decrease of $0.22 from July and a $1.48 decrease from the prior year (2022).
- Milk: August witnessed milk prices at $19.70 per hundredweight (cwt.), indicating an increase of $1.40 from the previous month but a $5.10 decrease from 2022.
Nationally, the August Prices Received Index 2011 Base for agricultural production reached 125.4, signifying a 0.3% increase from July but a 4.5% decrease from August 2022. The Crop Production Index, at 117.4, experienced a 1.6% decline compared to the previous month and an 8.3% decrease from 2022. The Livestock Production Index reached 134.3, showing a 1.4% increase from July but a 0.4% decrease from August 2020.
In August, producers benefited from higher prices for commodities such as milk, market eggs, strawberries, and cattle. However, prices for corn, broilers, soybeans, and celery were lower during this period. Additionally, changes in the volume of commodities marketed influenced the indexes. In August, there was an increase in the monthly movement of cattle, grapes, hogs, and broilers, while marketing of wheat, corn, soybeans, and strawberries decreased.
These insights into agricultural prices are crucial for both farmers and policymakers as they navigate the dynamic agricultural landscape.
Photo Credit: gettyimages-laughingmango
Categories: Indiana, Government & Policy