U.S. farm income declined slightly in January as costs rose, one sign of the inflation currently hitting the ag economy.

The USDA says the index of prices received was down 0.9% as decreases for cattle, hay, lettuce, and lemons canceled out increases in milk, cotton, broilers, and market eggs.

The dairy index for January 2022 was up 11% from December and 38% from January 2021, with the all milk price at $24.20, a gain of $2.40 on the month and $6.70 on the year.

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