U.S. farmers made fractionally less in July than June, while paying slightly more. That is due to a combination of factors, including commodity prices, seasonal shifts in marketings, inflation, and input costs.
The USDA says the index of prices received was 0.01% lower than last month as declines in corn, soybeans, wheat, and broilers canceled out rises for cattle, hogs, hay, and market eggs.
The dairy index was unchanged from June and 51% above July 2021, with an all milk price of $25.70 per hundredweight, $1.20 less than a month ago, but $7.90 more than a year ago.
