The overall preliminary November price index for agricultural products increased by two points over October, but compared with a year ago, price trends have favored livestock producers over crop farmers.
The overall November index for prices received by farmers stands at 101, using a baseline of 100 in 2011, according to the USDA’s Agricultural Prices report. That compares with 99 for October 2014 and 99 for November 2013.
The November index for prices paid by farmers for commodities, services and other business expenses, at 110, compared with 111 a month ago and 106 a year ago. The ratio of prices received to prices paid by farmers, at 92 for November, improved from 89 in October but is down slightly from 93 a year ago.
The November index for meat-animal production is, at 139, is down 1.4 percent from last month but 26 percent higher than last year. The November fed steer and heifer price of $168 per hundredweight is up $5.00 from last month and $36.00 higher than November 2013. Calf prices, according to the report, averaged $304 per hundredweight for November, down from $307 in October but up $112 from $192 per hundredweight a year ago.
The November hog price, at $66.70 per hundredweight, is down $10.30 from October but $3.10 higher than a year ago.
The November 2014 dairy index, at 116, is down 6.5 percent from October but 8.4 percent higher than November last year. The November all milk price of $23.40 per cwt is down $1.50 from last month but up $1.80 from November 2013.
The November average corn price, at $3.57 per bushel, was up only slightly from $3.56 in October and well below the average of $4.37 a year ago and $6.02 in 2011.
View the full Agricultural Prices report from USDA.