Farmers experienced a slight bump in prices during February, according to new data from the U.S. Dept. of Agriculture (USDA), but it wasn’t enough to surpass last year’s figures.
According to the USDA’s Farm Price Index for February, prices rose by 7 percent, but they still lag behind last year’s benchmarks by approximately 5 percent. However, farmers did catch a break with the cost of doing business, as those costs fell about 1.5 percent.
Despite the marginal price increase, farmers remain behind last year’s levels by around 5 percent. This modest improvement reflects a 7 percent rise in prices compared to the previous month—but falls short of offsetting the year-over-year deficit.
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