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.
Related Stories
Despite volatile cattle and hog markets, many producers continue to avoid futures and options.
NCBA President-elect Kim Brackett discusses why succession planning is essential for farm and ranch families and how a new free resource can help producers plan for the next generation.
Dr. Faith Parum discusses fertilizer market conditions, Farm Bureau’s new strategic fertilizer report, and policy options to strengthen the U.S. fertilizer supply chain.
USDA Under Secretary for Trade Luke Lindberg discusses the Port of Seattle’s role in ag exports, meetings with Washington producers, and the administration’s priorities for trade and expanding export opportunities.
USDA Cattle on Feed report for July shows fewer cattle entering feedlots and inventories remaining below last year as ongoing supply constraints continue to support the cattle market.
Analysts say both crop conditions and geopolitical risks are influencing market sentiment.
