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USDA Agricultural Prices Report

 12/02/2022

The USDA Agricultural Prices Report posted November 30th, reflecting October 2022 documented prices received for agricultural commodities and related expenditures.  The Index of 127 for prices received was 2.7 percent lower than September but was up 20 percent from October 2021.  The Index for prices paid (production expenditures) was 137.0 percent, indicating the impact of inflation. This Index was up 0.3 percent from September and up 12 percent from October 2021.  The ratio of prices received to prices paid was 93 percent in October compared to 96 percent in September 2022 and 87 percent in October 2021.

 

The USDA Economic Research Service compiled prices received and paid, as follows:

 

  • The October Prices Received Index (based on agricultural production in 2011 at 89.0) increased 0.4 percent from September to a value of 137.0.  This was 14.4 percent higher than October 2021. 

 

  • The Crop Production component of the Prices Received Index was down 5.1 percent from last month and up 15.7 percent from October 2021.

 

  • The Livestock Production component of the Prices Received Index at 138.9, rose 2.5 percent from September but increased 31.1 percent from October 2021.

 

  • The Food Commodities component of the Prices Received Index fell 1.6 percent from September 2022 to 133.8 in October but was 22.2 percent higher than in October 2021.

 

  • The October All Prices Paid Index (Commodities and Services, Interest, Taxes and Farm Wage Rates) at 137 was 0.4 percent up from September 2022 and 14.4 percent higher than in October 2022.

 

  • In the Livestock component of the All Prices Paid Index, the October value was 0.2 percent higher than September at 137.5 and 15.0 percent higher than in October 2021.

  • Corn farmers received $6.50 per bushel in October 2022 compared to $5.38 per bushel in October 2021, up 38.8 percent.

 

  • Soybean farmers received $13.50 per bushel in October 2020 compared to $11.90 per bushel in October 2021, up 13.5 percent.

 

  • Adjusted for seasonal variation, egg farmers received $3.17 per dozen in October 2022, up $0.37 from September 2022 but higher by $2.15 (211 percent) compared to October 2021.