NASHVILLE, TN – The U.S. Department of Agriculture has released its monthly agricultural prices report for May. The overall Prices Received Index was up 1.7 percent from April and 13 percent higher than the same month a year ago.
The Crop Production Index rose 2.3 percent month-over-month but remains 0.9 percent lower than in May of last year. Meanwhile, the Livestock Production Index climbed 1.4 percent from April and showed a substantial year-over-year gain, up 20 percent from May 2024.
USDA reports that producers received higher prices in May for cattle, hogs, oranges, and milk. However, prices were lower for market eggs, lettuce, strawberries, and broilers.
The monthly report also accounts for marketing volume, which can influence index movement. In May, USDA recorded increased marketings of cattle, hay, broilers, and sweet corn. At the same time, marketing volume declined for soybeans, calves, hogs, and apples.
On the input side, the Prices Paid Index—which reflects costs for commodities, services, taxes, interest, and farm wages—was up 0.4 percent from April and 6.4 percent above last May.
Higher prices were recorded for feeder cattle, hay and forages, nitrogen fertilizer, and general farm services. Those increases offset price drops for feeder pigs, LP gas, self-propelled machinery, and complete feeds.
