USDA Releases Monthly Agricultural Prices Report
October 4, 2010
USDA Releases Monthly Agricultural Prices Report
USDA’s monthly Agricultural Prices report was issued Wednesday. September’s preliminary all-milk price is $17.20, up 50¢ from the revised August number and up $4.20 from September 2009. This is the highest all-milk price in nearly two years, and October and November prices are projected even higher.
September corn prices were up, soybeans were down modestly, and alfalfa was unchanged. Farmers received an estimated $4.34/bu. for corn in September, 69¢ higher than August’s revised number and $1.09 higher than September 2009. Farmers received an estimated $9.94/bu. for soybeans, 16¢ lower than August’s revised number, but 19¢ higher than September 2009. Finally, farmers received an estimated $111/ton for alfalfa, even with August’s revised number, but up $6 from September 2009.
Futures markets project milk prices to fall early in 2011, while feed prices are expected to rise through the spring, tightening margins for dairy producers.
