Michigan farm prices mixed bag in June 2024

By Andi Anderson

In June 2024, Michigan farmers experienced a mixed bag of price changes for various commodities. Corn prices fell to $4.22 per bushel, marking a $0.18 decrease from May and a significant $2.06 drop compared to the previous year.

Soybean prices also declined, settling at $12.30 per bushel, down $0.30 from the prior month and $2.60 from June 2023. Conversely, milk prices saw an increase, reaching $22.90 per hundredweight (cwt.), which is $1.10 higher than in May and up $5.10 from the same month last year.

Nationally, the Prices Received Index for Agricultural Production, with a 2011 base, rose to 126.9 in June, a 2.5 percent increase from May but a slight 0.4 percent decrease from June 2023.

The Crop Production Index was at 107.8, showing a 4.0 percent increase from the previous month but a notable 11 percent decrease from the previous year.

On the other hand, the Livestock Production Index stood at 147.3, reflecting a 3.1 percent rise from May and a 9.6 percent increase from the previous year.

In June, farmers saw higher prices for market eggs, lettuce, strawberries, and broccoli. However, prices for tomatoes, peaches, hay, and broilers decreased.

The volume of commodities marketed also played a role in the indexes, with increased movement in wheat, grapes, hay, and peaches, while there was a decrease in the marketing of strawberries, cattle, market eggs, and broilers.

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