Producers make less, pay more in January

U.S. farm income declined slightly in January as costs rose, one sign of the inflation currently hitting the ag economy.

The USDA says the index of prices received was down 0.9% as decreases for cattle, hay, lettuce, and lemons canceled out increases in milk, cotton, broilers, and market eggs.

The dairy index for January 2022 was up 11% from December and 38% from January 2021, with the all milk price at $24.20, a gain of $2.40 on the month and $6.70 on the year.

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