The U.S. Department of Agriculture on Monday, August 31, 2009, released a report that confirmed the suspicions of many actively engaged in agricultural production—prices for farm goods dropped in August by 3.8 percent.Feed grains like wheat saw prices drop 6.9 percent during the month. This is a 37 percent decrease from August of 2008. Feed grains like corn dropped 6 percent during the month. These grains are down 35 percent from a year ago.
Hogs, cattle, and poultry all contributed to the 2 percent decline in meat prices. While dairy prices actually rose 3 percent over the month, dairy prices are still 36 percent less than what they were one year ago. Commercial vegetables also saw an increase in prices, to the tune of 5 percent for the month, and an 8 percent increase compared to a year ago. Broccoli, carrots, tomatoes, and cucumbers all experienced price increases.
To read a brief story on the price drop from the Associated Press on the Forbes.com website click here.
Posted: 09/01/09
