Prices received by Michigan farmers for the full month of May 2015 are listed in the table below.
Some Michigan highlights were: May corn, at $3.59 per bushel, decreased $0.19 from April and decreased $1.05 from last year; May soybeans, at $9.61 per bushel, decreased $0.39 from last month and decreased $5.29 from last year; May wheat, at $5.89 per bushel, decreased $0.29 from April and decreased $1.04 from last year; May milk, at $16.00 per cwt., decreased $0.20 from last month, and decreased $8.50 from last year.
The May Prices Received Index (Agricultural Production), at 107, increased 3.9 percent from April. At 90, the Crop Production Index advanced 1.1 percent. The Livestock Production Index increased 5.2 percent to 122. Producers received higher prices for eggs, hogs, and broilers. Lower prices were realized for cattle, corn, and tomatoes. In addition to prices, the indexes are impacted by the five-year average monthly mix of commodities producers market. Increased monthly movement of cattle, hay, sweet corn, and broilers offset the decreased marketing of soybeans, calves, hogs, and apples.
The Prices Received Index is down 7.0 percent from the previous year. The Food Commodities Index, at 115, is up 3.6 percent from the previous month but is 8.0 percent lower than May 2014.