Farm-level prices have declined from recent highs

Chart of prices received by farmers

Although prices for agricultural commodities frequently vary from year to year, they have generally moved higher since 2000. In these aggregate measures, inflation adjusted prices for crops were up more than 38 percent above their 2005 levels, while those for livestock rose over 29 percent from 2006 to 2018. Prices for both crops and livestock have fallen since 2014, however, as U.S. and global markets responded to higher prices by increasing production.

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