Source: Agriculture export prices mean lower income for farmers

1 year 4 months 1 week ago February 13, 2016 Feb 13, 2016 Saturday, February 13 2016 Saturday, February 13, 2016 2:42:00 AM CST in News
By: Michael Lindquist, KOMU 8 Reporter

COLUMBIA - A report on U.S. import and export prices reveals the price of agricultural exports has declined for the third consecutive month.

The report published by the U.S. Department of Labor states the price of agriculture exports declined by 1.1 percent in January. Exports in this industry saw a 1 percent decline in December and a 0.9 percent decline in November. 

The overall price of U.S. exports fell in January for the second consecutive month by 0.8 percent. Over the past year, export prices fell by 5.7 percent.

MU Economics professor Joe Haslag said the could mean bad news for mid-Missouri farmers.

"In this case, the primary cause is the decline in agricultural prices," Haslag said. "With Missouri being dependent on ag prices, the export price is not so good, meaning that farm income is lower."

The price of U.S. imports also declined by 1.1 percent. Over the past year, imports declined 6.2 percent. The report credits the low price of fuel for causing the price to drop. 

"Import prices are falling, especially fuel," Haslag said. "This is the benefit of the strong dollar, foreign goods are cheaper."

He said the drops in prices are no cause for alarm because the prices of import and exports fluctuate and is a "good thing" for the economy.

Oil prices jumped 12 percent Friday, which MU Professor of Finance Journalism Martha Steffens said will likely cause imports to get more expensive over time if the price stays up.

More News

Grid
List
BOONVILLE – Residents gathered on Saturday for the 28th Annual Boonville Heritage Days. About 100 members of the community... More >>
58 minutes ago June 24, 2017 Jun 24, 2017 Saturday, June 24 2017 Saturday, June 24, 2017 4:38:00 AM CDT in News
COLUMBIA - Police are warning residents about a phone scam. The Columbia Police Department said it has received multiple... More >>
1 hour ago June 24, 2017 Jun 24, 2017 Saturday, June 24 2017 Saturday, June 24, 2017 3:52:00 AM CDT in News
COLUMBIA - MUPD officers gave the "all clear" late Friday night after authorities said they did not find an explosive... More >>
2 hours ago June 24, 2017 Jun 24, 2017 Saturday, June 24 2017 Saturday, June 24, 2017 3:01:00 AM CDT in News
MONITEAU COUNTY - The Moniteau County sheriff denied accusations of the jail being in poor condition following posts on social... More >>
9 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 7:48:00 PM CDT in Top Stories
JEFFERSON CITY - A Missouri non-profit organization is raising money for veterans in its own unique way, bull riding. ... More >>
10 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 7:34:00 PM CDT in Top Stories
COLUMBIA- Rep. Chuck Basye, R-Rocheport and Sen. Caleb Rowden, R- Columbia met with dozens of Mid-Missouri parents and children to... More >>
10 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 7:12:00 PM CDT in Top Stories
COLUMBIA - After residents said they did not want a roundabout, the Columbia Public Works Department has come up with... More >>
10 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 7:05:00 PM CDT in News
COLUMBIA - More than 200 requests have come in so far in just the twenty-four hours after MU leadership announced... More >>
12 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 5:13:00 PM CDT in News
COLUMBIA - Pollen is not the only allergen that arrives with the warm summer weather. A specific type of tick... More >>
13 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 4:36:00 PM CDT in News
ST. LOUIS (AP) — A former St. Louis County sheriff's deputy faces up to a decade in federal prison now... More >>
13 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 4:19:00 PM CDT in News
MONITEAU COUNTY - One person was taken into custody after the Moniteau County Sheriff's Office and the Mid-Missouri Drug Task... More >>
13 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 4:01:00 PM CDT in News
COLUMBIA - The Columbia city council is considering new regulations on payday loan companies and money lending businesses. The... More >>
13 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 3:49:00 PM CDT in News
COLUMBIA - Columbia College will be giving high school students a chance to earn college credits. The two dual credit... More >>
14 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 2:43:00 PM CDT in News
JEFFERSON CITY- The Missouri State Highway Patrol celebrated the graduation of 27 troopers in Jefferson City on Friday morning. ... More >>
15 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 2:31:00 PM CDT in News
MONITEAU COUNTY - A man was taken into custody after the Moniteau County Sheriff's Office and Mid-Missouri Drug Task Force... More >>
15 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 1:39:00 PM CDT in News
COLUMBIA – Four summer interns work with the city of Columbia to rate the conditions of roads and determine which... More >>
16 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 1:33:00 PM CDT in News
MONITEAU COUNTY - The Missouri State Highway Patrol is investigating a deadly crash north of Tipton on Wednesday. According... More >>
16 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 12:40:00 PM CDT in News
COLUMBIA - Columbia Police responded to an armed robbery Thursday night at Cirilla's on Bukner Street. According to investigators,... More >>
20 hours ago June 23, 2017 Jun 23, 2017 Friday, June 23 2017 Friday, June 23, 2017 9:22:00 AM CDT in News
Columbia, MO
Broken Clouds 59°
6am 58°
7am 60°
8am 64°
9am 68°

Select a station to view its upcoming schedule:

Coming Up Next

5:00a
Paid Program
5:30a
On the Money
6:00a
KOMU 8 News Today
5:00a
Paid Program
5:30a
Paid Program
6:00a
Paid Program

Tonight's Schedule

7:00p
Nitro Circus
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld