PRODUCER PRICE FORECASTS

Producer price forecasts for farm and wholesale food

USDA ERS Food Price Outlook, August 2026

The producer price index measures prices received by farms and paid at the wholesale stage, before food reaches a shop. The ERS current file carries one row per item per ERS label. Empty cells mean the file publishes no value for that item and year; they are marked as not published and are not estimated here.

The PPI forecast table as published

Producer Price Index item	ERS label	Value
Unprocessed foodstuffs and feedstuffs	Month-to-month July 2026 to August 2026	-2.9%
Unprocessed foodstuffs and feedstuffs	Year-over-year August 2025 to August 2026	-1.5%
Unprocessed foodstuffs and feedstuffs	Year-to-date avg. 2026 to avg. 2025	-0.9%
Unprocessed foodstuffs and feedstuffs	Annual 2024	-3%
Unprocessed foodstuffs and feedstuffs	Annual 2025	4.6%
Unprocessed foodstuffs and feedstuffs	20-year historical average	4%
Unprocessed foodstuffs and feedstuffs	Lower bound of forecast interval 2026	not published
Unprocessed foodstuffs and feedstuffs	Midpoint of forecast interval 2026	not published
Unprocessed foodstuffs and feedstuffs	Upper bound of forecast interval 2026	not published
Unprocessed foodstuffs and feedstuffs	Lower bound of forecast interval 2027	not published
Unprocessed foodstuffs and feedstuffs	Midpoint of forecast interval 2027	not published
Unprocessed foodstuffs and feedstuffs	Upper bound of forecast interval 2027	not published
Processed foods and feeds	Month-to-month July 2026 to August 2026	-0.3%
Processed foods and feeds	Year-over-year August 2025 to August 2026	-1.2%
Processed foods and feeds	Year-to-date avg. 2026 to avg. 2025	-0.8%
Processed foods and feeds	Annual 2024	-0.6%
Processed foods and feeds	Annual 2025	3.8%
Processed foods and feeds	20-year historical average	3.5%
Processed foods and feeds	Lower bound of forecast interval 2026	not published
Processed foods and feeds	Midpoint of forecast interval 2026	not published
Processed foods and feeds	Upper bound of forecast interval 2026	not published
Processed foods and feeds	Lower bound of forecast interval 2027	not published
Processed foods and feeds	Midpoint of forecast interval 2027	not published
Processed foods and feeds	Upper bound of forecast interval 2027	not published
Finished consumer foods	Month-to-month July 2026 to August 2026	-0.1%
Finished consumer foods	Year-over-year August 2025 to August 2026	-0.5%
Finished consumer foods	Year-to-date avg. 2026 to avg. 2025	0.1%
Finished consumer foods	Annual 2024	3.3%
Finished consumer foods	Annual 2025	3.7%
Finished consumer foods	20-year historical average	3.1%
Finished consumer foods	Lower bound of forecast interval 2026	not published
Finished consumer foods	Midpoint of forecast interval 2026	not published
Finished consumer foods	Upper bound of forecast interval 2026	not published
Finished consumer foods	Lower bound of forecast interval 2027	not published
Finished consumer foods	Midpoint of forecast interval 2027	not published
Finished consumer foods	Upper bound of forecast interval 2027	not published
Farm-level cattle	Month-to-month July 2026 to August 2026	-6.4%
Farm-level cattle	Year-over-year August 2025 to August 2026	-3.9%
Farm-level cattle	Year-to-date avg. 2026 to avg. 2025	9.2%
Farm-level cattle	Annual 2024	10.9%
Farm-level cattle	Annual 2025	20.9%
Farm-level cattle	20-year historical average	5.7%
Farm-level cattle	Lower bound of forecast interval 2026	3.8%
Farm-level cattle	Midpoint of forecast interval 2026	7.1%
Farm-level cattle	Upper bound of forecast interval 2026	10.9%
Farm-level cattle	Lower bound of forecast interval 2027	-21.7%
Farm-level cattle	Midpoint of forecast interval 2027	-2.5%
Farm-level cattle	Upper bound of forecast interval 2027	21.3%
Wholesale beef	Month-to-month July 2026 to August 2026	-3%
Wholesale beef	Year-over-year August 2025 to August 2026	3.1%
Wholesale beef	Year-to-date avg. 2026 to avg. 2025	8.8%
Wholesale beef	Annual 2024	5.8%
Wholesale beef	Annual 2025	13.2%
Wholesale beef	20-year historical average	4.8%
Wholesale beef	Lower bound of forecast interval 2026	3%
Wholesale beef	Midpoint of forecast interval 2026	8.5%
Wholesale beef	Upper bound of forecast interval 2026	15%
Wholesale beef	Lower bound of forecast interval 2027	-24.4%
Wholesale beef	Midpoint of forecast interval 2027	-0.4%
Wholesale beef	Upper bound of forecast interval 2027	31.2%
Wholesale pork	Month-to-month July 2026 to August 2026	1.1%
Wholesale pork	Year-over-year August 2025 to August 2026	-13.9%
Wholesale pork	Year-to-date avg. 2026 to avg. 2025	-7.7%
Wholesale pork	Annual 2024	11.8%
Wholesale pork	Annual 2025	5.7%
Wholesale pork	20-year historical average	2.4%
Wholesale pork	Lower bound of forecast interval 2026	-12.8%
Wholesale pork	Midpoint of forecast interval 2026	-9.4%
Wholesale pork	Upper bound of forecast interval 2026	-5.4%
Wholesale pork	Lower bound of forecast interval 2027	-26.2%
Wholesale pork	Midpoint of forecast interval 2027	-4.3%
Wholesale pork	Upper bound of forecast interval 2027	26.1%
Wholesale poultry	Month-to-month July 2026 to August 2026	-2.2%
Wholesale poultry	Year-over-year August 2025 to August 2026	-12.5%
Wholesale poultry	Year-to-date avg. 2026 to avg. 2025	-3.7%
Wholesale poultry	Annual 2024	0%
Wholesale poultry	Annual 2025	3.2%
Wholesale poultry	20-year historical average	2.1%
Wholesale poultry	Lower bound of forecast interval 2026	-7.3%
Wholesale poultry	Midpoint of forecast interval 2026	-4.9%
Wholesale poultry	Upper bound of forecast interval 2026	-2.3%
Wholesale poultry	Lower bound of forecast interval 2027	-19.4%
Wholesale poultry	Midpoint of forecast interval 2027	-2.9%
Wholesale poultry	Upper bound of forecast interval 2027	17.1%
Farm-level eggs	Month-to-month July 2026 to August 2026	49.1%
Farm-level eggs	Year-over-year August 2025 to August 2026	-59.4%
Farm-level eggs	Year-to-date avg. 2026 to avg. 2025	-80.4%
Farm-level eggs	Annual 2024	43.1%
Farm-level eggs	Annual 2025	31.6%
Farm-level eggs	20-year historical average	17.1%
Farm-level eggs	Lower bound of forecast interval 2026	-82.8%
Farm-level eggs	Midpoint of forecast interval 2026	-79.2%
Farm-level eggs	Upper bound of forecast interval 2026	-72.1%
Farm-level eggs	Lower bound of forecast interval 2027	-63.9%
Farm-level eggs	Midpoint of forecast interval 2027	21%
Farm-level eggs	Upper bound of forecast interval 2027	336.2%
Farm-level milk	Month-to-month July 2026 to August 2026	-7.5%
Farm-level milk	Year-over-year August 2025 to August 2026	-10.2%
Farm-level milk	Year-to-date avg. 2026 to avg. 2025	-6.9%
Farm-level milk	Annual 2024	10.4%
Farm-level milk	Annual 2025	-6.3%
Farm-level milk	20-year historical average	3.7%
Farm-level milk	Lower bound of forecast interval 2026	-14.2%
Farm-level milk	Midpoint of forecast interval 2026	-9.4%
Farm-level milk	Upper bound of forecast interval 2026	-3.8%
Farm-level milk	Lower bound of forecast interval 2027	-38.8%
Farm-level milk	Midpoint of forecast interval 2027	-6.7%
Farm-level milk	Upper bound of forecast interval 2027	45.4%
Wholesale dairy	Month-to-month July 2026 to August 2026	-1%
Wholesale dairy	Year-over-year August 2025 to August 2026	-0.7%
Wholesale dairy	Year-to-date avg. 2026 to avg. 2025	-1.1%
Wholesale dairy	Annual 2024	3.2%
Wholesale dairy	Annual 2025	-0.8%
Wholesale dairy	20-year historical average	2.5%
Wholesale dairy	Lower bound of forecast interval 2026	-2.7%
Wholesale dairy	Midpoint of forecast interval 2026	-0.7%
Wholesale dairy	Upper bound of forecast interval 2026	1.4%
Wholesale dairy	Lower bound of forecast interval 2027	-13%
Wholesale dairy	Midpoint of forecast interval 2027	1.2%
Wholesale dairy	Upper bound of forecast interval 2027	18.1%
Farm-level soybeans	Month-to-month July 2026 to August 2026	-2.2%
Farm-level soybeans	Year-over-year August 2025 to August 2026	18.9%
Farm-level soybeans	Year-to-date avg. 2026 to avg. 2025	11.2%
Farm-level soybeans	Annual 2024	-22.4%
Farm-level soybeans	Annual 2025	-6.6%
Farm-level soybeans	20-year historical average	4.6%
Farm-level soybeans	Lower bound of forecast interval 2026	6.4%
Farm-level soybeans	Midpoint of forecast interval 2026	12.4%
Farm-level soybeans	Upper bound of forecast interval 2026	19.5%
Farm-level soybeans	Lower bound of forecast interval 2027	-26.7%
Farm-level soybeans	Midpoint of forecast interval 2027	4%
Farm-level soybeans	Upper bound of forecast interval 2027	48.4%
Wholesale fats and oils	Month-to-month July 2026 to August 2026	2.4%
Wholesale fats and oils	Year-over-year August 2025 to August 2026	21.2%
Wholesale fats and oils	Year-to-date avg. 2026 to avg. 2025	15.8%
Wholesale fats and oils	Annual 2024	-10.3%
Wholesale fats and oils	Annual 2025	0.7%
Wholesale fats and oils	20-year historical average	4.4%
Wholesale fats and oils	Lower bound of forecast interval 2026	16.3%
Wholesale fats and oils	Midpoint of forecast interval 2026	19.2%
Wholesale fats and oils	Upper bound of forecast interval 2026	22.4%
Wholesale fats and oils	Lower bound of forecast interval 2027	-14.9%
Wholesale fats and oils	Midpoint of forecast interval 2027	6.9%
Wholesale fats and oils	Upper bound of forecast interval 2027	34.3%
Farm-level fruits	Month-to-month July 2026 to August 2026	-2.6%
Farm-level fruits	Year-over-year August 2025 to August 2026	7.6%
Farm-level fruits	Year-to-date avg. 2026 to avg. 2025	-4.7%
Farm-level fruits	Annual 2024	-0.7%
Farm-level fruits	Annual 2025	-0.4%
Farm-level fruits	20-year historical average	2.8%
Farm-level fruits	Lower bound of forecast interval 2026	-7.8%
Farm-level fruits	Midpoint of forecast interval 2026	-4.1%
Farm-level fruits	Upper bound of forecast interval 2026	0%
Farm-level fruits	Lower bound of forecast interval 2027	-12.9%
Farm-level fruits	Midpoint of forecast interval 2027	0.8%
Farm-level fruits	Upper bound of forecast interval 2027	16.8%
Farm-level vegetables	Month-to-month July 2026 to August 2026	-2.7%
Farm-level vegetables	Year-over-year August 2025 to August 2026	-7.3%
Farm-level vegetables	Year-to-date avg. 2026 to avg. 2025	20.4%
Farm-level vegetables	Annual 2024	-0.3%
Farm-level vegetables	Annual 2025	-9%
Farm-level vegetables	20-year historical average	4.3%
Farm-level vegetables	Lower bound of forecast interval 2026	7.7%
Farm-level vegetables	Midpoint of forecast interval 2026	16%
Farm-level vegetables	Upper bound of forecast interval 2026	26.8%
Farm-level vegetables	Lower bound of forecast interval 2027	-27.9%
Farm-level vegetables	Midpoint of forecast interval 2027	-5.4%
Farm-level vegetables	Upper bound of forecast interval 2027	24.9%
Farm-level wheat	Month-to-month July 2026 to August 2026	2.4%
Farm-level wheat	Year-over-year August 2025 to August 2026	35.1%
Farm-level wheat	Year-to-date avg. 2026 to avg. 2025	13.9%
Farm-level wheat	Annual 2024	-22.3%
Farm-level wheat	Annual 2025	-10.9%
Farm-level wheat	20-year historical average	4.6%
Farm-level wheat	Lower bound of forecast interval 2026	11.4%
Farm-level wheat	Midpoint of forecast interval 2026	18.3%
Farm-level wheat	Upper bound of forecast interval 2026	26.9%
Farm-level wheat	Lower bound of forecast interval 2027	-26.5%
Farm-level wheat	Midpoint of forecast interval 2027	7.1%
Farm-level wheat	Upper bound of forecast interval 2027	58.7%
Wholesale wheat flour	Month-to-month July 2026 to August 2026	1.5%
Wholesale wheat flour	Year-over-year August 2025 to August 2026	5.7%
Wholesale wheat flour	Year-to-date avg. 2026 to avg. 2025	1.5%
Wholesale wheat flour	Annual 2024	-6.8%
Wholesale wheat flour	Annual 2025	-4.4%
Wholesale wheat flour	20-year historical average	3.9%
Wholesale wheat flour	Lower bound of forecast interval 2026	0%
Wholesale wheat flour	Midpoint of forecast interval 2026	2.5%
Wholesale wheat flour	Upper bound of forecast interval 2026	5.1%
Wholesale wheat flour	Lower bound of forecast interval 2027	-15.1%
Wholesale wheat flour	Midpoint of forecast interval 2027	-1.2%
Wholesale wheat flour	Upper bound of forecast interval 2027	15.7%

Track record: past producer price forecasts against final values

For each item with a final annual figure in the data, the forecast ERS made in the first month available for that year and the final published value.

Farm-level cattle

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	5 to 6	22.8
2015	July 2014	4 to 5	-2.2
2016	July 2015	1 to 2	-19.4
2017	July 2016	0 to 1	-1.7
2018	July 2017	0 to 1	-3.6
2019	July 2018	-0.5 to 0.5	-0.8
2020	July 2019	-1 to 0	-4.9
2021	July 2020	1 to 3	11.3
2022	July 2021	2 to 5	18.1
2023	July 2022	2 to 5	22
2024	July 2023	4.6	10.9

Wholesale beef

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	1.5 to 2.5	19.1
2015	July 2014	3 to 4	2.9
2016	July 2015	2 to 3	-16.7
2017	July 2016	-2 to -1	-0.7
2018	July 2017	-3 to -2	1.7
2019	July 2018	1 to 2	2
2020	July 2019	-0.5 to 0.5	2.1
2021	July 2020	-7.5 to -4.5	25.8
2022	July 2021	-1 to 2	-5.2
2023	July 2022	3 to 6	13.5
2024	July 2023	0.1	5.8

Wholesale pork

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	5.5 to 6.5	19.6
2015	July 2014	4 to 5	-23.6
2016	July 2015	0 to 1	-2.1
2017	July 2016	0 to 1	3.2
2018	July 2017	2.5 to 3.5	-6.3
2019	July 2018	-0.25 to 0.75	4.6
2020	July 2019	0 to 1	2.2
2021	July 2020	-1 to 2	15.9
2022	July 2021	1 to 4	-2.2
2023	July 2022	1 to 4	-3.7
2024	July 2023	-1.3	11.8

Wholesale poultry

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	2 to 3	4.3
2015	July 2014	1.5 to 2.5	-1.6
2016	July 2015	1 to 2	-3.6
2017	July 2016	1 to 2	0.7
2018	July 2017	2 to 3	-6.8
2019	July 2018	-1.5 to -0.5	1.5
2020	July 2019	-1 to 0	-0.4
2021	July 2020	-1 to 2	20.4
2022	July 2021	2 to 5	17.3
2023	July 2022	6 to 9	-18
2024	July 2023	-1.6	0

Farm-level eggs

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	0.5 to 1.5	17.8
2015	July 2014	0 to 1	31.9
2016	July 2015	10 to 11	-59.1
2017	July 2016	-10 to -9	23.6
2018	July 2017	2 to 3	33.2
2019	July 2018	-9 to -8	-34
2020	July 2019	-37 to -36	11
2021	July 2020	-15 to -12	17.1
2022	July 2021	2 to 5	163.1
2023	July 2022	-37 to -34	-28.3
2024	July 2023	-29.7	43.1

Farm-level milk

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	0 to 1	19.8
2015	July 2014	0 to 1	-28.7
2016	July 2015	1.5 to 2.5	-3
2017	July 2016	-0.5 to 0.5	8.6
2018	July 2017	-1 to 0	-8.3
2019	July 2018	3.5 to 4.5	15
2020	July 2019	5 to 6	-1.5
2021	July 2020	-8 to -5	2
2022	July 2021	0 to 3	36.7
2023	July 2022	0 to 3	-19.9
2024	July 2023	-8.5	10.4

Wholesale dairy

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-1 to 0	11
2015	July 2014	1 to 2	-12.7
2016	July 2015	1 to 2	-1.7
2017	July 2016	1 to 2	3.4
2018	July 2017	-2 to -1	-2.3
2019	July 2018	-1 to 0	4.7
2020	July 2019	3 to 4	0.5
2021	July 2020	-5 to -2	1.9
2022	July 2021	1 to 4	18.3
2023	July 2022	1 to 4	-6.1
2024	July 2023	-2.3	3.2

Farm-level soybeans

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-11 to -10	-12.4
2015	July 2014	-4 to -3	-24.7
2016	July 2015	0 to 1	2.9
2017	July 2016	4 to 5	-2.3
2018	July 2017	3.5 to 4.5	-4.8
2019	July 2018	0.25 to 1.25	-5.5
2020	July 2019	-5 to -4	10.2
2021	July 2020	0 to 3	47.2
2022	July 2021	-1.5 to 1.5	11.2
2023	July 2022	2 to 5	-8.3
2024	July 2023	-3.7	-22.4

Wholesale fats and oils

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-5 to -4	-6.6
2015	July 2014	1 to 2	-5.6
2016	July 2015	1 to 2	-0.8
2017	July 2016	1.5 to 2.5	4.1
2018	July 2017	-2 to -1	-2.6
2019	July 2018	-3 to -2	-4.3
2020	July 2019	-4.5 to -3.5	2.6
2021	July 2020	-1.5 to 1.5	40.2
2022	July 2021	2 to 5	26.1
2023	July 2022	4 to 7	-16.3
2024	July 2023	-18.4	-10.3

Farm-level vegetables

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-4 to -3	-1.9
2015	July 2014	0 to 1	3.2
2016	July 2015	1 to 2	1
2017	July 2016	-7 to -6	6.4
2018	July 2017	-8 to -7	-1.7
2019	July 2018	-3.5 to -2.5	13
2020	July 2019	13 to 14	2
2021	July 2020	-0.5 to 0.5	-6.5
2022	July 2021	2 to 5	51.4
2023	July 2022	-1.5 to 1.5	-12.1
2024	July 2023	0.7	-0.3

Farm-level wheat

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-8 to -7	-6.7
2015	July 2014	-0.5 to 0.5	-19.6
2016	July 2015	6 to 7	-20.4
2017	July 2016	10 to 11	7.8
2018	July 2017	10 to 11	14.2
2019	July 2018	10 to 11	-8
2020	July 2019	-5 to -4	7.5
2021	July 2020	4 to 7	44.5
2022	July 2021	1 to 4	31
2023	July 2022	3 to 6	-23.1
2024	July 2023	-2.8	-22.3

Wholesale wheat flour

Year	First forecast available	Forecast (%)	Final (%)
2014	September 2013	-10 to -9	1.8
2015	July 2014	0 to 1	-10
2016	July 2015	3 to 4	-7.3
2017	July 2016	-2 to -1	1.7
2018	July 2017	-3 to -2	0.9
2019	July 2018	-4 to -3	-2.2
2020	July 2019	-2 to -1	1.4
2021	July 2020	-1.5 to 1.5	19.3
2022	July 2021	0 to 3	23.3
2023	July 2022	3 to 6	-5.8
2024	July 2023	-2.3	-6.8

Source records: changes-in-producer-price-indexes-2024-through-2027, producer-price-index-ppi-forecasts-previously-published-estimates, from the USDA Economic Research Service Food Price Outlook. Figures cover August 2026. Data fetched 2026-09-28.