USDA Agricultural Prices
01 March 2012
February Farm Prices Received Index Declined 8 Points
The preliminary All Farm Products Index of Prices Received by Farmers in February, at 180 percent, based on 1990-1992=100, decreased 8 points (4.3 percent) from January. The Crop Index is down 8 points (3.8 percent) but the Livestock Index increased 1 point (0.6 percent). Producers received lower prices for milk, strawberries, celery, and lettuce and higher prices for soybeans, corn, broilers, and hogs. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly movement of cattle, milk, broilers, and hogs offset the decreased marketing of corn, soybeans, wheat, and cotton.
The preliminary All Farm Products Index is up 9 points (5.3 percent) from February 2011. The Food Commodities Index, at 167, decreased 5 points (2.9 percent) from last month but increased 4 points (2.5 percent) from February 2011.
Prices Paid Index Up 1 Point
The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 209 percent of the 1990-1992 average. The index is up 1 point (0.5 percent) from January and 12 points (6.1 percent) above February 2011. Higher prices in February for feeder cattle, diesel, concentrates, and gasoline offset lower prices for supplements, LP gas, potash & phosphate, and other machinery.
Prices Received, Prices Paid, and Ratio of Prices Received to Prices Paid Indexes 1990-1992 Base – United States: February 2012 with Comparisons
Prices Received by Farmers
The February All Farm Products Index is 180 percent of its 1990-1992 base, down 4.3 percent from the January index but 5.3 percent above the February 2011 index.
All crops: The February index, at 204, decreased 3.8 percent from January but is 2.0 percent above February 2011. Index decreases for commercial vegetables, food grains, and potatoes & dry beans more than offset the index increases for oilseeds, feed grains & hay, upland cotton, and fruits & nuts.
Food grains: The February index, at 226, is 1.3 percent below the previous month and 2.6 percent below a year ago. The February all wheat price, at $7.09 per bushel, is up 5 cents from January but 33 cents below February 2011.
Feed grains & hay: The February index, at 263, is up 0.8 percent from last month and 13 percent above a year ago. The corn price, at $6.16 per bushel, is up 9 cents from last month and 51 cents above February 2011. The all hay price, at $176 per ton, increased $4.00 from January and is $60.00 higher than last February. Sorghum grain, at $10.90 per cwt, is 10 cents above January but unchanged from February last year.
Cotton, Upland: The February index, at 152, is up 2.0 percent from January but down 0.7 percent from last year. The February price, at 92.3 cents per pound, is up 2.0 cents from the previous month but 0.6 cent below last February.
Oilseeds: The February index, at 222, is up 3.7 percent from January but 2.6 percent lower than February 2011. The soybean price, at $12.30 per bushel, increased 40 cents from January but is down 40 cents from February 2011.
Fruits & nuts: The February index, at 154, is up 1.3 percent from January and 8.5 percent higher than a year ago. Price increases for oranges and grapefruit more than offset price decreases for strawberries and lemons.
Commercial vegetables: The February index, at 111, is down 6.7 percent from last month and 59 percent below February 2011. Price declines for celery, lettuce, and broccoli more than offset the price increase during February for snap beans.
Potatoes & dry beans: The February index, at 172, is down 0.6 percent from last month but 8.9 percent above February 2011. The all potato price, at $9.22 per cwt, is 1 cent less than January and down 4 cents from last February. The all dry bean price, at $46.20 per cwt, is up $4.00 from the previous month and $17.60 above February 2011.
Livestock and products: The February index, at 157, is 0.6 percent above last month and up 9.0 percent from February 2011. Compared with a year ago, prices are higher for cattle, broilers, calves, hogs, and turkeys. Prices for milk and eggs are down from last year.
Meat animals: The February index, at 165, is up 1.2 percent from last month and 15 percent higher than last year. The February hog price, at $65.50 per cwt, is up $2.00 from January and $4.10 higher than a year ago. The February beef cattle price of $126 per cwt increased $1.00 from last month and is $18.00 higher than February 2011.
Dairy products: The February index, at 137, is down 5.5 percent from a month ago and 6.2 percent lower than February last year. The February all milk price of $17.90 per cwt declined $1.10 from last month and $1.20 from February 2011.
Poultry & eggs: The February index, at 159, is up 3.9 percent from January and 12 percent above a year ago. The February market egg price, at 66.9 cents per dozen, increased 0.2 cent from January but is down 10.7 cents from February 2011. The February broiler price, at 52.0 cents per pound, is up 3.0 cents from January and 8.0 cents above a year ago. The February turkey price, at 63.9 cents per pound, is down 1.8 cents from the previous month but up 6.1 cents from a year earlier.
Prices Received Indexes – United States: February 2012 with Comparisons
Prices Received and Prices Paid Indexes by Month for Selected Groups – United States: 2011 and 2012, 1990-1992 Base
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