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USDA Agricultural Prices


28 February 2014

USDA Agricultural Prices - 28 February 2014USDA Agricultural Prices - 28 February 2014


USDA Agricultural Prices

February Farm Prices Received Index Increased 7 Points

The preliminary All Farm Products Index of Prices Received by Farmers in February, at 106 percent, based on 2011=100, increased 7 points (7.1 percent) from January. The Crop Index is up 4 points (4.5 percent) and the Livestock Index increased 4 points (3.4 percent). Producers received higher prices for cattle, oranges, market eggs, and milk and lower prices for broilers, peanuts, grapefruit, and potatoes. 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, and broilers more than offset the decreased marketing of soybeans, corn, tobacco, and wheat.

The preliminary All Farm Products Index is down 3 points (2.8 percent) from February 2013. The Food Commodities Index, at 116, increased 6 points (5.5 percent) from last month and increased 8 points (7.4 percent) from February 2013.

Prices Paid Index Unchanged

The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is at 107 (2011=100). The index is unchanged from January but 1 point (0.9 percent) above February 2013. Higher prices in February for concentrates, feeder pigs, LP gas, and complete feeds offset lower prices for supplements, feeder cattle, potash & phosphate, and nitrogen.

Prices Received by Farmers

The February All Farm Products Index is 106 percent of its 2011 base, up 7.1 percent from the January index but 2.8 percent below the February 2013 index.

All crops: The February index, at 93, increased 4.5 percent from January but is 16 percent below February 2013. Index increases for oilseeds & grains and fruit & tree nut production more than offset the index decreases for vegetable & melon production and other crop production.

Food grains: The February index, at 99, is 3.1 percent above the previous month but 8.3 percent below a year ago. The February all wheat price, at $6.67 per bushel, is up 1 cent from January but $1.30 below February 2013.

Feed grains: The February index, at 75, is up 1.4 percent from last month but 36 percent below a year ago. The corn price, at $4.47 per bushel, is up 5 cents from last month but $2.57 below February 2013. Sorghum grain, at $7.63 per cwt, is 11 cents above January but $4.47 below February last year.

Oilseeds: The February index, at 103, is up 1.0 percent from January but 11 percent lower than February 2013. The soybean price, at $13.10 per bushel, increased 20 cents from January but is $1.50 below February 2013.

Fruits & nuts: The February index, at 122, is up 9.9 percent from January and 16 percent higher than a year ago. Price increases for oranges and tangerines more than offset price decreases for grapefruit and lemons.

Commercial vegetables: The February index, at 93, is down 1.1 percent from last month and 15 percent below February 2013. The all potato price, at $9.06 per cwt, is down 30 cents from January but up 94 cents from a year ago.

Other crops: The February index, at 95, is unchanged from last month but 5.0 percent below February 2013. The all hay price, at $168 per ton, is up $3.00 from January but down $24.00 from last February. The price for upland cotton, at 76.7 cents per pound, is down 0.2 cents from January and 0.2 cents below last February.

Livestock and products: The February index, at 120, is 3.4 percent above last month and up 13 percent from February 2013. Compared with a year ago, prices are higher for cattle, milk, eggs, calves, and turkeys. Prices for broilers and hogs are down from last year.

Meat animals: The February index, at 119, is up 3.5 percent from last month and 13 percent higher than last year. The February hog price, at $63.30 per cwt, is up $2.10 from January but is $1.20 lower than a year ago. The February beef cattle price of $144 per cwt is up $6.00 from last month and $21.00 higher than February 2013.

Dairy products: The February index, at 123, is up 5.1 percent from a month ago and 27 percent higher than February last year. The February all milk price of $24.70 per cwt is up $1.20 from last month and $5.20 above February 2013.

Poultry & eggs: The February index, at 122, is up 1.7 percent from January and 0.8 percent above a year ago. The February market egg price, at $1.23 per dozen, increased 32.4 cents from January and is 45.4 cents above February 2013. The February broiler price, at 55.0 cents per pound, is down 3.0 cents from January and 6.0 cents below a year ago. The February turkey price, at 66.7 cents per pound, is up 2.2 cents from the previous month and 4.0 cents from a year earlier.

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