Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released March 30, 1998, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" or other assistance, see page B-11. Prices Received Index Rises 2 Points The All Farm Products Index of Prices Received in March was 103 based on 1990-92=100, up 2 points (2.0 percent) from February. Price increases from February for oranges, onions, lettuce, and cattle more than offset price decreases for tomatoes, strawberries, milk, and soybeans. The seasonal changes in the mix of commodities farmers sell also affect the overall index level. Higher seasonal marketings of tomatoes, soybeans, asparagus, and broilers more than offset the relatively lower marketings of cattle, cotton, corn, and oranges. These changes contributed one point of the two point increase in the overall index. Compared with March 1997, the All Farm Products Index was 5 points (4.6 percent) lower. Price decreases from March 1997 for hogs, soybeans, cattle, and corn more than offset price increases for milk, onions, cauliflower, and calves. Prices Paid Index Down The March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 115 percent of the 1990-92 average. The index was down 0.9 percent from February 1998 and 1.7 percent below March 1997. Since February 1998, lower prices for complete feeds, feeder cattle, fuels, feed supplements and concentrates, feeder pigs, herbicides, and fertilizer more than offset slightly higher prices for other hay, fungicides, building materials, and insecticides. Index Summary Table ----------------------------------------------------------------------------- : 1997 : 1998 Index :----------------------------------------------------- 1990-92=100 : Feb : Mar : Feb : Mar ----------------------------------------------------------------------------- : : : : Prices Received : 105 : 108 : 101 : 103 : : : : Prices Paid : 116 : 117 : 116 : 115 : : : : Ratio 1/ : 91 : 92 : 87 : 90 ----------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Pr 1 (3-98) Prices Received by Farmers The March All Farm Products Index was 103 percent of its 1990-92 base, up 2.0 percent from February but down 4.6 percent from March 1997. All Crops: The March index was 112, up 1.8 percent from February but 5.1 percent below March 1997. From February, price increases for vegetables, potatoes and dry beans, and food grains more than offset price decreases for oilseeds, feed grains and hay, and tobacco. Food Grains: The March index, at 119, was up 1.7 percent from the previous month but 12 percent below March 1997. The March all wheat price, at $3.34 per bushel, was up 7 cents from February but 59 cents below the March 1997 price. Feed Grains & Hay: The March index was 113, unchanged from last month but 8.1 percent below March 1997. The corn price, at $2.53 per bushel, was down 2 cents from February and 26 cents below the March 1997 price. The all hay price, at $97.50 per ton, was up 30 cents from February. Oil-Bearing Crops: The March index, at 115, was down 1.7 percent from February and 19 percent below March 1997. Soybean prices, at $6.42 per bushel, decreased 15 cents from February and were $1.55 below March 1997. Fruit and Nuts: The March all fruit and nuts index, at 95, was up 6.7 percent from the previous month but was unchanged from March 1997. Higher prices from last month for oranges more than offset lower prices for strawberries and grapefruit. Citrus movement was seasonal, with a larger volume of both fresh and processing grapefruit and fewer processing oranges moving as the transition from Navel to Valencia harvest continues. Potatoes and Dry Beans: The March index, at 109, was up 5.8 percent from last month and 17 percent above March 1997. The March potato price, at $6.30 per cwt, was up 44 cents from February and $1.70 per cwt above March 1997. Livestock and Products: The March index, at 95, was up 1.1 percent from the February index but down 4.0 percent from March 1997. Compared with a year ago, prices were up for calves and all milk, but were lower for beef cows, steers and heifers, hogs, broilers, turkeys, and eggs. Meat Animals: The March index, at 82, was unchanged from last month but down 11 percent from a year earlier. The March hog price was $35.20 per cwt, down 50 cents from February and $14.20 below a year ago. The March beef cattle price of $61.20 was up 80 cents from last month but $3.60 below March 1997. Hog slaughter was running about 6 percent above a year ago during March. Cattle on feed inventory levels have declined to near the 1997 level. This, combined with tightening of feeder cattle supplies, resulted in a slight increase in beef cattle prices. Dairy Products: The March index, at 111, was down 1.8 percent from February but was 7.8 percent above March 1997. The March all milk price, at $14.50 per cwt, was down 20 cents from February, but up $1.00 from last year. February milk production was up 1.3 percent from last year. Prices decreased from last month for both fluid and manufacturing grade milk. Cheese prices also decreased in March. Poultry and Eggs: The March index, at 108, was 3.8 percent above February but 6.1 percent below a year ago. The March broiler price at 35.2 cents per pound was up 0.8 cents from February, the normal seasonal trend. Weekly broiler placements have been running slightly above a year ago. An increase in domestic demand for eggs over-shadowed the weak export market and increased market egg prices 6.0 cents to 57.1 cents per dozen. Table egg production was up 2 percent in February. Turkey prices increased 0.6 cents to 34.6 cents per pound. Cold storage holdings of turkey continue to be above last year's holdings. Index Numbers of Prices Received, United States, March 1998, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 1997 : 1998 : 1997 : 1998 :Average:---------------------------------------------- :1990-92: Mar : Feb : Mar : Mar : Feb : Mar ------------------------------------------------------------------------------- : All Farm Products : 639 685 *642 653 108 *101 103 : All Crops : 500 583 *541 553 118 *110 112 Food Grains : 325 431 *371 377 136 *117 119 Feed Grains & Hay : 363 440 *406 403 123 *113 113 Cotton : 517 586 *524 531 114 *102 104 Tobacco : 1263 1678 *1670 1543 111 *110 102 Oil-Bearing Crops : 554 775 *642 628 142 *117 115 Fruit & Nuts : 716 666 *619 664 95 *89 95 Commercial Vegetables : 698 794 *800 879 119 *120 132 Potatoes & Dry Beans : 540 472 *520 551 93 *103 109 Other Crops : 493 532 532 532 108 108 108 : Livestock & Products : 768 762 *718 727 99 *94 95 Meat Animals : 1021 937 *830 834 92 *82 82 Dairy Products : 799 830 903 891 103 113 111 Poultry & Eggs : 282 324 292 303 115 104 108 : Food Commodities : 106 *98 101 ------------------------------------------------------------------------------- * Revised. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Months, United States, 1997 and 1998 ------------------------------------------------------------------------------ : Index of Prices Received : Index of Prices Paid :-------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :-------------------------------------------------------------------- : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 ------------------------------------------------------------------------------ Jan : 108 103 116 110 98 94 116 116 115 114 Feb : 105 101 113 110 98 94 116 116 115 113 Mar : 108 103 118 112 99 95 117 115 116 112 Apr : 107 116 100 117 117 May : 108 117 100 117 117 Jun : 108 119 98 117 117 Jul : 107 114 100 116 116 Aug : 108 116 99 116 116 Sep : 107 114 99 116 116 Oct : 107 114 97 116 115 Nov : 107 115 98 116 115 Dec : 105 111 97 116 115 ------------------------------------------------------------------------------ Prices Received, United States, March 1998, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Mar : Feb : Mar : : : 1997 : 1998 : 1998 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 2.37 2.39 2.20 Feed : Bu : 1.90 2.21 2.02 1.89 Malting : Bu : 2.43 2.46 2.81 2.67 Beans, Dry Edible : Cwt : 19.10 23.30 21.40 21.40 Corn : Bu : 2.30 2.79 2.55 2.53 Cotton, Upland : Lb : .606 .693 .620 .628 Cottonseed : Ton : 96.00 108.00 : : Flaxseed : Bu : 4.27 6.66 6.27 5.64 Hay, All, Baled 1/ : Ton : 76.30 102.00 97.20 97.50 Alfalfa 1/ : Ton : 77.20 116.00 106.00 104.00 Other 1/ : Ton : 60.00 80.10 74.10 77.40 Oats : Bu : 1.22 1.91 1.62 1.61 Peanuts, In-Shell : Lb : .304 Potatoes : Cwt : 5.82 4.60 5.86 6.30 : : Rice, Rough : Cwt : 7.07 10.20 9.66 9.68 Sorghum Grain : Cwt : 3.75 4.37 4.06 4.07 Soybeans : Bu : 5.61 7.97 6.57 6.42 Sunflower 2/ : Cwt : 9.50 12.20 11.90 11.90 Tobacco : Lb : 1.740 1.930 1.920 1.775 : : Wheat, All : Bu : 2.96 3.93 3.27 3.34 Winter : Bu : 2.93 3.98 3.16 3.18 Durum : Bu : 2.86 4.33 4.71 4.84 Other Spring : Bu : 3.11 3.84 3.34 3.45 Hard Red : Bu : 2.95 3.99 3.25 Soft Red : Bu : 2.87 3.70 3.07 White : Bu : 3.24 3.69 3.11 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 .90 1.61 1.03 Lemons : Box : 10.10 2.19 1.16 .680 Limes : Box : 10.15 12.50 Oranges : Box : 5.79 4.46 3.53 4.75 Tangelos : Box : 5.82 2.19 Tangerines : Box : 15.11 10.22 8.15 8.15 Temples : Box : 6.23 2.32 2.45 3.44 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .176 .216 .213 Grapes, Fresh 3/ : Ton : 506.00 Peaches, Fresh 3/ : Lb : .216 Pears, Fresh 3/ : Ton : 370.00 461.00 260.00 243.00 Strawberries, Fresh: Lb : .560 .804 1.25 .839 ----------------------------------------------------------------------------- 1/ Mid-month price. 2/ KS, MN, ND and SD average. 3/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (pears only) and WA (apples, peaches, and pears). Prices as sold for other states. -- continued Prices Received, United States, March 1998, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Mar : Feb : Mar : : : 1997 : 1998 : 1998 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 116.00 158.00 134.00 Broccoli : Cwt : 22.50 25.90 27.00 35.60 Cantaloupes : Cwt : Carrots : Cwt : 13.20 13.50 13.00 13.70 Cauliflower : Cwt : 26.80 32.60 43.20 75.50 Celery : Cwt : 11.60 12.30 11.40 13.70 Corn, Sweet : Cwt : 15.70 33.90 32.30 26.10 Cucumbers 2/ : Cwt : 15.60 Lettuce : Cwt : 11.90 13.50 10.90 13.40 Onions : Cwt : 12.80 8.09 16.00 21.90 Snap Beans 2/ : Cwt : 42.20 70.40 69.90 Tomatoes : Cwt : 32.30 58.80 48.00 35.50 : : Livestock : : : : Calves : Cwt : 94.30 80.00 88.70 89.70 Cattle, All Beef : Cwt : 72.90 64.80 60.40 61.20 Cows : Cwt : 49.60 36.90 36.00 35.60 Steers & Heifers : Cwt : 77.10 67.90 63.30 64.20 Milk Cows 3/ : Head : 1130.00 : : Hogs, All : Cwt : 47.70 49.40 35.70 35.20 Barrows & Gilts : Cwt : 48.40 49.60 36.10 35.70 Sows : Cwt : 39.50 45.20 26.40 26.00 : : Lambs : Cwt : 56.20 99.70 73.40 Sheep : Cwt : 23.40 42.50 40.70 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 13.50 14.70 5/14.50 Fluid Grade : Cwt : 13.10 13.60 14.80 5/14.50 Mfg Grade : Cwt : 11.80 12.40 13.50 5/13.20 : : Broilers, Live 6/ : Lb : .317 .380 .344 .352 Eggs, All 7/ : Doz : .643 .718 .647 .699 Market 7/ : Doz : .546 .605 .511 .571 Turkeys, Live 6/7/ : Lb : .380 .378 .340 .346 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .704 .622 .679 Milk, All 4/ : Cwt : 9.71 13.92 14.70 14.50 ----------------------------------------------------------------------------- 1/ F.O.B. shipping point. 2/ Monthly estimates began January 1995. 3/ Animals sold for dairy herd replacement only. Prices available for Jan, Apr, Jul, and Oct. 4/ Before deductions for hauling. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 5/ Fat test percent: all milk 3.69, fluid milk 3.69, mfg grade 3.81. 6/ Liveweight equivalent price. 7/ Mid-month price. Wheat: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat : Oth Spring Wheat State :------------------------------------------------------------------------ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ ------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3.20 3.25 3.20 3.25 CA : 3/ 3/ 3/ 3/ 3/ 3/ CO : 3.19 3.16 3.20 3.16 2.72 3.35 ID : 2.96 2.87 3.00 2.85 2.92 2.90 IL : 3.24 3.20 3.24 3.20 IN : 3.04 3.04 3.04 3.04 KS : 3.14 3.18 3.14 3.18 MI : 3.07 3.15 3.07 3.15 MN : 3.34 3.50 3.04 3.10 3/ 3/ 3.34 3.50 MO : 3.01 3.05 3.01 3.05 MT : 3.44 3.53 3.26 3.35 5.08 5.10 3.41 3.50 NE : 3.14 3.23 3.14 3.23 ND : 3.57 3.76 4.61 4.80 3.35 3.50 OH : 2.98 3.00 2.98 3.00 OK : 3.12 3.15 3.12 3.15 OR : 3.40 3.32 3.38 3.30 3.47 3.45 SD : 3.33 3.38 3.16 3.21 3/ 3/ 3.49 3.55 TX : 3.11 3.19 3.11 3.19 WA : 3.28 3.30 3.24 3.29 3.47 3.41 : US : 3.27 3.34 3.16 3.18 4.71 4.84 3.34 3.45 ------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual buyers. Prices Received for Selected Agricultural Commodities, by Months, United States, 1997 and 1998 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 1997 :1998 2/:1997 :1998 2/: 1997 :1998 2/: 1997 :1998 2/: 1997 :1998 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 4.02 3.33 2.69 2.56 7.13 6.69 61.40 62.50 53.80 36.00 Feb : 3.89 3.27 2.65 2.55 7.38 6.57 61.90 60.40 52.80 35.70 Mar : 3.93 3.34 2.79 2.53 7.97 6.42 64.80 61.20 49.40 35.20 Apr : 4.10 2.80 8.23 64.80 53.80 May : 4.08 2.69 8.40 65.10 58.20 Jun : 3.52 2.56 8.16 62.30 57.80 Jul : 3.23 2.42 7.52 62.80 58.90 Aug : 3.56 2.50 7.25 63.90 55.30 Sep : 3.67 2.52 6.72 63.60 50.40 Oct : 3.55 2.54 6.50 63.30 47.30 Nov : 3.50 2.51 6.85 63.30 45.10 Dec : 3.45 2.52 6.71 62.90 41.60 ------------------------------------------------------------------------------- 1/ Cows, steers and heifers. 2/ Current month prices are mid-month; prices for previous months are for the entire month. Grains: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :Feb 2/:Mar 3/:Feb 2/:Mar 3/:Feb 2/:Mar 3/:Feb 2/:Mar 3/: Feb 2/: Mar 3/ ------------------------------------------------------------------------------ : ----------------- Dollars per Bushel ---------------- Dollars per Cwt : AL : AR : 6.80 6.60 4.86 4.85 CA : 2.80 4/ CO : 2.50 2.40 2.57 2.54 GA : 3.23 3.19 6.51 6.41 ID : 2.89 2.87 IL : 2.67 2.65 1.75 5/ 6.74 6.65 4.45 4.50 IN : 2.62 2.63 6.73 6.51 IA : 2.47 2.47 1.81 1.89 6.43 6.28 KS : 2.54 2.52 6.49 6.25 3.87 3.97 KY : 2.74 2.80 6.78 6.70 LA : 6.80 6.60 MI : 2.45 2.45 1.91 1.85 6.36 6.30 MN : 1.69 1.69 2.36 2.35 1.50 1.45 6.40 6.20 MS : 6.74 6.50 MO : 2.55 2.55 6.48 6.45 4.15 4.20 MT : 2.73 2.54 5/ 5/ NE : 2.48 2.50 1.61 1.70 6.40 6.30 4.08 4.05 NC : 3.06 2.95 6.67 6.50 ND : 1.95 1.90 1.30 1.30 OH : 2.57 2.55 1.77 1.75 6.66 6.55 OK : 4.11 4.10 OR : 2.22 2.15 1.66 1.70 PA : 3.04 3.05 1.90 1.90 SD : 2.02 1.99 2.26 2.25 1.62 1.52 6.26 6.13 TN : 2.91 2.80 6.71 6.60 TX : 2.85 2.70 5/ 5/ 4.49 4.35 UT : 2.34 2.27 WA : 2.11 1.89 WI : 2.44 2.50 1.52 1.45 6.52 6.40 WY : 4/ 4/ : US : 2.39 2.20 2.55 2.53 1.62 1.61 6.57 6.42 4.06 4.07 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for March 1998 is $1.69. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual operations. 5/ Insufficient sales to establish a price. Malting and Feed Barley: Prices Received Selected States, February and March 1998 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Feb : Mar : Feb : Mar ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 3.18 3.25 2.42 2.30 MN : 2.02 2.05 1.65 1.65 MT : 3.02 2.90 2.07 2.00 ND : 2.20 2.15 1.74 1.70 SD : 1/ 1/ 1.91 1.81 WY : 1/ 1/ 2.00 1.95 ------------------------------------------------------------------------------ 1/ Price not published to avoid disclosure of individual operations. Field Crops: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :----------------------------------------------------------------------- :Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 3/: Feb 1/: Mar 4/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : CA : 28.60 28.10 CO : 22.90 22.30 FL : GA : ID : 22.50 22.10 IN : 1.805 1.770 KS : 5/ 5/ KY : 1.885 1.760 MD : MI : 20.10 20.00 MN : 20.60 20.60 12.00 12.10 MO : NE : 21.10 21.10 NC : ND : 20.40 19.00 12.10 12.40 6.27 6.00 OH : 1.815 1.605 OK : SC : SD : 11.00 10.80 6/ 6/ TN : 2.090 1.920 TX : VA : WV : 1.695 : US : 21.40 21.40 11.90 11.90 6.27 5.64 1.920 1.775 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ Based on sales through first half of month. 4/ Marketing year Aug - Jan. 5/ Price not published to avoid disclosure of individual buyers. 6/ Insufficient sales volume to establish a price. Tobacco: Prices Received, by Area and Type, March 1998, with Comparisons ------------------------------------------------------------------------------ : : Mar : Feb : Mar Class by Type : Type : 1997 : 1998 : 1998 1/ ------------------------------------------------------------------------------ : : Dollars per Pound Fire-cured : : VA Belt : 21 : 2/ 2/ Eastern District : 22 : 1.935 2.280 1.995 Western District : 23 : 1.935 2.145 1.920 Total Fire-cured : 21-23: 1.935 2.250 1.985 : : Light Air-Cured : : Burley : 31 : 1.795 1.755 Southern MD Belt : 32 : 1.920 3/ Total Light Air-Cured : 31-32: 1.920 1.795 1.755 : : Dark Air-cured : : One Sucker Belt : 35 : 1.665 4/ Green River Belt : 36 : 1.850 4/ Sun-cured Belt : 37 : 2/ 2/ Total Dark Air-cured : 35-37: 1.770 : : US : 11-37: 1.930 1.920 1.775 ------------------------------------------------------------------------------ 1/ Based on sales during the first half of the month. 2/ Sales closed in January. 3/ Sales began March 17, 1998. 4/ Sales closed in February. Field Crops and Apples: Prices Received, by States, February and March 1998 ---------------------------------------------------------------------------- : : March : Cotton, Upland :------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :----------------------------: Fresh : Feb 1/ : Mar 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ ---------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton ------- Dol/Lb : AL : .645 .634 AZ : .619 .589 105.00 105.00 86.00 AR : .659 .628 CA : .697 .736 121.00 123.00 99.00 .297 CO : 102.00 102.00 106.00 GA : .627 .632 ID : 99.00 100.00 80.00 IL : 100.00 105.00 80.00 IA : 104.00 107.00 69.00 KS : 84.00 87.00 66.00 KY : 84.00 107.00 70.00 LA : .624 .623 MI : 98.00 100.00 90.00 .160 MN : 82.00 94.00 55.00 MS : .624 .634 MO : 72.00 107.00 65.00 MT : 70.00 71.00 63.00 NE : 73.00 77.00 57.00 NV : 109.00 111.00 95.00 NM : 129.00 132.00 102.00 NY : 102.00 128.00 76.00 .176 NC : .632 .649 ND : 54.00 61.00 41.00 OH : 119.00 145.00 75.00 .255 OK : 84.00 100.00 60.00 OR : 113.00 115.00 85.00 PA : 143.00 167.00 131.00 .190 SD : 60.00 65.00 45.00 TN : .624 .633 TX : .579 .586 63.00 160.00 60.00 UT : 81.00 82.00 67.00 VA : .180 WA : 116.00 109.00 135.00 .220 WI : 104.00 110.00 80.00 WY : 84.00 85.00 79.00 : US : .620 .628 97.50 104.00 77.40 .213 ---------------------------------------------------------------------------- 1/ Entire month. 2/ Based on sales during the first half of the month. 3/ Mid-month. 4/ Equivalent packinghouse-door returns for CA, NY, and WA. Price at point of first sale for other states. 5/ Marketing year August-February. Upland Cotton and Rice: Prices Received and Marketings, United States, March 1998, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Jan 1998 1/ : Feb 1998 1/ :Mar 1998 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .608 .620 .628 Marketings 3/ : 1,000 Bales : 1841 1581 NA : : Rice : : Average Price : Dollars/Cwt : 9.52 9.66 9.68 Marketings 4/ : 1,000 Cwt : 13416 10679 NA ---------------------------------------------------------------------------- 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Expanded data from sample of about 60 percent of buyers. 4/ Purchases by private firms and rice (rough equivalent) shipped by cooperatives. Citrus Fruit: Prices and Equivalent Returns, by Utilization, by State and United States, March 1998 ------------------------------------------------------------------------------ : : Equivalent Returns Commodity : F.O.B. :----------------------------------------------- And : Packed : Packinghouse-door : On-tree State : Fresh :----------------------------------------------- : : All : Fresh : Process : All : Fresh :Process ------------------------------------------------------------------------------ : Dollars per Box 1/ Grapefruit : AZ : 10.90 3.51 5.46 -0.26 1.57 3.52 -2.20 CA : 11.20 4.28 5.76 -0.26 2.34 3.82 -2.20 FL : 12.50 2.59 5.01 1.52 0.34 3.16 -0.90 White Seedless : 14.00 2.40 6.10 1.45 0.23 4.25 -0.80 Colored Seedless: 11.80 2.77 4.55 1.60 0.44 2.70 -1.05 Other : 1.60 1.60 0.00 0.00 TX : 14.10 4.43 5.40 1.50 3.29 4.25 0.40 : CA-AZ : 11.00 3.84 5.60 -0.26 1.90 3.66 -2.20 : US : 13.10 3.02 5.18 1.51 1.03 3.63 -0.78 : Lemons : AZ : 16.60 4.80 8.16 2.08 1.16 4.52 -1.56 CA : 17.60 4.31 9.16 2.08 0.67 5.52 -1.56 : US : 17.60 4.32 9.14 2.08 0.68 5.50 -1.56 : Oranges : AZ : 10.20 4.10 4.25 -0.06 2.04 2.19 -2.04 Navel and Misc : 8.42 1.93 2.40 -0.06 -0.05 0.42 -2.04 Valencia : 10.50 4.60 4.60 2.52 2.52 CA : 15.60 7.36 9.56 0.15 5.38 7.57 -1.83 Navel and Misc : 15.60 7.39 9.58 -0.06 5.41 7.60 -2.04 Valencia : 15.00 6.86 9.10 2.64 4.78 7.02 0.56 FL : Valencia : 12.30 6.46 5.40 6.50 4.61 3.40 4.65 TX : Valencia : 15.50 6.60 6.70 5.84 5.31 5.40 4.59 : CA-AZ : Navel and Misc : 15.60 7.37 9.56 -0.06 5.39 7.58 -2.04 Valencia : 13.80 6.43 7.90 2.64 4.35 5.82 0.56 : US : 15.00 6.63 8.80 6.14 4.75 6.82 4.29 : Tangerines : AZ : 19.60 10.88 13.70 -0.08 8.80 11.62 -2.16 CA : 18.70 7.94 12.80 -0.08 5.86 10.72 -2.16 FL : 24.00 12.46 15.70 6.20 9.05 12.70 2.00 : US : 22.20 11.09 14.77 4.00 8.15 12.09 0.54 : Temples : FL : 15.00 5.61 8.10 5.20 3.44 6.10 3.00 ------------------------------------------------------------------------------ 1/ Net lbs. per box: Grapefruit-AZ & CA-67, FL-85, TX-80; Lemons-76; Oranges-AZ & CA-75, FL-90, TX-85; Tangerines-AZ & CA-75, FL-95; Temples-90. Potatoes: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : : :: : : State : Feb : Mar :: State : Feb : Mar : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : :: ND - All 1/ : 6.45 6.30 CA - All : 10.10 9.90 :: - Fresh 2/ : 7.00 NA - Winter : 22.80 20.40 :: - Processing : 5.75 NA - Spring : :: OH : 9.05 8.50 - Summer : :: OR : 5.25 5.60 - Fall : 7.80 7.90 :: PA : 9.30 9.20 CO - All 1/ : 4.40 4.45 :: TX : - Fresh 2/ : 4.61 NA :: VA : FL : 31.50 30.50 :: WA - All : 5.35 5.20 ID - All 1/ : 4.35 4.50 :: - Processing : 5.00 NA - Fresh 2/ : 4.00 NA :: WI - All 1/ : 5.70 6.05 - Processing : 4.80 NA :: - Fresh 2/ : 4.05 NA ME : 6.35 6.60 :: - Processing : 5.80 NA MI : 6.55 6.75 :: : MN : 6.20 6.45 :: US - All 1/ : 5.86 6.30 NY : 8.00 8.40 :: - Fresh 2/ : 6.67 NA : :: - Processing : 5.15 NA ------------------------------------------------------------------------------ 1/ Average price of potatoes sold for all uses, including table stock, processing, seed and livestock feed. 2/ Fresh market prices only, includes table stock prices. Cattle: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : Cows 1/ : Steers & Heifers: Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ ------------------------------------------------------------------------------ : Dollars per Cwt : AZ : 37.60 42.10 60.80 63.30 59.20 61.60 93.20 96.80 AR : 34.80 34.30 71.90 73.20 59.30 60.40 81.80 87.00 CA : 33.50 33.50 63.50 62.50 48.50 48.60 74.00 72.00 CO : 36.90 36.00 62.20 63.80 60.40 62.10 91.10 94.20 FL : 37.40 34.70 73.80 71.40 41.80 38.40 89.50 90.00 GA : 36.10 34.10 69.60 72.20 49.50 49.30 84.40 87.30 ID : 34.00 33.80 64.90 66.60 58.10 58.70 82.00 84.00 IL : 35.10 34.40 61.70 61.80 61.20 61.30 103.00 104.00 IA : 38.30 38.40 64.10 64.30 60.70 60.90 80.10 83.60 KS : 37.20 35.60 62.70 63.10 61.90 62.30 93.00 91.00 KY : 38.00 37.00 70.00 70.00 62.30 62.10 80.00 82.00 LA : 37.30 37.00 76.10 75.00 48.20 47.60 86.40 87.00 MI : 34.40 34.00 60.80 59.50 50.20 49.30 55.00 50.00 MN : 36.70 37.00 62.20 61.50 59.60 59.10 74.00 72.00 MO : 36.00 35.00 75.00 75.50 66.40 66.60 86.80 88.00 MT : 37.30 36.00 79.80 78.70 66.60 70.20 89.60 87.60 NE : 37.70 38.60 62.50 65.00 61.60 64.20 89.30 90.70 NM : 40.10 40.40 78.00 76.80 61.70 63.70 93.20 92.00 ND : 38.50 37.00 73.00 72.00 67.80 65.70 84.90 82.00 OH : 34.90 35.00 62.90 63.00 60.10 60.20 69.80 69.00 OK : 36.80 34.90 76.40 74.50 74.20 71.70 90.40 91.60 OR : 37.80 37.60 74.90 75.80 63.80 64.30 81.60 85.80 PA : 36.00 34.40 61.30 60.00 54.70 53.30 80.00 77.00 SD : 34.00 34.00 71.90 70.70 65.10 67.00 90.10 91.00 TN : 35.90 36.60 74.10 74.70 58.80 59.50 83.80 86.40 TX : 35.30 35.30 65.70 66.50 63.30 64.00 94.00 95.70 VA : 32.40 29.40 67.80 66.00 59.30 62.00 79.40 83.40 WI : 36.80 36.00 59.40 58.50 46.30 45.50 99.20 102.00 WY : 37.00 37.00 77.80 77.80 69.20 71.70 92.20 93.20 : US : 36.00 35.60 63.30 64.20 60.40 61.20 88.70 89.70 ------------------------------------------------------------------------------ 1/ Beef cows and cull dairy cows sold for slaughter. 2/ Entire month. 3/ Mid-month. 4/ "Cows" and "steers and heifers" combined. Hogs: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 25.30 25.50 34.50 36.20 33.60 35.10 IL : 25.40 24.80 34.70 33.50 33.90 32.80 IN : 25.70 26.00 35.10 34.30 34.20 33.50 IA : 28.80 27.80 37.50 36.80 37.40 36.60 KS : 27.80 26.30 33.90 35.00 33.10 34.00 KY : 27.00 26.00 37.00 36.00 36.60 35.60 MI : 26.00 25.00 37.00 36.50 36.30 35.80 MN : 28.30 27.00 37.60 35.50 37.30 35.20 MO : 27.00 26.30 33.90 32.60 33.30 32.10 NE : 28.40 28.00 38.80 39.50 38.70 39.30 NC : 28.00 27.10 35.10 35.50 35.00 35.40 OH : 26.00 27.00 37.30 39.00 37.00 38.60 PA : 26.50 26.10 35.40 32.90 34.10 31.90 SC : 28.60 26.50 34.10 35.20 33.70 34.70 SD : 27.50 27.10 38.00 38.00 36.60 36.90 TN : 26.00 25.40 34.50 34.10 33.70 33.20 TX : 24.30 23.80 32.80 31.80 31.70 30.80 VA : 24.50 23.90 34.50 35.50 34.30 35.30 WI : 23.90 24.70 34.10 33.20 32.80 32.10 : US : 26.40 26.00 36.10 35.70 35.70 35.20 ------------------------------------------------------------------------------ 1/ Entire month 2/ Mid-month. Sheep and Poultry: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : February : March :----------------------------------------------------------------------- State : Sheep : Lambs : Turkeys : Broilers: Eggs : 1/ : 1/ : 2/3/ : 1/4/ : 2/5/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Pound Dol/Doz : AL : .360 .550 AZ : AR : .34 .330 .550 CA : 33.00 78.00 .37 .360 .550 CO : 40.60 76.10 CT : .570 DE : .340 FL : .540 GA : .370 .574 ID : 34.00 63.00 IN : .36 .620 IA : 36.90 68.00 .39 .515 KS : 38.00 69.00 ME : .680 MD : .340 MI : .570 MN : 38.70 71.00 .37 .510 MS : .360 .660 MO : .34 .508 MT : 39.90 77.10 NE : 37.70 67.00 NM : NY : .653 NC : .32 .370 .572 OH : 36.60 74.10 .598 OR : 33.50 71.00 PA : .35 .340 .600 SC : .519 SD : 40.70 71.30 TX : 45.50 75.30 .320 .590 UT : 37.00 76.00 VA : .33 .350 WA : .515 WY : 42.90 73.50 : US : 40.70 73.40 .346 .352 .571 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ IN, IA, MN and PA are actual liveweight prices. All other State prices are equivalent liveweight returns to producers (see footnote 4 for formula). 4/ Liveweight equivalent price. Derived from ready-to-cook (RTC) prices using the following formula: (RTC price minus processing cost) * (dressing percentage) = liveweight equivalent price. 5/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, February and March 1998 ------------------------------------------------------------------------------ : February : March :----------------------------------------------------------------------- State : Fluid Grade : Manufacturing : All Milk : All Milk : : Milk 1/ : Grade Milk : 2/ : 2/3/ : Milk :---------------------------------------------------------------:Cows 4/ : Price:Fat Test: Price:Fat Test: Price:Fat Test: Price:Fat Test: ------------------------------------------------------------------------------ :Dol/Cwt Pct Dol/Cwt Pct Dol/Cwt Pct Dol/Cwt Pct Dol/Head : AL : 16.40 3.72 16.40 3.72 16.30 3.70 AZ : 14.30 3.63 14.30 3.63 14.40 3.63 AR : 15.80 3.75 15.80 3.75 15.70 3.70 CA : 13.70 3.77 14.00 4.10 13.70 3.77 13.20 3.67 CO : 14.50 3.65 14.50 3.65 14.30 3.61 FL : 17.70 3.64 17.70 3.64 17.60 3.62 GA : 16.10 3.66 16.10 3.66 16.00 3.56 ID : 13.80 3.59 13.50 3.75 13.80 3.60 13.50 3.59 IL : 14.60 3.78 14.30 3.85 14.60 3.78 14.50 3.77 IN : 14.70 3.76 12.60 3.80 14.60 3.76 14.60 3.73 IA : 14.20 3.76 13.60 3.80 14.10 3.76 14.00 3.74 KS : 14.50 3.74 13.40 3.80 14.50 3.74 14.40 3.67 KY : 15.30 3.71 12.70 3.82 15.20 3.71 15.30 3.63 LA : 15.70 3.46 15.70 3.46 15.30 3.38 MD : 15.30 3.78 15.30 3.78 15.20 3.76 MI : 15.10 3.70 12.60 3.76 15.10 3.70 14.80 3.67 MN : 14.95 3.74 13.55 3.79 14.84 3.74 14.30 3.73 MS : 15.70 3.62 15.70 3.62 15.70 3.60 MO : 15.30 3.71 13.70 3.84 15.20 3.72 15.10 3.65 NE : 14.30 3.76 13.80 3.85 14.30 3.77 14.20 3.73 NM : 13.90 3.63 13.90 3.63 13.60 3.58 NY : 14.80 3.72 14.80 3.72 14.60 3.71 NC : 16.70 3.75 13.00 4.04 16.70 3.75 16.70 3.68 ND : 14.30 3.70 12.40 3.75 13.50 3.72 13.30 3.70 OH : 15.20 3.77 12.60 3.82 15.00 3.77 14.90 3.75 OK : 15.30 3.65 15.30 3.65 15.20 3.63 OR : 14.60 3.67 13.60 4.30 14.60 3.68 14.60 3.66 PA : 15.50 3.71 13.50 3.82 15.50 3.71 15.50 3.68 TN : 15.80 3.75 12.80 3.86 15.70 3.75 15.60 3.70 TX : 15.40 3.66 15.40 3.66 15.30 3.59 UT : 14.00 3.66 13.30 3.77 13.90 3.67 13.70 3.62 VT : 15.30 3.80 15.30 3.80 15.20 3.81 VA : 15.30 3.73 12.40 3.73 15.20 3.73 15.00 3.71 WA : 14.60 3.67 14.60 3.67 14.60 3.65 WI : 14.78 3.80 13.80 3.88 14.71 3.81 14.40 3.80 : US : 14.80 3.73 13.50 3.83 14.70 3.73 14.50 3.69 ------------------------------------------------------------------------------ 1/ Including milk diverted to manufacturing. 2/ Before deductions for hauling. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 3/ Preliminary. 4/ Animals sold for dairy herd replacement only. Prices published Jan, Apr, Jul and Oct. Parity Price Equivalent for Manufacturing Milk 1/: United States, February and March 1998, with Comparisons ------------------------------------------------------------------------------ Item : Mar 1997 : Feb 1998 : Mar 1998 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 26.60 26.45 26.27 Average Price F.O.B.......Dol per Cwt : 12.40 13.50 2/13.20 Average Fat Test of Milk..Percent : 3.83 3.83 2/3.81 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 1998 is 90.9 percent of the parity price of all milk sold to plants, compared with 90.8 percent in 1997. For additional details, see January 1998 issue of "Agricultural Prices". 2/ Preliminary. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for March 1998, with Comparisons 1/ ------------------------------------------------------------------------------- : : Parity Prices :Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :------------------------------------------ : Prices : Mar : Feb : Mar : Mar : Feb : Mar : : 1997 : 1998 : 1998 : 1997: 1998: 1998 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .632 9.47 9.57 9.52 41 34 35 Rice, Cwt : 1.76 25.70 26.70 26.50 40 36 37 Corn, Bu : .429 6.35 6.50 6.47 44 39 39 Cotton, Lb : American Upland : .112 1.70 1.70 1.69 41 36 37 Extra Long Staple : .147 2.28 2.23 2.22 Peanuts, Lb : .0422 .654 .639 .636 Tobacco, By Type, Lb : Flue-Cured 11-14 : .249 3.80 3.77 3.75 VA Fire-Cured, 21 : .243 3.54 3.68 3.66 KY-TN Fire-Cured, 22-23 : .311 4.61 4.71 4.69 42 Burley, 31 : .262 3.94 3.97 3.95 45 44 Maryland, 32 : .217 3.42 3.29 3.27 56 Dark Air-Cured, 35-36 : .261 3.85 3.95 3.93 Sun-Cured, 37 : .218 3.18 3.30 3.29 PA Seedleaf, 41 : .186 2.68 2.82 2.80 Cigar Filler & Binder, : 42-44, 54-55 .213 3.16 3.23 3.21 Puerto Rican Filler, 46 : .173 2.63 2.62 2.61 Cigar Binder, 51-52 : .489 6.52 7.41 7.37 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.92 29.30 29.10 28.90 2/48 2/51 2/50 Honey, Extracted, Lb : 3/.0859 1.31 1.30 1.29 : Wool and Mohair : Wool, Lb : .270 4.10 4.09 4.07 Mohair, Lb : .721 11.00 10.90 10.90 : Other Nonbasic : Barley, Bu : .386 5.79 5.85 5.82 41 41 38 Cottonseed, Ton : 15.70 233.00 238.00 237.00 45 Dry Edible Beans, Cwt : 3.29 49.90 49.80 49.60 47 43 43 Flaxseed, Bu : .782 11.40 11.80 11.80 58 53 48 Oats, Bu : .237 3.60 3.59 3.57 53 45 45 Potatoes, Cwt : .839 12.80 12.70 12.60 36 46 50 Rye, Bu : .325 4.61 4.92 4.90 Sorghum Grain, Cwt : .675 10.00 10.20 10.20 44 40 40 Soybeans, Bu : .924 13.70 14.00 13.90 58 47 46 Sweetpotatoes, Cwt : 1.61 19.00 24.40 24.30 Apples, Fresh, Lb 5/ : .0285 .441 .432 .429 40 50 50 Citrus (equiv on-tree),box: Grapefruit : .704 10.70 10.70 10.60 8 15 10 Lemons : 1.15 17.50 17.40 17.30 13 7 4 Limes (FL) : 1.21 19.80 18.30 18.20 68 Oranges : .900 13.70 13.60 13.60 33 26 35 Tangerines : 1.90 28.90 28.80 28.60 35 28 28 Temples (FL) : .755 11.50 11.40 11.40 20 21 30 Beef Cattle, Cwt : 9.90 152.00 150.00 149.00 43 40 41 Calves, Cwt : 12.60 193.00 191.00 190.00 41 46 47 Hogs, Cwt : 6.72 103.00 102.00 101.00 48 35 35 Lambs, Cwt : 10.10 152.00 153.00 152.00 66 48 Sheep, Cwt : 4.12 61.70 62.40 62.10 69 65 Eggs, Doz : .0946 1.42 1.43 1.43 2/50 2/43 2/47 Turkeys, Live, Lb : .0575 .871 .871 .867 43 39 40 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for March 1998, United States 1/ (continued) ------------------------------------------------------------------------------- Other Nonbasic : Adj Base : Parity : Other Nonbasic : Adj Base : Parity Commodities : Prices : Prices : Commodities : Prices : Prices ------------------------------------------------------------------------------- : Dollars : : Dollars : : : Field Crops and : :Noncitrus Fruit : Misc Commodities : : Peaches, cont. : Hops, Lb : .236 3.56 : Processing 6/ : Spearmint Oil, Lb: 1.88 28.30 : Excl Dried : Tobacco, Lb : : Clingstone, : Type 61 : 2.58 38.90 : CA, Ton : 31.40 473.00 : : Pears, Ton : Noncitrus Fruit : : Fresh 5/ : 51.50 776.00 Apples, Ton 7/ : : Dried, CA 7/ : 142.00 2140.00 Processing : 18.30 276.00 : Plums, CA, Ton : Apricots, Ton : : Fresh, Equiv : Fresh 8/ : 140.00 2110.00 : on-Tree : 53.10 800.00 Dried, CA : 297.00 4480.00 : Prunes, Dried, : Avocados, Ton 8/ : 141.00 2120.00 : CA, Ton 7/ : 122.00 1840.00 Cherries : : Prunes and Plums,: Sweet, Ton : 153.00 2310.00 : Excl CA, Ton : Tart, Lb : .0363 .547 : Fresh 10/ : 58.20 877.00 Cranberry, Bbl 6/: 7.10 107.00 : Processing 7/ : Dates, CA, Ton 8/: 126.00 1900.00 : Excl Dried : 21.70 327.00 Grapes, Ton : : : Raisin Variety : 136.00 2050.00 :Tree Nuts 11/ : Other Dried : 55.00 829.00 : Almonds, Lb : .215 3.24 Kiwifruit, Ton : 75.80 1140.00 : Hazelnuts, Ton : 115.00 1730.00 Nectarines : : Pistachio, Lb : .168 2.53 Fresh, Calif, : : Walnuts, Ton : 148.00 2230.00 Ton 8/ : 61.40 925.00 : : Olives, CA : :Vegetables, Cwt 12/: Canning, Ton 6/: 93.70 1410.00 : Fresh : Papayas (HA) Lb : .0459 .692 : Carrots 9/ : 1.75 26.40 Peaches : : Cauliflower 9/ : 4.21 63.40 Fresh, Lb 5/ : .0399 .601 : Celery 9/ : 1.86 28.00 Dried, CA, : : Honeydew Melons : 2.45 36.90 Ton : 125.00 1880.00 : Lettuce : 2.14 32.20 : : Onions 9/ : 1.72 25.90 : : Tomatoes : 4.38 66.00 ------------------------------------------------------------------------------- 1/ Parity prices are computed under the provisions of Title III, Subtitle a, Section 301 (a) of the Agricultural Adjustment Act of 1938 as amended by the Agricultural Acts of 1948, 1949, and 1956. See January "Agricultural Prices" for details on adjusted base price and parity price computations. 2/ Seasonally adjusted price as percentage of parity price. 3/ Wholesale extracted. Adjusted base price derived from state annual averages prices weighted by production. For 1982 through 1985 the national averages are the support prices. 4/ Average local market price, excluding incentive payments. 5/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (except peaches), and WA. Price at point of first sale for other states. 6/ Equivalent returns for bulk fruit at first delivery point. 7/ Equivalent returns at processing plant door. 8/ Equivalent returns at packinghouse door. 9/ Includes some processing. 10/ Based on "as sold" prices for fresh fruit in all states. 11/ Prices in-shell basis except almonds which are shelled basis. 12/ F.O.B. shipping point prices. Wool and Mohair: Prices Received, Marketing Year Average, by States, 1996-97 1/ ---------------------------------------------------------------------------- : Wool : Mohair State :------------------------------------------------------------------- : 1996 : 1997 : 1996 : 1997 ---------------------------------------------------------------------------- : Dollars per Pound : AL : .38 .48 AK : .90 1.00 AZ : .61 .58 1.47 1.70 CA : .67 .79 CO : .73 .89 CT : .40 .55 ID : .62 .74 IL : .34 .43 IN : .31 .34 IA : .39 .42 KS : .51 .58 KY : .33 .41 LA : .33 .58 ME : .45 .50 MD : .49 .68 MA : .40 .60 MI : .36 .44 MN : .43 .43 MO : .36 .45 MT : .94 1.01 NE : .49 .52 NV : .69 .90 NH : .60 .65 NJ : .78 .55 NM : .85 1.07 1.61 1.90 NY : .55 .54 NC : .62 .59 ND : .70 .76 OH : .39 .43 OK : .50 .58 1.73 2.00 OR : .45 .61 PA : .49 .53 SD : .77 .90 TN : .42 .50 TX : .84 1.06 1.95 2.28 UT : .65 .75 VT : .60 .65 VA : .48 .58 WA : .60 .65 WV : .51 .61 WI : .42 .53 WY : .86 .98 : Oth 2/ : .40 .55 : US : .70 .84 1.92 2.25 ---------------------------------------------------------------------------- 1/ Average local market for wool and mohair sold. 2/ Includes AR, DE, FL, GA, MS, RI and SC. Reliability of Prices Received Estimates Definition: Prices received represent sales from producers to first buyers. They include all grades and qualities. The average commodity price from the survey multiplied by the total quantity marketed theoretically should give the total cash receipts for the commodity. Survey Procedures: Primary sales data used to determine grain prices were obtained from probability samples of 2600 mills and elevators. These procedures ensure that virtually all grain moving into commercial channels has a chance of being included in the survey. Generally, States surveyed account for 90 percent or more of total U.S. production. Livestock prices are obtained from packers, stockyards, auctions, dealers, and market check data from AMS-USDA, private marketing organizations, and state commodity groups and agencies. Inter-farm sales of grain and livestock are not included since they represent very small percentages of the total marketings. Grain marketed for seed is also excluded. Fruit and vegetable prices are obtained from sample surveys and market check data from AMS-USDA, private marketing organizations, state agencies, and universities. Summary and Estimation Procedures: Survey quantities sold are expanded by strata to state levels and used to weight average strata prices to a state average. State prices are then weighted to a U.S. price based on expanded marketings. Recommendations are prepared by the State Statistical Offices and reviewed by the Agricultural Statistics Board in Washington, D.C. State recommendations are reviewed for reasonableness with survey data, other States, and recent historic estimates. Revisions: For most items, the current month's price represents a 3-5 day period around the mid-month. Previous month's prices represent actual dollars received for quantities sold during the entire month. Revisions are published in monthly issues of "Agricultural Prices". Reliability: U.S. price estimates based on probability surveys generally have a sampling error of less than one percent for the major commodities such as corn, wheat, soybeans, cotton, and rice. Current methods of summarization for non-probability commodities are not designed directly to calculate sampling errors. However, analytical measures approximate the U.S. relative sampling errors at around five percent. Any nonsampling errors are attributed to such things as the inability to obtain correct information, differences in interpreting questions or definitions, mistakes in coding or processing the data, etc. Efforts are made at each step in the survey process to minimize these nonsampling errors. Prices Paid by Farmers The March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 115 (1990-92=100), down 0.9 percent from February 1998 and 1.7 percent below March 1997. Production Index: The farm production, goods, and services index for March 1998, at 112, was down 0.9 percent from last month and 3.4 percent below a year ago. Since February, lower prices for complete feeds, feeder cattle, fuels, feed supplements and concentrates, feeder pigs, herbicides, and fertilizer more than offset slightly higher prices for other hay, fungicides, building materials, and insecticides. Feed: At 107, the feed index was 2.7 percent below February and 16 percent less than last March. Since February, prices were lower for all feed index items except other hay and grain sorghum, which were up only slightly. Lower complete feed prices contributed most to the index decline. Livestock and Poultry: The index for livestock and poultry purchases was 91, down 3.2 percent from last month but 2.2 percent above last year. Prices were lower in March for both feeder cattle and feeder pigs. Feeder cattle and calf prices, at $78.00 per cwt, were down $2.30 per cwt from February. March feeder pig prices fell to $62.50 per cwt. Fertilizer: The fertilizer index, at 113, was 0.9 percent below February and fell 8.9 percent from March a year ago. Since February, prices were lower for all fertilizer items, with nitrogen fertilizer accounting for most of the index decline. Agricultural Chemicals: At 122, the chemical index was down 0.8 percent from last month but increased 2.5 percent from last year. Lower herbicide prices in March more than offset slightly higher fungicide and insecticide prices. Fuels: The fuels index, at 77, was down 6.1 percent from a month earlier and 26 percent below March 1997. Compared to last month, prices were lower for diesel fuel, gasoline, and LP gas, with lower diesel fuel prices contributing most to the decline. Farm Machinery: The March farm machinery index was 129, the same as February but 1.6 percent above last March. Since February, prices were marginally higher for other machinery while prices for tractors and self-propelled machinery were unchanged. Consumer Price Index: The February 1998 Consumer Price Index for all urban consumers (CPI-U) rose 0.2 percent before seasonal adjustment to a level of 161.9 (1982-84=100). This compares to the January index of 161.6. For the 12-month period ending in February, the overall index has increased 1.4 percent. Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, March 1998 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 1997 : 1998 : 1997 : 1998 Ratios :---------------------------------------------- : Mar : Feb : Mar : Mar : Feb : Mar -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1529 *1517 1507 117 *116 115 Production : 1126 *1099 1088 116 113 112 Feed : 619 *535 520 127 *110 107 Livestock and Poultry : 1137 *1201 1161 89 *94 91 Seeds : 1161 1186 1186 117 120 120 Fertilizer : 455 417 415 124 114 113 Agricultural Chemicals : 734 *759 753 119 *123 122 Fuels : 802 *631 597 104 *82 77 Supplies & Repairs : 829 *837 837 117 118 118 Autos & Trucks : 2924 *2909 2911 110 *109 110 Farm Machinery : 3187 *3235 3238 127 129 129 Building Material : 1599 *1603 1607 118 118 118 Farm Services & Rent : 1404 *1421 1421 Farm Services : 117 116 116 Rent : 119 124 124 Interest 1/ : 2659 2701 2701 106 108 108 Taxes 2/ : 3093 3185 3185 115 119 119 Wage Rates : 4644 4916 4916 124 131 131 Production, Interest, Taxes, : & Wage Rates (PITW) : 1560 *1535 1523 117 115 114 Family Living-CPI 3/ : 1521 *1539 1539 119 120 120 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 92 87 90 Parity Ratio 4/ : 45 42 43 Parity Ratio Adjusted 5/ : 47 44 45 PPITW Adjusted for : Productivity 6/ : 1046 1066 1064 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 118 118 118 Livestock Sector (PPITW) : 115 113 112 -------------------------------------------------------------------------------- Farm Sector (Production) : 112 *106 103 Non-Farm Sector (Production) : 118 117 117 -------------------------------------------------------------------------------- * Revised. 1/ Interest per acre on farm real estate debt and interest rate on farm non-real estate debt. 2/ Farm real estate taxes payable per acre. 3/ Bureau of Labor Statistics, Consumer Price Index for all urban consumers (CPI-U), for the previous month converted by the USDA. 4/ Ratio of index of prices received to PPITW (1910-14=100). 5/ Based on estimated cash receipts, from marketings and government payments, the preliminary adjustment factor is 1.037 for 1998 and the revised factor is 1.040 for 1997. 6/ PPITW is adjusted based on productivity trend for the prior 15 years. Prices Paid Indexes and Annual Weights for Selected Production Input Sub-Components United States, March 1998 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :----------------------------- Index : 5-Year Moving Average : 1997 : 1998 :----------------------------------------------------- : 1997 : 1998 : Mar : Feb : Mar -------------------------------------------------------------------------------- : ---- Percent --- ----- (1990-92=100) ---- : Production Items : 66.8 67.0 116 113 112 : Feed : 11.4 11.6 127 *110 107 Feed Grains : 2.1 2.1 118 *109 108 Complete Feeds : 5.0 5.1 126 *109 105 Hay/Forages : 1.3 1.3 135 124 125 Concentrates : 1.8 1.8 135 *98 97 Supplements : 1.2 1.3 125 *114 106 Livestock & Poultry : 7.9 7.5 89 *94 91 Feeder Cattle : 6.2 5.9 84 *95 92 Feeder Pigs : .6 .6 121 *81 68 Milk Cow Replacements : .6 .6 96 95 95 Poultry : .5 .4 104 100 100 Seeds : 2.7 2.8 117 120 120 Field Crops : 2.5 2.5 117 119 119 Grasses/Legumes : .2 .3 120 130 130 Fertilizer : 4.7 4.8 124 114 113 Mixed Fertilizer : 2.1 2.1 118 *119 119 Nitrogen : 2.0 2.0 135 *111 110 Potash & Phosphate : .6 .7 109 *108 108 Agricultural Chemicals : 3.6 3.7 119 *123 122 Herbicides : 2.3 2.4 116 *119 117 Insecticides : .8 .8 129 *133 134 Fungicides/Other : .5 .5 117 *126 127 Fuels : 2.8 2.7 104 *82 77 Diesel : 1.5 1.4 99 *78 73 Gasoline : 1.0 1.0 110 *84 79 LP Gas : .3 .3 108 *93 90 Farm Supplies & Repairs : 5.7 5.4 117 118 118 Supplies : 1.9 1.8 114 114 114 Repairs : 3.8 3.6 118 120 120 Autos & Trucks : 1.3 1.4 110 *109 110 Autos : .2 .2 106 *105 105 Trucks : 1.1 1.2 111 110 110 Farm Machinery : 4.2 4.1 127 129 129 Tractors : .9 .9 125 128 128 Self-Propelled : 1.7 1.6 127 128 128 Other Machinery : 1.6 1.6 129 130 131 Building Materials : 2.6 2.7 118 118 118 Farm Services : 11.9 12.2 117 116 116 Custom Rates : 1.2 1.3 111 115 115 Other Services : 10.7 10.9 118 116 116 Rent : 8.0 8.1 119 124 124 Cash : 3.6 3.6 129 140 140 Share : 4.4 4.5 111 111 111 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios: United States, March 1998 With Comparisons -------------------------------------------------------------------------------- : 1997 : 1998 Feed Price Ratio 1/ :------------------------------ : Mar : Feb : Mar -------------------------------------------------------------------------------- Broiler-Feed: Pounds of Broiler Grower equal : in value to 1 pound of broiler, live weight : *4.5 4.8 4.9 Market Egg Feed: Pounds of Laying Feed equal : in value to 1 dozen Eggs : *8.6 *8.3 9.4 Hog-Corn: Bushels of Corn equal in value to : 100 pounds of Hog, live weight : *17.7 *14.0 13.9 Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : *2.26 *2.74 2.74 Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight : *24.3 *24.8 25.4 Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 5.0 5.2 5.3 ------------------------------------------------------------------------------- 1/ Effective January 1995, prices of commercial prepared feeds are based on current U.S. prices received for corn, soybeans, alfalfa hay, and all wheat. * Revised. Prices Used to Calculate Feed Price Ratios United States, March 1998 With Comparisons ------------------------------------------------------------------------------- : : 1997 : 1998 Commodity : :--------------------------------------------- : Unit : Mar : Feb : Mar ------------------------------------------------------------------------------- : : Dollars Broilers, Live : Lb : .380 .344 .352 Eggs, Market : Doz : .605 *.511 .571 Hogs, All : Cwt : *49.40 *35.70 35.20 Milk : Cwt : *13.50 14.70 14.50 Steers and Heifers : Cwt : 67.90 *63.30 64.20 Turkeys, Live : Lb : .378 .340 .346 Corn : Bu : 2.79 *2.55 2.53 Hay, Alfalfa, Baled : Ton : 116.00 106.00 104.00 Soybeans : Bu : 7.97 *6.57 6.42 Wheat, All : Bu : 3.93 *3.27 3.34 ------------------------------------------------------------------------------- * Revised. Feeder Livestock and Poultry: Prices Paid, United States, March 1998 With Comparisons ------------------------------------------------------------------------------- : : 1997 : 1998 ITEM : Unit :--------------------------------------------- : : Mar : Feb : Mar ------------------------------------------------------------------------------- : : Dollars Feeders and Stockers : : Cattle and Calves : Cwt : *71.30 *80.30 78.00 Pigs : Cwt : 111.00 74.00 62.50 ------------------------------------------------------------------------------- * Revised. Prices Paid by Farmers Definition: Prices paid by farmers represent the average costs of inputs purchased by farmers and ranchers to produce agricultural commodities. Conceptually, the average price when multiplied by quantity purchased should equal total producer expenditures for the item. Survey Procedures: The prices paid data are obtained from establishments that sell goods and services to farmers and ranchers. Annually, about 8,500 firms are randomly selected from lists by type of item sold with an average response rate in the range of 75-80 percent. Firms are asked to report the price for the specified item "most commonly bought by farmers" or that was the "volume seller". Approximately 135 items are surveyed each April to represent all production input items purchased. The survey reference period for most items is the 5 business days centered around the 15th of the month. Separate prices paid surveys are conducted for, agricultural chemicals, fuels, feed, fertilizer, machinery, and seed. Summary and Estimation Procedures: The annual April Paid Survey is summarized as a nonprobability survey. Average prices reported are aggregated to the region and U.S. level using weights available from expenditure data and other administrative sources. Price recommendations are prepared by the State Statistical Offices and Headquarters for review by the Agricultural Statistics Board in Washington, D.C. Also, the change in price level for individual items surveyed are combined to the regional and U.S. levels, and are published as prices paid indexes referenced to a specific base period. Prices paid indexes for new autos and trucks, building materials, farm supplies, motor supplies, and marketing containers are updated based on price changes measured in selected Bureau of Labor Statistics (BLS) indexes. Revisions: Any revisions are published in the monthly and in annual issues of "Agricultural Prices". The basis for revision must be supported by additional data that directly affect the level of the estimate. More revisions are likely in April when separate prices paid surveys are conducted, in lieu of BLS indexes, by the USDA to measure price change. Reliability: Current methods of summarization in April are not designed directly to calculate sampling errors. However, analytical measures approximate the U.S. relative sampling errors for major items around 10 percent. Any nonsampling errors are attributed to such things as the inability to obtain correct information, differences in interpreting questions or definitions, mistakes in coding or processing the data, etc. Efforts are made at each step in the survey process to minimize these nonsampling errors. Program Change: Effective January 1, 1995, the National Agricultural Statistics Service updated the weights and changed the construction of its prices paid and received by farmers indexes. A Federal Register Notice dated October 28, 1994 discussed these program modifications. A 1990-92 reference and base period replaced the 1977 reference and 1971-73 base weight period. Five-year moving average weights replaced the current fixed 1971-73 base period weights. The 1910-14=100 price indexes, required by statute for computing parity prices, were linked forward based on the changes in the new 1990-92=100 indexes. The new indexes were constructed by multiplying the ratios of the current prices to the base period prices by the moving average weights (adjusted for seasonal marketing patterns for the prices received indexes). Index Prices Received U.S. Prices and Indexes Page Page Narrative................ A-2 Cows, Beef............. A-18 Price Indexes............ A-3 Cows, Milk............. A-21 Prices Received Eggs................... A-20 U.S. Summary........... A-6-7 Flaxseed............... A-14 Selected Commodities... A-12 Fruit, Citrus.......... A-16 Upland Cotton and Rice: Hay.................... A-15 Prices and Marketings.. A-15 All Hogs............... A-19 Parity Prices............ A-22-23 Lambs.................. A-20 Reliability Statement.... A-25 Milk................... A-21 Oats................... A-13 Monthly State Prices Peanuts................ A-14 Potatoes............... A-17 Apples................... A-15 Sheep.................. A-20 Barley................... A-13 Sorghum, Grain......... A-13 Barrows and Gilts........ A-19 Soybeans............... A-13 Beans, Dry Edible........ A-14 Sows................... A-19 Beef Cattle.............. A-18 Steers and Heifers..... A-18 Broilers................. A-20 Sunflower.............. A-14 Calves................... A-18 Tobacco................ A-14 Corn..................... A-13 Turkeys................ A-20 Cotton................... A-15 Wheat.................. A-12 Cottonseed............... A-15 Special Features Wool, Marketing Year Averages, by State and United States, 1996-97 ......................................................... A-24 Mohair, Marketing Year Averages, by State and United States, 1996-97 ......................................................... A-24 Index Prices Paid Page Narrative .................................................. B-1 Indexes and Parity Ratios .................................. B-2-3 Charts ..................................................... B-4-6 Feed Ratios ................................................ B-7 Reliability ................................................ B-8 U.S. Average Prices: Feeder Livestock and Poultry ............................ B-7 Commodity Prices Used in Feed Price Ratios ............... B-7 Report Features Listed below are the commodity specialists in the Estimates Division of the National Agricultural Statistics Service to contact for additional information. Crops Branch C. Ray Halley, Chief (202) 720-2127 Field Crops Section Bill Dowdy, Head (202) 720-3843 Kevin Barnes - Oilseeds (202) 720-7369 Rhonda Brandt - Corn (202) 720-9526 Roger Latham - Cotton (202) 720-5944 Mark Miller - Oats (202) 720-7621 Jerry Ramirez - Barley, Sorghum (202) 690-3234 Barbara Rater - Peanuts, Rice (202) 720-7688 Vaughn Siegenthaler - Wheat (202) 720-8068 Fruit and Vegetable Section Vince Matthews, Head (202) 720-3843 Arvin Budge - Potatoes (202) 720-4285 Dave DeWalt - Citrus (202) 720-5412 Doug Hartwig - Hay (202) 720-8843 Howard Hill - Grapes (202) 720-7235 Dave Mueller - Vegetables (202) 720-2157 Linda Simpson - Dry Beans, Peaches, Pears (202) 690-0270 Debbie Williams - Apples, Tobacco, Strawberries (202) 720-4288 Commodity Prices Coordinator Charles Van Lahr (202) 720-5446 Kirby Cavett - Prices Received Indexes (202) 690-3237 Livestock and Economic Branch Robert W. Milton, Chief (202) 720-3570 Livestock Section Dan Kerestes, Head (202) 720-4447 Dean Groskurth - Cattle (202) 720-3040 James Hand - Sheep, Lambs, Milk (202) 690-3236 Greg Matli - Hogs (202) 720-3106 Poultry and Specialty Commodities Section Alfonzo Drain, Head (202) 720-6351 Dan Boostrum - Eggs (202) 720-3244 James Brewster - Turkeys (202) 720-8784 Tom Krutchen - Broilers, Honey (202) 690-4870 Farm Inputs Section (Prices Paid) Mark Harris, Head (202) 720-4214 Greg Thessen - Prices Paid Indexes, Feed, Fertilizer, Agricultural Chemicals, Seeds (202) 690-3347 Jim Williams - Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios, Grazing Fees, Autos & Trucks (202) 690-3225 The next "Agricultural Prices" report will be released at 3:00 p.m. ET on April 30, 1998. 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