Pr 1 (3-03) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released March 28, 2003, 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-9. March Farm Prices Received Index Unchanged From Last Month The preliminary All Farm Products Index of Prices Received by Farmers in March is 99, based on 1990-92=100, unchanged from the February index. Higher prices for tomatoes, onions, oranges, and chicken eggs offset lower prices for cattle, dairy, strawberries, and wheat. The seasonal change in the mix of commodities farmers sell, based on the past 3 year average, also affects the overall index. Increased average marketings for strawberries, tomatoes, dairy, and asparagus offset decreases for cattle, cotton, corn, and oranges. This preliminary All Farm Products Index is down 7 points (6.6 percent) from March 2002. Lower prices for lettuce, strawberries, potatoes, and celery more than offset higher prices for soybeans, corn, onions, and broilers. The Food Commodities Index increased 1 point (1.0 percent) above last month to 97, but is 12 points (11.0 percent) below March last year. Prices Paid Index Unchanged The March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 128 percent of the 1990-92 average. The index is unchanged from February but 5 points (4.1 percent) above March 2002. Lower prices in March for feeder cattle, herbicides, feed grains, and feeder pigs are offset by higher prices for nitrogen fertilizers, diesel fuel, LP gas, and feed concentrates. Index Summary Table -------------------------------------------------------------------------------- : 2002 : 2003 Index :-------------------------------------------------------------- 1990-92=100 : Feb : Mar : Feb : Mar -------------------------------------------------------------------------------- : Prices Received : 99 106 99 99 : Prices Paid : 123 123 128 128 : Ratio 1/ : 80 86 77 77 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Prices Received by Farmers The March All Farm Products Index is 99 percent of its 1990-92 base, unchanged from the February index but 6.6 percent below the March 2002 index. ALL CROPS: The March index is 106, up 2.9 percent from February but down 9.4 percent from March 2002. From February, index increases for commercial vegetables, fruits and nuts, and potatoes and dry beans more than offset the index decreases for tobacco, food grains, and cotton. Food Grains: The March index, at 100, is 3.8 percent below the previous month but 18 percent above March 2002. The March all wheat price, at $3.49 per bushel, is down 19 cents from February but 62 cents above March 2002. Feed Grains & Hay: The March index is 105, down 0.9 percent from last month but 15 percent above March 2002. The corn price, at $2.30 per bushel, is down 4 cents from last month but 36 cents above March 2002. The all hay price, at $92.80 per ton, is $1.00 above February and 50 cents greater than last March. Grain sorghum, at $3.97 per cwt, is down 17 cents from February but 74 cents above March last year. Oil-Bearing Crops: The March index, at 100, is unchanged from February but 27 percent greater than March 2002. The soybean price, at $5.58 per bushel, increased 3 cents from February and is $1.20 above March 2002. Cotton: The March index, at 73, is 2.7 percent below February but 55 percent above March 2002. The March price, at 44.5 cents per pound, is down 0.7 cents from the previous month but 16.1 cents above last March. Potatoes & Dry Beans: The March index, at 113, is up 1.8 percent from last month but 22 percent below March 2002. The all potato price, at $6.87 per cwt, is up 32 cents from February but $1.39 below last March. The all dry bean price, at $15.50 per cwt, is down $3.90 from the previous month and $11.60 below March 2002. Fruit & Nuts: The March index, at 86, is up 2.4 percent from the previous month but 9.5 percent below March 2002. Since February, the orange price increased $1.11 per box while the strawberry price dropped 26.8 cents per pound. Commercial Vegetables: The March index, at 128, is up 14 percent from last month but 53 percent below March 2002. Price increases during March for tomatoes, onions, cauliflower, asparagus, and celery more than offset price declines for snap beans, sweet corn, lettuce, carrots, and broccoli. The tomato price is up significantly due to frequent rains in Florida reducing available supplies. Also, reduced supplies of onions and cauliflower pushed prices higher. LIVESTOCK & PRODUCTS: The March index, at 94, is down 1.1 percent from last month and down 2.1 percent from March 2002. Compared with a year ago, prices are higher for all cattle, broilers, turkeys, and eggs but lower for all milk, hogs, and calves. Meat Animals: The March index, at 93, is down 2.1 percent from last month but up 1.1 percent from last year. The March hog price of $35.00 per cwt is up 70 cents from February but down $1.00 from a year ago. The March beef cattle price of $72.20 per cwt is down $1.80 from last month but up $1.60 from March 2002. Dairy Products: The March index, at 84, is down 3.4 percent from February and 13 percent below March 2002. The March all milk price of $11.00 per cwt is down 40 cents from February and down $1.70 from last year. The fluid grade and manufactured grade milk prices are each down 40 cents from the previous month. Poultry & Eggs: The March index, at 106, is up 2.9 percent from February and 5.0 percent above last year. March market egg prices, at 51.8 cents per dozen, increased 5.2 cents from February due to strength from exports. The March broiler price, at 34.0 cents per pound, is unchanged from February. Broiler stocks remain high with domestic demand good but exports weak. The March turkey price, at 35.1 cents per pound, is up 0.6 cent on limited volume. Table of Contents Prices Received U.S. Prices and Indexes Page Narrative ................ A-2 Price Indexes ............ A-5 Price Index Charts ....... A-6-7 Prices Received U.S. Summary ........... A-8-9 Charts ................. A-10-13 Selected Commodities ... A-14 Upland Cotton and Rice Prices and Marketings .. A-17 Parity Prices ............ A-24-25 Reliability Statement .... A-26 Monthly State Prices Apples ................... A-17 Barley ................... A-15 Barrows and Gilts ........ A-21 Beans, Dry Edible ........ A-16 Beef Cattle .............. A-20 Calves ................... A-20 Corn ..................... A-15 Cotton ................... A-17 Monthly State Prices, continued Page Cottonseed ............... A-17 Cows, Beef ............... A-20 Cows, Milk ............... A-23 Eggs ..................... A-22 Flaxseed ................. A-16 Fruit, Citrus ............ A-18 Hay ...................... A-17 All Hogs ................. A-21 Lambs .................... A-22 Milk ..................... A-23 Oats ..................... A-15 Peanuts .................. A-16 Potatoes ................. A-19 Sheep .................... A-22 Sorghum, Grain ........... A-15 Soybeans ................. A-15 Sows ..................... A-21 Steers and Heifers ....... A-20 Sunflower ................ A-16 Tobacco .................. A-16 Wheat .................... A-14 Information Contacts .................................................B-9 Table of Contents Prices Paid Page Narrative ..................................................... B-1 Indexes and Parity Ratios ..................................... B-2-3 Charts ........................................................ B-4-6 Feed Ratios ................................................... B-7 Reliability Statement ......................................... B-8 U.S. Average Prices Feeder Livestock .......................................... B-7 Commodity Prices Used in Feed Price Ratios ................ B-7 Information Contacts .......................................... B-9 Index Numbers of Prices Received, United States, March 2003, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2002 : 2003 : 2002 : 2003 :Average:---------------------------------------------- :1990-92: Mar : Feb : Mar : Mar : Feb : Mar ------------------------------------------------------------------------------- : All Farm Products : 639 671 *628 630 106 99 99 : All Crops : 500 579 510 522 117 103 106 Food Grains : 325 270 *331 317 85 *104 100 Feed Grains & Hay : 363 327 *380 376 91 *106 105 Cotton : 517 240 *382 376 47 *75 73 Tobacco : 1263 1478 *1657 1383 98 109 91 Oil-Bearing Crops : 554 432 *548 549 79 100 100 Fruit & Nuts : 716 661 *584 600 95 *84 86 Commercial Vegetables : 698 1813 *751 853 271 *112 128 Potatoes & Dry Beans : 540 736 *561 571 145 *111 113 Other Crops : 493 558 567 567 113 115 115 : Livestock & Products : 768 733 *729 718 96 95 94 Meat Animals : 1021 937 *964 945 92 *95 93 Dairy Products : 799 780 *701 676 97 *87 84 Poultry & Eggs : 282 283 291 297 101 103 106 : Food Commodities : 109 *96 97 ------------------------------------------------------------------------------- * Revised. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Months, United States, 2002 and 2003 ------------------------------------------------------------------------------ : Index of Prices Received : Index of Prices Paid :-------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :-------------------------------------------------------------------- : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 ------------------------------------------------------------------------------ Jan : 95 99 94 103 97 96 122 127 117 122 Feb : 99 99 102 103 97 95 123 128 117 124 Mar : 106 99 117 106 96 94 123 128 118 124 Apr : 95 101 90 123 118 May : 98 106 90 123 118 Jun : 99 107 91 123 118 Jul : 100 111 89 124 119 Aug : 101 116 87 124 120 Sep : 100 111 86 125 121 Oct : 96 102 87 125 121 Nov : 97 104 90 125 121 Dec : 98 104 91 126 121 ------------------------------------------------------------------------------ Prices Received, United States, March 2003, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Mar : Feb : Mar : : : 2002 : 2003 : 2003 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 2.17 2.87 2.92 Feed : Bu : 1.90 1.75 2.20 2.35 Malting : Bu : 2.43 2.59 3.06 3.14 Beans, Dry Edible : Cwt : 19.10 27.10 19.40 15.50 Corn : Bu : 2.30 1.94 2.34 2.30 Cotton, Upland : Lb : .606 .284 .452 .445 Cottonseed : Ton : 96.00 111.00 : : Flaxseed : Bu : 4.27 4.75 6.19 6.30 Hay, All, Baled 1/ : Ton : 76.30 92.30 91.80 92.80 Alfalfa 1/ : Ton : 77.20 99.60 96.40 96.20 Other 1/ : Ton : 60.00 72.70 79.40 82.30 Oats : Bu : 1.22 1.99 2.09 1.94 Peanuts, In-Shell : Lb : .304 .190 .212 Potatoes : Cwt : 5.82 8.26 6.55 6.87 : : Rice, Rough : Cwt : 7.07 3.99 4.03 4.05 Sorghum Grain : Cwt : 3.75 3.23 4.14 3.97 Soybeans : Bu : 5.61 4.38 5.55 5.58 Sunflower 2/ : Cwt : 9.50 10.20 12.50 12.50 Tobacco : Lb : 1.740 1.700 1.905 1.590 : : Wheat, All : Bu : 2.96 2.87 3.68 3.49 Winter : Bu : 2.93 2.81 3.52 3.27 Durum : Bu : 2.86 3.33 4.24 4.13 Other Spring : Bu : 3.11 2.90 3.79 3.69 Hard Red Winter : Bu : 2.72 3.51 Soft Red Winter : Bu : 2.68 3.36 Hard Red Spring : Bu : 2.88 3.81 White : Bu : 3.24 3.14 3.61 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 1.66 1.89 1.37 Lemons : Box : 10.10 5.89 2.68 1.33 Oranges : Box : 5.79 4.64 3.48 4.59 Tangelos : Box : 5.82 Tangerines : Box : 15.11 10.15 10.23 10.19 Temples : Box : 6.23 1.18 2.60 2.94 : : Noncitrus : : Apples, Fresh 4/ : Lb : .212 .220 .246 .226 Grapes, Fresh 4/ : Ton : 506.00 Peaches, Fresh 4/ : Lb : .216 Pears, Fresh 4/ : Ton : 370.00 267.00 366.00 378.00 Strawberries, Fresh: Lb : .560 .873 .879 .611 ----------------------------------------------------------------------------- 1/ Mid-month price. 2/ KS, MN, ND and SD average. 3/ Current prices not published to avoid disclosure of individual firms. 4/ Equivalent packinghouse-door returns for CA, MI, and NY (apples only), and WA (apples, peaches, and pears). Prices as sold for other states. -- continued Prices Received, United States, March 2003, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Mar : Feb : Mar : : : 2002 : 2003 : 2003 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 119.00 96.30 98.70 Broccoli : Cwt : 22.50 33.80 29.10 29.00 Cantaloupes 2/ : Cwt : 13.90 Carrots : Cwt : 13.20 21.10 19.10 19.00 Cauliflower : Cwt : 26.80 44.10 30.50 37.60 Celery : Cwt : 11.60 23.50 11.80 13.90 Corn, Sweet : Cwt : 15.70 26.30 24.00 20.90 Cucumbers 2/ : Cwt : 22.90 Lettuce : Cwt : 11.90 86.40 10.90 10.20 Onions : Cwt : 12.80 6.92 15.70 24.50 Snap Beans 2/ : Cwt : 42.10 61.40 42.60 Tomatoes : Cwt : 32.30 38.50 29.80 55.40 : : Livestock : : : : Calves : Cwt : 94.30 105.00 97.30 96.40 Cattle, All Beef : Cwt : 72.90 70.60 74.00 72.20 Cows : Cwt : 49.60 41.50 38.90 39.80 Steers & Heifers : Cwt : 77.10 74.10 78.10 76.20 Milk Cows 3/ : Head : 1130.00 : : Hogs, All : Cwt : 47.70 36.00 34.30 35.00 Barrows & Gilts : Cwt : 48.40 36.30 34.90 35.60 Sows : Cwt : 39.50 30.00 23.20 24.20 : : Lambs : Cwt : 56.20 66.70 92.40 Sheep : Cwt : 23.40 31.80 43.60 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 12.70 11.40 5/11.00 Fluid Grade : Cwt : 13.10 12.70 11.40 5/11.00 Mfg Grade : Cwt : 11.80 11.30 10.30 5/ 9.90 : : Broilers, Live 6/ : Lb : .317 .320 .340 .340 Eggs, All 7/ : Doz : .643 .685 .640 .687 Market 7/ : Doz : .546 .515 .466 .518 Turkeys, Live 6/7/ : Lb : .380 .329 .345 .351 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .678 .615 .687 Milk, All 4/ : Cwt : 9.71 12.96 12.00 11.34 ----------------------------------------------------------------------------- 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 3.72, fluid milk 3.72, mfg grade 3.88. 6/ Liveweight equivalent price to producers, includes growers and contractors combined. 7/ Mid-month price. Wheat: Prices Received, by States, February and March 2003 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat 1/ : Oth Spring Wheat State :------------------------------------------------------------------------ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ ------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3.39 4/ 3.39 4/ CA : 4/ 4/ 4/ 4/ 5/ 5/ CO : 3.50 3.31 3.50 3.31 4/ 5/ ID : 3.54 3.38 3.41 3.30 3.72 3.50 IL : 3.42 3.20 3.42 3.20 IN : 3.04 2.94 3.04 2.94 KS : 3.48 3.29 3.48 3.29 MI : 3.17 3.00 3.17 3.00 MN : 3.79 3.70 5/ 5/ 3.79 3.70 MO : 3.67 3.40 3.67 3.40 MT : 3.93 3.84 3.73 3.50 4.75 4.60 3.84 3.80 NE : 3.55 3.35 3.55 3.35 ND : 3.85 3.79 3.53 5/ 4.12 4.00 3.74 3.70 OH : 3.31 3.03 3.31 3.03 OK : 3.46 3.21 3.46 3.21 OR : 3.64 3.27 3.64 3.25 3.68 3.35 SD : 3.82 3.67 3.62 3.49 3.91 3.75 TX : 3.21 3.17 3.21 3.17 WA : 3.76 3.33 3.73 3.29 3.88 3.53 : US : 3.68 3.49 3.52 3.27 4.24 4.13 3.79 3.69 ------------------------------------------------------------------------------- 1/ Durum discontinued September 2001 for MN and SD. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual firms. 5/ Insufficient sales to establish a price. Prices Received for Selected Agricultural Commodities, by Months, United States, 2002 and 2003 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 2002 :2003 2/:2002 :2003 2/: 2002 :2003 2/: 2002 :2003 2/: 2002 :2003 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 2.87 3.89 1.97 2.33 4.22 5.52 67.40 73.20 37.60 33.00 Feb : 2.83 3.68 1.93 2.34 4.22 5.55 70.00 74.00 38.50 34.30 Mar : 2.87 3.49 1.94 2.30 4.38 5.58 70.60 72.20 36.00 35.00 Apr : 2.83 1.91 4.47 67.30 31.70 May : 2.81 1.93 4.64 65.10 33.20 Jun : 2.93 1.97 4.88 64.00 35.80 Jul : 3.21 2.13 5.35 63.70 39.20 Aug : 3.63 2.38 5.53 64.40 31.90 Sep : 4.21 2.47 5.39 64.50 26.50 Oct : 4.37 2.34 5.19 64.60 30.80 Nov : 4.25 2.27 5.46 67.30 27.80 Dec : 4.06 2.32 5.46 70.40 30.30 ------------------------------------------------------------------------------- 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 2003 ------------------------------------------------------------------------------ : 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 : 5.74 5.75 4.48 4/ CA : 4/ 4/ CO : 2.81 2.82 2.53 2.50 ID : 3.17 3.11 IL : 2.35 2.35 5/ 5/ 5.68 5.70 4.50 4.40 IN : 2.44 2.41 5.69 5.69 IA : 2.23 2.20 2.20 2.00 5.50 5.50 KS : 2.48 2.45 5.47 5.45 4.13 3.93 KY : 2.73 2.65 5.77 5.75 LA : 5.61 4/ MI : 2.36 2.35 1.84 1.84 5.63 5.60 MN : 2.28 2.24 2.15 2.18 1.94 1.90 5.46 5.49 MS : 5.49 5.64 MO : 2.52 2.40 5.59 5.60 4.13 4.05 MT : 2.81 2.89 1.83 5/ NE : 2.34 2.30 2.44 2.30 5.45 5.46 4.35 4.11 NC : 2.98 2.99 5.57 5.67 ND : 2.87 2.96 2.17 2.20 1.79 1.50 5.38 5.40 OH : 2.50 2.44 4/ 4/ 5.69 5.72 OK : 4.00 3.89 OR : 2.34 2.45 4/ 5/ PA : 2.94 2.94 2.34 2.34 SD : 4/ 4/ 2.19 2.17 2.25 2.13 5.41 5.38 TN : 2.60 2.55 5.76 5.75 TX : 2.59 2.50 5/ 5/ 4.10 4.00 UT : 2.52 2.46 WA : 2.76 2.55 WI : 2.20 2.20 1.77 1.70 5.29 5.40 WY : 3.06 3.43 : US : 2.87 2.92 2.34 2.30 2.09 1.94 5.55 5.58 4.14 3.97 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for March 2003 is $1.91. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual firms. 5/ Insufficient sales to establish a price. Malting and Feed Barley: Prices Received Selected States, February and March 2003 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Feb : Mar : Feb : Mar ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 3.18 3.15 2.29 2.25 MN : 2.30 2.25 2.02 2.05 MT : 3.15 3.28 2.18 2.17 ND : 3.06 3.15 1.94 1.90 SD : 2/ 2/ 1/ 2/ WY : 1/ 1/ 2.09 2.10 ------------------------------------------------------------------------------ 1/ Price not published to avoid disclosure of individual firms. 2/ Insufficient sales to establish a price. Field Crops: Prices Received, by States, February and March 2003 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/5/ State :----------------------------------------------------------------------- :Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 3/: Feb 1/: Mar 3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : 7/ 6/ CA : 32.60 32.70 CO : 18.50 18.20 FL : 6/ 6/ GA : 7/ 7/ ID : 18.80 18.10 IN : 1.850 1.640 KS : 7/ 7/ KY : 1.925 1.660 MD : MI : 15.70 14.00 MN : 18.50 17.40 7/ 7/ MO : NE : 16.60 16.20 NC : .266 .266 ND : 12.70 12.30 12.50 12.50 6.19 6.30 OH : 1.835 OK : SC : SD : 12.60 12.50 6/ 6/ TN : 1.800 1.260 TX : 6/ 6/ VA : 1.765 7/ 7/ WV : : US : 19.40 15.50 12.50 12.50 6.19 6.30 1.905 1.590 .190 .212 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ Based on sales through first half of month. 4/ In-shell. 5/ Includes additional loan peanuts at loan value. 6/ Sales volume insufficient to establish a state price, but all sales included in U.S. price. 7/ Price not published to avoid disclosure of individual firms. Tobacco: Prices Received, by Area and Type, March 2003, with Comparisons ------------------------------------------------------------------------------ : : Mar : Feb : Mar Class and Type : Type : 2002 : 2003 : 2003 1/ ------------------------------------------------------------------------------ : : Dollars per Pound : : Fire-cured : : Eastern District : 22 : 1.815 1.590 1.270 Western District : 23 : 1.635 1.615 1.345 Total Fire-cured : 21-23: 1.795 1.595 1.290 : : Light Air-cured : : Burley : 31 : 2/ 1.925 1.760 Southern MD Belt : 32 : 1.680 3/ 3/ Total Light Air-cured : 31-32: 1.680 1.925 1.760 : : Dark Air-cured : : One Sucker Belt : 35 : 2/ 1.035 4/ Green River Belt : 36 : 2/ 1.410 4/ Total Dark Air-cured : 35-37: 2/ 1.285 4/ : : US : 11-37: 1.700 1.905 1.590 ------------------------------------------------------------------------------ 1/ Based on sales during the first half of the month. 2/ Markets closed in February 2002. 3/ Markets opened for Maryland type 32 on 3/25/03. 4/ Markets closed in February 2003. Field Crops and Apples: Prices Received, by States, February and March 2003 ---------------------------------------------------------------------------- : : 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 : 6/ 6/ AZ : 6/ 6/ 98.00 98.00 90.00 AR : .436 .432 CA : 6/ 6/ 95.00 97.00 81.00 .207 CO : 112.00 109.00 145.00 GA : .437 .430 ID : 87.00 90.00 68.00 IL : 96.00 105.00 76.00 IA : 78.00 81.00 57.00 KS : 87.00 90.00 70.00 KY : 73.00 105.00 61.00 LA : .447 .452 MI : 103.00 105.00 90.00 .210 MN : 69.00 73.00 49.00 MS : .446 .430 MO : 69.00 112.00 53.00 MT : 84.00 85.00 72.00 NE : 81.00 82.00 76.00 NV : 96.00 95.00 100.00 NM : 143.00 147.00 121.00 NY : 107.00 135.00 85.00 .269 NC : .439 .432 ND : 67.00 74.00 52.00 OH : 120.00 168.00 96.00 .330 OK : 85.00 98.00 64.00 OR : 84.00 85.00 80.00 PA : 145.00 168.00 133.00 .226 SD : 80.00 84.00 60.00 TN : .433 .436 TX : .443 .443 75.00 146.00 64.00 UT : 88.00 90.00 63.00 VA : WA : 113.00 103.00 132.00 .222 WI : 74.00 80.00 55.00 WY : 113.00 114.00 109.00 : US : .452 .445 92.80 96.20 82.30 .226 ---------------------------------------------------------------------------- 1/ Entire month. 2/ Based on sales during the first half of the month. 3/ Mid-month. 4/ Equivalent packinghouse-door returns for CA, MI, NY and WA. Price at point of first sale for other states. 5/ Marketing year August-February. 6/ Price not published to avoid disclosure of individual firms. Upland Cotton and Rice: Prices Received and Marketings, United States, March 2003, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Jan 2003 1/ : Feb 2003 1/ :Mar 2003 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .440 .452 .445 Marketings 3/ : 1,000 Bales : 1980 1374 NA : : Rice : : Average Price : Dollars/Cwt : 4.29 4.03 4.05 Marketings 4/ : 1,000 Cwt : 20748 14500 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 2003 ------------------------------------------------------------------------------ : : 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 : 12.30 5.93 5.93 3.66 3.66 : CA : 14.30 7.68 7.93 -0.26 5.41 5.66 -2.53 : FL : 14.90 3.73 6.64 2.41 1.32 4.44 -0.09 White : 16.60 3.08 7.60 2.45 0.70 5.40 0.05 Colored : 14.50 4.39 6.40 2.35 1.95 4.20 -0.35 : TX : 13.90 2.42 4.11 0.80 1.28 2.94 -0.32 : US : 14.70 3.65 6.33 2.29 1.37 4.27 -0.11 : Lemons : AZ : 18.50 7.94 8.61 0.23 3.68 4.35 -4.03 CA : 19.20 5.51 9.31 0.23 1.25 5.05 -4.03 : US : 19.20 5.59 9.28 0.23 1.33 5.02 -4.03 : Oranges : AZ : Valencia : 19.10 12.32 12.32 9.93 9.93 : CA : 15.50 7.96 8.48 0.73 5.61 6.13 -1.63 Navel and Misc : 15.50 7.91 8.40 0.79 5.56 6.05 -1.56 Valencia : 15.90 8.39 9.12 0.36 6.00 6.73 -2.03 : FL : Valencia : 14.00 6.20 6.10 6.20 4.09 3.90 4.10 : TX : 13.30 3.31 3.41 2.98 2.00 2.08 1.70 Early and Mids : 13.30 3.35 3.41 2.98 2.02 2.08 1.70 Valencia : 13.30 3.20 3.41 2.98 1.90 2.08 1.70 : US : 15.40 6.77 8.26 6.01 4.59 5.94 3.90 : Tangerines : AZ : 19.60 12.01 12.69 0.73 9.57 10.25 -1.71 CA : 23.90 16.45 16.99 0.35 14.01 14.55 -2.09 FL : 23.00 11.40 14.00 5.90 7.57 10.30 1.80 : US : 23.30 13.42 15.39 5.50 10.19 12.34 1.52 : Temples : FL : 17.00 5.23 9.30 4.30 2.94 7.10 2.00 ------------------------------------------------------------------------------ 1/ Net lbs. per box: Grapefruit-AZ & CA-67, FL-85, TX-80; Lemons-76; Oranges-AZ & CA-75, FL-90, TX-85; Tangelos-90; Tangerines-AZ & CA-75, FL-95. Potatoes: Prices Received, by States, February and March 2003 ------------------------------------------------------------------------------ : : :: : : State : Feb : Mar :: State : Feb : Mar : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : :: ND - All 1/ : 6.10 6.05 CA - All : 17.00 15.00 :: - Fresh 2/ : 8.35 NA - Winter : 23.90 22.50 :: - Processing : 5.15 NA - Spring : :: OH : 8.90 11.10 - Summer : :: OR : 5.60 6.50 - Fall : 8.65 8.60 :: PA : 11.80 12.20 CO - All 1/ : 6.55 6.60 :: TX : - Fresh 2/ : 7.03 NA :: VA : FL : 28.80 25.10 :: WA - All : 6.10 6.10 ID - All 1/ : 4.60 5.15 :: - Processing : 5.60 NA - Fresh 2/ : 4.60 NA :: WI - All 1/ : 7.40 7.60 - Processing : 4.60 NA :: - Fresh 2/ : 7.30 NA ME : 7.10 7.35 :: - Processing : 6.75 NA MI : 8.10 8.70 :: : MN : 5.10 5.15 :: US - All 1/ : 6.55 6.87 NY : 10.20 10.90 :: - Fresh 2/ : 8.36 NA : :: - Processing : 5.37 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 2003 ------------------------------------------------------------------------------ : 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 : 40.60 42.50 79.90 77.00 79.50 76.70 96.20 94.90 AR : 35.60 36.30 76.50 76.40 64.20 64.40 89.40 89.50 CA : 36.50 38.50 78.50 75.50 56.20 56.30 91.00 92.50 CO : 41.10 39.90 78.90 77.00 78.50 76.60 90.30 90.30 FL : 39.70 42.30 75.00 76.00 46.80 49.00 91.20 96.00 GA : 38.80 40.20 72.10 72.10 50.80 53.00 90.60 89.50 ID : 38.90 39.50 78.50 77.10 69.80 68.10 94.00 93.00 IL : 38.00 37.50 78.00 76.50 77.20 75.70 92.50 91.50 IA : 38.00 37.50 74.50 73.00 73.80 72.30 89.00 89.30 KS : 39.70 40.80 79.20 76.90 78.00 75.80 99.30 99.60 KY : 36.00 36.00 73.00 73.00 64.10 64.10 86.00 86.00 LA : 37.70 38.00 75.40 73.00 48.30 47.80 89.60 88.00 MI : 37.50 38.50 66.00 67.00 57.50 58.50 90.00 88.00 MN : 40.60 42.50 75.10 74.00 66.10 65.80 86.90 88.00 MO : 36.80 37.30 80.00 78.20 65.30 69.20 93.40 92.60 MT : 40.80 41.10 80.00 76.20 73.70 71.30 93.50 94.00 NE : 39.80 41.10 77.40 76.50 76.30 75.40 99.30 97.90 NM : 39.80 41.60 80.10 75.50 64.00 63.30 94.20 92.70 ND : 39.90 40.00 76.60 75.00 71.80 70.80 89.40 88.00 OH : 33.70 32.00 71.10 69.00 67.40 65.30 74.60 74.00 OK : 39.80 38.40 77.80 74.70 75.10 72.20 94.40 92.80 OR : 39.30 40.50 77.00 76.00 65.70 65.40 91.00 92.00 PA : 39.10 38.60 73.90 71.60 64.90 63.00 115.00 112.00 SD : 39.40 39.80 77.80 74.20 73.60 70.80 95.70 96.10 TN : 35.00 35.00 72.00 73.00 57.20 57.80 85.00 85.00 TX : 37.20 38.30 79.90 76.80 76.90 73.70 97.70 97.10 VA : 34.30 34.70 66.00 65.20 54.30 57.00 72.00 70.00 WI : 39.80 40.00 69.60 70.00 52.30 52.60 118.00 110.00 WY : 40.30 40.80 79.60 76.70 73.30 71.30 99.50 97.00 : US : 38.90 39.80 78.10 76.20 74.00 72.20 97.30 96.40 ------------------------------------------------------------------------------ 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 2003 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : AR : 23.50 24.10 33.20 33.40 32.20 32.50 IL : 22.00 23.00 35.60 36.50 34.50 35.40 IN : 24.60 25.70 34.50 34.60 33.60 33.80 IA : 26.20 27.10 35.20 35.60 34.80 35.40 KS : 24.00 23.50 33.20 34.40 32.00 33.20 MI : 21.00 23.00 33.00 33.00 32.00 32.20 MN : 23.40 24.50 35.00 36.00 34.90 35.90 MO : 21.60 21.50 32.90 33.80 32.00 32.80 NE : 23.90 24.50 36.80 37.50 36.50 37.20 NC : 23.00 24.40 34.60 36.10 34.50 36.00 OH : 23.90 25.00 35.50 36.20 34.70 35.40 OK : 22.90 22.60 32.70 33.20 31.40 31.80 PA : 21.60 22.60 34.60 35.60 32.70 33.70 SD : 23.20 25.20 36.70 37.50 35.40 36.30 TX : 21.30 22.10 32.60 33.20 30.90 31.80 WI : 23.30 24.20 32.90 33.80 31.70 32.60 : US : 23.20 24.20 34.90 35.60 34.30 35.00 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by States, February and March 2003 ------------------------------------------------------------------------------ : February : March State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Eggs 2/3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dol/Doz : AL : .520 AR : .440 CA : 37.50 86.00 .500 CO : 42.00 93.10 CT : .610 FL : .510 GA : .484 ID : 39.00 88.00 IN : .550 IA : 46.60 87.20 .440 KS : 40.50 88.50 ME : .730 MI : .540 MN : 37.50 89.90 .510 MS : .440 MO : .440 MT : 43.50 103.00 NE : 42.00 94.50 NY : .560 NC : .500 ND : 36.00 91.00 OH : 41.00 94.30 .534 OR : 37.00 86.50 PA : .590 SC : .510 SD : 46.60 104.00 TX : 48.30 94.70 .530 UT : 41.00 91.00 WA : .575 WY : 48.50 107.00 : US : 43.60 92.40 .518 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, February and March 2003 ------------------------------------------------------------------------------ : 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 : AZ : 10.80 3.58 10.80 3.58 10.50 3.55 CA : 10.00 3.75 10.30 4.10 10.00 3.75 9.80 3.69 FL : 14.30 3.57 14.30 3.57 13.80 3.53 ID : 10.30 3.63 10.30 3.98 10.30 3.63 10.10 3.58 IL : 11.50 3.75 11.00 3.64 11.50 3.75 10.90 3.70 IN : 11.00 3.77 9.70 3.84 10.90 3.77 10.40 3.75 IA : 11.80 3.82 10.40 3.94 11.70 3.83 11.20 3.81 KY : 12.40 3.74 12.40 3.74 12.00 3.71 MI : 11.60 3.69 9.90 3.73 11.60 3.69 11.00 3.68 MN : 11.60 3.77 9.70 3.83 11.50 3.77 11.00 3.77 MO : 11.70 3.71 10.40 3.82 11.60 3.71 11.20 3.71 NM : 11.00 3.68 11.00 3.68 10.60 3.65 NY : 12.10 3.80 12.10 3.80 11.70 3.79 OH : 11.50 3.77 10.90 3.92 11.50 3.78 11.20 3.76 PA : 13.00 3.85 10.30 3.90 13.00 3.85 12.80 3.80 TX : 12.00 3.74 12.00 3.74 11.70 3.70 VT : 11.90 3.80 11.90 3.80 11.50 3.75 VA : 13.60 3.77 13.60 3.77 13.20 3.75 WA : 11.30 3.69 11.30 3.69 11.00 3.68 WI : 11.50 3.78 10.40 3.90 11.50 3.78 11.00 3.79 : US : 11.40 3.75 10.30 3.91 11.40 3.75 11.00 3.72 ------------------------------------------------------------------------------ 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 2003, with Comparisons ------------------------------------------------------------------------------ Item : Mar 2002 : Feb 2003 : Mar 2003 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 29.14 30.19 30.37 Average Price F.O.B.......Dol per Cwt : 11.30 10.30 2/ 9.90 Average Fat Test of Milk..Percent : 3.88 3.91 2/3.88 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 2003 is 90.4 percent of the parity price of all milk sold to plants, compared with 90.5 percent in 2002. For additional details, see January 2003 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 2003, 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 : : 2002 : 2003 : 2003 : 2002: 2003: 2003 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .569 9.38 9.63 9.71 31 38 36 Rice, Cwt : 1.56 25.10 26.40 26.60 16 15 15 Corn, Bu : .389 6.35 6.59 6.64 31 36 35 Cotton, Lb : American Upland : .100 1.60 1.69 1.71 18 27 26 Extra Long Staple : .140 2.27 2.37 2.39 Peanuts, Lb : .0388 .650 .657 .662 29 32 Tobacco, By Type, Lb : Flue-Cured 11-14 : .256 4.13 4.33 4.37 VA Fire-Cured, 21 : .259 4.16 4.38 4.42 KY-TN Fire-Cured, 22-23 : .320 5.17 5.42 5.46 35 29 24 Burley, 31 : .275 4.44 4.66 4.69 41 38 Maryland, 32 : .218 3.56 3.69 3.72 47 Dark Air-Cured, 35-36 : .276 4.37 4.67 4.71 28 Sun-Cured, 37 : .243 3.87 4.11 4.15 PA Seedleaf, 41 : .199 3.05 3.37 3.40 Cigar Filler & Binder, : 42-44, 54-55 : .221 3.53 3.74 3.77 Puerto Rican Filler, 46 : .163 2.80 2.76 2.78 Cigar Binder, 51-52 : .719 11.00 12.20 12.30 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.97 32.20 33.40 33.60 2/40 2/36 2/34 Honey, Extracted, Lb : 3/.0938 1.51 1.59 1.60 : Wool and Mohair : Wool, Lb : .0910 1.54 1.54 1.55 Mohair, Lb : .325 5.10 5.50 5.55 : Other Nonbasic : Barley, Bu : .385 6.24 6.52 6.57 35 44 44 Cottonseed, Ton : 15.60 254.00 264.00 266.00 42 Dry Edible Beans, Cwt : 2.97 47.00 50.30 50.70 58 39 31 Flaxseed, Bu : .703 11.10 11.90 12.00 43 52 53 Oats, Bu : .243 3.87 4.11 4.15 51 51 47 Potatoes, Cwt : .813 13.20 13.80 13.90 63 47 49 Rye, Bu : .343 5.52 5.81 5.86 Sorghum Grain, Cwt : .658 10.80 11.10 11.20 30 37 35 Soybeans, Bu : .851 13.90 14.40 14.50 32 39 38 Sweetpotatoes, Cwt : 2.19 35.30 37.10 37.40 Apples, Fresh, Lb 4/ : .0287 .468 .486 .490 47 51 46 Citrus (equiv on-tree),box: Grapefruit : .388 7.14 6.57 6.62 23 29 21 Lemons : 1.10 17.50 18.60 18.80 34 14 7 Limes (FL) : 1.31 20.40 22.20 22.40 Oranges : .570 10.40 9.65 9.73 45 36 47 Tangerines : 1.46 25.10 24.70 24.90 40 41 41 Temples (FL) : .463 8.54 7.84 7.90 14 33 37 Beef Cattle, Cwt : 9.46 155.00 160.00 161.00 46 46 45 Calves, Cwt : 12.70 206.00 215.00 217.00 51 45 44 Hogs, Cwt : 6.03 100.00 102.00 103.00 36 34 34 Lambs, Cwt : 10.90 175.00 185.00 186.00 38 50 Sheep, Cwt : 4.65 74.00 78.70 79.40 43 55 Eggs, Doz : .0933 1.51 1.58 1.59 2/45 2/39 2/43 Turkeys, Live, Lb : .0579 .943 .980 .988 35 35 36 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for March 2003, 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 : .255 4.35 : Processing 5/ : Spearmint Oil, Lb: 1.59 27.10 : Excl Dried : Tobacco, Lb : : Clingstone, : Type 61 : 2.51 42.80 : CA, Ton : 33.00 563.00 : : Pears, Ton : Noncitrus Fruit : : Fresh 4/ : 51.70 883.00 Apples, Ton 6/ : : Dried, CA 6/ : 161.00 2750.00 Processing : 18.00 307.00 : Plums, CA, Ton : Apricots, Ton : : Fresh, Equiv : Fresh 7/ : 103.00 1760.00 : on-Tree : 57.20 976.00 Dried, CA : 284.00 4850.00 : Prunes, Dried, : Avocados, Ton 7/ : 218.00 3720.00 : CA, Ton 6/ : 132.00 2250.00 Cherries : : Prunes and Plums,: Sweet, Ton : 181.00 3090.00 : Excl CA, Ton : Tart, Lb : .0229 .391 : Fresh 9/ : 53.50 913.00 Cranberry, Bbl 5/: 6.23 106.00 : Processing 6/ : Dates, CA, Ton 7/: 161.00 2750.00 : Excl Dried : 24.90 425.00 Grapes, Ton : : : Raisin Variety : 130.00 2220.00 :Tree Nuts 10/ : Other Dried : 68.50 1170.00 : Almonds, Lb : .211 3.60 Kiwifruit, Ton : 74.00 1260.00 : Hazelnuts, Ton : 124.00 2120.00 Nectarines : : Pistachio, Lb : .160 2.73 Fresh, Calif, : : Walnuts, Ton : 181.00 3090.00 Ton 7/ : 64.10 1090.00 : : Olives, CA : :Vegetables, Cwt 11/: Canning, Ton 5/: 96.80 1650.00 : Fresh : Papayas (HI) Lb : .0508 .867 : Carrots 8/ : 2.11 36.00 Peaches : : Cauliflower 8/ : 4.53 77.30 Fresh, Lb 4/ : .0397 .678 : Celery 8/ : 2.00 34.10 Dried, CA, : : Honeydew Melons : 2.78 47.50 Ton : 97.00 1660.00 : Lettuce : 2.47 42.20 : : Onions 8/ : 1.66 28.30 : : Tomatoes : 4.31 73.60 ------------------------------------------------------------------------------- 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 average prices weighted by production. For 1982 through 1985 the national averages are the support prices. 4/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (except peaches), and WA. Price at point of first sale for other states. 5/ Equivalent returns for bulk fruit at first delivery point. 6/ Equivalent returns at processing plant door. 7/ Equivalent returns at packinghouse door. 8/ Includes some processing. 9/ Based on "as sold" prices for fresh fruit in all states. 10/ Prices in-shell basis except almonds which are shelled basis. 11/ F.O.B. shipping point prices. 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 preliminary price represents a 3-5 day period around the 15th of the 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) is 128 (1990-92=100), unchanged from February 2003 but 4.1 percent above March 2002. PRODUCTION INDEX: The March Farm Production, Goods, and Services Index, at 124, is unchanged from last month but 5.1 percent above a year earlier. Lower prices in March for feeder cattle, herbicides, feed grains, and feeder pigs offset higher prices for nitrogen fertilizers, diesel fuel, LP gas, and feed concentrates. Feed: The Feed Index, at 119, is the same as February but 9.2 percent above March 2002. Slightly lower prices during March for feed grains and feed supplements offset slightly higher prices for feed concentrates and hay and forages. Livestock and Poultry: The Index for Livestock and Poultry purchases, at 98, is 3.0 percent lower than last month and 7.5 percent below last year. The March feeder cattle price, at $78.00 per cwt, and the feeder pig price, at $112.00, are down $3.30 and $5.00 per cwt, respectively, from February. Fertilizer: The Fertilizer Index, at 126, is up 4.1 percent from February and 18 percent more than March a year ago. Higher prices for nitrogen fertilizers account for the index increase. Agricultural Chemicals: The Chemical Index, at 116, is down 1.7 percent from last month and 2.5 percent below last March. Lower March prices for herbicides account for the index decline. Fuels: The Fuels Index, at 187, is up 8.1 percent from a month earlier and 85 percent above March 2002. Compared to last month, prices are higher for diesel fuel, LP gas, and gasoline. Farm Machinery: The March Farm Machinery Index is 145, unchanged from February but 1.4 percent below last March. CONSUMER PRICE INDEX: The February 2003 Consumer Price Index for all urban consumers (CPI-U) increased 0.8 percent before seasonal adjustment to a level of 183.1 (1982-84=100). This compares to the January index of 181.7. For the 12-month period ending in February, the overall index has increased 3.0 percent. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, March 2003 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2002 : 2003 : 2002 : 2003 Ratios :---------------------------------------------- : Mar : Feb : Mar : Mar : Feb : Mar -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1637 *1701 1707 123 *128 128 Production : 1143 *1201 1206 118 *124 124 Feed : 530 *579 582 109 *119 119 Livestock and Poultry : 1359 *1296 1251 106 *101 98 Seeds : 1329 1426 1426 134 144 144 Fertilizer : 394 *444 463 107 121 126 Agricultural Chemicals : 735 *731 719 119 *118 116 Fuels : 783 *1336 1441 101 *173 187 Supplies & Repairs : 917 936 936 129 132 132 Autos & Trucks : 3093 *3074 3065 116 *116 115 Farm Machinery : 3694 3650 3650 147 145 145 Building Material : 1647 *1664 1671 121 122 123 Farm Services & Rent : 1421 *1437 1437 Farm Services : 120 121 121 Rent : 119 120 120 Interest 1/ : 2728 2599 2599 109 104 104 Taxes 2/ : 3378 3426 3426 126 128 128 Wage Rates : 5796 6022 6022 155 161 161 Production, Interest, Taxes, : & Wage Rates (PITW) : 1624 *1693 1699 121 *126 126 Family Living-CPI 3/ : 1698 *1739 1739 133 *136 136 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 86 *77 77 Parity Ratio 4/ : 41 37 37 Parity Ratio Adjusted 5/ : 44 40 40 PPITW Adjusted for : Productivity 6/ : 1149 *1174 1174 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 125 *131 131 Livestock Sector (PPITW) : 120 *125 125 -------------------------------------------------------------------------------- Farm Sector (Production) : 112 117 116 Non-Farm Sector (Production) : 121 *127 128 -------------------------------------------------------------------------------- * 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 1.086 for 2003 and the revised factor is 1.069 for 2002. 6/ PPITW is adjusted based on productivity trend for the prior 15 years. Prices Paid Indexes and Annual Weights for Input Components and Sub-Components United States, March 2003 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 1/ : 2002 : 2003 :----------------------------------------------------- : 2002 : 2003 : Mar : Feb : Mar -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 66.9 66.9 118 *124 124 : Feed : 11.3 11.3 109 *119 119 Feed Grains : 1.6 1.6 85 103 101 Complete Feeds : 5.5 5.5 111 *122 122 Hay/Forages : 1.4 1.4 119 120 122 Concentrates : 1.8 1.8 105 *113 119 Supplements : 0.9 0.9 124 131 130 Livestock & Poultry : 6.8 6.8 106 *101 98 Feeder Cattle : 5.3 5.3 99 96 92 Feeder Pigs : 0.5 0.5 138 *127 122 Milk Cow Replacements : 0.6 0.6 143 121 121 Poultry : 0.4 0.4 109 109 109 Seeds : 3.1 3.1 134 144 144 Field Crops : 2.8 2.8 136 147 147 Grasses/Legumes : 0.3 0.3 118 118 118 Fertilizer : 4.7 4.7 107 121 126 Mixed Fertilizer : 2.1 2.1 104 *104 104 Nitrogen : 2.0 2.0 110 *143 154 Potash & Phosphate : 0.7 0.7 109 111 111 Agricultural Chemicals : 3.9 3.9 119 *118 116 Herbicides : 2.5 2.5 112 *111 108 Insecticides : 0.9 0.9 138 137 137 Fungicides/Other : 0.6 0.6 119 120 120 Fuels : 2.7 2.7 101 *173 187 Diesel : 1.5 1.5 100 *178 189 Gasoline : 0.8 0.8 103 *150 158 LP Gas : 0.4 0.4 107 *203 237 Farm Supplies & Repairs : 5.5 5.5 129 132 132 Supplies : 1.8 1.8 122 124 124 Repairs : 3.7 3.7 133 136 136 Autos & Trucks : 1.7 1.7 116 *116 115 Autos : 0.2 0.2 111 109 108 Trucks : 1.5 1.5 117 *117 116 Farm Machinery : 4.0 4.0 147 145 145 Tractors : 0.9 0.9 140 140 140 Self-Propelled : 1.6 1.6 146 142 142 Other Machinery : 1.5 1.5 152 152 152 Building Materials : 3.1 3.1 121 122 123 Farm Services : 12.3 12.3 120 121 121 Custom Rates : 1.3 1.3 120 120 120 Other Services : 11.1 11.1 120 121 121 Rent : 7.7 7.7 119 120 120 Cash : 4.2 4.2 143 145 145 Share : 3.6 3.6 91 91 91 Interest : 4.8 4.8 109 104 104 Taxes : 3.0 3.0 126 128 128 Wage Rates : 7.3 7.3 155 161 161 Family Living-CPI : 18.0 18.0 133 *136 136 -------------------------------------------------------------------------------- * Revised. 1/ Weights may not add due to rounding. Feed Price Ratios: United States, March 2003 with Comparisons -------------------------------------------------------------------------------- : 2002 : 2003 Feed Price Ratio 1/ :----------------------------- : Mar : Feb : Mar -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed : equal in value to 1 pound of broiler, live weight : 6.3 5.4 5.4 : Market Egg Feed: Pounds of Laying Feed equal in : Value to 1 dozen eggs : 11.6 *8.6 9.6 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 18.6 *14.7 15.2 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.89 *2.35 2.29 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 38.2 *33.4 33.1 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 6.8 5.7 5.9 -------------------------------------------------------------------------------- 1/ Effective June 1999, 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 2003 with Comparisons -------------------------------------------------------------------------------- : : 2002 : 2003 Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.320 0.340 0.340 Eggs, Market : Doz : 0.515 0.466 0.518 : : Hogs, All : Cwt : 36.00 *34.30 35.00 Milk, All : Cwt : 12.70 *11.40 11.00 : : Steers and Heifers : Cwt : 74.10 *78.10 76.20 Turkeys, Live : Lb : 0.329 0.345 0.351 : : Corn : Bu : 1.94 *2.34 2.30 Hay, Alfalfa, Baled : Ton : 99.60 96.40 96.20 : : Soybeans : Bu : 4.38 *5.55 5.58 Wheat, All : Bu : 2.87 *3.68 3.49 -------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States March 2003 with Comparisons -------------------------------------------------------------------------------- : : 2002 : 2003 Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 83.90 81.30 78.00 Feeder Pigs : Cwt : 127.00 *117.00 112.00 -------------------------------------------------------------------------------- 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. In April every year, 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 Prices 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. Monthly 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). Information Contacts General questions should be directed to Linda Hutton, Chief, Environmental, Economics and Demographics Branch at (202) 720-6146. Below are the commodity specialists to contact for additional information. Crop Prices Received Mark Harris, Chief, Crops Branch (202) 720-2127 Field Crops Section Greg Thessen, Head (202) 720-2127 Dave DeWalt - Cotton, Cottonseed (202) 720-5944 Herman Ellison - Oilseeds (202) 720-7369 Lance Honig - Wheat, Rye (202) 720-8068 Darin Jantzi - Corn, Proso Millet (202) 720-7235 Troy Joshua - Hay, Oats (202) 690-3234 Roy Karkosh - Sugarcane, Sugarbeets, Barley, Sorghum(202) 690-8140 Mark R. Miller - Peanuts, Rice (202) 720-7688 Fruit and Vegetable Section Jim Smith, Head (202) 720-2127 Arvin Budge - Potatoes, Dry Beans (202) 720-4285 Kathy Broussard - Citrus (202) 720-5412 Debbie Flippin - Peaches, Pears, Hops, Pulse crops, Mint(202) 720-3250 Terry O'Connor - Apples, Cherries, Apricots, Cranberries(202) 720-4288 Mike Miller - Grapes, Tobacco (202) 720-7235 Biz Wallingsford - Vegetables, Onions, Strawberries(202) 720-2157 Livestock Prices Received Dan Kerestes, Chief, Livestock Branch (202) 720-3570 Livestock Section Wil Hundl, Head (202) 720-3570 Steve Anderson - Cattle (202) 720-3040 Scott Hollis - Sheep (202) 720-4751 Ty Kalaus - Milk, Milk Cows (202) 690-3236 Rodger Ott - Hogs (202) 720-3106 Poultry and Specialty Commodities Section Nathan Crisp, Head (202) 720-3570 Tom Kruchten - Broilers, Eggs (202) 690-4870 John Lange - Turkeys (202) 720-0585 Indexes, Prices Paid, and Parity Prices Linda Hutton, Chief, Environmental, Economics and Demographics Branch (202) 720-6146 Economics Section Larry Beard, Head (202) 720-6146 Tara Jackson - Feed, Fertilizer, Agricultural Chemicals, Seeds (202) 690-3229 Jim Williams - Prices Paid Indexes, Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios, Grazing Fees, Autos & Trucks (202) 690-3225 Rhonda Brandt - Prices Received Indexes, Parity Prices(202) 720-5446 The next "Agricultural Prices" report will be released at 3:00 p.m. ET on April 30, 2003 The United States Department of Agriculture (USDA) prohibits discrimination in all its programs on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. 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