Pr 1 (5-03) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released May 30, 2003, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" call see page 43 at xxx, office hours 7:30 a.m. to 3:30 p.m. ET. May Farm Prices Received Index Up Sharply From Last Month The preliminary All Farm Products Index of Prices Received by Farmers in May is 107, based on 1990 - 92=100, up six points (5.9 percent) from the April Index. All commodity group indexes except potatoes and dry beans, tobacco, and the other crops category increased since last month. Higher prices for lettuce, hogs, broilers, and soybeans more than offset lower prices for eggs, asparagus, onions, and tomatoes. 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 of cantaloupes, grapes, sweet corn, and peaches offset decreased marketings of cattle, dairy, apples, and asparagus. The preliminary All Farm Products Index is up 11 points (12 percent) from May 2002. Higher prices for cattle, lettuce, corn, and soybeans more than offset lower prices for dairy, potatoes, sweet corn, and tomatoes. The Food Commodities Index increased 7 points (7.1 percent) above last month to 106, and is 11 points (12 percent) above May last year. Prices Paid Index Down 1 Point The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 127 percent of the 1990-92 average. The index is down 1 point from April but 4 points (3.3 percent) above May 2002. Lower prices in May for LP gas, diesel fuel, gasoline, and feeder pigs more than offset higher prices for nitrogen fertilizers, hay and forages, feed grains, and potash and phosphate materials. Index Summary Table -------------------------------------------------------------------------------- : 2002 : 2003 Index :-------------------------------------------------------------- 1990-92=100 : Apr : May : Apr : May -------------------------------------------------------------------------------- : Prices Received : 94 96 101 107 : Prices Paid : 123 123 128 127 : Ratio 1/ : 76 78 79 84 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Prices Received by Farmers The May Prices Received by Farmers Index for All Farm Products is 107 percent of its 1990 - 92 base, up 5.9 percent from the April index and 11 percent above the May 2002 index. ALL CROPS: The May index is 121, up 9.0 percent from April and 15 percent above May 2002. From April, index increases for fruits and nuts, commercial vegetables, oil-bearing crops, food grains, feed grains and hay, and cotton more than offset an index decrease for potatoes and dry beans. Food Grains: The May index, at 104, is up 6.1 percent from the previous month and 21 percent above May 2002. The May all wheat price, at $3.43 per bushel, is up 6 cents from April and 62 cents above May 2002. Feed Grains & Hay: The May index, at 112, is up 4.7 percent from last month and 18 percent above May 2002. The corn price, at $2.44 per bushel, is up 10 cents from last month and 51 cents above May 2002. The all hay price, at $99.20 per ton, is $4.70 above April but $3.80 below last May. Oil-Bearing Crops: The May index, at 111, is up 6.7 percent from April and 34 percent above May 2002. The soybean price, at $6.19 per bushel, is up 37 cents from April and $1.55 above May 2002. Potatoes & Dry Beans: The May index, at 118, is 4.8 percent below last month and 20 percent below May 2002. The all potato price, at $7.06 per cwt, is down 43 cents from the previous month and $1.56 below last May. The dry edible bean price, at $18.00 per cwt, is 80 cents below last month and $9.80 below May 2002. Cotton: The May index, at 77, is up 4.1 percent from April and 75 percent above May 2002. The May price, at 46.6 cents per pound, is up 1.6 cents from the previous month and 19.9 cents above last May. Fruits & Nuts: The May fruit and nut index, at 112, is up 18 percent from the previous month and 5.7 percent above May 2002. The grapefruit price, at $5.59 per box, is up $4.30 from April and $4.09 above May 2002. Commercial Vegetables: The May index, at 156, is up 15 percent from last month and 30 percent more than May 2002. The lettuce price, at $28.30 per cwt, increased $14.20 from a month ago and is $18.10 above last May. The cauliflower price, at $48.90 per cwt, is $21.30 above last month and $22.50 greater than May 2002. LIVESTOCK & PRODUCTS: The May index, at 96, is up 2.1 percent from last month and up 7.9 percent from May 2002. Compared with a year ago, prices are higher for all cattle, hogs, broilers, and eggs but lower for all milk, turkeys, and calves. Meat Animals: The May index, at 99, is up 3.1 percent from last month and up 17 percent from last year. The May hog price of $40.60 per cwt is up $5.80 from April and up $7.40 from a year ago. The May beef cattle price of $74.90 is up 30 cents from last month and up $9.80 from May 2002. Dairy Products: The May index, at 85, is up 1.2 percent from April but 8.6 percent below May 2002. The May all milk price of $11.10 per cwt is up 10 cents from April but down $1.00 from last year. The fluid grade milk price is unchanged from last month but the manufactured grade milk price is up 10 cents from the previous month. Poultry & Eggs: The May index, at 100, is up 1.0 percent from April and up 8.7 percent from a year ago. May market egg prices, at 39.7 cents per dozen, decreased 12.3 cents from April. The May broiler price, at 33.0 cents per pound, increased 2.0 cents from April. Broiler export market improving with good domestic demand. The May turkey price, at 34.4 cents per pound, is down 0.7 cents from last month. Table of Contents U.S. Prices Received and Indexes Indexes Page Narrative . . . . . . . . . . . . . . . . . . . . . 2 Price Indexes . . . . . . . . . . . . . . . . . . . 5 Price Index Charts . . . . . . . . . . . . . . . . . 6-7 U.S. Prices Received Summary . . . . . . . . . . . . 8-9 Charts . . . . . . . . . . . . . . . . . . . . . . . 10-13 Selected Commodities . . . . . . . . . . . . . . . 14 Upland Cotton & Rice Marketings . . . . . . . . . 17 Parity Prices . . . . . . . . . . . . . . . . . . . . 24-25 Reliability Statement . . . . . . . . . . . . . . . 33 Monthly State Prices Received Apples . . . . . . . . . . . . . . . . . . . . . . . . 17 Barley . . . . . . . . . . . . . . . . . . . . . . . . 15 Beans, Dry Edible . . . . . . . . . . . . . . . . . . 16 Beef Cattle, All . . . . . . . . . . . . . . . . . . . 20 Calves . . . . . . . . . . . . . . . . . . . . . . . 20 Cows, Beef . . . . . . . . . . . . . . . . . . . . . 20 Milk . . . . . . . . . . . . . . . . . . . . . . . 23 Steers and Heifers . . . . . . . . . . . . . . . . . 20 Corn . . . . . . . . . . . . . . . . . . . . . . . . . 15 Monthly State Prices, continued Page Cotton . . . . . . . . . . . . . . . . . . . . . . . . 17 Cottonseed . . . . . . . . . . . . . . . . . . . . . . 17 Eggs . . . . . . . . . . . . . . . . . . . . . . . . . 22 Flaxseed . . . . . . . . . . . . . . . . . . . . . . . 16 Fruit, Citrus . . . . . . . . . . . . . . . . . . . . 18 Hay . . . . . . . . . . . . . . . . . . . . . . . . . 17 Hogs, All . . . . . . . . . . . . . . . . . . . . . . 21 Barrows and Gilts . . . . . . . . . . . . . . . . . 21 Sows . . . . . . . . . . . . . . . . . . . . . . . . 21 Milk . . . . . . . . . . . . . . . . . . . . . . . . . 23 Oats . . . . . . . . . . . . . . . . . . . . . . . . . 15 Peanuts . . . . . . . . . . . . . . . . . . . . . . . 16 Potatoes . . . . . . . . . . . . . . . . . . . . . . . 19 Sheep . . . . . . . . . . . . . . . . . . . . . . . . 22 Lambs . . . . . . . . . . . . . . . . . . . . . . . 22 Sorghum, Grain . . . . . . . . . . . . . . . . . . . . 15 Soybeans . . . . . . . . . . . . . . . . . . . . . . . 15 Sunflowers . . . . . . . . . . . . . . . . . . . . . . 16 Tobacco . . . . . . . . . . . . . . . . . . . . . . . 15 Wheat, All Classes . . . . . . . . . . . . . . . . . . 14 Prices Received Special Features Tobacco Marketing Year Average Prices, by Type, State, and U.S., 2001-2002 26-27 Revised Monthly Prices, by Type, State, and U.S., 2001-2002 and 2002-2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . 28-29 Revised Monthly Prices, All Types by State and U.S., 2001-2002 and 2002-2003 . . . . . . . . . . . . . . . . . . . . . 32 Table of Contents (continued) U.S. Prices Paid, Prices Paid Indexes and Ratios Page Narrative . . . . . . . . . . . . . . . . . . . . 34 Indexes and Parity Ratios . . . . . . . . . . . . . . 35-36 Charts . . . . . . . . . . . . . . . . . . . . . . . 37-39 Feed Ratios . . . . . . . . . . . . . . . . . . . . 40 Reliability Statement . . . . . . . . . . . . . . . 42 U.S. Average Prices Commodity Prices Used in Feed Price Ratios . . . . 40 Feeder Livestock . . . . . . . . . . . . . . . . . 40 Special Features Feed: Price Ratios, January 2000 - May 2003 . . . . 41 Information Contacts . . . . . . . . . . . . . . . 43 Index Numbers of Prices Received, United States, May 2003, with Comparisons -------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2002 : 2003 : 2002 : 2003 :Average :--------------------------------------------- :1990-92 : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- : All Farm Products : 639 611 *643 681 96 101 107 : All Crops : 500 516 *546 596 105 111 121 Food Grains : 325 274 *312 330 86 *98 104 Feed Grains & Hay : 363 339 *382 400 95 107 112 Cotton : 517 226 380 394 44 74 77 Tobacco 1/ : 1,263 1,065 70 Oil-Bearing Crops : 554 455 *571 605 83 *104 111 Fruit & Nuts : 716 742 *663 781 106 *95 112 Commercial Vegetables : 698 801 *906 1,042 120 *136 156 Potatoes & Dry Beans : 540 748 *630 595 148 *124 118 Other Crops : 493 558 567 567 113 115 115 : Livestock & Products : 768 681 *718 734 89 *94 96 Meat Animals : 1,021 868 *974 1,005 85 96 99 Dairy Products : 799 744 *676 682 93 *84 85 Poultry & Eggs : 282 257 279 282 92 99 100 : Food Commodities : 95 99 106 -------------------------------------------------------------------------------- * Revised. 1/ Missing data indicate insufficient sales to establish a price. 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 96 96 122 126 117 121 Feb : 98 99 101 103 96 95 122 126 117 122 Mar : 105 99 117 105 94 93 123 127 118 122 Apr : 94 101 100 111 89 94 123 128 118 123 May : 96 107 105 121 89 96 123 127 118 123 Jun : 98 106 90 123 118 Jul : 100 111 88 123 119 Aug : 101 116 87 124 120 Sep : 99 111 85 125 121 Oct : 95 101 87 125 121 Nov : 97 104 89 125 121 Dec : 100 107 91 125 121 -------------------------------------------------------------------------------- Prices Received, United States, May 2003, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : May : Apr : May : : : 2002 : 2003 : 2003 -------------------------------------------------------------------------------- : : Dollars : : : : Field Crops : : : : Barley, All : Bu : 2.12 2.24 2.87 2.90 Feed : Bu : 1.90 1.89 2.22 2.47 Malting : Bu : 2.43 2.57 3.14 3.19 Beans, Dry Edible : Cwt : 19.10 27.80 18.80 18.00 Corn : Bu : 2.30 1.93 2.34 2.44 Cotton, Upland : Lb : 0.606 0.267 0.450 0.466 Cottonseed : Ton : 96.00 : : Flaxseed : Bu : 4.27 5.02 6.58 5.75 Hay, All, Baled 1/ : Ton : 76.30 103.00 94.50 99.20 Alfalfa 1/ : Ton : 77.20 108.00 96.20 102.00 Other 1/ : Ton : 60.00 79.20 86.40 87.30 Oats : Bu : 1.22 1.99 1.99 1.96 Peanuts, In-Shell : Lb : 0.304 0.184 0.239 Potatoes : Cwt : 5.82 8.62 7.49 7.06 : : Rice, Rough : Cwt : 7.07 3.98 4.33 4.51 Sorghum Grain : Cwt : 3.75 3.17 3.96 4.01 Soybeans : Bu : 5.61 4.64 5.82 6.19 Sunflower 2/ : Cwt : 9.50 10.50 12.50 12.40 Tobacco, Types 11-37: Lb : 1.740 1.225 : : Wheat, All : Bu : 2.96 2.81 3.37 3.43 Winter : Bu : 2.93 2.73 3.19 3.32 Durum : Bu : 2.86 3.41 3.98 3.86 Other Spring : Bu : 3.11 2.91 3.49 3.61 Hard Red Winter : Bu : 2.68 3.21 Soft Red Winter : Bu : 2.70 3.05 Hard Red Spring : Bu : 2.90 3.53 White : Bu : 3.24 3.03 3.14 : : Fruit : : : : Citrus-Equiv on-tree: : Grapefruit : Box : 5.77 1.50 1.29 5.59 Lemons : Box : 10.10 10.69 3.76 7.11 Oranges : Box : 5.79 4.47 4.46 4.57 Tangelos : Box : 5.82 Tangerines : Box : 15.11 17.77 10.51 9.85 Temples : Box : 6.23 : : Noncitrus, Fresh : : Apples 3/ : Lb : 0.212 0.215 0.234 0.218 Grapes 3/ : Ton : 506.00 1,000.00 1,030.00 Peaches 3/ : Lb : 0.216 0.475 0.495 Pears 3/ : Ton : 370.00 267.00 367.00 397.00 Strawberries : Lb : 0.560 0.634 0.695 0.691 -------------------------------------------------------------------------------- 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. Prices Received, United States, May 2003, with Comparisons (continued) -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : May : Apr : May : : : 2002 : 2003 : 2003 -------------------------------------------------------------------------------- : : Dollars : : : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 112.00 142.00 109.00 Broccoli : Cwt : 22.50 20.80 27.10 31.10 Cantaloupes 2/ : Cwt : 13.90 24.90 30.40 Carrots : Cwt : 13.20 21.30 19.40 19.90 Cauliflower : Cwt : 26.80 26.40 27.60 48.90 Celery : Cwt : 11.60 12.30 17.00 12.00 Corn, Sweet : Cwt : 15.70 20.80 15.10 16.00 Cucumbers 2/ : Cwt : 16.80 21.50 22.20 Lettuce : Cwt : 11.90 10.20 14.10 28.30 Onions : Cwt : 12.80 16.10 39.80 33.60 Snap Beans 2/ : Cwt : 34.80 67.70 51.50 Tomatoes : Cwt : 32.30 29.60 30.10 23.90 : : Livestock : : : : Calves : Cwt : 94.30 99.50 99.10 99.30 Cattle, All Beef : Cwt : 72.90 65.10 74.60 74.90 Cows : Cwt : 49.60 39.80 40.20 41.10 Steers & Heifers : Cwt : 77.10 68.10 78.80 79.00 Milk Cows 3/ : Head: 1,130.00 1,300.00 : : Hogs, All : Cwt : 47.70 33.20 34.80 40.60 Barrows & Gilts : Cwt : 48.40 33.60 35.30 41.10 Sows : Cwt : 39.50 23.50 26.00 29.20 : : Lambs : Cwt : 56.20 64.40 93.60 Sheep : Cwt : 23.40 25.30 30.90 : : Dairy and Poultry : : : : Milk, All 4/ 5/ : Cwt : 13.06 12.10 11.00 11.10 Fluid Grade 5/ : Cwt : 13.10 12.10 11.10 11.10 Mfg Grade 5/ : Cwt : 11.80 11.10 9.90 10.00 : : Broilers, Live 6/ : Lb : 0.317 0.300 0.310 0.330 Eggs, All 7/ : Doz : 0.643 0.505 0.690 0.587 Market 7/ : Doz : 0.546 0.301 0.520 0.397 Turkeys, live 6/ 7/: Lb : 0.380 0.358 0.351 0.344 : : Adjusted for Seasonal : : Variation : : Eggs, All : Doz : 0.545 0.526 0.651 0.581 Milk, All 4/ : Cwt : 9.71 13.30 11.58 11.94 -------------------------------------------------------------------------------- 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/ May 2003 Fat test percent: all milk 3.61, fluid milk 3.61, mfg grade 3.74. 6/ Equivalent liveweight returns to producers for most States. Includes growers and contractors. 7/ Mid-month price. Wheat: Prices Received, by States, April and May 2003 -------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat :Oth Spring Wheat State :----------------------------------------------------------------------- : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3.10 3.35 3.10 3.35 CA : 3/ 3/ 3/ 3/ 4/ 4/ CO : 3.22 3.30 3.22 3.30 4/ 4/ ID : 3.04 3.21 2.93 3.15 3.17 3.30 IL : 3.07 3.30 3.07 3.30 IN : 3.03 3.39 3.03 3.39 KS : 3.20 3.34 3.20 3.34 MI : 3.26 3.30 3.26 3.30 MN : 3.45 3.55 3/ 4/ 3.45 3.55 MO : 3.17 3.45 3.17 3.45 MT : 3.71 3.74 3.32 3.43 4.27 4.35 3.69 3.70 NE : 3.22 3.35 3.22 3.35 ND : 3.51 3.55 3/ 4/ 3.89 3.65 3.36 3.50 OH : 2.84 3.30 2.84 3.30 OK : 3.14 3.29 3.14 3.29 OR : 3.39 3.43 3.36 3.40 3.59 3.60 SD : 3.42 3.61 3.37 3.44 3.45 3.70 TX : 3.02 3.31 3.02 3.31 WA : 3.39 3.51 3.20 3.31 3.86 4.00 : US : 3.37 3.43 3.19 3.32 3.98 3.86 3.49 3.61 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual firms. 4/ Insufficient sales to establish a price. Prices Received for Selected Agricultural Commodities, by Months, United States, 2002 and 2003 2/ -------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/ : All Hogs Month :----------------------------------------------------------------------- : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 : 2002 : 2003 -------------------------------------------------------------------------------- : ---------- 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 3.54 1.94 2.33 4.38 5.60 70.60 72.70 36.00 34.70 Apr : 2.83 3.37 1.91 2.34 4.47 5.82 67.30 74.60 31.70 34.80 May : 2.81 3.43 1.93 2.44 4.64 6.19 65.10 74.90 33.20 40.60 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, April and May 2003 -------------------------------------------------------------------------------- : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain Month :----------------------------------------------------------------------- :Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/ :May 3/ -------------------------------------------------------------------------------- :----------------- Dollars per Bushel ----------------- Dollars per Cwt : AL : AR : 5.77 6.40 4.29 5/ CA : 4/ 4/ CO : 2.73 2.40 2.54 2.62 ID : 3.14 3.13 IL : 2.40 2.45 4/ 5/ 5.97 6.30 4.35 4.40 IN : 2.48 2.52 5.93 6.33 IA : 2.26 2.35 2.04 1.95 5.76 6.20 KS : 2.48 2.54 5.76 6.11 3.92 3.94 KY : 2.61 2.60 6.00 6.35 LA : 5.96 6.33 MI : 2.43 2.55 2.15 2.10 5.94 6.30 MN : 2.49 2.49 2.19 2.29 1.86 1.80 5.68 6.00 MS : 5.95 6.32 MO : 2.48 2.60 5.86 6.20 4.08 4.15 MT : 2.88 3.02 4/ 4/ NE : 2.31 2.35 2.48 2.40 5.76 6.10 4.03 3.95 NC : 2.88 3.12 6.09 6.47 ND : 2.85 2.74 2.20 2.30 1.76 1.70 5.61 6.00 OH : 2.51 2.62 2.10 2.10 5.95 6.32 OK : 3.90 3.90 OR : 2.51 2.60 5/ 5/ PA : 3.07 3.05 2.28 2.37 SD : 3.22 3.50 2.22 2.29 2.00 2.04 5.66 6.01 TN : 2.72 2.70 6.04 6.30 TX : 2.59 2.72 5/ 5/ 4.06 4.22 UT : 2.75 2.60 WA : 2.69 2.69 WI : 2.33 2.35 1.94 1.80 5.67 6.00 WY : 2.61 2.20 : US : 2.87 2.90 2.34 2.44 1.99 1.96 5.82 6.19 3.96 4.01 -------------------------------------------------------------------------------- 1/ The Three-State (MN, ND and SD) Feed Barley price for May 2003 is $2.00. 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, April and May 2003 -------------------------------------------------------------------------------- : Malting Barley : Feed Barley State :-------------------------------------------------------------- : Apr : May : Apr : May -------------------------------------------------------------------------------- : Dollars per Bushel : ID : 3.18 3.20 2.23 2.50 MN : 2.65 2.63 1.95 2.00 MT : 3.23 3.43 2.24 2.25 ND : 3.25 3.05 2.02 2.00 SD : 3.37 3.50 2.05 2/ WY : 2/ 2/ 2.14 2.20 -------------------------------------------------------------------------------- 1/ Price not published to avoid disclosure of individual firms. 2/ Insufficient sales to establish a price. Field Crops: Prices Received, by States, April and May 2003 -------------------------------------------------------------------------------- : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :--------------------------------------------------------------------- :Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 3/ -------------------------------------------------------------------------------- :------- Dollars per ------ Dollars per ------- Dollars per ------- :----------- Cwt ---------- -- Bushel -- ---------- Pound ---------- : AL : 6/ 7/ CA :32.20 33.00 CO :16.50 17.00 FL : 7/ 7/ GA : 7/ 6/ ID :17.00 17.20 IN : KS : 6/ 6/ KY : MD : 1.225 MI :17.70 14.50 MN :13.20 13.30 6/ 6/ MO : NE :17.40 17.50 NC : 6/ 6/ ND :13.30 13.30 12.60 12.70 6.58 5.75 OH : OK : SC : SD : 12.20 6/ 7/ 7/ TN : TX : 7/ 7/ VA : 6/ 6/ WV : : US :18.80 18.00 12.50 12.40 6.58 5.75 1.225 0.184 0.239 -------------------------------------------------------------------------------- 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/ Price not published to avoid disclosure of individual buyers. 7/ Sales volume insufficient to establish a state price, but all sales included in U.S. price. Field Crops and Apples: Prices Received, by States, April and May 2003 -------------------------------------------------------------------------------- : : May : Cotton, Upland :-------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :-----------------------------: Fresh : Apr 1/ : May 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ -------------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton -------- Dol/Lb : AL : 6/ 6/ AZ : 6/ 6/ 100.00 100.00 95.00 AR : 0.443 6/ CA : 6/ 6/ 98.00 100.00 85.00 CO : 103.00 100.00 145.00 GA : 0.437 0.438 ID : 87.00 87.00 69.00 IL : 86.00 94.00 71.00 IA : 79.00 79.00 56.00 KS : 77.00 78.00 65.00 KY : 85.00 110.00 64.00 LA : 0.447 0.437 MI : 99.00 100.00 85.00 0.200 MN : 72.00 73.00 55.00 MS : 0.437 0.437 MO : 69.00 107.00 50.00 MT : 78.00 79.00 68.00 NE : 77.00 77.00 74.00 NV : 92.00 93.00 90.00 NM : 144.00 148.00 121.00 NY : 110.00 130.00 80.00 0.293 NC : 6/ 6/ ND : 62.00 68.00 48.00 OH : 147.00 164.00 90.00 0.390 OK : 82.00 97.00 63.00 OR : 95.00 99.00 81.00 PA : 140.00 161.00 131.00 0.202 SD : 79.00 80.00 61.00 TN : 0.450 0.437 TX : 0.395 0.389 90.00 153.00 58.00 UT : 99.00 99.00 76.00 VA : WA : 117.00 105.00 137.00 0.210 WI : 74.00 80.00 55.00 WY : 104.00 105.00 99.00 : US : 0.450 0.466 99.20 102.00 87.30 0.218 -------------------------------------------------------------------------------- 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. 6/ Price not published to avoid disclosure of individual firms. Upland Cotton and Rice: Prices Received and Marketings, United States, May 2003, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Mar 2003 1/ : Apr 2003 1/ : May 2003 2/ -------------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : 0.473 0.450 0.466 Marketings 3/ : 1,000 Bales : 795 592 NA : : Rice : : Average Price : Dollars/Cwt : 4.14 4.33 4.51 Marketings 4/ : 1,000 Cwt : 16,069 16,445 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, May 2003 -------------------------------------------------------------------------------- : : Equivalent Returns Commodity, :F.O.B. :----------------------------------------------------- State :Packed : Packinghouse-door : On-tree and Type : Fresh :----------------------------------------------------- : : All : Fresh :Process : All : Fresh :Process -------------------------------------------------------------------------------- : --------------- Dollars per Box 1/ --------------- : Grapefruit : AZ : 15.40 9.03 9.03 6.76 6.76 CA : 19.40 12.02 13.03 -0.26 9.75 10.76 -2.53 FL : 15.30 4.09 6.99 2.43 1.67 4.79 -0.13 White : 15.10 3.25 6.10 2.40 0.90 3.90 Colored : 15.40 4.68 7.30 2.45 2.21 5.10 -0.25 TX : 15.50 2.92 5.71 0.80 1.78 4.54 -0.32 : US : 18.00 7.72 10.89 1.69 5.59 8.76 -0.43 : Lemons : CA : 29.50 11.37 19.61 0.23 7.11 15.35 -4.03 : US : 29.50 11.37 19.61 0.23 7.11 15.35 -4.03 : Oranges : AZ : Valencia : 9.20 2.12 2.42 0.74 -0.27 0.03 -1.65 : CA : 18.20 9.86 11.24 0.39 7.49 8.87 -1.97 Navel and Misc: 19.60 10.37 12.50 0.41 8.02 10.15 -1.94 Valencia : 16.90 9.35 10.12 0.36 6.96 7.73 -2.03 : FL : Valencia : 13.50 6.23 5.60 6.25 4.13 3.50 4.15 : TX : Valencia : 20.00 9.44 10.11 2.98 8.11 8.78 1.70 : US : 17.20 6.70 10.13 6.13 4.57 7.81 4.03 : Tangerines : CA : 25.60 10.27 18.69 0.35 7.83 16.25 -2.09 FL : 27.00 15.14 18.00 5.60 11.35 14.30 1.50 : US : 26.50 13.07 18.24 2.47 9.85 14.97 -0.64 -------------------------------------------------------------------------------- 1/ Net lbs. per box: Grapefruit - AZ&CA-67, FL-85, TX-80; Lemons - 76; Oranges - AZ&CA-75, FL-90, TX-85; Tangerines - CA-75, FL-95. Potatoes: Prices Received, by States, April and May 2003 ------------------------------------------------------------------------------- : : :: : : State : Apr : May :: State : Apr : May : : :: : : ------------------------------------------------------------------------------- : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : 12.40 :: ND - All 1/ : 6.80 6.50 CA - All : 22.20 17.60 :: - Fresh 2/ : 5.65 NA - Winter : 29.30 :: - Processing : 5.55 NA - Spring : 19.00 :: OH : - Summer : :: OR : 7.15 6.80 - Fall : 7.75 7.30 :: PA : 11.30 11.20 CO - All 1/ : 6.05 6.15 :: TX : 11.40 - Fresh 2/ : 6.01 NA :: VA : FL : 16.60 11.10 :: WA - All : 6.10 5.65 ID - All 1/ : 5.60 5.40 :: - Processing : 5.60 NA - Fresh : 4.70 NA :: WI - All 1/ : 7.05 6.65 - Processing : 4.50 NA :: - Fresh 2/ : 5.70 NA ME : 7.95 7.50 :: - Processing : 7.00 NA MI : 9.10 9.30 :: : MN : 5.95 5.50 :: US - All 1/ : 7.49 7.06 NY : 10.20 :: - Fresh 2/ : 9.37 NA : :: - Processing : 5.72 NA ------------------------------------------------------------------------------- 1/ Average price of potatoes sold for all uses, including table stocks, processing, seed and livestock feed. 2/ Fresh market prices only, includes table stock prices. Cattle: Prices Received, by States, April and May 2003 -------------------------------------------------------------------------------- : Cows 1/ :Steers & Heifers : Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Apr 2/ : May 3/ : Apr 2/ : May 3/ : Apr 2/ : May 3/ : Apr 2/ : May 3/ -------------------------------------------------------------------------------- : Dollars per Cwt : AZ : 41.40 40.50 78.80 79.30 78.40 78.90 94.00 90.00 AR : 37.10 37.60 78.00 79.20 65.70 66.70 91.10 90.40 CA : 39.50 43.00 78.50 78.50 59.00 61.10 95.00 96.50 CO : 41.00 42.10 79.90 81.90 79.50 81.50 96.80 96.30 FL : 38.90 38.70 76.30 76.00 45.60 45.40 93.20 91.40 GA : 39.30 39.30 73.90 73.20 51.80 50.80 92.70 90.70 ID : 40.00 41.90 77.40 77.30 68.40 68.80 96.00 95.00 IL : 39.00 39.20 80.00 80.70 79.20 79.90 95.50 96.00 IA : 40.00 40.00 75.70 75.20 75.30 74.50 93.00 93.20 KS : 40.20 40.80 78.60 78.90 77.10 77.40 100.00 103.00 KY : 38.00 40.00 76.00 78.00 66.90 68.90 90.00 91.00 LA : 37.50 37.00 75.70 76.00 48.60 49.10 89.30 88.00 MI : 40.00 40.00 68.00 70.00 59.60 61.00 88.00 91.00 MN : 44.10 44.50 76.50 76.00 67.80 67.50 93.70 94.00 MO : 38.40 39.00 83.70 84.30 72.80 73.00 96.70 96.70 MT : 43.50 43.40 82.90 84.50 75.80 66.80 95.40 98.60 NE : 40.30 40.30 80.30 80.80 79.10 79.60 106.00 107.00 NM : 39.70 39.00 78.20 80.40 65.10 66.30 95.90 92.20 ND : 42.80 43.50 78.70 80.00 72.60 70.90 91.40 92.00 OH : 36.40 37.00 73.20 75.00 69.50 71.20 80.10 85.00 OK : 40.40 40.90 76.80 76.80 72.40 72.50 96.40 94.80 OR : 40.70 41.40 79.00 80.00 67.50 68.40 93.50 94.00 PA : 39.20 41.20 74.60 75.80 65.40 66.80 113.00 118.00 SD : 40.40 43.60 77.50 77.80 72.70 71.60 100.00 100.00 TN : 37.00 38.00 77.00 78.00 61.00 62.00 88.00 88.00 TX : 38.40 37.90 79.00 77.80 75.80 74.20 99.50 97.40 VA : 34.60 35.60 70.50 71.00 62.20 57.50 86.00 86.00 WI : 40.70 41.90 72.70 72.80 54.10 54.90 108.00 108.00 WY : 42.10 41.50 80.10 79.00 74.00 71.50 100.00 99.00 : US : 40.20 41.10 78.80 79.00 74.60 74.90 99.10 99.30 -------------------------------------------------------------------------------- 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, April and May 2003 -------------------------------------------------------------------------------- : Sows : Barrows and Gilts : All Hogs :----------------------------------------------------------------------- State : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Cwt : AR : 26.30 28.60 33.40 38.30 32.70 37.30 IL : 25.00 29.00 37.50 44.00 36.50 42.80 IN : 29.50 32.00 35.70 41.20 35.10 40.40 IA : 29.30 31.30 35.00 40.00 34.90 39.90 KS : 26.40 28.80 33.90 40.60 32.90 38.90 MI : 24.00 30.00 33.50 38.00 32.70 37.40 MN : 27.10 30.50 34.80 42.00 34.70 41.90 MO : 23.00 26.40 33.00 37.90 32.30 37.20 NE : 27.40 30.60 37.10 43.00 36.90 42.80 NC : 26.10 28.40 36.00 43.50 35.90 43.30 OH : 26.30 29.00 36.60 40.00 35.80 39.10 OK : 25.00 28.00 32.10 39.40 31.20 37.90 PA : 22.90 26.70 34.50 37.60 32.80 36.00 SD : 23.80 30.30 36.80 40.90 35.50 39.70 TX : 22.40 24.80 32.50 37.40 31.30 35.60 WI : 26.50 32.80 35.20 42.00 34.10 40.80 : US : 26.00 29.20 35.30 41.10 34.80 40.60 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by States, April and May 2003 -------------------------------------------------------------------------------- : April : May State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Eggs 2/ 3/ -------------------------------------------------------------------------------- : ------ Dollars per Cwt ------ Dollars per Dozen : AL : 0.400 AR : 0.360 CA : 32.00 90.00 0.460 CO : 30.30 97.40 CT : 0.470 FL : 0.410 GA : 0.389 ID : 34.00 88.00 IN : 0.400 IA : 31.50 90.00 0.316 KS : 29.00 91.00 ME : 0.580 MI : 0.390 MN : 23.60 91.70 0.400 MS : 0.370 MO : 0.310 MT : 31.10 93.00 NE : 31.50 97.00 NY : 0.480 NC : 0.380 ND : 25.00 86.00 OH : 26.00 96.00 0.390 OR : 34.00 86.50 PA : 0.460 SC : 0.390 SD : 29.80 98.70 TX : 35.50 91.20 0.350 UT : 28.00 93.00 WA : 0.500 WY : 30.60 92.00 : US : 30.90 93.60 0.397 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, April and May 2003 ------------------------------------------------------------------------------- : April 1/ : May :------------------------------------------------------------------------ State: Fluid Grade : Manufacturing : All Milk : All Milk : : Milk 2/ : Grade Milk : 3/ : 3/ 4/ : Milk :---------------------------------------------------------------:Cows 5/ : : Fat : : Fat : : Fat : : Fat : : Price : Test : Price : Test : Price : Test : Price : Test : ------------------------------------------------------------------------------- :Dol/Cwt Percent Dol/Cwt Percent Dol/Cwt Percent Dol/Cwt Percent Dol/Head : AZ : 10.50 3.57 10.50 3.57 10.50 3.54 CA : 10.00 3.65 10.10 3.90 10.00 3.65 10.10 3.60 FL : 13.60 3.50 13.60 3.50 13.70 3.50 ID : 10.20 3.57 10.00 3.78 10.20 3.57 10.40 3.50 IL : 11.00 3.68 10.60 3.60 11.00 3.68 11.20 3.65 IN : 10.60 3.69 9.30 3.75 10.50 3.69 10.60 3.65 IA : 11.30 3.70 10.00 3.76 11.30 3.70 11.40 3.62 KY : 11.90 3.59 11.90 3.59 12.00 3.55 MI : 11.10 3.62 9.70 3.68 11.10 3.62 11.20 3.54 MN : 11.20 3.72 9.30 3.76 11.10 3.72 11.30 3.65 MO : 11.00 3.56 9.90 3.80 11.00 3.57 11.10 3.56 NM : 10.70 3.56 10.70 3.56 10.70 3.50 NY : 11.80 3.71 11.80 3.71 11.80 3.65 OH : 11.10 3.69 10.70 3.81 11.10 3.70 11.20 3.61 PA : 12.50 3.75 9.50 3.80 12.50 3.75 12.50 3.70 TX : 11.80 3.59 11.80 3.59 11.90 3.56 VT : 11.50 3.72 11.50 3.72 11.50 3.67 VA : 12.70 3.64 12.70 3.64 12.80 3.54 WA : 11.00 3.65 11.00 3.65 11.00 3.59 WI : 11.10 3.73 9.90 3.84 11.10 3.73 11.20 3.67 : US : 11.10 3.67 9.90 3.81 11.00 3.67 11.10 3.61 ------------------------------------------------------------------------------- 1/ Entire Month. 2/ Including milk diverted to manufacturing. 3/ Before deductions for hauling. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 4/ Preliminary. 5/ Animals sold for dairy herd replacement only. Prices published Jan, Apr, Jul and Oct. Parity Price Equivalent for Manufacturing Milk 1/: United States, April and May 2003, with Comparisons -------------------------------------------------------------------------------- Item : May 2002 : Apr 2003 : May 2003 -------------------------------------------------------------------------------- Parity Equivalent ...........Dol per Cwt : 29.59 30.28 30.20 Average Price F.O.B........Dol per Cwt 2/: 11.10 9.90 10.00 Average Fat Test of Milk..Percent 2/ : 3.76 3.81 3.74 -------------------------------------------------------------------------------- 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 for May 2003. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for May 2003, with Comparisons 1/ -------------------------------------------------------------------------------- : : Parity Prices : Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :----------------------------------------- : Prices : May : Apr : May : May : Apr : May : : 2002 : 2003 : 2003 : 2002 : 2003 : 2003 -------------------------------------------------------------------------------- :---------- Dollars ---------- ---- Percent --- : Basic Commodities : All Wheat, Bu : 0.569 9.50 9.68 9.66 30 35 36 Rice, Cwt : 1.56 25.40 26.50 26.50 16 16 17 Corn, Bu : 0.389 6.43 6.62 6.60 30 35 37 Cotton, Lb : American Upland : 0.100 1.62 1.70 1.70 16 26 27 Extra Long Staple : 0.140 2.30 2.38 2.38 Peanuts, Lb : 0.0388 0.658 0.660 0.658 28 36 Tobacco, By Type, Lb : Flue-Cured 11-14 : 0.256 4.18 4.35 4.34 VA Fire-Cured, 21 : 0.259 4.22 4.41 4.40 KY-TN Fire-Cured, 22-23 : 0.320 5.23 5.44 5.43 Burley, 31 : 0.275 4.50 4.68 4.67 Maryland, 32 : 0.218 3.61 3.71 3.70 33 Dark Air-Cured, 35-36 : 0.276 4.43 4.69 4.68 Sun-Cured, 37 : 0.243 3.92 4.13 4.12 PA Seedleaf, 41 : 0.199 3.09 3.38 3.38 Cigar Filler & Binder, : 42-44, 54-55 : 0.221 3.58 3.76 3.75 Puerto Rican Filler, 46 : 0.163 2.84 2.77 2.77 Cigar Binder, 51-52 : 0.719 11.10 12.20 12.20 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt 2/ : 1.97 32.70 33.50 33.40 41 35 36 Honey, Extracted, Lb 3/ : 0.0938 1.53 1.60 1.59 : Wool and Mohair : Wool, Lb : 0.0910 1.56 1.55 1.54 Mohair, Lb : 0.325 5.17 5.53 5.52 : Other Nonbasic : Barley, Bu : 0.385 6.32 6.55 6.53 35 44 44 Cottonseed, Ton :15.60 258.00 265.00 265.00 Dry Edible Beans, Cwt : 2.97 47.60 50.50 50.40 58 37 36 Flaxseed, Bu : 0.703 11.20 12.00 11.90 45 55 48 Oats, Bu : 0.243 3.92 4.13 4.12 51 48 48 Potatoes, Cwt : 0.813 13.40 13.80 13.80 64 54 51 Rye, Bu : 0.343 5.60 5.83 5.82 Sorghum Grain, Cwt : 0.658 10.90 11.20 11.20 29 35 36 Soybeans Bu : 0.851 14.10 14.50 14.40 33 40 43 Sweetpotatoes, Cwt : 2.19 35.80 37.30 37.20 Apples, Fresh, Lb 4/ : 0.0287 0.474 0.488 0.487 45 48 45 Citrus (equiv on-tree), Box : Grapefruit : 0.388 7.24 6.60 6.58 21 20 85 Lemons : 1.10 17.70 18.70 18.70 60 20 38 Limes (FL) : 1.31 20.70 22.30 22.20 Oranges : 0.570 10.60 9.70 9.67 42 46 47 Tangerines : 1.46 25.40 24.80 24.80 70 42 40 Temples (FL) : 0.463 8.65 7.88 7.86 Beef Cattle, Cwt : 9.46 157.00 161.00 161.00 41 46 47 Calves, Cwt :12.70 208.00 216.00 216.00 48 46 46 Hogs, Cwt : 6.03 101.00 103.00 102.00 33 34 40 Lambs, Cwt :10.90 177.00 185.00 185.00 36 51 Sheep, Cwt : 4.65 75.00 79.10 78.90 34 39 Eggs, Doz 2/ : 0.0933 1.53 1.59 1.58 34 41 37 Turkeys, Live, Lb : 0.0579 0.955 0.985 0.983 37 36 35 -------------------------------------------------------------------------------- --continued Parity Prices Based on Data for May 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 : 0.255 4.33 :: Processing 5/ : Spearmint Oil, Lb : 1.59 27.00 :: Excl Dried : Tobacco, Lb : :: Clingstone, : Type 61 : 2.51 42.60 :: CA, Ton : 33.00 560.00 : :: Pears, Ton : Noncitrus Fruit : :: Fresh 4/ : 51.70 877.00 Apples, Ton 6/ : :: Dried, CA 6/ : 161.00 2,730.00 Processing : 18.00 305.00 :: Plums, CA, Ton : Apricots, Ton : :: Fresh, Equiv : Fresh 7/ :103.00 1,750.00 :: on-Tree : 57.20 971.00 Dried, CA :284.00 4,820.00 :: Prunes, Dried, : Avocados, Ton 7/ :218.00 3,700.00 :: CA, Ton 6/ : 132.00 2,240.00 Cherries Bbl : :: Prunes and Plums, : Sweet, Ton :181.00 3,070.00 :: Excl CA, Ton : Tart, Lb : 0.0229 0.389:: Fresh 9/ : 53.50 908.00 Cranberry, Bbl 5/ : 6.23 106.00 :: Processing 6/ : Dates, CA, Ton 7/ :161.00 2,730.00 :: Excl Dried : 24.90 423.00 Grapes, Ton : :: : Raisin Variety :130.00 2,210.00 :: Tree Nuts 10/ : Other Dried : 68.50 1,160.00 :: Almonds, Lb : 0.211 3.58 Kiwifruit, Ton : 74.00 1,260.00 :: Hazelnuts, Ton : 124.00 2,100.00 Nectarines : :: Pistachio, Lb : 0.160 2.72 Fresh, CA, : :: Walnuts, Ton : 181.00 3,070.00 Ton 7/ : 64.10 1,090.00 :: : Olives, CA : :: Vegetables, Cwt 11/ : canning, Ton 5/ : 96.80 1,640.00 :: Fresh : Papayas (HA) : 0.0508 0.862:: Carrots 8/ : 2.11 35.80 Peaches : :: Cauliflower 8/ : 4.53 76.90 Fresh, Lb 4/ : 0.0397 0.674:: Celery 8/ : 2.00 33.90 Dried, CA, : :: Honeydew Melons : 2.78 47.20 Ton : 97.00 1,650.00 :: Lettuce : 2.47 41.90 : :: Onions 8/ : 1.66 28.20 : :: Tomatoes : 4.31 73.10 ------------------------------------------------------------------------------- 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/ 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. Tobacco: Marketing Year Average Price, by Class, Type, State, and United States, 2001-02 1/ -------------------------------------------------------------------------------- : : Class and State : Type : 2001 : 2002 : : -------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured: : : Old Belts : : NC : 11 : 1.856 1.829 VA : 11 : 1.895 1.854 US : 11 : 1.868 1.838 Eastern NC Belt : : NC : 12 : 1.857 1.815 NC Border & SC Belt : : NC : 13 : 1.849 1.803 SC : 13 : 1.841 1.774 US : 13 : 1.844 1.786 GA-FL Belt : : FL : 14 : 1.871 1.879 GA : 14 : 1.855 1.845 US : 14 : 1.857 1.851 Total Flue-cured : 11-14 : 1.857 1.820 : : Fire-cured: : : VA Belt : : VA : 21 : 1.759 1.884 Eastern District : : KY : 22 : 2.195 2.398 TN : 22 : 2.154 2.374 US : 22 : 2.169 2.382 Western District : : KY : 23 : 2.101 2.362 TN : 23 : 2.102 2.408 US : 23 : 2.101 2.368 KY-TN Fired-cured : 22-23 : 2.149 2.378 Total Fire-cured : 21-23 : 2.130 2.357 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.944 1.944 KY : 31 : 1.977 1.980 MO : 31 : 1.895 1.900 NC : 31 : 1.950 1.948 OH : 31 : 1.938 1.963 TN : 31 : 1.977 1.968 VA : 31 : 1.979 1.975 WV : 31 : 1.960 1.967 US : 31 : 1.973 1.974 Southern MD Belt : : MD : 32 : 1.680 1.480 PA : 32 : 1.350 1.250 US : 32 : 1.554 1.364 Total Light Air-cured : 31-32 : 1.966 1.964 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.835 2.135 TN : 35 : 1.815 2.029 US : 35 : 1.831 2.117 Green River Belt : : KY : 36 : 1.822 2.061 KY-TN Dark Air-cured : 35-36 : 1.829 2.101 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Tobacco: Marketing Year Average Price, by Class, Type, State, and United States, 2001-02 1/ (continued) -------------------------------------------------------------------------------- : : Class and State : Type : 2001 : 2002 : : -------------------------------------------------------------------------------- : : Dollars per Pound : : VA Sun-cured Belt : : VA : 37 : 1.686 1.778 Total Dark Air-cured : 35-37 : 1.827 2.098 : : All Cures Other Than Cigar : 11-37 : 1.907 1.896 : : : : Cigar Filler: : : PA Seedleaf : : PA : 41 : 1.650 1.450 : : Cigar Binder: : : CT Valley Broadleaf : : CT : 51 : 5.550 5.450 MA : 51 : 5.650 5.250 US : 51 : 5.589 5.369 WI Binder, Southern : : WI : 54 : 1.650 1.750 WI Binder, Northern : : WI : 55 : 1.650 1.750 Total WI Binder : 54-55 : 1.650 1.750 Total Binder : 51-55 : 3.673 3.565 : : Cigar Wrapper: : : CT Valley Shade-grown : : CT 2/ : 61 : MA 2/ : 61 : US 2/ : 61 : 23.000 : : Total Cigar Types : 41-61 : 5.597 2.792 : : US All Tobacco 3/ : 11-61 : 1.957 1.937 -------------------------------------------------------------------------------- 1/ 2001 and 2002 revised. 2/ CT and MA Type 61 price for 2001 combined to avoid disclosure of individual operations. Price not available for 2002. 3/ The 2002 price includes an estimate for CT and MA type 61. Used 2001 CT and MA type 61 price to compute the 2002 price. Tobacco, Types 11-61: Marketing Year Average Price, by State, 2001-02 1/ ------------------------------------------------------------------------------- State : 2001 : 2002 :: State : 2001 : 2002 ------------------------------------------------------------------------------- : Dollars per Pound :: : Dollars per Pound : :: : CT 2/ : 5.550 5.450 :: OH : 1.938 1.963 FL : 1.871 1.879 :: PA : 1.550 1.379 GA : 1.855 1.845 :: SC : 1.841 1.774 IN : 1.944 1.944 :: TN : 2.016 2.061 KY : 1.985 2.015 :: VA : 1.906 1.879 MD : 1.680 1.480 :: WV : 1.960 1.967 MA 2/ : 5.650 5.250 :: WI : 1.650 1.750 MO : 1.895 1.900 :: CT & MA 3/: 23.000 NC : 1.858 1.821 :: : ------------------------------------------------------------------------------- 1/ 2001 and 2002 revised. 2/ Price includes type 51 only. Shade type 61 is not included in State totals to avoid disclosure. 3/ Includes type 61 only. CT and MA combined to avoid disclosure. Price not available for 2002. Tobacco: Prices Received Monthly by Type, State and United States, July 2001 - April 2002 1/ ------------------------------------------------------------------------------- : : 2001 Cure, Area and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12: 1.910 1.770 1.890 1.920 1.865 Northern Contract 2/ : 11-12: 1.880 1.815 1.880 1.895 Southern Auction 3/ : 13-14: 1.845 1.800 1.880 1.880 Southern Contract 3/ : 13-14: 1.730 1.860 1.905 1.915 Total Flue-cured Area : 11-14: 1.865 1.810 1.885 1.905 1.865 : : Fire-cured: : : VA Belt : : VA : 21 : 1.805 Eastern District : : KY : 22 : TN : 22 : US : 22 : Western District : : KY : 23 : TN : 23 : US : 23 : KY-TN Fire-cured : 22-23: Total Fire-cured : 21-23: 1.805 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.945 1.945 KY : 31 : 1.980 1.975 MO : 31 : 1.895 NC : 31 : 1.960 1.945 OH : 31 : 1.950 1.945 TN : 31 : 1.980 1.980 VA : 31 : 1.985 1.980 US : 31 : 1.980 1.975 Southern MD Belt : : MD : 32 : Total Light Air-cured : 31-32: 1.980 1.975 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.990 1.900 TN : 35 : 1.900 US : 35 : 1.990 1.900 Green River Belt : : KY : 36 : 2.070 1.900 KY-TN Dark Air-cured : 35-36: 2.015 1.900 VA Sun-cured Belt : : VA : 37 : 1.740 Total Dark Air-cured : 35-37: 2.015 1.895 : : Total All Cures : 11-37: 1.865 1.810 1.885 1.905 1.980 1.965 ------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Tobacco: Prices Received Monthly by Type, State and United States, July 2001 - April 2002 1/ (continued) -------------------------------------------------------------------------------- : : 2002 Cure, Area and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12 : Northern Contract 2/ : 11-12 : Southern Auction 3/ : 13-14 : Southern Contract 3/ : 13-14 : Total Flue-cured Area : 11-14 : : : Fire-cured: : : VA Belt : : VA : 21 : 1.510 Eastern District : : KY : 22 : 2.240 2.000 1.740 TN : 22 : 2.215 2.000 1.865 US : 22 : 2.225 2.000 1.815 Western District : : KY : 23 : 2.125 1.975 1.625 TN : 23 : 2.125 1.975 1.650 US : 23 : 2.125 1.975 1.635 KY-TN Fire-cured : 22-23 : 2.195 1.995 1.795 Total Fire-cured : 21-23 : 2.185 1.995 1.795 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.950 1.915 KY : 31 : 1.975 1.960 MO : 31 : 1.895 NC : 31 : 1.945 1.885 OH : 31 : 1.930 TN : 31 : 1.970 1.965 VA : 31 : 1.975 1.975 US : 31 : 1.970 1.960 Southern MD Belt : : MD : 32 : 1.680 Total Light Air-cured : 31-32 : 1.970 1.960 1.680 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.645 1.785 TN : 35 : 1.770 1.645 US : 35 : 1.675 1.700 Green River Belt : : KY : 36 : 1.650 1.400 KY-TN Dark Air-cured : 35-36 : 1.670 1.600 VA Sun-cured Belt : : VA : 37 : 1.365 Total Dark Air-cured : 35-37 : 1.665 1.600 : : Total All Cures : 11-37 : 2.025 1.960 1.700 -------------------------------------------------------------------------------- 1/ Revised. 2/ Consists of Eastern NC Belt, and Old and Middle Belts in NC and VA. 3/ Consists of GA-FL Belt, SC Belt, and NC Border Belt. Tobacco: Prices Received Monthly by Type, State and United States, July 2002 - April 2003 1/ ------------------------------------------------------------------------------- : : 2002 Cure, Area and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12: 1.920 1.825 1.805 1.875 1.810 Northern Contract 2/ : 11-12: 1.870 1.780 1.805 1.850 1.835 Southern Auction 3/ : 13-14: 1.865 1.745 1.790 1.780 Southern Contract 3/ : 13-14: 1.780 1.855 1.890 1.885 Total Flue-cured Area : 11-14: 1.850 1.795 1.810 1.850 1.815 : : Fire-cured: : : VA Belt : : VA : 21 : 1.900 Eastern District : : KY : 22 : TN : 22 : US : 22 : Western District : : KY : 23 : TN : 23 : US : 23 : KY-TN Fire-cured : 22-23: Total Fire-cured : 21-23: 1.900 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.960 1.980 KY : 31 : 1.980 1.985 MO 4/ : 31 : NC : 31 : 1.950 1.950 OH : 31 : 1.985 1.975 TN : 31 : 1.975 1.975 VA : 31 : 1.990 1.975 US : 31 : 1.980 1.980 Southern MD Belt : : MD : 32 : Total Light Air-cured : 31-32: 1.980 1.980 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 2.360 TN : 35 : 2.260 US : 35 : 2.345 Green River Belt : : KY : 36 : 2.135 KY-TN Dark Air-cured : 35-36: 2.290 VA Sun-cured Belt : : VA : 37 : 1.820 Total Dark Air-cured : 35-37: 2.285 : : Total All Cures : 11-37: 1.850 1.795 1.810 1.850 1.960 1.995 ------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Tobacco: Prices Received Monthly by Type, State and United States, July 2002 - April 2003 1/ (continued) -------------------------------------------------------------------------------- : : 2003 Cure, Area and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12 : Northern Contract 2/ : 11-12 : Southern Auction 3/ : 13-14 : Southern Contract 3/ : 13-14 : Total Flue-cured Area : 11-14 : : : Fire-cured: : : VA Belt : : VA : 21 : 1.830 Eastern District : : KY : 22 : 2.455 2.425 1.900 TN : 22 : 2.420 2.460 1.970 US : 22 : 2.435 2.455 1.950 Western District : : KY : 23 : 2.450 2.085 1.735 TN : 23 : 2.545 2.190 1.800 US : 23 : 2.465 2.100 1.740 KY-TN Fire-cured : 22-23 : 2.445 2.410 1.910 Total Fire-cured : 21-23 : 2.435 2.410 1.910 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.945 1.845 1.640 KY : 31 : 1.985 1.940 1.760 MO 4/ : 31 : NC : 31 : 1.930 OH : 31 : 1.970 1.840 TN : 31 : 1.965 1.865 VA : 31 : 1.955 1.780 US : 31 : 1.975 1.920 1.750 Southern MD Belt : : MD : 32 : 1.560 1.225 Total Light Air-cured : 31-32 : 1.975 1.920 1.615 1.225 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.780 1.525 TN : 35 : 1.885 1.550 US : 35 : 1.810 1.530 Green River Belt : : KY : 36 : 2.015 1.495 KY-TN Dark Air-cured : 35-36 : 1.870 1.520 VA Sun-cured Belt : : VA : 37 : 1.465 Total Dark Air-cured : 35-37 : 1.870 1.520 : : Total All Cures : 11-37 : 2.090 2.065 1.785 1.225 -------------------------------------------------------------------------------- 1/ Revised. 2/ Consists of Eastern NC Belt, and Old and Middle Belts in NC and VA. 3/ Consists of GA-FL Belt, SC Belt, and NC Border Belt. 4/ Prices received by month are not available. Tobacco, Types 11-37: Prices Received Monthly, by State and United States, July 2001 - April 2002 1/ -------------------------------------------------------------------------------- : 2001 : 2002 State :--------------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : Dollars per Pound : FL :1.765 1.895 1.925 GA :1.720 1.855 1.900 1.915 IN : 1.945 1.945 1.950 1.915 KY : 1.980 1.970 2.015 1.955 1.715 MD : 1.680 MO : 1.895 1.895 NC :1.880 1.795 1.885 1.900 1.950 1.945 1.945 1.885 OH : 1.950 1.945 1.930 SC :1.835 1.810 1.880 1.865 TN : 1.980 1.975 2.085 1.975 1.860 VA :1.935 1.820 1.900 1.940 1.985 1.925 1.920 1.975 : US :1.865 1.810 1.885 1.905 1.980 1.965 2.025 1.960 1.700 -------------------------------------------------------------------------------- 1/ Revised. Tobacco, Types 11-37: Prices Received Monthly, by State and United States, July 2002 - April 2003 1/ -------------------------------------------------------------------------------- : 2002 : 2003 State :--------------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : Dollars per Pound : FL :1.795 1.895 1.920 GA :1.775 1.845 1.885 1.885 IN : 1.960 1.980 1.945 1.845 1.640 KY : 1.980 2.010 2.085 1.985 1.805 MD : 1.560 1.225 MO 2/ : NC :1.875 1.780 1.810 1.850 1.850 1.950 1.930 OH : 1.985 1.975 1.970 1.840 SC :1.845 1.750 1.770 1.750 TN : 1.975 1.980 2.165 2.285 1.965 VA :1.915 1.860 1.790 1.895 1.930 1.960 1.930 1.780 : US :1.850 1.795 1.810 1.850 1.960 1.995 2.090 2.065 1.785 1.225 -------------------------------------------------------------------------------- 1/ Revised. 2/ Prices received by month are not available. 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 May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 127 (1990-92=100), 0.8 percent lower than April 2003 but 3.3 percent above May 2002. PRODUCTION INDEX: The May Farm Production, Goods, and Services Index, at 123, is unchanged from last month but 4.2 percent above last year. Lower prices in May for LP gas, diesel fuel, gasoline, and feeder pigs offset higher prices for nitrogen fertilizers, hay and forages, feed grains, and potash and phosphate materials. Feed: The Feed Index, at 114, is the same as April but 4.6 percent above last May. Since April, slightly lower prices for complete feeds, feed supplements, and feed concentrates offset higher prices for hay and forages and feed grains. Livestock & Poultry: The index for livestock and poultry purchases, at 102, is unchanged from last month but 4.1 percent above last year. Since April, lower prices for feeder pigs and poultry offset slightly higher prices for feeder cattle. The May feeder cattle price, at $84.00 per cwt, is up 40 cents per cwt from the April price. Fertilizer: The Fertilizer Index, at 132, is up 2.3 percent from April and 23 percent more than May a year ago. Since April, higher prices for nitrogen fertilizers and potash and phosphate materials more than offset lower prices for mixed fertilizers. Agricultural Chemicals: The Agricultural Chemicals Index, at 121, is unchanged from last month but 1.7 percent above last May. Prices in May were slightly higher for herbicides and other chemicals. Fuels: The Fuels Index, at 131, is down 8.4 percent from a month earlier but 20 percent above May 2002. Compared to last month, prices were lower for LP gas, diesel fuel, and gasoline. Farm Machinery: The May Farm Machinery Index is 149, unchanged from April but 0.7 percent below last May. Since April, prices were slightly higher for other machinery and tractors. CONSUMER PRICE INDEX: The April 2003 Consumer Price Index for all urban consumers (CPI-U) decreased 0.2 percent before seasonal adjustment to a level of 183.8 (1982-84=100). This compares to the March index of 184.2. For the 12-month period ending in April, the overall index has increased 2.2 percent. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, May 2003 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2002 : 2003 : 2002 : 2003 Ratios :---------------------------------------------- : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1,635 *1,699 1,697 123 128 127 Production : 1,144 *1,198 1,197 118 123 123 Feed : 531 *555 558 109 114 114 Livestock and Poultry : 1,251 *1,309 1,303 98 102 102 Seeds : 1,426 1,553 1,553 144 157 157 Fertilizer : 393 471 483 107 129 132 Agricultural Chemicals : 734 746 749 119 121 121 Fuels : 838 1,105 1,013 109 143 131 Supplies & Repairs : 927 *943 943 131 *133 133 Autos & Trucks : 3,073 *3,061 3,047 116 *115 115 Farm Machinery : 3,752 3,737 3,746 150 149 149 Building Material : 1,655 *1,670 1,677 122 *123 123 Farm Services & Rent : 1,421 *1,441 1,441 Farm Services : 120 *122 122 Rent : 119 120 120 Interest 1/ : 2,615 2,599 2,599 104 104 104 Taxes 2/ : 3,378 3,426 3,426 126 128 128 Wage Rates : 5,705 *5,919 5,919 153 *158 158 Production, Interest, Taxes, : & Wage Rates (PITW) : 1,619 *1,688 1,686 121 126 126 Family Living-CPI 3/ : 1,708 *1,746 1,746 133 *136 136 : Ratio (Received\Paid) : 78 79 84 Parity Ratio 4/ : 37 38 40 Parity Ratio Adjusted 5/ : 40 41 44 PPITW Adjusted for : Productivity 6/ : 1139 *1174 1174 : Crop Sector (PPITW) : 126 131 131 Livestock Sector (PPITW) : 119 124 123 : Farm Sector (Production) : 110 116 117 Non-Farm Sector (Production) : 121 127 127 -------------------------------------------------------------------------------- * 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, May 2003 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 1/ : 2002 : 2003 :----------------------------------------------------- : 2002 : 2003 : May : Apr : May -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 66.9 66.7 118 123 123 : Feed : 11.3 11.0 109 114 114 Feed Grains : 1.6 1.6 84 *102 106 Complete Feeds : 5.5 5.4 110 112 111 Hay/Forages : 1.4 1.4 129 125 129 Concentrates : 1.8 1.7 106 112 112 Supplements : 0.9 0.9 118 131 128 Livestock & Poultry : 6.8 7.2 98 102 102 Feeder Cattle : 5.3 5.6 92 99 99 Feeder Pigs : 0.5 0.6 88 *119 109 Milk Cow Replacements : 0.6 0.6 152 115 115 Poultry : 0.4 0.4 111 111 111 Seeds : 3.1 3.2 144 157 157 Field Crops : 2.8 2.9 147 162 162 Grasses/Legumes : 0.3 0.3 118 109 109 Fertilizer : 4.7 4.5 107 129 132 Mixed Fertilizer : 2.1 2.0 104 113 112 Nitrogen : 2.0 1.9 111 150 157 Potash & Phosphate : 0.7 0.6 107 113 117 Agricultural Chemicals : 3.9 3.8 119 121 121 Herbicides : 2.5 2.4 111 112 113 Insecticides : 0.9 0.9 138 147 147 Fungicides/Other : 0.6 0.5 119 115 116 Fuels : 2.7 2.7 109 143 131 Diesel : 1.5 1.5 105 141 134 Gasoline : 0.8 0.8 113 140 132 LP Gas : 0.4 0.4 116 158 117 Farm Supplies & Repairs : 5.5 5.5 131 *133 133 Supplies : 1.8 1.8 124 124 124 Repairs : 3.7 3.6 134 *137 137 Autos & Trucks : 1.7 1.8 116 *115 115 Autos : 0.2 0.2 110 *108 108 Trucks : 1.5 1.5 116 *116 116 Farm Machinery : 4.0 4.0 150 149 149 Tractors : 0.9 0.9 140 141 142 Self-Propelled : 1.6 1.6 151 148 148 Other Machinery : 1.5 1.5 153 155 155 Building Materials : 3.1 3.1 122 *123 123 Farm Services : 12.3 12.4 120 *122 122 Custom Rates : 1.3 1.3 120 120 120 Other Services : 11.1 11.1 120 *122 122 Rent : 7.7 7.4 119 120 120 Cash : 4.2 4.0 143 145 145 Share : 3.6 3.4 91 91 91 Interest : 4.8 4.7 104 104 104 Taxes : 3.0 3.0 126 128 128 Wage Rates : 7.3 7.4 153 *158 158 Family Living-CPI : 18.0 18.2 133 *136 136 -------------------------------------------------------------------------------- * Revised. 1/ Weights may not add due to rounding. Feed Price Ratios: United States, May 2003 with Comparisons -------------------------------------------------------------------------------- : 2002 : 2003 Feed Price Ratio 1/ :----------------------------- : May : Apr : May -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed : equal in value to 1 pound of broiler, live weight : 5.7 *4.8 4.8 : Market Egg Feed: Pounds of Laying Feed equal in : Value to 1 dozen eggs : 6.7 *9.4 6.8 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 17.2 *14.9 16.6 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.64 *2.25 2.16 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 35.3 33.7 32.4 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 7.3 5.8 5.5 -------------------------------------------------------------------------------- * Revised. 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. Prices Used to Calculate Feed Price Ratios: United States, May 2003 with Comparisons -------------------------------------------------------------------------------- : : 2002 : 2003 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.300 0.310 0.330 Eggs, Market : Doz : 0.301 0.520 0.397 : : Hogs, All : Cwt : 33.20 *34.80 40.60 Milk, All : Cwt : 12.10 *11.00 11.10 : : Steers and Heifers : Cwt : 68.10 *78.80 79.00 Turkeys, Live : Lb : 0.358 0.351 0.344 : : Corn : Bu : 1.93 *2.34 2.44 Hay, Alfalfa, Baled : Ton : 108.00 96.20 102.00 : : Soybeans : Bu : 4.64 *5.82 6.19 Wheat, All : Bu : 2.81 *3.37 3.43 -------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States May 2003 with Comparisons -------------------------------------------------------------------------------- : : 2002 : 2003 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 78.10 83.60 84.00 Feeder Pigs : Cwt : 81.00 *109.00 100.00 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios, Monthly, United States, January 2000 - May 2003 1/ -------------------------------------------------------------------------------- : : : : : : : : : : : : : Year: Jan : Feb : Mar :Apr : May : Jun : Jul :Aug : Sep : Oct : Nov : Dec : Avg : : : : : : : : : : : : : 2/ -------------------------------------------------------------------------------- : Broiler-Feed Ratio 3/ : 2000: 6.3 5.6 5.8 6.1 5.8 6.3 7.2 7.0 7.8 7.1 7.4 6.5 6.6 2001: 6.4 7.2 7.6 7.9 8.1 8.3 7.9 7.8 8.4 8.6 8.1 6.4 7.7 2002: 6.6 6.5 5.9 5.5 5.7 5.9 5.0 4.6 4.6 4.5 4.5 4.7 5.3 2003: 5.6 5.4 5.2 4.8 4.8 : : Market Egg-Feed Ratios 4/ : 2000: 8.9 11.1 8.1 9.9 6.4 9.5 9.2 12.9 10.3 12.2 13.0 14.6 10.5 2001:11.0 11.2 11.6 11.3 8.6 8.6 7.9 8.5 8.5 10.3 11.5 9.4 9.9 2002:10.2 8.5 11.6 7.4 6.7 9.5 7.5 7.9 7.1 6.6 10.5 9.6 8.6 2003: 9.8 8.6 9.5 9.4 6.8 : : Turkey-Feed Ratio 5/ : 2000: 7.7 7.3 7.6 7.9 7.8 8.5 9.5 10.0 10.0 10.0 9.8 8.1 8.7 2001: 7.3 7.5 7.7 8.0 8.1 8.2 7.9 7.8 8.3 9.6 9.6 8.1 8.2 2002: 7.2 7.3 6.9 6.8 7.3 7.3 6.9 6.3 6.0 6.1 6.5 6.4 6.8 2003: 5.7 5.7 5.9 5.8 5.5 : : Milk-Feed Ratio 6/ : 2000:3.07 2.94 2.88 2.84 2.72 2.97 3.31 3.37 3.36 3.12 3.05 3.04 3.05 2001:3.03 3.06 3.22 3.29 3.47 3.74 3.62 3.64 3.75 3.55 3.29 2.99 3.39 2002:3.07 3.00 2.87 2.81 2.64 2.54 2.34 2.27 2.29 2.47 2.45 2.43 2.60 2003:2.41 2.35 2.27 2.25 2.16 : : Hog-Corn Ratio 7/ : 2000:19.3 20.2 20.5 23.3 22.9 25.6 29.5 28.8 25.8 23.8 19.8 20.2 23.3 2001:18.8 20.0 23.4 25.3 27.7 29.7 27.6 26.7 23.7 21.8 18.9 16.8 23.4 2002:19.1 19.9 18.6 16.6 17.2 18.2 18.4 13.4 10.7 13.2 12.2 13.1 15.9 2003:14.2 14.7 14.9 14.9 16.6 : : Steer & Heifer-Corn Feed Ratio 8/ : 2000:37.5 36.0 36.2 37.1 34.7 37.5 43.2 45.2 42.4 40.4 39.7 39.0 39.1 2001:40.1 40.2 41.1 42.1 42.5 43.8 40.1 38.7 37.7 38.1 36.6 34.6 39.6 2002:36.1 38.1 38.2 37.0 35.3 34.0 31.2 28.3 27.4 29.3 31.7 32.3 33.2 2003:33.4 33.4 32.9 33.7 32.4 -------------------------------------------------------------------------------- 1/ Quarterly commercial feed surveys discontinued in January 1995. Comparable complete feeds are based on US prices for Corn, Alfalfa Hay, Soybeans, and All Wheat. 2/ Simple average of monthly ratios, January through December. 3/ Number of pounds of Broiler Grower Feed (corn-58 pounds, soybeans-42 pounds) equal in value to one pound of Broilers, live weight. 4/ Number of pounds of Laying Feed (corn-75 pounds, soybeans-25 pounds) equal in value to one dozen Market Eggs. 5/ Number of pounds of Turkey Grower Feed (corn-51 pounds, soybeans-28 pounds, all wheat-21 pounds) equal in value to one pound of Turkeys, live weight. 6/ Number of pounds of 16% protein Mixed Dairy Feed (corn-51 pounds, soybeans-8 pounds, alfalfa hay-41 pounds) equal in value to one pound of All Milk. 7/ Number of bushels of corn equal in value to 100 pounds of All Hogs, live weight. 8/ Number of bushels of corn equal in value to 100 pounds of Steers & Heifers, live weight. 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 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. 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 Greg Thessen, Head, Field Crops Section. . . . . . . . . . . . (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) 720-9526 Troy Joshua - Hay, Oats. . . . . . . . . . . . . . . . . . (202) 690-3234 Roy Karkosh - Sugarcane, Sugarbeets, Barley, Sorghum . . . (202) 690-8843 Mark R. Miller - Peanuts, Rice . . . . . . . . . . . . . . (202) 720-7688 Jim Smith, Head, Fruit and Vegetable Section . . . . . . . . . (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 Wil Hundl, Head, Livestock Section . . . . . . . . . . . . . . (202) 720-3570 Steve Anderson - Cattle. . . . . . . . . . . . . . . . . . (202) 720-3040 Scott Hollis - Sheep . . . . . . . . . . . . . . . . . . . (202) 720-4751 Ty Kalaus - Milk, Milk Cows. . . . . . . . . . . . . . . . (202) 690-3236 Dan Lofthus - Hogs . . . . . . . . . . . . . . . . . . . . (202) 720-3106 Nathan Crisp, Head, Poultry and Specialty Commodities Section. (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 Larry Beard, Head, Economics Section . . . . . . . . . . . . . (202) 720-6146 Tara Jackson - Feed, Fertilizer, AG 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 p.m. ET on June 27, 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. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (braille, large print, audiotape, etc.) should contact the USDA's TARGET Center at 202-720-2600 (voice and TDD). To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 1400 Independence Avenue, SW, Washington, D.C., 20250-9410, or call 202-720-5964 (voice or TDD). USDA is an equal opportunity provider and employer. ACCESS TO REPORTS!! For your convenience, there are several ways to obtain NASS reports, data products, and services: INTERNET ACCESS All NASS reports are available free of charge on the worldwide Internet. For access, connect to the Internet and go to the NASS Home Page at: http:/www.usda.gov/nass/. Select "Today's Reports" or Publications and then Reports Calendar or Publications and then Search, by Title or Subject. 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