Pr 1 (3-04) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released March 30, 2004, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" see page 35, office hours 7:30 a.m. to 4:00 p.m. ET. March Farm Prices Received Index Reaches Record High The preliminary All Farm Products Index of Prices Received by Farmers in March at 122, based on 1990-92=100, is 6 points (5.2 percent) above the February Index. This is the highest index level since records began in 1910. The Livestock Products Index increased 8 points (7.1 percent) from February while the All Crops Index increased 4 points (3.3 percent). Producers received higher commodity prices for cattle, soybeans, milk, and eggs. Lower prices were received for lettuce, strawberries, broccoli, and asparagus. 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 strawberries, asparagus, milk, and broilers offset decreased marketings of cattle, cotton, corn, and onions. The preliminary All Farm Products Index is up 23 points (23 percent) from March 2003. The Food Commodities Index increased 7 points (6.0 percent) from last month to 123. The index stands 27 points (28 percent) above March 2003. Prices Paid Index Up Slightly The March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 131 percent of the 1990-92 average. The index is up 1 point from February and 3 points (2.3 percent) above March 2003. Higher prices in March for feeder cattle, feed grains, diesel fuel, and gasoline account for most of the index increase. Index Summary Table -------------------------------------------------------------------------------- : 2003 : 2003 : 2004 : 2004 Index :-------------------------------------------------------------- 1990-92=100 : Feb : Mar : Feb : Mar -------------------------------------------------------------------------------- : Prices Received : 99 99 116 122 : Prices Paid : 128 128 130 131 : Ratio 1/ : 77 77 89 93 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid by farmers. Prices Received by Farmers Index Reaches Record High The March All Farm Products Index is 122 percent of its 1990-92 base, up 5.2 percent from the revised February index and 23 percent above the March 2003 index. This is the highest index level on record. ALL CROPS: The March index is 124, up 3.3 percent from February and 17 percent above March 2003. From February, index increases for oil-bearing crops, potatoes and dry beans, and feed grains and hay more than offset the index decreases for tobacco, commercial vegetables, and cotton. Food Grains: The March index, at 121, is 0.8 percent below the previous month but 19 percent above March 2003. The March all wheat price, at $3.71 per bushel, is down 6 cents from February but 16 cents above March 2003. Feed Grains & Hay: The March index is 119, up 5.3 percent from last month and 12 percent above March 2003. The corn price, at $2.79 per bushel, is up 18 cents from last month and 46 cents above March 2003. The all hay price, at $81.80 per ton, is $1.90 above February but $11.00 below last March. Grain sorghum, at $4.86 per cwt, is up 10 cents from February and 92 cents above March last year. Oil-Bearing Crops: The March index, at 169, is up 15 percent from February and 67 percent greater than March 2003. The soybean price, at $9.56 per bushel, increased $1.28 from February and is $3.97 above March 2003. Cotton: The March index, at 102, is 1.0 percent below February but 28 percent above March 2003. The March price, at 61.8 cents per pound, is down 0.9 cents from the previous month but 13.2 cents above last March. Potatoes & Dry Beans: The March index, at 107, is up 7.0 percent from last month but 2.7 percent below March 2003. The all potato price, at $6.30 per cwt, is up 37 cents from February but 57 cents below last March. The all dry bean price, at $19.00 per cwt, is up $1.50 from the previous month and $3.10 above March 2003. Fruits & Nuts: The March index, at 100, is up 5.3 percent from the previous month and 15 percent above March 2003. Price increases for oranges, lemons, and apples more than offset price decreases for strawberries and grapefruit. Commercial Vegetables: The March index, at 135, is down 13 percent from last month but 11 percent above March 2003. Price increases during March for tomatoes, onions, and cucumbers were more than offset by price declines for lettuce, broccoli, and asparagus. LIVESTOCK & PRODUCTS: The March index, at 120, is up 7.1 percent from last month and up 29 percent from March 2003. Compared with a year ago, prices are higher for dairy, broilers, all cattle, eggs, hogs, calves, and turkeys. Meat Animals: The March index, at 111, is up 6.7 percent from last month and up 19 percent from last year. The March hog price of $45.10 per cwt is up $2.50 from February and up $10.40 from this same time a year ago. The March beef cattle price of $84.00 is up $5.50 from last month and up $11.40 from March 2003. Dairy Products: The March index, at 113, is up 8.7 percent from February and up 35 percent from March 2003. The March all milk price of $14.70 per cwt is up 1.10 cents from February and up $3.70 from last year. The fluid grade milk price is up 1.10 cents from last month and the manufactured grade milk price is up 1.30 cents. Poultry and Eggs: The March index, at a record high 147, is up 5.8 percent from February and 43 percent above a year ago, due to overall strong prices for all commodities. March market egg prices, at $1.00 per dozen, increased 25.5 cents from February reflecting an unseasonably high increase due to strong protein demand. The March broiler price, at 47.0 cents per pound, remained at a record high due to continued high protein demand and decreased worldwide supplies. The March turkey price, at 36.6 cents per pound, is up 1.6 cents from last month. Purchasing for the fall holiday season has begun early due to expected tighter supplies. Table of Contents U.S. Prices Received and Indexes Page Narrative . . . . . . . . . . . . . . . . . . . . . . . . 2 Price Indexes . . . . . . . . . . . . . . . . . . . . . . 5 Price Index Charts . . . . . . . . . . . . . . . . . . . . 6 U.S. Prices Received Summary . . . . . . . . . . . . . . . 8 Charts . . . . . . . . . . . . . . . . . . . . . . . . . 10 Selected Commodities . . . . . . . . . . . . . . . . . 14 Upland Cotton & Rice Marketings . . . . . . . . . . . . 17 Parity Prices . . . . . . . . . . . . . . . . . . . . . 24 Reliability Statement . . . . . . . . . . . . . . . . . 26 Monthly State Prices Received Apples . . . . . . . . . . . . . . . . . . . . . . . . . 17 Barley . . . . . . . . . . . . . . . . . . . . . . . . . 15 Beans, Dry Edible . . . . . . . . . . . . . . . . . . . 16 Beef Cattle, All . . . . . . . . . . . . . . . . . . . . 20 Calves . . . . . . . . . . . . . . . . . . . . . . . . 20 Cows, Beef . . . . . . . . . . . . . . . . . . . . . . 20 Milk Cows . . . . . . . . . . . . . . . . . . . . . 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 . . . . . . . . . . . . . . . . . . . . . . . . 16 Wheat, All Classes . . . . . . . . . . . . . . . . . . . 14 Table of Contents (continued) U.S. Prices Paid, Prices Paid Indexes and Ratios Page Narrative . . . . . . . . . . . . . . . . . . . . . 27 Indexes and Parity Ratios . . . . . . . . . . . . . 28 Charts . . . . . . . . . . . . . . . . . . . . . . 30 Feed Price Ratios . . . . . . . . . . . . . . . . . 33 Reliability Statement . . . . . . . . . . . . . . . 34 U.S. Average Prices Commodity Prices Used in Feed Price Ratios . . . . 33 Feeder Livestock . . . . . . . . . . . . . . . . . 33 Information Contacts . . . . . . . . . . . . . . 35 Index Numbers of Prices Received, United States, March 2004, with Comparisons -------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2003 : 2004 : 2003 : 2004 :Average :--------------------------------------------- :1990-92 : Mar : Feb : Mar : Mar : Feb : Mar -------------------------------------------------------------------------------- : All Farm Products : 639 628 *734 773 99 *116 122 : All Crops : 500 522 *592 612 106 *120 124 Food Grains : 325 326 *388 383 102 *122 121 Feed Grains & Hay : 363 380 *403 426 106 *113 119 Cotton : 517 411 *530 522 80 *103 102 Tobacco : 1,263 1,552 *1,683 1,452 103 *111 96 Oil-Bearing Crops : 554 550 *805 927 101 *147 169 Fruits & Nuts : 716 605 *664 699 87 *95 100 Commercial Vegetables : 698 813 *1,036 904 122 *155 135 Potatoes & Dry Beans : 540 557 *508 542 110 *100 107 Other Crops : 493 564 569 569 114 115 115 : Livestock & Products : 768 716 *859 919 93 *112 120 Meat Animals : 1,021 948 *1,060 1,126 93 104 111 Dairy Products : 799 676 *836 903 84 *104 113 Poultry & Eggs : 282 291 390 415 103 139 147 : Food Commodities : 96 *116 123 -------------------------------------------------------------------------------- * Revised. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Months, United States, 2003 and 2004 -------------------------------------------------------------------------------- : Index of Prices Received : Index of Prices Paid :---------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :---------------------------------------------------------------- :2003 :2004 :2003 : 2004 : 2003 :2004 : 2003 :2004 : 2003 : 2004 -------------------------------------------------------------------------------- Jan : 100 111 103 113 96 110 126 130 122 127 Feb : 99 116 104 120 95 112 128 130 123 127 Mar : 99 122 106 124 93 120 128 131 124 128 Apr : 101 111 93 128 124 May : 106 116 97 127 123 Jun : 107 117 99 128 124 Jul : 105 109 101 127 124 Aug : 109 113 106 127 123 Sep : 110 111 110 129 125 Oct : 113 111 116 130 126 Nov : 117 117 117 130 127 Dec : 113 115 112 130 127 -------------------------------------------------------------------------------- Prices Received, United States, March 2004, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit: 1990-92 : Mar : Feb : Mar : : : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- : : Dollars : : : : Field Crops : : : : Barley, All : Bu : 2.12 2.83 2.72 2.71 Feed : Bu : 1.90 2.30 2.16 2.14 Malting : Bu : 2.43 3.07 2.95 2.97 Beans, Dry Edible : Cwt: 19.10 15.90 17.50 19.00 Chickpeas, All 1/ : Cwt: 18.90 15.80 Large 1/ : Cwt: 19.10 15.80 Small 1/ : Cwt: 5/ 6/ Corn : Bu : 2.30 2.33 2.61 2.79 Cotton, Upland : Lb : 0.606 0.486 0.627 0.618 Cottonseed 4/ : Ton: 96.00 140.00 : : Flaxseed : Bu : 4.27 6.47 6.40 6.50 Hay, All, Baled 2/ : Ton: 76.30 92.80 79.90 81.80 Alfalfa 2/ : Ton: 77.20 96.70 84.70 85.90 Other 2/ : Ton: 60.00 77.90 69.90 70.90 Lentils 1/ : Cwt: 19.10 19.40 Oats : Bu : 1.22 2.08 1.58 1.55 Peanuts, In-Shell : Lb : 0.304 0.226 0.188 0.198 Peas, Dry Edible 1/ : Cwt: 8.34 8.43 Austrian Winter 1/ : Cwt: 10.90 6/ Potatoes : Cwt: 5.82 6.87 5.93 6.30 : : Rice, Rough : Cwt: 7.07 4.31 7.74 7.72 Sorghum Grain : Cwt: 3.75 3.94 4.76 4.86 Soybeans : Bu : 5.61 5.59 8.28 9.56 Sunflowers, All : Cwt: 9.50 12.50 12.80 12.90 Tobacco, Types 11-37 : Lb : 1.740 1.785 1.935 1.670 : : Wheat, All : Bu : 2.96 3.55 3.77 3.71 Winter : Bu : 2.93 3.30 3.68 3.61 Durum : Bu : 2.86 4.14 4.08 4.15 Other Spring : Bu : 3.11 3.72 3.83 3.81 Hard Red Winter : Bu : 3.32 3.63 Soft Red Winter : Bu : 3.10 3.70 Hard Red Spring : Bu : 3.79 3.84 White : Bu : 3.24 3.29 3.76 : : Fruit : : : : Citrus, Equiv on-tree: : Grapefruit : Box: 5.77 1.60 2.25 1.77 Lemons : Box: 10.10 0.47 2.73 4.49 Oranges : Box: 5.79 4.17 2.93 3.37 Tangelos : Box: 5.82 Tangerines : Box: 15.11 9.30 8.70 8.75 Temples : Box: 6.23 1.45 0.43 0.62 : : Noncitrus, Fresh : : Apples 3/ : Lb : 0.212 0.226 0.294 0.307 Grapes 3/ : Ton: 506.00 Peaches 3/ : Lb : 0.216 Pears 3/ : Ton: 370.00 378.00 346.00 351.00 Strawberries : Cwt: 56.00 64.00 127.00 82.00 -------------------------------------------------------------------------------- 1/ Monthly estimates began July 2003. 2/ Mid-month price. 3/ Equivalent packinghouse-door returns for CA, MI, and NY (apples only), and WA (apples, peaches, and pears). Prices as sold for other states. 4/ Marketing year August - February. 5/ Price not published to avoid disclosure of individual firms. 6/ Insufficient sales to establish a price. Prices Received, United States, March 2004, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : Mar : Feb : Mar : : : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- : : Dollars : : : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 104.00 271.00 187.00 Broccoli : Cwt : 22.50 28.10 28.50 22.30 Cantaloupes 2/ : Cwt : Carrots : Cwt : 13.20 18.70 24.90 24.80 Cauliflower : Cwt : 26.80 30.80 42.20 25.00 Celery : Cwt : 11.60 12.60 24.40 17.80 Corn, Sweet : Cwt : 15.70 18.90 20.70 21.20 Cucumbers 2/ : Cwt : 22.20 22.20 37.00 Lettuce : Cwt : 11.90 9.64 19.80 11.00 Onions : Cwt : 12.80 21.80 21.30 23.20 Snap Beans 2/ : Cwt : 38.60 43.50 40.90 Tomatoes : Cwt : 32.30 53.30 36.30 46.60 : : Livestock : : : : Calves : Cwt : 94.30 96.70 111.00 114.00 Cattle, All Beef : Cwt : 72.90 72.60 78.50 84.00 Cows 3/ : Cwt : 49.60 39.50 46.10 46.70 Steers & Heifers : Cwt : 77.10 76.70 82.30 88.60 Milk Cows 4/ : Head: 1,130.00 : : Hogs, All : Cwt : 47.70 34.70 42.60 45.10 Barrows & Gilts : Cwt : 48.40 35.20 43.00 45.40 Sows : Cwt : 39.50 24.20 35.10 38.90 : : Lambs : Cwt : 56.20 97.10 107.00 Sheep : Cwt : 23.40 40.90 41.20 : : Dairy and Poultry : : : : Milk, All 5/ 6/ : Cwt : 13.06 11.00 13.60 14.70 Fluid Grade 6/ : Cwt : 13.10 11.00 13.60 14.70 Mfg Grade 6/ : Cwt : 11.80 9.80 12.80 14.10 : : Broilers, Live 7/ : Lb : 0.317 0.330 0.470 0.470 Eggs, All 8/ : Doz : 0.643 0.687 0.875 1.090 Market 8/ : Doz : 0.546 0.518 0.745 1.000 Turkeys, live 7/ 8/: Lb : 0.380 0.351 0.350 0.366 : : Adjusted for Seasonal : : Variation : : Eggs, All : Doz : 0.545 0.687 0.833 0.900 Milk, All 5/ : Cwt : 9.71 11.34 14.47 15.47 -------------------------------------------------------------------------------- 1/ F.O.B. shipping point. 2/ Monthly estimates began January 1995. 3/ Beef cows and cull dairy cows sold for slaughter. 4/ Animals sold for dairy herd replacement only. Prices available for Jan, Apr, Jul, and Oct. 5/ Before deductions for hauling. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 6/ March 2004 Fat test percent: all milk 3.73, fluid milk 3.73, mfg grade 3.89. 7/ Equivalent liveweight returns to producers for most States. Includes growers and contractors. 8/ Mid-month price. 9/ Price not published to avoid disclosure of individual firms. 10/ Insufficient sales to establish a price. Wheat: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat :Oth Spring Wheat State :----------------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3/ 3/ 3/ 3/ CA : 3.66 3.65 3.51 3/ 3/ 3/ CO : 3.62 3.48 3.62 3.47 3/ 3/ ID : 3.59 3.62 3.46 3.50 3.79 3.85 IL : 3.78 3.65 3.78 3.65 IN : 3.63 3.67 3.63 3.67 KS : 3.63 3.50 3.63 3.50 MI : 3.75 3.60 3.75 3.60 MN : 3.82 3.84 4/ 4/ 3.82 3.84 MO : 3.68 3.50 3.68 3.50 MT : 3.81 3.88 3.60 3.63 3.99 4.14 3.93 4.00 NE : 3.61 3.50 3.61 3.50 ND : 3.83 3.76 4/ 4/ 4.09 4.15 3.79 3.70 OH : 3.72 3.55 3.72 3.55 OK : 3.68 3.59 3.68 3.59 OR : 3.87 3.93 3.84 3.90 4.08 4.15 SD : 3.83 3.78 3.65 3.63 3.88 3.83 TX : 3.51 3.51 3.51 3.51 WA : 3.91 3.92 3.89 3.90 3.98 4.00 : US : 3.77 3.71 3.68 3.61 4.08 4.15 3.83 3.81 -------------------------------------------------------------------------------- 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, 2003 and 2004 1/ -------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 2/ : All Hogs Month :----------------------------------------------------------------------- : 2003 : 2004 : 2003 : 2004 : 2003 : 2004 : 2003 : 2004 : 2003 : 2004 -------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ----- Dollars per Cwt ----- : Jan : 3.89 3.68 2.33 2.39 5.51 7.34 72.90 80.90 32.90 36.80 Feb : 3.70 3.77 2.34 2.61 5.55 8.28 73.90 78.50 34.30 42.60 Mar : 3.55 3.71 2.33 2.79 5.59 9.56 72.60 84.00 34.70 45.10 Apr : 3.37 2.34 5.82 74.50 34.80 May : 3.33 2.38 6.07 75.50 41.30 Jun : 3.08 2.34 6.09 74.90 45.00 Jul : 2.95 2.17 5.82 75.80 42.70 Aug : 3.34 2.15 5.68 79.30 39.60 Sep : 3.39 2.20 6.06 84.90 39.70 Oct : 3.45 2.12 6.61 91.50 36.70 Nov : 3.59 2.20 7.05 93.40 34.70 Dec : 3.69 2.32 7.17 90.40 34.20 -------------------------------------------------------------------------------- 1/ Current month prices are mid-month; prices for previous months are for the entire month. 2/ Cows, steers and heifers. Grains: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- :All Barley 1/: Corn : Oats : Soybeans : Sorghum Grain Month :----------------------------------------------------------------------- :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 : 8.53 4/ 4/ 4/ CA : 5/ 5/ CO : 2.96 2.82 2.62 2.84 ID : 3.14 3.12 IL : 2.65 2.80 4/ 4/ 8.37 9.60 5.15 5.30 IN : 2.75 2.88 8.38 9.81 IA : 2.54 2.80 1.84 1.75 8.38 9.60 KS : 2.81 2.96 8.33 9.47 4.66 4.84 KY : 2.74 2.95 8.11 9.50 LA : 8.41 10.00 MI : 2.62 2.85 4/ 1.80 8.21 9.60 MN : 4/ 4/ 2.37 2.56 1.49 1.52 8.16 9.54 MS : 8.57 4/ MO : 2.72 2.85 8.27 9.60 4.55 4.80 MT : 2.98 2.92 1.66 5/ NE : 2.53 2.75 1.28 1.40 8.19 9.50 4.53 4.80 NC : 3.06 3.15 8.09 9.30 ND : 2.57 2.56 2.51 2.60 1.21 1.25 7.75 9.05 OH : 2.67 2.82 1.70 1.70 8.38 9.65 OK : 4.88 4.90 OR : 2.47 2.45 2.11 4/ PA : 3.10 3.22 2.08 2.00 SD : 2.26 2.28 2.51 2.72 1.53 1.56 8.08 9.23 TN : 2.63 3.05 7.99 9.40 TX : 2.93 3.09 5/ 5/ 4.98 5.00 UT : 2.74 2.48 WA : 2.65 2.51 WI : 2.52 2.70 1.65 1.60 7.85 9.30 WY : 2.11 2.10 : US : 2.72 2.71 2.61 2.79 1.58 1.55 8.28 9.56 4.76 4.86 -------------------------------------------------------------------------------- 1/ The Three-State (MN, ND and SD) Feed Barley price for March 2004 is $1.87. 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 2004 -------------------------------------------------------------------------------- : Malting Barley : Feed Barley State :-------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : ID : 3.40 3.40 2.35 2.45 MN : 3/ 3/ 2.04 2.02 MT : 3.43 3.30 2.11 2.19 ND : 2.75 2.80 1.91 1.85 SD : 2.26 2.28 4/ 4/ WY : 4/ 4/ 2.11 2.10 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual firms. 4/ Insufficient sales to establish a price. Field Crops: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- : Dry Edible : All : : : : Beans : Sunflowers : Flaxseed : Tobacco : Peanuts 4/ State :--------------------------------------------------------------------- :Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 3/:Feb 1/:Mar 3/ -------------------------------------------------------------------------------- :------- Dollars per ------ Dollars per ------- Dollars per ------- :----------- Cwt ---------- Bushel ---------- Pound ---------- : AL : 0.141 5/ CA :32.50 33.00 CO :16.30 17.00 FL : 5/ 5/ GA : 0.169 5/ ID :18.90 18.70 IN : 1.900 6/ KS : 5/ 5/ KY : 1.945 1.710 MD : MI :20.50 20.00 MN :19.80 20.00 14.00 5/ MO : NE :15.70 16.40 NC : 0.226 5/ ND :15.70 15.90 12.80 13.00 6.40 6.50 OH : 1.835 6/ OK : SC : SD : 12.00 12.20 6.00 6/ TN : 1.900 1.630 TX : 5/ 5/ VA : 5/ 6/ WV : : US :17.50 19.00 12.80 12.90 6.40 6.50 1.935 1.670 0.188 0.198 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Based on sales through first half of month. 4/ In-Shell. 5/ Price not published to avoid disclosure of individual firms. 6/ Insufficient sales to establish a price. Tobacco: Prices Received, by Area and Type, March 2004, with Comparisons -------------------------------------------------------------------------------- Class by Type : Type : Mar 2003 : Feb 2004 : Mar 2004 1/ -------------------------------------------------------------------------------- : : Dollars per Pound : : Fire-cured : : Eastern District : 22 : 1.950 1.855 1.670 Western District : 23 : 1.740 1.910 2/ Total Fire-cured : 21-23 : 1.910 1.865 1.670 : : Light Air-cured : : Burley : 31 : 1.750 1.950 2/ Southern MD Belt : 32 : 1.560 2/ 2/ Total Light Air-cured : 31-32 : 1.615 1.950 2/ : : Dark Air-cured : : One Sucker Belt : 35 : 2/ 1.215 2/ Green River Belt : 36 : 2/ 1.100 2/ Total Dark Air-cured : 35-37 : 2/ 1.155 2/ : : US : 11-37 : 1.785 1.935 1.670 -------------------------------------------------------------------------------- 1/ Based on sales during the first half of the month. 2/ Insufficient sales to establish a price. Field Crops and Apples: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- : : 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 : 0.621 0.626 AZ : 0.638 0.665 84.00 84.00 79.00 AR : 0.626 0.631 CA : 0.729 0.706 97.00 98.00 85.00 0.267 CO : 84.00 84.00 79.00 GA : 0.630 0.625 ID : 84.00 86.00 70.00 IL : 92.00 97.00 75.00 IA : 87.00 88.00 62.00 KS : 70.00 78.00 54.00 KY : 71.00 100.00 58.00 LA : 0.625 0.627 MI : 98.00 100.00 90.00 0.190 MN : 65.00 68.00 53.00 MS : 0.627 0.625 MO : 67.00 107.00 53.00 MT : 71.00 73.00 65.00 NE : 50.00 51.00 45.00 NV : 90.00 88.00 107.00 NM : 139.00 142.00 117.00 NY : 109.00 125.00 90.00 0.217 NC : 0.636 0.599 ND : 53.00 58.00 40.00 OH : 85.00 116.00 49.00 0.300 OK : 85.00 102.00 56.00 OR : 96.00 96.00 96.00 PA : 128.00 147.00 116.00 0.191 SD : 61.00 64.00 48.00 TN : 0.623 0.626 TX : 0.568 0.560 69.00 142.00 63.00 UT : 74.00 75.00 62.00 VA : 0.240 WA : 92.00 80.00 115.00 0.330 WI : 94.00 100.00 60.00 WY : 71.00 72.00 66.00 : US : 0.627 0.618 81.80 85.90 70.90 0.307 -------------------------------------------------------------------------------- 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. 7/ Insufficient sales to establish a price. Upland Cotton and Rice: Prices Received and Marketings, United States, March 2004, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Jan 2004 1/ : Feb 2004 1/ : Mar 2004 2/ -------------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars per Pound : 0.625 0.627 0.618 Marketings 3/ : 1,000 Bales : 1,546 1,422 NA : : Rice : : Average Price : Dollars per Cwt : 8.19 7.74 7.72 Marketings 4/ : 1,000 Cwt : 19,884 12,921 NA -------------------------------------------------------------------------------- 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Expanded data from sample of about 65 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 2004 -------------------------------------------------------------------------------- : : Equivalent Returns 1/ Commodity, :F.O.B. :----------------------------------------------------- State :Packed : Packinghouse-door : On-tree and Type : Fresh :----------------------------------------------------- : : All : Fresh :Process : All : Fresh :Process -------------------------------------------------------------------------------- : Dollars per Box : Grapefruit : AZ : 17.00 10.49 10.49 8.17 8.17 CA : 15.20 8.12 8.69 -0.27 5.80 6.37 -2.59 FL : 16.30 4.09 8.54 2.20 1.64 6.28 -0.34 White : 16.70 2.93 8.70 2.20 0.54 6.40 -0.20 Colored : 16.20 5.19 8.50 2.20 2.68 6.25 -0.55 TX : 15.30 3.40 5.31 0.80 2.25 4.14 -0.32 : US : 16.10 4.11 8.12 2.13 1.77 6.01 -0.34 : Lemons : AZ : 20.80 2.70 10.70 0.20 -1.65 6.35 -4.15 CA : 27.20 8.94 17.10 0.20 4.59 12.75 -4.15 : US : 27.20 8.84 17.05 0.20 4.49 12.70 -4.15 : Oranges : AZ : Navel and Misc: 16.50 5.47 9.12 -0.18 3.01 6.66 -2.64 : CA : 19.60 10.99 12.28 0.38 8.53 9.82 -2.08 Navel and Misc: 19.80 10.92 12.42 0.38 8.46 9.96 -2.08 Valencia : 18.60 11.43 11.54 0.32 8.94 9.05 -2.17 : FL : 12.90 4.30 5.40 4.28 2.20 3.21 2.18 Early and Mids: 12.50 3.37 5.00 3.30 1.27 2.85 1.20 Valencia : 13.00 4.43 5.50 4.40 2.32 3.30 2.30 : TX : 12.80 2.69 2.73 2.55 1.35 1.38 1.25 Early and Mids: 12.20 2.20 2.11 2.55 0.86 0.76 1.25 Valencia : 15.50 4.55 5.41 2.55 3.21 4.06 1.25 : US : 18.70 5.53 11.27 4.17 3.37 8.87 2.06 : Tangerines : AZ : 20.20 9.17 13.14 0.70 6.68 10.65 -1.79 CA : 24.10 15.62 17.04 0.32 13.13 14.55 -2.17 FL : 22.00 10.22 12.50 3.70 6.56 9.10 -0.70 : US : 22.70 11.91 14.29 2.82 8.75 11.31 -1.05 : Temples : FL : 13.20 3.01 4.80 2.80 0.62 2.50 0.40 -------------------------------------------------------------------------------- 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; Temples - 90. Potatoes: Prices Received, by States, February and March 2004 ------------------------------------------------------------------------------- : : :: : : State : Feb : Mar :: State : Feb : Mar : : :: : : ------------------------------------------------------------------------------- : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : :: ND - All 1/ : 5.60 5.55 CA - All : 17.10 19.70 :: - Fresh 2/ : 5.15 NA - Winter : 19.30 26.30 :: - Processing : 5.65 NA - Spring : :: OH : 6.00 5.25 - Summer : :: OR : 5.65 6.35 - Fall : 9.65 9.45 :: PA : 7.35 8.20 CO - All 1/ : 4.85 5.05 :: TX : - Fresh 2/ : 4.60 NA :: VA : FL : 20.50 27.00 :: WA - All : 5.80 5.80 ID - All 1/ : 4.00 4.75 :: - Processing : 5.40 NA - Fresh 2/ : 3.40 NA :: WI - All 1/ : 6.25 6.25 - Processing : 4.40 NA :: - Fresh 2/ : 3.80 NA ME : 5.70 5.95 :: - Processing : 7.25 NA MI : 7.40 7.70 :: : MN : 5.05 5.30 :: US - All 1/ : 5.93 6.30 NY : 8.90 9.35 :: - Fresh 2/ : 6.47 NA : :: - Processing : 5.49 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, February and March 2004 -------------------------------------------------------------------------------- : 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 : 46.00 47.00 89.00 90.30 88.60 89.90 112.00 113.00 AR : 42.50 41.80 87.20 91.50 73.80 76.60 107.00 112.00 CA : 41.50 43.00 80.00 86.00 60.80 64.50 101.00 113.00 CO : 46.70 47.00 89.90 91.90 89.50 91.50 115.00 117.00 FL : 44.60 44.90 88.70 92.00 53.90 55.30 110.00 113.00 GA : 47.30 46.30 83.60 88.40 60.40 63.10 107.00 113.00 ID : 42.20 45.90 79.20 85.30 71.10 75.80 106.00 109.00 IL : 41.00 43.00 79.00 87.00 78.20 86.10 97.00 101.00 IA : 43.30 45.10 84.30 93.40 83.50 92.40 104.00 105.00 KS : 47.40 48.80 80.30 86.70 79.30 85.60 116.00 120.00 KY : 44.00 43.00 85.00 89.00 75.20 78.00 101.00 107.00 LA : 45.10 45.00 88.40 93.00 57.20 58.40 105.00 107.00 MI : 47.00 46.00 72.00 75.00 64.50 66.30 95.00 95.00 MN : 48.50 49.00 77.60 80.00 70.60 72.60 97.70 105.00 MO : 45.10 44.60 94.00 97.00 77.40 85.50 111.00 116.00 MT : 47.60 47.70 92.30 94.30 83.40 84.50 112.00 113.00 NE : 48.60 49.70 83.60 90.30 82.60 89.10 116.00 122.00 NM : 47.20 48.40 88.00 93.60 71.70 77.30 105.00 110.00 ND : 48.20 49.00 88.40 90.00 84.40 85.90 104.00 105.00 OH : 40.00 40.00 76.10 80.00 72.50 76.00 93.30 95.00 OK : 47.10 47.20 86.40 94.20 83.30 90.40 110.00 114.00 OR : 44.30 45.00 85.90 90.00 73.40 76.50 100.00 101.00 PA : 46.00 44.50 76.20 81.70 68.30 72.00 115.00 110.00 SD : 47.50 49.00 86.60 88.50 80.00 84.60 111.00 117.00 TN : 42.00 43.00 87.00 91.00 69.00 71.80 102.00 110.00 TX : 46.00 44.80 81.60 90.10 79.10 86.50 111.00 117.00 VA : 41.90 40.60 81.70 86.00 67.00 73.70 99.00 101.00 WI : 47.00 48.60 76.90 83.60 59.60 63.30 130.00 133.00 WY : 47.10 48.00 87.60 90.00 80.70 83.70 122.00 124.00 : US : 46.10 46.70 82.30 88.60 78.50 84.00 111.00 114.00 -------------------------------------------------------------------------------- 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 2004 -------------------------------------------------------------------------------- : Sows : Barrows and Gilts : All Hogs :----------------------------------------------------------------------- State : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Cwt : AR : 36.30 40.50 40.90 43.10 40.40 42.80 IL : 34.00 38.00 47.00 49.00 46.00 48.10 IN : 39.10 43.30 44.60 47.00 44.10 46.70 IA : 37.00 39.20 40.50 42.40 40.40 42.30 KS : 36.30 40.00 41.10 44.00 40.50 43.60 MI : 32.00 36.00 40.00 43.00 39.40 42.40 MN : 36.90 41.00 43.80 47.00 43.80 47.00 MO : 34.10 40.00 41.50 44.20 40.90 43.90 NE : 36.20 39.50 45.00 47.50 44.80 47.30 NC : 35.50 40.30 44.70 48.00 44.60 47.90 OH : 35.10 38.00 45.40 47.00 44.70 46.40 OK : 33.90 39.50 38.70 40.10 38.00 40.00 PA : 33.00 37.80 44.40 46.10 42.70 44.90 SD : 31.10 37.00 46.20 48.00 44.20 46.90 TX : 28.20 30.20 39.90 39.00 38.10 37.90 WI : 32.80 36.10 41.90 45.40 40.70 44.20 : US : 35.10 38.90 43.00 45.40 42.60 45.10 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- : February : March State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Eggs 2/ 3/ -------------------------------------------------------------------------------- : ------ Dollars per Cwt ------ Dollars per Dozen : AL : 0.970 AR : 0.950 CA : 43.00 93.00 1.120 CO : 33.10 107.00 CT : 1.030 FL : 1.010 GA : 1.008 ID : 39.00 95.00 IN : 0.950 IA : 46.20 100.00 0.939 KS : 36.00 101.00 ME : 1.120 MI : 1.030 MN : 37.80 99.80 0.990 MS : 0.990 MO : 0.940 MT : 39.00 123.00 NE : 43.00 103.00 NY : 1.020 NC : 1.000 ND : 40.00 104.00 OH : 40.90 107.00 1.027 OR : 36.40 94.00 PA : 1.020 SC : 0.990 SD : 44.00 117.00 TX : 46.80 122.00 0.960 UT : 36.00 106.00 WA : 1.140 WY : 40.00 121.00 : US : 41.20 107.00 1.000 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, February and March 2004 -------------------------------------------------------------------------------- : February 1/ : March :------------------------------------------------------------------------ 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 : 13.00 3.61 13.00 3.61 14.10 3.60 CA : 12.40 3.75 13.00 4.02 12.41 3.75 13.70 3.72 FL : 15.80 3.65 15.80 3.65 16.10 3.60 ID : 12.70 3.70 13.10 3.74 12.70 3.70 13.50 3.63 IL : 13.70 3.77 13.40 3.65 13.70 3.77 14.50 3.75 IN : 13.30 3.78 12.00 3.90 13.20 3.79 13.90 3.79 IA : 13.70 3.71 12.60 3.91 13.70 3.72 14.60 3.71 KY : 14.40 3.72 14.40 3.72 14.80 3.70 MI : 13.60 3.73 12.50 3.74 13.60 3.73 14.50 3.72 MN : 13.90 3.81 12.20 3.83 13.80 3.81 14.90 3.79 MO : 13.50 3.74 12.70 3.97 13.50 3.75 14.40 3.70 NM : 13.00 3.64 13.00 3.64 13.80 3.60 NY : 14.30 3.74 14.30 3.74 14.80 3.74 OH : 14.10 3.78 13.30 3.93 14.10 3.79 14.50 3.76 PA : 15.30 3.75 12.70 3.85 15.30 3.75 16.30 3.75 TX : 14.20 3.76 14.20 3.76 15.00 3.71 VT : 14.20 3.74 14.20 3.74 14.80 3.73 VA : 15.30 3.68 15.30 3.68 16.00 3.65 WA : 13.40 3.75 13.40 3.75 15.00 3.74 WI : 14.10 3.81 13.00 3.94 14.10 3.82 15.70 3.81 : US : 13.60 3.75 12.80 3.91 13.60 3.75 14.70 3.73 -------------------------------------------------------------------------------- 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 January, April, July and October. Parity Price Equivalent for Manufacturing Milk 1/: United States, February and March 2004, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Mar 2003 : Feb 2004 : Mar 2004 -------------------------------------------------------------------------------- Parity Equivalent : Dollars per Cwt : 30.37 30.83 31.10 Average Price F.O.B 2/ : Dollars per Cwt : 9.80 12.80 14.10 Average Fat Test of Milk 2/ : Percent : 3.88 3.91 3.89 -------------------------------------------------------------------------------- 1/ The parity price equivalent during 2004 is 90.4 percent of the parity price of all milk sold to plants, compared with 90.4 percent in 2003. For additional details, see January 2004 issue of "Agricultural Prices". 2/ Preliminary for March 2004. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for March 2004, 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 : : 2003 : 2004 : 2004 : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- :---------- Dollars ---------- ---- Percent --- : Basic Commodities : All Wheat, Bu : 0.564 9.71 9.76 9.84 37 39 38 Rice, Cwt : 1.63 26.60 28.20 28.40 16 27 27 Corn, Bu : 0.379 6.64 6.56 6.61 35 40 42 Cotton, Lb : American Upland : 0.113 1.71 1.95 1.97 28 32 31 Extra Long Staple : 0.144 2.39 2.49 2.51 Peanuts, Lb : 0.0370 0.662 0.640 0.645 34 29 31 Tobacco, By Type, Lb : Flue-Cured 11-14 : 0.259 4.37 4.48 4.52 VA Fire-Cured, 21 : 0.257 4.42 4.45 4.48 KY-TN Fire-Cured, 22-23 : 0.322 5.46 5.57 5.62 35 35 Burley, 31 : 0.277 4.69 4.79 4.83 37 41 Maryland, 32 : 0.215 3.72 3.72 3.75 42 Dark Air-Cured, 35-36 : 0.282 4.71 4.88 4.92 24 Sun-Cured, 37 : 0.246 4.15 4.26 4.29 PA Seedleaf, 41 : 0.206 3.40 3.56 3.59 Cigar Filler & Binder, : 42-44, 54-55 : 0.225 3.77 3.89 3.92 Puerto Rican Filler, 46 : 0.162 2.78 2.80 2.83 Cigar Binder, 51-52 : 0.736 12.30 12.70 12.80 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt 2/ : 1.97 33.60 34.10 34.40 34 42 45 Honey, Extracted, Lb 3/ : 0.1050 1.60 1.82 1.83 : Wool and Mohair : Wool, Lb : 0.0880 1.55 1.52 1.53 Mohair, Lb : 0.334 5.55 5.78 5.82 : Other Nonbasic : Barley, Bu : 0.376 6.57 6.50 6.56 43 42 41 Cottonseed, Ton :15.80 266.00 273.00 276.00 51 Dry Edible Beans, Cwt : 2.92 50.70 50.50 50.90 31 35 37 Flaxseed, Bu : 0.728 12.00 12.60 12.70 54 51 51 Oats, Bu : 0.221 4.15 3.82 3.85 50 41 40 Potatoes, Cwt : 0.854 13.90 14.80 14.90 49 40 42 Rye, Bu : 0.353 5.86 6.11 6.16 Sorghum Grain, Cwt : 0.616 11.20 10.70 10.70 35 44 45 Soybeans Bu : 0.892 14.50 15.40 15.60 39 54 61 Sweetpotatoes, Cwt : 2.25 37.40 38.90 39.20 Apples, Fresh, Lb 4/ : 0.0296 0.490 0.512 0.516 46 57 59 Citrus (equiv on-tree), Box : Grapefruit : 0.387 6.62 6.70 6.75 24 34 26 Lemons : 1.10 18.80 19.00 19.20 3 14 23 Oranges : 0.618 9.73 10.70 10.80 43 27 31 Tangerines : 1.42 24.90 24.60 24.80 37 35 35 Temples (FL) : 0.451 7.90 7.80 7.87 18 6 8 Beef Cattle, Cwt : 9.55 161.00 165.00 167.00 45 48 50 Calves, Cwt :12.80 217.00 221.00 223.00 45 50 51 Hogs, Cwt : 5.91 103.00 102.00 103.00 34 42 44 Lambs, Cwt :11.30 186.00 195.00 197.00 52 55 Sheep, Cwt : 4.70 79.40 81.30 82.00 52 51 Eggs, Doz 2/ : 0.0949 1.59 1.64 1.66 43 51 66 Turkeys, Live, Lb : 0.0574 0.988 0.993 1.000 36 35 37 -------------------------------------------------------------------------------- --continued Parity Prices Based on Data for March 2004, United States 1/ (continued) ------------------------------------------------------------------------------- Other Nonbasic :Adj Base: Parity :: Other Nonbasic :Adj Base: Parity Commodities : Prices : Prices :: Commodities : Prices : Prices ------------------------------------------------------------------------------- :Dollars Dollars :: :Dollars Dollars : :: : Field Crops and : :: Noncitrus Fruit : Misc Commodities : :: Peaches, cont. : Hops, Lb : 0.256 4.46 :: Processing 5/ : Spearmint Oil, Lb : 1.53 26.70 :: Excl Dried : Tobacco, Lb : :: Clingstone, : Type 61 : 2.51 43.80 :: CA, Ton : 32.80 572.00 : :: Pears, Ton : Noncitrus Fruit : :: Fresh 4/ : 51.60 900.00 Apples, Ton 6/ : :: Dried, CA 6/ : 166.00 2,900.00 Processing : 17.90 312.00 :: Plums, CA, Ton : Apricots, Ton : :: Fresh, Equiv : Fresh 7/ : 99.70 1,740.00 :: on-Tree : 57.40 1,000.00 Dried, CA :273.00 4,760.00 :: Prunes, Dried, : Avocados, Ton 7/ :238.00 4,150.00 :: CA, Ton 6/ : 129.00 2,250.00 Cherries Bbl : :: Prunes and Plums, : Sweet, Ton :184.00 3,210.00 :: Excl CA, Ton : Tart, Lb : 0.0267 0.466:: Fresh 9/ : 56.90 992.00 Cranberry, Bbl 5/ : 5.92 103.00 :: Processing 6/ : Dates, CA, Ton 7/ :170.00 2,960.00 :: Excl Dried : 26.30 459.00 Grapes, Ton : :: : Raisin Variety :121.00 2,110.00 :: Tree Nuts 10/ : Other Dried : 44.20 771.00 :: Almonds, Lb : 0.204 3.56 Kiwifruit, Ton : 80.80 1,410.00 :: Hazelnuts, Ton : 130.00 2,270.00 Nectarines : :: Pistachio, Lb : 0.159 2.77 Fresh, CA, : :: Walnuts, Ton : 176.00 3,070.00 Ton 7/ : 63.00 1,100.00 :: : Olives, CA : :: Vegetables, Cwt 11/ : canning, Ton 5/ : 95.50 1,670.00 :: Fresh : Papayas (HA) : 0.0520 0.907:: Carrots 8/ : 2.21 38.50 Peaches : :: Cauliflower 8/ : 4.55 79.40 Fresh, Lb 4/ : 0.0408 0.712:: Celery 8/ : 1.98 34.50 Dried, CA, : :: Honeydew Melons : 2.79 48.70 Ton : 92.50 1,610.00 :: Lettuce : 2.50 43.60 : :: Onions 8/ : 1.68 29.30 : :: Tomatoes : 4.39 76.60 ------------------------------------------------------------------------------- 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 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. 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 131 (1990-92=100), 0.8 percent higher than February and 2.3 percent above March 2003. PRODUCTION INDEX: The index, at 128, is up 0.8 percent from last month and 3.2 percent above last year. Higher prices in March for feeder cattle, feed grains, diesel fuel, and gasoline account for most of the index increase. Feed: The Feed Index, at 125, is 0.8 percent above February and 9.6 percent above last March. Since February, prices are higher for feed grains and hay & forages. Livestock and Poultry: The index for livestock and poultry purchases, at 115, is 4.5 percent higher than last month and 17 percent above last year. Since February, prices are higher for feeder cattle and feeder pigs. The March feeder cattle price, at $96.10 per cwt, is up $5.20 per cwt from the February price. The March feeder pig price increased $5.00 to $115.00 per cwt. Fertilizer: The index, at 132, is unchanged from February but 4.8 percent more than March a year ago. Agricultural Chemicals: The index, at 119, is unchanged from last month but 0.8 percent below last March. Fuels: The index, at 149, is up 2.8 percent from a month earlier but 16.3 percent below March 2003. Compared to last month, prices are higher for diesel fuel and gasoline. Farm Machinery: The index, at 150, is unchanged from February but 0.7 percent higher than last March. CONSUMER PRICE INDEX: The February 2004 Consumer Price Index for all urban consumers (CPI-U) increased 0.5 percent before seasonal adjustment to a level of 186.2 (1982-84=100). This compares to the January index of 185.2. The overall index has increased 1.7 percent for the 12-month period ending in February. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, March 2004 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2003 : 2004 : 2003 : 2004 Ratios :---------------------------------------------- : Mar : Feb : Mar : Mar : Feb : Mar : Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1,704 *1,736 1,744 128 130 131 Production : 1,200 *1,228 1,237 124 127 128 Feed : 556 *603 609 114 *124 125 Livestock & Poultry : 1,254 *1,404 1,471 98 110 115 Seeds : 1,426 1,553 1,553 144 157 157 Fertilizer : 463 *482 482 126 *132 132 Agricultural Chemicals : 744 *737 737 120 *119 119 Fuels : 1,371 *1,120 1,151 178 *145 149 Supplies & Repairs : 942 *952 952 133 134 134 Autos & Trucks : 3,076 *3,052 3,052 116 115 115 Farm Machinery : 3,733 3,760 3,760 149 150 150 Building Material : 1,665 *1,704 1,704 123 125 125 Farm Services & Rent : 1,441 1,449 1,449 Farm Services : 122 123 123 Rent : 120 120 120 Interest 1/ : 2,599 2,616 2,616 104 104 104 Taxes 2/ : 3,426 3,474 3,474 128 130 130 Wage Rates : 6,035 *6,080 6,080 161 *163 163 Production, Interest, Taxes, : & Wage Rates (PITW) : 1,694 *1,730 1,741 126 *129 130 Family Living-CPI 3/ : 1,749 *1,759 1,759 137 137 137 : : :---------------------------------------------- Ratio (Received\Paid) : 77 *89 93 Parity Ratio 4/ : 37 42 44 Parity Ratio Adjusted 5/ : 40 *44 46 PPITW Adjusted for : Productivity 6/ : 1184 *1208 1209 : : :---------------------------------------------- Crop Sector (PPITW) : 132 *133 133 Livestock Sector (PPITW) : 124 *128 129 : : :---------------------------------------------- Farm Sector (Production) : 113 124 126 Non-Farm Sector (Production) : 129 128 128 -------------------------------------------------------------------------------- * 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 1.048 for 2004 and the revised factor is 1.082 for 2003. 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 2004 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 1/ : 2003 : 2004 :----------------------------------------------------- : 2003 : 2004 : Mar : Feb : Mar -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 66.7 66.2 124 127 128 : Feed : 11.0 10.7 114 *124 125 Feed Grains : 1.6 1.5 102 *113 120 Complete Feeds : 5.4 5.2 114 *126 126 Hay/Forages : 1.4 1.3 120 106 107 Concentrates : 1.7 1.7 110 *131 131 Supplements : 0.9 0.9 134 *141 141 Livestock & Poultry : 7.2 7.4 98 110 115 Feeder Cattle : 5.6 5.8 92 107 113 Feeder Pigs : 0.6 0.6 123 *120 125 Milk Cow Replacements : 0.6 0.6 121 123 123 Poultry : 0.4 0.4 111 111 111 Seeds : 3.2 3.3 144 157 157 Field Crops : 2.9 3.0 147 162 162 Grasses/Legumes : 0.3 0.3 118 109 109 Fertilizer : 4.5 4.4 126 *132 132 Mixed Fertilizer : 2.0 1.9 112 *114 114 Nitrogen : 1.9 1.8 147 *156 156 Potash & Phosphate : 0.6 0.6 112 *114 114 Agricultural Chemicals : 3.8 3.7 120 *119 119 Herbicides : 2.4 2.4 112 *110 110 Insecticides : 0.9 0.9 146 *147 147 Fungicides/Other : 0.5 0.5 114 *113 113 Fuels : 2.7 2.7 178 *145 149 Diesel : 1.5 1.5 179 *138 142 Gasoline : 0.8 0.8 168 *131 138 LP Gas : 0.4 0.4 193 *204 204 Farm Supplies & Repairs : 5.5 5.4 133 134 134 Supplies : 1.8 1.8 124 *126 126 Repairs : 3.6 3.6 137 138 138 Autos & Trucks : 1.8 1.8 116 115 115 Autos : 0.2 0.2 109 108 108 Trucks : 1.5 1.6 117 116 116 Farm Machinery : 4.0 4.0 149 150 150 Tractors : 0.9 0.9 141 143 143 Self-Propelled : 1.6 1.6 148 149 149 Other Machinery : 1.5 1.5 155 155 155 Building Materials : 3.1 3.3 123 125 125 Farm Services : 12.4 12.4 122 123 123 Custom Rates : 1.3 1.3 125 125 125 Other Services : 11.1 11.1 121 *122 122 Rent : 7.4 7.1 120 120 120 Cash : 4.0 3.8 145 145 145 Share : 3.4 3.3 91 91 91 Interest : 4.7 4.7 104 104 104 Taxes : 3.0 3.0 128 130 130 Wage Rates : 7.4 7.6 161 *163 163 Family Living-CPI : 18.2 18.5 137 137 137 -------------------------------------------------------------------------------- * Revised. 1/ Weights may not add due to rounding. Feed Price Ratios: United States, March 2004 with Comparisons -------------------------------------------------------------------------------- : 2003 : 2004 Feed Price Ratio 1/ :----------------------------- : Mar : Feb : Mar -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed : equal in value to 1 pound of broiler, live weight : 5.2 *5.5 4.9 : Market Egg Feed: Pounds of Laying Feed equal in : Value to 1 dozen eggs : 9.5 *10.7 13.0 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 14.9 *16.3 16.2 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.27 *2.61 2.64 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 32.9 *31.5 31.8 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 5.9 *4.6 4.4 -------------------------------------------------------------------------------- * 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, March 2004 with Comparisons -------------------------------------------------------------------------------- : : 2003 : 2004 Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.330 0.470 0.470 Eggs, Market : Doz : 0.518 0.745 1.000 : : Hogs, All : Cwt : 34.70 *42.60 45.10 Milk, All : Cwt : 11.00 *13.60 14.70 : : Steers and Heifers : Cwt : 76.70 *82.30 88.60 Turkeys, Live : Lb : 0.351 0.350 0.366 : : Corn : Bu : 2.33 *2.61 2.79 Hay, Alfalfa, Baled : Ton : 96.70 84.70 85.90 : : Soybeans : Bu : 5.59 *8.28 9.56 Wheat, All : Bu : 3.55 *3.77 3.71 -------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States March 2004 with Comparisons -------------------------------------------------------------------------------- : : 2003 : 2004 Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 78.00 90.90 96.10 Feeder Pigs : Cwt : 113.00 *110.00 115.00 -------------------------------------------------------------------------------- * Revised. Prices Paid by Farmers Definition: Prices paid by farmers represent the average costs of inputs purchased by farmers and ranchers to produce agricultural commodities. Conceptually, the average price when multiplied by quantity purchased should equal total producer expenditures for the item. Survey Procedures: The prices paid data are obtained from establishments that sell goods and services to farmers and ranchers. Annually, about 8,500 firms are randomly selected from lists by type of item sold with an average response rate in the range of 75-80 percent. Firms are asked to report the price for the specified item "most commonly bought by farmers" or that was the "volume seller". Approximately 135 items are surveyed each April to represent all production input items purchased. The survey reference period for most items is the 5 business days centered around the 15th of the month. Separate prices paid surveys are conducted for, agricultural chemicals, fuels, feed, fertilizer, machinery, and seed. Summary and Estimation Procedures: The annual April 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 Joe Prusacki Chief, Crops Branch . . . . . . . . . . . . . . .(202) 720-2127 Greg Thessen, 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, Flaxseed. . . . . . . . .(202) 720-9526 Troy Joshua - Hay, Oats, Sorghum . . . . . . . . . . . . . .(202) 690-3234 Mark R. Miller - Peanuts, Rice . . . . . . . . . . . . . . .(202) 720-7688 Brian Young - Sugarcane, Sugarbeets, Barley. . . . . . . . .(202) 720-7621 Jim Smith, Fruit and Vegetable Section . . . . . . . . . . . .(202) 720-2127 Jorge Garcia-Pratts - Citrus . . . . . . . . . . . . . . . .(202) 720-5412 Debbie Flippin - Peaches, Pears, Hops, Pulses, Mint. . . . .(202) 720-3250 Terry O'Connor - Apples, Apricots, Cherries, Cranberries, Plums, Prunes . . . . . . . . . . . . . . . . . . . . . . . . . . . .(202) 720-4288 Mike Miller - Grapes, Tobacco. . . . . . . . . . . . . . . .(202) 720-7235 Cathy Scherrer, Potatoes, Dry Edible Beans, Sweet Potatoes .(202) 720-4285 Biz Wallingsford - Vegetables, Onions, Strawberries. . . . .(202) 720-2157 Livestock Prices Received Dan Kerestes, Chief, Livestock Branch. . . . . . . . . . . . .(202) 720-3570 Wil Hundl, Livestock Section . . . . . . . . . . . . . . . . .(202) 720-3570 Steve Anderson - Cattle. . . . . . . . . . . . . . . . . . .(202) 720-3040 Scott Hollis - Sheep, Lambs, Wool, Mohair. . . . . . . . . .(202) 720-4751 Ty Kalaus - Milk, Milk Cows. . . . . . . . . . . . . . . . .(202) 690-3236 Dan Lofthus - Hogs . . . . . . . . . . . . . . . . . . . . .(202) 720-3106 Nathan Crisp, 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 Kevin Hintzman, 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 April 30, 2004. 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