Pr 1 (5-04) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released May 28, 2004, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on Agricultural Prices see page 44, office hours 7:30 a.m. to 4:00 p.m. ET. May Farm Prices Received Index Reaches Third Consecutive Record High The preliminary All Farm Products Index of Prices Received by Farmers in May at 132, based on 1990-92=100, is 7 points (5.6 percent) above the April Index. This is the highest index level since records began in 1910. The Livestock Products Index, also at a record high, increased 9 points (7.1 percent) from April while the All Crops Index increased 4 points (3.3 percent). Producers received higher commodity prices for milk, hogs, cattle, and broilers. Lower prices were received for lettuce, eggs, corn, 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 cantaloups, grapes, sweet corn, and broilers offset decreased marketings of cattle, milk, apples, and asparagus. The preliminary All Farm Products Index is up 27 points (26 percent) from May 2003. The Food Commodities Index increased 9 points (7.1 percent) from last month to 135. The index stands 31 points (30 percent) above May 2003. Prices Paid Index Up 1 Point The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 134 percent of the 1990-92 average. The index is up 1 point from April and 7 points (5.5 percent) above May 2003. Higher prices in May for complete feeds, feeder cattle, hay and forages, and gasoline more than offset lower prices for feed concentrates, feed grains, feeder pigs, and nitrogen fertilizers. Index Summary Table -------------------------------------------------------------------------------- : 2003 : 2003 : 2004 : 2004 Index :-------------------------------------------------------------- 1990-92=100 : Apr : May : Apr : May -------------------------------------------------------------------------------- : Prices Received : 101 105 125 132 : Prices Paid : 128 127 133 134 : Ratio 1/ : 79 83 94 99 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid by farmers. Prices Received by Farmers The May Prices Received by Farmers Index for All Farm Products is 132 percent of its 1990-92 base, up 5.6 percent from the April index and 26 percent above the May 2003 index. ALL CROPS: The May index is 127, up 3.3 percent from April and 10 percent above May 2003. From April, index increases for fruits and nuts and commercial vegetables more than offset an index decrease for food grains. Food Grains: The May index, at 123, is down 3.2 percent from the previous month but 21 percent above May 2003. The May all wheat price, at $3.73 per bushel, is down 16 cents from April but 40 cents above May 2003. Feed Grains & Hay: The May index, at 124, is unchanged from last month but 13 percent above May 2003. The corn price, at $2.78 per bushel, is down 11 cents from last month but 40 cents above May 2003. The all hay price, at $101.00 per ton, is $11.40 above April and $3.00 above last May. Oil-Bearing Crops: The May index, at 171, is unchanged from April but 57 percent above May 2003. The soybean price, at $9.60 per bushel, is down 2 cents from April but $3.53 above May 2003. Potatoes & Dry Beans: The May index, at 116, is unchanged from last month but 0.9 percent below May 2003. The all potato price, at $6.75 per cwt, is down 9 cents from the previous month and 21 cents below last May. The dry edible bean price, at $21.80 per cwt, is $2.20 above last month and up $2.70 from May 2003. Cotton: The May index, at 101, is unchanged from April but 33 percent above May 2003. The May price, at 61.2 cents per pound, is unchanged from the previous month but 15.3 cents above last May. Fruits & Nuts: The May fruit and nut index, at 113, is up 23 percent from the previous month and 5.6 percent above May 2003. The grapefruit price, at $3.87 per box, is up $2.06 from April but $2.29 below May 2003. The price for strawberries, at $62.30 per cwt, is up $9.90 from last month but down $1.90 from May 2003. Commercial Vegetables: The May index, at 136, is up 0.7 percent from last month but 1.4 percent less than May 2003. The broccoli price, at $31.00 per cwt, is $7.10 above last month and $1.30 greater than May 2003. In contrast, the lettuce price, at $10.30 per cwt, decreased $4.40 from a month ago and is $10.90 below last May. LIVESTOCK & PRODUCTS: The May index, at 135, is up 7.1 percent from last month and up 41 percent from May 2003. Compared with a year ago, prices are higher for dairy, broilers, all cattle, hogs, calves, eggs, and turkeys. Meat Animals: The May index, at 122, is up 8.0 percent from last month and up 22 percent from last year. The May beef cattle price of $88.40 is up $3.60 from last month and up $12.90 from May 2003. The May hog price of $57.80 per cwt is up $10.40 from April and up $16.50 from this same time a year ago. Dairy Products: The May index, at 155, is up 12 percent from April and up 85 percent from May 2003. The May all milk price of $20.30 per cwt is up $2.10 from April and up $9.30 from last year. The fluid grade milk price is up $2.10 from last month and the manufactured grade milk price is up $1.30. Poultry & Eggs: The index, at 141, is up 0.7 percent from April and 37 percent above a year ago, due to increased prices for broilers and turkeys. May market egg prices, at 46.8 cents per dozen, decreased 14.6 cents from April, continuing the decrease from the post Easter period. The May broiler price, at 50.0 cents per pound, reached a new record high due to strong domestic and increasing global demand. The May turkey price, at 40.4 cents per pound, is up 1.7 cents from last month. Cumulative placement of turkey poults is 4 percent below last year. 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 . . . . . . . . . . . . . . . . . 34 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, Upland . . . . . . . . . . . . . . . . . . . . . 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, All . . . . . . . . . . . . . . . . . . . . 16 Tobacco . . . . . . . . . . . . . . . . . . . . . . . . 16 Wheat, All Classes . . . . . . . . . . . . . . . . . . . 14 Prices Received Special Features Page Marketing Seasons for Specified Commodities . . . . . 26 Marketing Year Average Prices Tobacco, All . . . . . . . . . . . . . . . . . . . . 26 By Type. . . . . . . . . . . . . . . . . . . . . . 27 Monthly Price Revisions Tobacco, by Type . . . . . . . . . . . . . . . . . . 29 All. . . . . . . . . . . . . . . . . . . . . . . . 33 Table of Contents (continued) U.S. Prices Paid, Prices Paid Indexes and Ratios Page Narrative . . . . . . . . . . . . . . . . . . . . 35 Indexes and Parity Ratios . . . . . . . . . . . . . 36 Charts . . . . . . . . . . . . . . . . . . . . . . 38 Feed Ratios . . . . . . . . . . . . . . . . . . . . 41 Reliability Statement . . . . . . . . . . . . . . . 43 U.S. Average Prices Commodity Prices Used in Feed Price Ratios . . . . 41 Feeder Livestock . . . . . . . . . . . . . . . . . 41 Special Features Feed: Price Ratios, January 2001 - May 2004 . . . . 42 Information Contacts . . . . . . . . . . . . . . . 44 Index Numbers of Prices Received, United States, May 2004, with Comparisons -------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2003 : 2004 : 2003 : 2004 :Average :--------------------------------------------- :1990-92 : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- : All Farm Products : 639 667 *793 836 105 *125 132 : All Crops : 500 569 *606 626 115 *123 127 Food Grains : 325 326 *402 390 102 *127 123 Feed Grains & Hay : 363 392 *445 442 110 124 124 Cotton : 517 388 *517 517 76 *101 101 Tobacco : 1,263 574 38 Oil-Bearing Crops : 554 594 *935 934 109 *171 171 Fruits & Nuts : 716 746 *639 788 107 *92 113 Commercial Vegetables : 698 922 *905 907 138 *135 136 Potatoes & Dry Beans : 540 592 *585 586 117 *116 116 Other Crops : 493 564 569 569 114 115 115 : Livestock & Products : 768 740 *968 1,039 96 *126 135 Meat Animals : 1,021 1,014 *1,150 1,237 100 *113 122 Dairy Products : 799 676 *1,118 1,247 84 *139 155 Poultry & Eggs : 282 288 *392 398 103 140 141 : Food Commodities : 104 *126 135 -------------------------------------------------------------------------------- * 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 : 99 111 103 113 96 110 127 131 122 127 Feb : 99 116 104 120 95 112 128 131 123 128 Mar : 99 121 106 120 93 121 128 133 124 130 Apr : 101 125 110 123 93 126 128 133 124 131 May : 105 132 115 127 96 135 127 134 123 132 Jun : 107 118 99 128 123 Jul : 105 109 101 127 123 Aug : 109 113 105 127 123 Sep : 111 111 110 129 125 Oct : 113 111 116 130 126 Nov : 115 114 117 130 127 Dec : 114 115 112 130 127 -------------------------------------------------------------------------------- Prices Received, United States, May 2004, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit: 1990-92 : May : Apr : May : : : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- : : Dollars : : : : Field Crops : : : : Barley, All : Bu : 2.12 2.91 2.78 2.79 Feed : Bu : 1.90 2.33 2.16 2.29 Malting : Bu : 2.43 3.19 3.04 3.04 Beans, Dry Edible : Cwt: 19.10 19.10 19.60 21.80 Chickpeas, All 1/ : Cwt: 22.70 5/ Large 1/ : Cwt: 23.10 5/ Small 1/ : Cwt: 5/ 6/ Corn : Bu : 2.30 2.38 2.89 2.78 Cotton, Upland : Lb : 0.606 0.459 0.612 0.612 Cottonseed 4/ : Ton: 96.00 : : Flaxseed : Bu : 4.27 6.05 6.98 7.15 Hay, All, Baled 2/ : Ton: 76.30 98.00 89.60 101.00 Alfalfa 2/ : Ton: 77.20 100.00 92.70 109.00 Other 2/ : Ton: 60.00 88.40 76.00 74.90 Lentils 1/ : Cwt: 18.90 19.50 Oats : Bu : 1.22 1.95 1.62 1.64 Peanuts, In-Shell : Lb : 0.304 0.196 0.201 0.210 Peas, Dry Edible 1/ : Cwt: 9.06 9.08 Austrian Winter 1/ : Cwt: 6/ 6/ Potatoes : Cwt: 5.82 6.96 6.84 6.75 : : Rice, Rough : Cwt: 7.07 4.84 8.13 7.86 Sorghum Grain : Cwt: 3.75 3.95 5.09 4.60 Soybeans : Bu : 5.61 6.07 9.62 9.60 Sunflowers, All : Cwt: 9.50 12.20 13.50 13.90 Tobacco, Types 11-37 : Lb : 1.740 6/ 0.660 6/ : : Wheat, All : Bu : 2.96 3.33 3.89 3.73 Winter : Bu : 2.93 3.19 3.79 3.64 Durum : Bu : 2.86 3.99 4.22 4.19 Other Spring : Bu : 3.11 3.55 3.94 3.90 Hard Red Winter : Bu : 3.21 3.76 Soft Red Winter : Bu : 3.18 3.84 Hard Red Spring : Bu : 3.60 3.94 White : Bu : 3.24 3.13 3.91 : : Fruit : : : : Citrus, Equiv on-tree: : Grapefruit : Box: 5.77 6.16 1.81 3.87 Lemons : Box: 10.10 5.49 7.85 6.57 Oranges : Box: 5.79 4.43 3.62 3.62 Tangelos : Box: 5.82 Tangerines : Box: 15.11 12.74 10.73 15.24 Temples : Box: 6.23 : : Noncitrus, Fresh : : Apples 3/ : Lb : 0.212 0.218 0.299 0.294 Grapes 3/ : Ton: 506.00 950.00 6/ 2,030.00 Peaches 3/ : Lb : 0.216 0.433 0.455 Pears 3/ : Ton: 370.00 397.00 363.00 457.00 Strawberries : Cwt: 56.00 64.20 52.40 62.30 -------------------------------------------------------------------------------- 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, May 2004, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : May : Apr : May : : : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- : : Dollars : : : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 106.00 139.00 132.00 Broccoli : Cwt : 22.50 29.70 23.90 31.00 Cantaloupes 2/ : Cwt : 24.30 28.30 Carrots : Cwt : 13.20 19.90 24.20 24.90 Cauliflower : Cwt : 26.80 23.60 33.90 Celery : Cwt : 11.60 11.00 15.60 19.30 Corn, Sweet : Cwt : 15.70 16.60 19.80 20.60 Cucumbers 2/ : Cwt : 20.20 23.30 16.90 Lettuce : Cwt : 11.90 21.20 14.70 10.30 Onions : Cwt : 12.80 32.00 17.50 20.00 Snap Beans 2/ : Cwt : 45.30 48.60 40.40 Tomatoes : Cwt : 32.30 23.70 47.90 44.40 : : Livestock : : : : Calves : Cwt : 94.30 100.00 117.00 122.00 Cattle, All Beef : Cwt : 72.90 75.50 84.80 88.40 Cows 3/ : Cwt : 49.60 42.40 50.50 52.40 Steers & Heifers : Cwt : 77.10 79.60 88.90 92.60 Milk Cows 4/ : Head: 1,130.00 1,580.00 : : Hogs, All : Cwt : 47.70 41.30 47.40 57.80 Barrows & Gilts : Cwt : 48.40 41.80 47.70 58.50 Sows : Cwt : 39.50 29.00 40.50 43.10 : : Lambs : Cwt : 56.20 97.60 100.00 Sheep : Cwt : 23.40 31.30 37.10 : : Dairy and Poultry : : : : Milk, All 5/ 6/ : Cwt : 13.06 11.00 18.20 20.30 Fluid Grade 6/ : Cwt : 13.10 11.00 18.20 20.30 Mfg Grade 6/ : Cwt : 11.80 10.20 19.40 20.70 : : Broilers, Live 7/ : Lb : 0.317 0.340 0.480 0.500 Eggs, All 8/ : Doz : 0.643 0.587 0.768 0.645 Market 8/ : Doz : 0.546 0.397 0.614 0.468 Turkeys, live 7/ 8/: Lb : 0.380 0.349 0.387 0.404 : : Adjusted for Seasonal : : Variation : : Eggs, All : Doz : 0.545 0.588 0.732 0.626 Milk, All 5/ : Cwt : 9.71 11.83 18.96 20.71 -------------------------------------------------------------------------------- 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/ May 2004 Fat test percent: all milk 3.61, fluid milk 3.60, mfg grade 3.77. 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, April and May 2004 -------------------------------------------------------------------------------- : 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/ 3/ 3/ 3/ CA : 3.92 3/ 3.92 3/ 4/ 4/ CO : 3.79 3.51 3.79 3.51 3/ 4/ ID : 3.76 3.78 3.68 3.75 3.91 3.85 IL : 3.96 3.70 3.96 3.70 IN : 3.81 3.48 3.81 3.48 KS : 3.80 3.56 3.80 3.56 MI : 3.74 3.35 3.74 3.35 MN : 3.97 3.94 4/ 4/ 3.97 3.94 MO : 3.80 3.50 3.80 3.50 MT : 3.93 3.98 3.77 3.81 4.15 4.15 3.99 4.06 NE : 3.62 3.55 3.62 3.55 ND : 3.97 3.91 3.35 3.20 4.26 4.20 3.88 3.80 OH : 3.89 3.53 3.89 3.53 OK : 3.81 3.53 3.81 3.53 OR : 4.01 3.89 3.97 3.85 4.22 4.15 SD : 3.79 3.72 3.65 3.61 3.93 3.84 TX : 3.87 3.70 3.87 3.70 WA : 4.24 3.93 4.20 3.89 4.40 4.09 : US : 3.89 3.73 3.79 3.64 4.22 4.19 3.94 3.90 -------------------------------------------------------------------------------- 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 3.84 2.33 2.75 5.59 9.27 72.60 83.40 34.70 47.20 Apr : 3.37 3.89 2.34 2.89 5.82 9.62 74.50 84.80 34.80 47.40 May : 3.33 3.73 2.38 2.78 6.07 9.60 75.50 88.40 41.30 57.80 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, April and May 2004 -------------------------------------------------------------------------------- : 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 : 9.06 9.65 4/ 4/ CA : 4/ 5/ CO : 4/ 4/ 2.85 2.92 ID : 3.18 3.16 IL : 2.97 2.85 1.80 5/ 9.51 9.50 4/ 5.00 IN : 3.07 2.91 9.76 9.81 IA : 2.81 2.70 1.73 1.70 9.67 9.80 KS : 3.04 2.87 9.82 9.52 5.00 4.50 KY : 3.09 3.00 9.82 9.75 LA : 4/ 4/ MI : 2.92 2.76 2.07 2.13 9.57 9.62 MN : 4/ 4/ 2.75 2.68 1.61 1.58 9.66 9.55 MS : 9.74 9.68 MO : 3.01 2.80 9.56 9.40 4.92 4.60 MT : 2.84 2.84 4/ 5/ NE : 2.82 2.75 1.35 1.40 9.58 9.35 5.08 4.60 NC : 3.37 3.25 8.93 9.73 ND : 2.50 2.59 2.70 2.75 1.45 1.40 9.09 9.00 OH : 2.99 2.79 1.86 5/ 9.81 9.66 OK : 5.21 4.85 OR : 2.62 2.55 4/ 4/ PA : 3.46 3.43 2.11 2.15 SD : 1.70 5/ 2.87 2.80 1.57 1.58 9.54 9.64 TN : 3.01 2.95 9.79 9.80 TX : 4/ 4/ 5/ 5/ 5.35 5.05 UT : 2.72 2.67 WA : 2.57 2.52 WI : 2.80 2.70 1.75 1.60 9.32 9.60 WY : 2.11 2.15 : US : 2.78 2.79 2.89 2.78 1.62 1.64 9.62 9.60 5.09 4.60 -------------------------------------------------------------------------------- 1/ The Three-State (MN, ND and SD) Feed Barley price for May 2004 is $1.95. 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 2004 -------------------------------------------------------------------------------- : Malting Barley : Feed Barley State :-------------------------------------------------------------- : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : ID : 3.37 3.40 2.40 2.45 MN : 3/ 3/ 1.82 1.82 MT : 3.17 3.10 2.08 2.13 ND : 2.74 2.80 1.96 1.95 SD : 4/ 4/ 1.70 4/ WY : 4/ 4/ 2.11 2.15 -------------------------------------------------------------------------------- 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, April and May 2004 -------------------------------------------------------------------------------- : Dry Edible : All : : : : Beans : Sunflowers : Flaxseed : Tobacco : Peanuts 4/ State :--------------------------------------------------------------------- :Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 3/:Apr 1/:May 3/ -------------------------------------------------------------------------------- :------- Dollars per ------ Dollars per ------- Dollars per ------- :----------- Cwt ---------- Bushel ---------- Pound ---------- : AL : 5/ 5/ CA :34.80 36.50 CO :18.20 18.20 FL : 6/ 6/ 5/ 5/ GA : 6/ 6/ 5/ 5/ ID :19.30 19.60 IN : 6/ 6/ KS : 5/ 5/ KY : 6/ 6/ MD : 0.660 6/ MI :20.10 20.90 MN :19.10 20.50 14.90 5/ MO : NE :17.80 16.70 NC : 6/ 6/ 5/ 5/ ND :17.50 18.50 13.40 13.70 6.98 7.15 OH : 6/ 6/ OK : SC : 6/ 6/ SD : 13.00 13.50 6.22 6/ TN : 6/ 6/ TX : 5/ 5/ VA : 6/ 6/ 5/ 6/ WV : : US :19.60 21.80 13.50 13.90 6.98 7.15 0.660 6/ 0.201 0.210 -------------------------------------------------------------------------------- 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. Field Crops and Apples: Prices Received, by States, April and May 2004 -------------------------------------------------------------------------------- : : 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 : 0.615 0.615 AZ : 6/ 6/ 111.00 112.00 87.00 AR : 0.615 0.615 CA : 0.682 0.692 121.00 127.00 88.00 CO : 81.00 82.00 74.00 GA : 0.605 0.609 ID : 99.00 100.00 70.00 IL : 87.00 95.00 70.00 IA : 90.00 93.00 68.00 KS : 73.00 81.00 56.00 KY : 75.00 100.00 64.00 LA : 0.615 0.615 MI : 99.00 100.00 80.00 0.180 MN : 67.00 68.00 48.00 MS : 0.615 0.615 MO : 69.00 105.00 52.00 MT : 71.00 72.00 67.00 NE : 48.00 48.00 44.00 NV : 90.00 90.00 90.00 NM : 138.00 141.00 116.00 NY : 112.00 130.00 100.00 0.221 NC : 0.566 6/ ND : 56.00 61.00 45.00 OH : 101.00 115.00 54.00 0.310 OK : 84.00 97.00 59.00 OR : 96.00 97.00 93.00 PA : 137.00 150.00 119.00 0.202 SD : 63.00 64.00 51.00 TN : 0.618 0.615 TX : 0.598 0.597 77.00 135.00 63.00 UT : 90.00 90.00 75.00 VA : WA : 89.00 82.00 115.00 0.311 WI : 78.00 85.00 50.00 WY : 69.00 70.00 66.00 : US : 0.612 0.612 101.00 109.00 74.90 0.294 -------------------------------------------------------------------------------- 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, May 2004, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Mar 2004 1/ : Apr 2004 1/ : May 2004 2/ -------------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars per Pound : 0.594 0.612 0.612 Marketings 3/ : 1,000 Bales : 167 473 NA : : Rice : : Average Price : Dollars per Cwt : 8.01 8.13 7.86 Marketings 4/ : 1,000 Cwt : 14,046 11,891 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, May 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 : 17.70 11.19 11.19 8.87 8.87 CA : 19.80 11.70 13.29 -0.27 9.38 10.97 -2.59 FL : 15.30 4.04 7.55 2.63 1.57 5.29 0.08 White : 16.80 3.18 8.80 2.50 0.79 6.50 0.10 Colored : 15.00 4.73 7.30 2.80 2.19 5.05 0.05 TX : 17.80 3.29 7.81 1.20 2.15 6.64 0.08 : US : 18.10 5.94 10.62 1.99 3.87 8.53 -0.08 : Lemons : CA : 30.80 10.92 20.70 0.20 6.57 16.35 -4.15 : US : 30.80 10.92 20.70 0.20 6.57 16.35 -4.15 : Oranges : CA : 19.70 11.30 12.45 0.37 8.82 9.97 -2.10 Navel and Misc: 20.80 11.58 13.42 0.38 9.12 10.96 -2.08 Valencia : 18.50 10.97 11.44 0.32 8.48 8.95 -2.17 : FL : Valencia : 12.50 5.20 5.00 5.20 3.09 2.80 3.10 : TX : Valencia : 15.90 5.66 5.81 2.55 4.31 4.46 1.25 : US : 18.10 5.75 10.78 5.15 3.62 8.38 3.05 : Tangerines : CA : 5.20 -1.86 -1.86 -4.35 -4.35 FL : 35.00 23.01 25.50 5.60 19.49 22.10 1.20 : US : 29.10 18.58 20.06 5.60 15.24 16.84 1.20 -------------------------------------------------------------------------------- 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, April and May 2004 ------------------------------------------------------------------------------- : : :: : : State : Apr : May :: State : Apr : May : : :: : : ------------------------------------------------------------------------------- : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : 17.80 15.00 :: ND - All 1/ : 5.60 5.25 CA - All : 21.10 14.70 :: - Fresh 2/ : 4.00 NA - Winter : 24.10 :: - Processing : 5.70 NA - Spring : 15.00 :: OH : 6.95 - Summer : :: OR : 6.60 6.60 - Fall : 10.50 10.30 :: PA : 7.30 7.00 CO - All 1/ : 4.55 4.35 :: TX : 9.10 - Fresh 2/ : 4.20 NA :: VA : FL : 15.90 10.20 :: WA - All : 6.30 5.75 ID - All 1/ : 4.95 4.90 :: - Processing : 5.65 NA - Fresh 2/ : 3.70 NA :: WI - All 1/ : 6.10 5.45 - Processing : 4.40 NA :: - Fresh 2/ : 3.85 NA ME : 6.30 6.70 :: - Processing : 7.30 NA MI : 8.25 8.40 :: : MN : 5.15 5.05 :: US - All 1/ : 6.84 6.75 NY : 9.20 :: - Fresh 2/ : 8.42 NA : :: - Processing : 5.59 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 2004 -------------------------------------------------------------------------------- : 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 : 51.00 50.00 98.00 101.00 97.50 100.00 120.00 113.00 AR : 45.70 47.00 94.10 100.00 79.60 84.10 111.00 120.00 CA : 48.50 48.00 87.00 91.50 70.40 72.80 115.00 109.00 CO : 51.70 53.40 95.20 102.00 94.80 102.00 117.00 121.00 FL : 46.80 48.40 91.20 94.50 56.10 59.90 117.00 120.00 GA : 48.30 50.80 91.00 94.60 63.70 65.70 114.00 118.00 ID : 49.50 51.10 85.70 89.10 77.00 80.00 111.00 113.00 IL : 47.00 50.00 89.00 95.00 88.20 94.10 110.00 118.00 IA : 50.40 56.70 88.50 89.00 88.10 88.40 114.00 116.00 KS : 49.70 51.80 87.70 89.30 86.20 87.80 120.00 128.00 KY : 47.00 51.00 91.00 98.00 80.40 86.70 111.00 116.00 LA : 47.60 51.00 93.90 98.00 61.00 65.60 108.00 111.00 MI : 48.00 53.00 76.00 81.00 67.60 72.60 100.00 110.00 MN : 55.20 56.00 85.70 88.00 79.90 81.90 114.00 120.00 MO : 50.70 53.40 100.00 106.00 88.20 92.90 116.00 123.00 MT : 52.20 54.60 95.20 96.70 79.70 76.10 114.00 112.00 NE : 51.70 53.90 89.60 93.20 88.50 92.00 123.00 127.00 NM : 49.70 52.80 95.90 102.00 80.20 84.30 115.00 119.00 ND : 53.20 53.50 93.50 95.00 83.00 82.60 112.00 110.00 OH : 45.80 49.00 81.20 85.00 77.70 81.40 104.00 109.00 OK : 50.20 52.80 94.30 101.00 90.30 96.70 117.00 122.00 OR : 48.00 51.00 94.70 95.70 80.70 82.30 107.00 107.00 PA : 49.00 52.70 83.40 89.90 74.50 80.20 110.00 120.00 SD : 51.90 53.10 91.20 96.60 86.10 88.80 116.00 120.00 TN : 48.00 49.00 94.00 100.00 75.60 79.60 111.00 115.00 TX : 49.30 50.50 88.00 92.10 84.90 88.40 118.00 123.00 VA : 45.00 52.00 90.30 97.70 79.90 80.30 107.00 111.00 WI : 52.00 55.20 85.20 92.00 65.90 70.70 139.00 144.00 WY : 51.20 52.00 94.60 98.00 89.40 88.80 115.00 114.00 : US : 50.50 52.40 88.90 92.60 84.80 88.40 117.00 122.00 -------------------------------------------------------------------------------- 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, April and May 2004 -------------------------------------------------------------------------------- : Sows : Barrows and Gilts : All Hogs :----------------------------------------------------------------------- State : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Cwt : AR : 40.80 43.50 42.90 50.10 42.70 49.40 IL : 39.00 42.00 50.50 58.00 49.60 56.70 IN : 44.20 47.20 48.10 57.30 47.70 56.40 IA : 44.40 47.50 48.90 61.70 48.90 61.60 KS : 41.00 43.50 43.80 55.00 43.40 53.40 MI : 39.00 40.00 43.50 48.00 43.10 47.40 MN : 42.60 46.00 47.60 56.00 47.60 55.90 MO : 39.70 43.20 44.90 54.30 44.50 53.60 NE : 40.80 44.60 48.50 57.60 48.30 57.30 NC : 40.90 43.40 48.20 61.40 48.10 61.20 OH : 42.80 45.00 48.00 60.00 47.60 59.00 OK : 40.00 42.00 40.70 51.70 40.60 50.20 PA : 38.00 39.00 45.50 52.50 44.40 50.50 SD : 40.00 42.00 49.40 57.00 48.50 55.40 TX : 33.00 36.40 41.30 48.90 40.30 47.20 WI : 35.10 43.10 44.40 56.10 43.20 54.40 : US : 40.50 43.10 47.70 58.50 47.40 57.80 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by States, April and May 2004 -------------------------------------------------------------------------------- : April : May State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Eggs 2/ 3/ -------------------------------------------------------------------------------- : ------ Dollars per Cwt ------ Dollars per Dozen : AL : 0.480 AR : 0.430 CA : 35.00 91.00 0.510 CO : 37.30 101.00 CT : 0.560 FL : 0.520 GA : 0.487 ID : 38.00 99.00 IN : 0.480 IA : 38.20 95.80 0.387 KS : 37.00 96.00 ME : 0.650 MI : 0.450 MN : 32.20 97.90 0.470 MS : 0.430 MO : 0.380 MT : 34.80 107.00 NE : 32.70 109.00 NY : 0.540 NC : 0.430 ND : 35.00 96.00 OH : 33.20 113.00 0.444 OR : 37.00 94.50 PA : 0.530 SC : 0.440 SD : 36.80 106.00 TX : 43.50 104.00 0.400 UT : 34.00 103.00 WA : 0.753 WY : 36.60 110.00 : US : 37.10 100.00 0.468 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, April and May 2004 -------------------------------------------------------------------------------- : 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 : 17.30 3.51 17.30 3.51 19.80 3.50 CA : 17.50 3.64 20.50 3.90 17.53 3.64 19.00 3.60 FL : 17.70 3.57 17.70 3.57 23.70 3.52 ID : 18.80 3.56 20.40 3.83 18.80 3.56 19.50 3.52 IL : 18.90 3.65 19.80 3.57 18.90 3.65 21.20 3.60 IN : 18.20 3.66 19.20 3.75 18.30 3.66 20.70 3.61 IA : 18.50 3.63 18.90 3.74 18.50 3.63 21.00 3.57 KY : 16.70 3.58 16.70 3.58 22.20 3.51 MI : 18.00 3.60 18.00 3.67 18.00 3.60 20.60 3.54 MN : 20.20 3.74 19.20 3.78 20.20 3.74 21.70 3.69 MO : 17.30 3.58 17.70 3.68 17.30 3.58 20.50 3.57 NM : 16.60 3.53 16.60 3.53 19.40 3.50 NY : 17.50 3.66 17.50 3.66 20.00 3.60 OH : 18.00 3.66 17.60 3.82 18.00 3.67 20.50 3.61 PA : 18.00 3.70 20.40 3.80 18.00 3.70 20.80 3.65 TX : 17.70 3.64 17.70 3.64 20.00 3.61 VT : 17.50 3.66 17.50 3.66 20.20 3.63 VA : 17.30 3.55 17.30 3.55 20.70 3.53 WA : 17.50 3.63 17.50 3.63 19.50 3.60 WI : 20.40 3.75 19.50 3.89 20.40 3.76 21.50 3.69 : US : 18.20 3.65 19.40 3.83 18.20 3.65 20.30 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 January, April, July and October. Parity Price Equivalent for Manufacturing Milk 1/: United States, April and May 2004, with Comparisons -------------------------------------------------------------------------------- Item : Unit : May 2003 : Apr 2004 : May 2004 -------------------------------------------------------------------------------- Parity Equivalent : Dollars per Cwt : 30.20 31.64 31.82 Average Price F.O.B 2/ : Dollars per Cwt : 10.20 19.40 20.70 Average Fat Test of Milk 2/ : Percent : 3.75 3.83 3.77 -------------------------------------------------------------------------------- 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 May 2004. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for May 2004, 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 : : 2003 : 2004 : 2004 : 2003 : 2004 : 2004 -------------------------------------------------------------------------------- :---------- Dollars ---------- ---- Percent --- : Basic Commodities : All Wheat, Bu : 0.564 9.66 10.00 10.10 34 39 37 Rice, Cwt : 1.63 26.50 28.90 29.10 18 28 27 Corn, Bu : 0.379 6.60 6.73 6.78 36 43 41 Cotton, Lb : American Upland : 0.113 1.70 2.01 2.02 27 30 30 Extra Long Staple : 0.144 2.38 2.56 2.57 Peanuts, Lb : 0.0370 0.658 0.657 0.662 30 31 32 Tobacco, By Type, Lb : Flue-Cured 11-14 : 0.259 4.34 4.60 4.63 VA Fire-Cured, 21 : 0.257 4.40 4.56 4.60 KY-TN Fire-Cured, 22-23 : 0.322 5.43 5.72 5.76 Burley, 31 : 0.277 4.67 4.92 4.95 Maryland, 32 : 0.215 3.70 3.82 3.84 17 Dark Air-Cured, 35-36 : 0.282 4.68 5.01 5.04 Sun-Cured, 37 : 0.246 4.12 4.37 4.40 PA Seedleaf, 41 : 0.206 3.38 3.66 3.68 Cigar Filler & Binder, : 42-44, 54-55 : 0.225 3.75 4.00 4.02 Puerto Rican Filler, 46 : 0.162 2.77 2.88 2.90 Cigar Binder, 51-52 : 0.736 12.20 13.10 13.20 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt 2/ : 1.97 33.40 35.00 35.20 35 54 59 Honey, Extracted, Lb 3/ : 0.1050 1.59 1.86 1.88 : Wool and Mohair : Wool, Lb : 0.0880 1.54 1.56 1.57 Mohair, Lb : 0.334 5.52 5.93 5.97 : Other Nonbasic : Barley, Bu : 0.376 6.53 6.68 6.72 45 42 42 Cottonseed, Ton :15.80 265.00 281.00 283.00 Dry Edible Beans, Cwt : 2.92 50.40 51.90 52.20 38 38 42 Flaxseed, Bu : 0.728 11.90 12.90 13.00 51 54 55 Oats, Bu : 0.221 4.12 3.92 3.95 47 41 42 Potatoes, Cwt : 0.854 13.80 15.20 15.30 50 45 44 Rye, Bu : 0.353 5.82 6.27 6.31 Sorghum Grain, Cwt : 0.616 11.20 10.90 11.00 35 47 42 Soybeans Bu : 0.892 14.40 15.80 15.90 42 61 60 Sweetpotatoes, Cwt : 2.25 37.20 40.00 40.20 Apples, Fresh, Lb 4/ : 0.0296 0.487 0.526 0.529 45 57 56 Citrus (equiv on-tree), Box : Grapefruit : 0.387 6.58 6.87 6.92 94 26 56 Lemons : 1.10 18.70 19.50 19.70 29 40 33 Oranges : 0.618 9.67 11.00 11.00 46 33 33 Tangerines : 1.42 24.80 25.20 25.40 51 43 60 Temples (FL) : 0.451 7.86 8.01 8.06 Beef Cattle, Cwt : 9.55 161.00 170.00 171.00 47 50 52 Calves, Cwt :12.80 216.00 227.00 229.00 46 52 53 Hogs, Cwt : 5.91 102.00 105.00 106.00 40 45 55 Lambs, Cwt :11.30 185.00 201.00 202.00 53 50 Sheep, Cwt : 4.70 78.90 83.50 84.00 40 44 Eggs, Doz 2/ : 0.0949 1.58 1.69 1.70 37 43 37 Turkeys, Live, Lb : 0.0574 0.983 1.020 1.030 36 38 39 -------------------------------------------------------------------------------- --continued Parity Prices Based on Data for May 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 4.58 :: Processing 5/ : Spearmint Oil, Lb : 1.53 27.40 :: Excl Dried : Tobacco, Lb : :: Clingstone, : Type 61 : 2.51 44.90 :: CA, Ton : 32.80 586.00 : :: Pears, Ton : Noncitrus Fruit : :: Fresh 4/ : 51.60 923.00 Apples, Ton 6/ : :: Dried, CA 6/ : 166.00 2,970.00 Processing : 17.90 320.00 :: Plums, CA, Ton : Apricots, Ton : :: Fresh, Equiv : Fresh 7/ : 99.70 1,780.00 :: on-Tree : 57.40 1,030.00 Dried, CA :273.00 4,880.00 :: Prunes, Dried, : Avocados, Ton 7/ :238.00 4,260.00 :: CA, Ton 6/ : 129.00 2,310.00 Cherries Bbl : :: Prunes and Plums, : Sweet, Ton :184.00 3,290.00 :: Excl CA, Ton : Tart, Lb : 0.0267 0.477:: Fresh 9/ : 56.90 1,020.00 Cranberry, Bbl 5/ : 5.92 106.00 :: Processing 6/ : Dates, CA, Ton 7/ :170.00 3,040.00 :: Excl Dried : 26.30 470.00 Grapes, Ton : :: : Raisin Variety :121.00 2,160.00 :: Tree Nuts 10/ : Other Dried : 44.20 790.00 :: Almonds, Lb : 0.204 3.65 Kiwifruit, Ton : 80.80 1,440.00 :: Hazelnuts, Ton : 130.00 2,320.00 Nectarines : :: Pistachio, Lb : 0.159 2.84 Fresh, CA, : :: Walnuts, Ton : 176.00 3,150.00 Ton 7/ : 63.00 1,130.00 :: : Olives, CA : :: Vegetables, Cwt 11/ : canning, Ton 5/ : 95.50 1,710.00 :: Fresh : Papayas (HA) : 0.0520 0.930:: Carrots 8/ : 2.21 39.50 Peaches : :: Cauliflower 8/ : 4.55 81.40 Fresh, Lb 4/ : 0.0408 0.730:: Celery 8/ : 1.98 35.40 Dried, CA, : :: Honeydew Melons : 2.79 49.90 Ton : 92.50 1,650.00 :: Lettuce : 2.50 44.70 : :: Onions 8/ : 1.68 30.00 : :: Tomatoes : 4.39 78.50 ------------------------------------------------------------------------------- 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. Marketing Seasons for Specified Commodities Flue-cured tobacco: July 1 to November 30 for the U.S. and all states. Fire-cured tobacco: December 1 to March 31 for the U.S.; January 1 to March 31 for Kentucky and Tennessee; December1 to January 31 for Virginia. Light Air-cured Tobacco: November 1 to May 31 for the U.S.; November 1 to February 28 for Indiana, Kentucky, Missouri, North Carolina, Ohio, Tennessee, Virginia, and West Virginia; March 1 to May 31 for Maryland and Pennsylvania. Dark Air-cured Tobacco: December 1 to February 28 for the U.S. and all states. Tobacco, Types 11-61: Marketing Year Average Price, by State, 2002-2003 1/ ------------------------------------------------------------------------------- State : 2002 : 2003 :: State : 2002 : 2003 ------------------------------------------------------------------------------- : Dollars per Pound :: : Dollars per Pound : :: : CT 2/ : 5.450 3.500 :: OH : 1.963 1.954 FL : 1.879 1.851 :: PA : 1.379 1.367 GA : 1.845 1.855 :: SC : 1.774 1.830 IN : 1.944 1.949 :: TN : 2.066 2.107 KY : 2.015 2.027 :: VA : 1.876 1.868 MD : 1.480 1.730 :: WV : 1.967 1.978 MA 2/ : 5.250 3.700 :: WI : 1.750 1.746 MO : 1.900 1.940 :: CT & MA 3/: 22.500 NC : 1.821 1.856 :: : ------------------------------------------------------------------------------- 1/ 2002 and 2003 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 2003. Tobacco: Marketing Year Average Price, by Class, Type, State, and United States, 2002-2003 1/ -------------------------------------------------------------------------------- : : Class and State : Type : 2002 : 2003 : : -------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured: : : Old Belts : : NC : 11 : 1.829 1.857 VA : 11 : 1.854 1.849 US : 11 : 1.838 1.855 Eastern NC Belt : : NC : 12 : 1.815 1.856 NC Border & SC Belt : : NC : 13 : 1.803 1.840 SC : 13 : 1.774 1.830 US : 13 : 1.786 1.834 GA-FL Belt : : FL : 14 : 1.879 1.851 GA : 14 : 1.845 1.855 US : 14 : 1.851 1.854 Total Flue-cured : 11-14 : 1.820 1.851 : : Fire-cured: : : VA Belt : : VA : 21 : 1.884 1.641 Eastern District : : KY : 22 : 2.398 2.480 TN : 22 : 2.374 2.492 US : 22 : 2.382 2.488 Western District : : KY : 23 : 2.362 2.450 TN : 23 : 2.408 2.424 US : 23 : 2.368 2.447 KY-TN Fired-cured : 22-23 : 2.378 2.475 Total Fire-cured : 21-23 : 2.357 2.455 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.944 1.949 KY : 31 : 1.980 1.982 MO : 31 : 1.900 1.940 NC : 31 : 1.948 1.950 OH : 31 : 1.963 1.954 TN : 31 : 1.968 1.975 VA : 31 : 1.975 1.972 WV : 31 : 1.967 1.978 US : 31 : 1.974 1.977 Southern MD Belt : : MD : 32 : 1.480 1.730 PA : 32 : 1.250 1.300 US : 32 : 1.348 1.463 Total Light Air-cured : 31-32 : 1.965 1.970 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 2.135 2.223 TN : 35 : 2.029 2.016 US : 35 : 2.117 2.189 Green River Belt : : KY : 36 : 2.061 2.086 KY-TN Dark Air-cured : 35-36 : 2.101 2.157 -------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Tobacco: Marketing Year Average Price, by Class, Type, State, and United States, 2002-2003 1/ (continued) -------------------------------------------------------------------------------- : : Class and State : Type : 2002 : 2003 : : -------------------------------------------------------------------------------- : : Dollars per Pound : : VA Sun-cured Belt : : VA : 37 : 1.778 1.707 Total Dark Air-cured : 35-37 : 2.098 2.154 : : All Cures Other Than Cigar : 11-37 : 1.896 1.925 : : : : Cigar Filler: : : PA Seedleaf : : PA : 41 : 1.450 1.400 : : Cigar Binder: : : CT Valley Broadleaf : : CT : 51 : 5.450 3.500 MA : 51 : 5.250 3.700 US : 51 : 5.372 3.584 WI Binder, Southern : : WI : 54 : 1.750 1.750 WI Binder, Northern : : WI : 55 : 1.750 1.730 Total WI Binder : 54-55 : 1.750 1.746 Total Binder : 51-55 : 3.608 2.561 : : Cigar Wrapper: : : CT Valley Shade-grown : : CT 2/ : 61 : MA 2/ : 61 : US 2/ : 61 : 22.500 : : Total Cigar Types 3/ : 41-61 : 4.524 2.086 : : US All Tobacco 4/ : 11-61 : 1.936 1.961 -------------------------------------------------------------------------------- 1/ 2002 and 2003 revised. 2/ CT and MA Type 61 price for 2002 combined to avoid disclosure of individual operations. Price not available for 2003. 3/ The 2003 price excludes type 61. 4/ The 2003 price includes an estimate for CT and MA type 61. Used 2002 CT and MA type 61 price to compute the 2003 price. 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 4/ Northern Contract 2/ : 11-12: 1.870 1.780 1.805 1.850 1.835 4/ Southern Auction 3/ : 13-14: 1.865 1.745 1.790 1.780 4/ 4/ Southern Contract 3/ : 13-14: 1.780 1.855 1.890 1.885 4/ 4/ Total Flue-cured Area : 11-14: 1.850 1.795 1.810 1.850 1.815 4/ : : Fire-cured: : : VA Belt : : VA : 21 : 4/ 4/ 4/ 4/ 4/ 1.900 Eastern District : : KY : 22 : 4/ 4/ 4/ 4/ 4/ 4/ TN : 22 : 4/ 4/ 4/ 4/ 4/ 4/ US : 22 : 4/ 4/ 4/ 4/ 4/ 4/ Western District : : KY : 23 : 4/ 4/ 4/ 4/ 4/ 4/ TN : 23 : 4/ 4/ 4/ 4/ 4/ 4/ US : 23 : 4/ 4/ 4/ 4/ 4/ 4/ KY-TN Fire-cured : 22-23: 4/ 4/ 4/ 4/ 4/ 4/ Total Fire-cured : 21-23: 4/ 4/ 4/ 4/ 4/ 1.900 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 4/ 4/ 4/ 4/ 1.960 1.980 KY : 31 : 4/ 4/ 4/ 4/ 1.980 1.985 NC : 31 : 4/ 4/ 4/ 4/ 1.950 1.950 OH : 31 : 4/ 4/ 4/ 4/ 1.985 1.975 TN : 31 : 4/ 4/ 4/ 4/ 1.975 1.975 VA : 31 : 4/ 4/ 4/ 4/ 1.990 1.975 US : 31 : 4/ 4/ 4/ 4/ 1.980 1.980 Southern MD Belt : : MD : 32 : 4/ 4/ 4/ 4/ 4/ 4/ Total Light Air-cured : 31-32: 4/ 4/ 4/ 4/ 1.980 1.980 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 4/ 4/ 4/ 4/ 4/ 2.360 TN : 35 : 4/ 4/ 4/ 4/ 4/ 2.260 US : 35 : 4/ 4/ 4/ 4/ 4/ 2.345 Green River Belt : : KY : 36 : 4/ 4/ 4/ 4/ 4/ 2.135 KY-TN Dark Air-cured : 35-36: 4/ 4/ 4/ 4/ 4/ 2.290 VA Sun-cured Belt : : VA : 37 : 4/ 4/ 4/ 4/ 4/ 1.820 Total Dark Air-cured : 35-37: 4/ 4/ 4/ 4/ 4/ 2.285 : : Total All Cures : 11-37: 1.850 1.795 1.810 1.850 1.960 2.000 ------------------------------------------------------------------------------- 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 : 4/ 4/ 4/ 4/ Northern Contract 2/ : 11-12 : 4/ 4/ 4/ 4/ Southern Auction 3/ : 13-14 : 4/ 4/ 4/ 4/ Southern Contract 3/ : 13-14 : 4/ 4/ 4/ 4/ Total Flue-cured Area : 11-14 : 4/ 4/ 4/ 4/ : : Fire-cured: : : VA Belt : : VA : 21 : 1.830 4/ 4/ 4/ Eastern District : : KY : 22 : 2.455 2.425 1.900 4/ TN : 22 : 2.420 2.460 1.970 4/ US : 22 : 2.435 2.455 1.950 4/ Western District : : KY : 23 : 2.450 2.085 1.735 4/ TN : 23 : 2.545 2.190 1.800 4/ US : 23 : 2.465 2.100 1.740 4/ KY-TN Fire-cured : 22-23 : 2.445 2.410 1.910 4/ Total Fire-cured : 21-23 : 2.435 2.410 1.910 4/ : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.945 1.845 1.640 4/ KY : 31 : 1.985 1.940 1.760 4/ NC : 31 : 1.930 4/ 4/ 4/ OH : 31 : 1.970 1.840 4/ 4/ TN : 31 : 1.965 1.865 4/ 4/ VA : 31 : 1.955 1.780 4/ 4/ US : 31 : 1.980 1.920 1.750 4/ Southern MD Belt : : MD : 32 : 4/ 4/ 1.560 1.225 Total Light Air-cured : 31-32 : 1.980 1.920 1.625 1.225 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.780 1.525 4/ 4/ TN : 35 : 1.885 1.550 4/ 4/ US : 35 : 1.810 1.530 4/ 4/ Green River Belt : : KY : 36 : 2.015 1.495 4/ 4/ KY-TN Dark Air-cured : 35-36 : 1.870 1.520 4/ 4/ VA Sun-cured Belt : : VA : 37 : 1.465 4/ 4/ 4/ Total Dark Air-cured : 35-37 : 1.870 1.520 4/ 4/ : : Total All Cures : 11-37 : 2.090 2.070 1.805 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/ Insufficient sales to establish a price. Tobacco: Prices Received Monthly by Type, State and United States, July 2003 - April 2004 1/ ------------------------------------------------------------------------------- : : 2003 Cure, Area and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12: 1.840 1.775 1.870 1.895 1.815 4/ Northern Contract 2/ : 11-12: 1.885 1.810 1.880 1.900 4/ 4/ Southern Auction 3/ : 13-14: 1.750 1.785 1.880 1.845 4/ 4/ Southern Contract 3/ : 13-14: 1.705 1.840 1.910 1.880 4/ 4/ Total Flue-cured Area : 11-14: 1.790 1.805 1.880 1.890 1.815 4/ : : Fire-cured: : : VA Belt : : VA : 21 : 4/ 4/ 4/ 4/ 4/ 1.665 Eastern District : : KY : 22 : 4/ 4/ 4/ 4/ 4/ 4/ TN : 22 : 4/ 4/ 4/ 4/ 4/ 4/ US : 22 : 4/ 4/ 4/ 4/ 4/ 4/ Western District : : KY : 23 : 4/ 4/ 4/ 4/ 4/ 4/ TN : 23 : 4/ 4/ 4/ 4/ 4/ 4/ US : 23 : 4/ 4/ 4/ 4/ 4/ 4/ KY-TN Fire-cured : 22-23: 4/ 4/ 4/ 4/ 4/ 4/ Total Fire-cured : 21-23: 4/ 4/ 4/ 4/ 4/ 1.665 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 4/ 4/ 4/ 4/ 1.965 1.945 KY : 31 : 4/ 4/ 4/ 4/ 1.990 1.985 NC : 31 : 4/ 4/ 4/ 4/ 1.970 1.945 OH : 31 : 4/ 4/ 4/ 4/ 1.990 1.965 TN : 31 : 4/ 4/ 4/ 4/ 1.985 1.970 VA : 31 : 4/ 4/ 4/ 4/ 1.975 1.970 US : 31 : 4/ 4/ 4/ 4/ 1.985 1.980 Southern MD Belt : : MD : 32 : 4/ 4/ 4/ 4/ 4/ 4/ Total Light Air-cured : 31-32: 4/ 4/ 4/ 4/ 1.985 1.980 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 4/ 4/ 4/ 4/ 4/ 2.460 TN : 35 : 4/ 4/ 4/ 4/ 4/ 2.190 US : 35 : 4/ 4/ 4/ 4/ 4/ 2.430 Green River Belt : : KY : 36 : 4/ 4/ 4/ 4/ 4/ 2.300 KY-TN Dark Air-cured : 35-36: 4/ 4/ 4/ 4/ 4/ 2.405 VA Sun-cured Belt : : VA : 37 : 4/ 4/ 4/ 4/ 4/ 1.730 Total Dark Air-cured : 35-37: 4/ 4/ 4/ 4/ 4/ 2.395 : : Total All Cures : 11-37: 1.790 1.805 1.880 1.890 1.985 1.995 ------------------------------------------------------------------------------- See footnote(s) at end of table. --continued Tobacco: Prices Received Monthly by Type, State and United States, July 2003 - April 2004 1/ (continued) -------------------------------------------------------------------------------- : : 2004 Cure, Area and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : : Dollars per Pound : : Flue-cured Areas: : : Northern Auction 2/ : 11-12 : 4/ 4/ 4/ 4/ Northern Contract 2/ : 11-12 : 4/ 4/ 4/ 4/ Southern Auction 3/ : 13-14 : 4/ 4/ 4/ 4/ Southern Contract 3/ : 13-14 : 4/ 4/ 4/ 4/ Total Flue-cured Area : 11-14 : 4/ 4/ 4/ 4/ : : Fire-cured: : : VA Belt : : VA : 21 : 1.140 4/ 4/ 4/ Eastern District : : KY : 22 : 2.490 2.530 2.285 4/ TN : 22 : 2.540 2.530 2.260 4/ US : 22 : 2.515 2.530 2.265 4/ Western District : : KY : 23 : 2.480 2.340 4/ 4/ TN : 23 : 2.425 2.325 4/ 4/ US : 23 : 2.470 2.340 4/ 4/ KY-TN Fire-cured : 22-23 : 2.495 2.500 2.265 4/ Total Fire-cured : 21-23 : 2.495 2.500 2.265 4/ : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.945 1.910 4/ 4/ KY : 31 : 1.980 1.955 4/ 4/ NC : 31 : 1.925 4/ 4/ 4/ OH : 31 : 1.920 1.840 4/ 4/ TN : 31 : 1.970 1.940 4/ 4/ VA : 31 : 1.965 4/ 4/ 4/ US : 31 : 1.970 1.950 4/ 4/ Southern MD Belt : : MD : 32 : 4/ 4/ 1.775 0.660 Total Light Air-cured : 31-32 : 1.970 1.950 1.775 0.660 : : Dark Air-cured : : One-Sucker Belt : : KY : 35 : 1.875 1.665 4/ 4/ TN : 35 : 1.865 2.135 4/ 4/ US : 35 : 1.870 1.840 4/ 4/ Green River Belt : : KY : 36 : 2.045 1.310 4/ 4/ KY-TN Dark Air-cured : 35-36 : 1.945 1.675 4/ 4/ VA Sun-cured Belt : : VA : 37 : 0.870 4/ 4/ 4/ Total Dark Air-cured : 35-37 : 1.945 1.675 4/ 4/ : : Total All Cures : 11-37 : 2.095 2.175 2.105 0.660 -------------------------------------------------------------------------------- 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/ Insufficient sales to establish a price. 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 2/ 2/ 2/ 2/ 2/ 2/ 2/ GA : 1.775 1.845 1.885 1.885 2/ 2/ 2/ 2/ 2/ 2/ IN : 2/ 2/ 2/ 2/ 1.960 1.980 1.945 1.845 1.640 2/ KY : 2/ 2/ 2/ 2/ 1.980 2.010 2.085 1.985 1.805 2/ MD : 2/ 2/ 2/ 2/ 2/ 2/ 2/ 2/ 1.560 1.225 NC : 1.875 1.780 1.810 1.850 1.850 1.950 1.930 2/ 2/ 2/ OH : 2/ 2/ 2/ 2/ 1.985 1.975 1.970 1.840 2/ 2/ SC : 1.845 1.750 1.770 1.750 2/ 2/ 2/ 2/ 2/ 2/ TN : 2/ 2/ 2/ 2/ 1.975 1.980 2.170 2.290 1.965 2/ VA : 1.915 1.860 1.790 1.895 1.925 1.960 1.925 1.780 2/ 2/ : US : 1.850 1.795 1.810 1.850 1.960 2.000 2.090 2.070 1.805 1.225 -------------------------------------------------------------------------------- 1/ Revised. 2/ Insufficient sales to establish a price. Tobacco, Types 11-37: Prices Received Monthly, by State and United States, July 2003 - April 2004 1/ -------------------------------------------------------------------------------- : 2003 : 2004 State :--------------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr -------------------------------------------------------------------------------- : Dollars per Pound : FL : 1.705 1.865 1.895 2/ 2/ 2/ 2/ 2/ 2/ 2/ GA : 1.705 1.835 1.910 1.880 2/ 2/ 2/ 2/ 2/ 2/ IN : 2/ 2/ 2/ 2/ 1.965 1.945 1.945 1.910 2/ 2/ KY : 2/ 2/ 2/ 2/ 1.990 2.010 2.080 2.050 2.285 2/ MD : 2/ 2/ 2/ 2/ 2/ 2/ 2/ 2/ 1.775 0.660 NC : 1.855 1.795 1.885 1.900 1.930 1.945 1.925 2/ 2/ 2/ OH : 2/ 2/ 2/ 2/ 1.990 1.965 1.920 1.840 2/ 2/ SC : 1.765 1.790 1.875 1.830 2/ 2/ 2/ 2/ 2/ 2/ TN : 2/ 2/ 2/ 2/ 1.985 1.975 2.210 2.410 2.260 2/ VA : 1.935 1.845 1.830 1.885 1.960 1.930 1.950 2/ 2/ 2/ : US : 1.790 1.805 1.880 1.890 1.985 1.995 2.095 2.175 2.105 0.660 -------------------------------------------------------------------------------- 1/ Revised. 2/ Insufficient sales to establish a price. 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 134 (1990-92=100), 0.8 percent higher than April 2004 and 5.5 percent above May 2003. PRODUCTION INDEX: The May index, at 132, is up 0.8 percent from last month and 7.3 percent above last year. Higher prices in May for complete feeds, feeder cattle, hay and forages, and gasoline more than offset lower prices for feed concentrates, feed grains, feeder pigs, and nitrogen fertilizers. Feed: The May index, at 133, is 1.5 percent more than April and 15 percent above last May. Since April, higher prices for complete feeds, hay and forages, and feed supplements more than offset lower prices for feed concentrates and feed grains. Livestock & Poultry: The May index for livestock and poultry purchases, at 126, is 4.1 percent higher than last month and 24 percent above last year. Since April, higher prices for feeder cattle more than offset lower prices for feeder pigs. The May feeder cattle price, at $107.10 per cwt, is up $6.10 from the April price. May feeder pigs averaged $112.00 per cwt, down $4.00 from April. Fertilizer: The May index, at 137, is unchanged from April but 7.9 percent above May a year ago. Since April, slightly lower prices for nitrogen fertilizers and potash and phosphate materials offset slightly higher prices for mixed fertilizers. Agricultural Chemicals: The May index, at 120, is down 0.8 percent from last month and 0.8 percent below last May. The Agricultural Chemical subcomponent index prices declined slightly. Fuels: The May index, at 157, is up 4.0 percent from a month earlier and 23 percent above May 2003. Compared to last month, prices are higher for gasoline, diesel fuel, and LP gas. Farm Machinery: The May index is 163, up 1.2 percent from April and 9.4 percent above last May. Since April, prices are higher for other machinery and self-propelled machinery. CONSUMER PRICE INDEX: The April 2004 Consumer Price Index for all urban consumers (CPI-U) rose 0.3 percent before seasonal adjustment to a level of 188.0 (1982-84=100). This compares to the March index of 187.4. For the 12-month period ending in April, the overall index has increased 2.3 percent. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, May 2004 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2003 : 2004 : 2003 : 2004 Ratios :---------------------------------------------- : May : Apr : May : May : Apr : May : Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1,696 1,776 1,788 127 133 134 Production : 1,196 *1,270 1,284 123 131 132 Feed : 566 *639 649 116 131 133 Livestock & Poultry : 1,304 *1,548 1,615 102 121 126 Seeds : 1,553 1,564 1,564 157 158 158 Fertilizer : 465 502 501 127 137 137 Agricultural Chemicals : 746 745 745 121 121 120 Fuels : 988 1,168 1,213 128 151 157 Farm Supplies & Repairs : 947 *966 966 133 *136 136 Autos & Trucks : 3,047 *3,042 3,037 115 114 114 Farm Machinery : 3,750 4,040 4,093 149 161 163 Building Materials : 1,671 *1,788 1,821 123 *132 134 Farm Services & Rent : 1,446 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 : 5,919 *5,957 5,957 158 *159 159 Production, Interest, Taxes, : & Wage Rates (PITW) : 1,686 *1,773 1,788 125 132 133 Family Living-CPI 3/ : 1,743 *1,786 1,786 136 139 139 : : :---------------------------------------------- Ratio (Received\Paid) : 83 *94 99 Parity Ratio 4/ : 39 *45 47 Parity Ratio Adjusted 5/ : 43 *47 49 PPITW Adjusted for : Productivity 6/ : 1173 *1210 1212 : : :---------------------------------------------- Crop Sector (PPITW) : 131 135 135 Livestock Sector (PPITW) : 124 132 133 : : :---------------------------------------------- Farm Sector (Production) : 117 132 135 Non-Farm Sector (Production) : 126 *131 131 -------------------------------------------------------------------------------- * 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, May 2004 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 1/ : 2003 : 2004 :----------------------------------------------------- : 2003 : 2004 : May : Apr : May -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 66.7 66.2 123 131 132 : Feed : 11.0 10.7 116 131 133 Feed Grains : 1.6 1.5 104 *124 119 Complete Feeds : 5.4 5.2 113 130 139 Hay/Forages : 1.4 1.3 129 115 127 Concentrates : 1.7 1.7 119 149 126 Supplements : 0.9 0.9 130 138 141 Livestock & Poultry : 7.2 7.4 102 121 126 Feeder Cattle : 5.6 5.8 99 119 126 Feeder Pigs : 0.6 0.6 109 *126 122 Milk Cow Replacements : 0.6 0.6 115 140 140 Poultry : 0.4 0.4 112 112 112 Seeds : 3.2 3.3 157 158 158 Field Crops : 2.9 3.0 162 163 163 Grasses/Legumes : 0.3 0.3 109 111 111 Fertilizer : 4.5 4.4 127 137 137 Mixed Fertilizer : 2.0 1.9 113 122 123 Nitrogen : 1.9 1.8 146 157 156 Potash & Phosphate : 0.6 0.6 112 123 123 Agricultural Chemicals : 3.8 3.7 121 121 120 Herbicides : 2.4 2.4 112 113 113 Insecticides : 0.9 0.9 147 143 143 Fungicides/Other : 0.5 0.5 115 116 116 Fuels : 2.7 2.7 128 151 157 Diesel : 1.5 1.5 121 149 154 Gasoline : 0.8 0.8 131 152 163 LP Gas : 0.4 0.4 150 158 159 Farm Supplies & Repairs : 5.5 5.4 133 *136 136 Supplies : 1.8 1.8 124 126 126 Repairs : 3.6 3.6 138 *141 141 Autos & Trucks : 1.8 1.8 115 114 114 Autos : 0.2 0.2 108 108 107 Trucks : 1.5 1.6 116 115 115 Farm Machinery : 4.0 4.0 149 161 163 Tractors : 0.9 0.9 141 146 146 Self-Propelled : 1.6 1.6 149 167 167 Other Machinery : 1.5 1.5 155 164 169 Building Materials : 3.1 3.3 123 *132 134 Farm Services : 12.4 12.4 122 123 123 Custom Rates : 1.3 1.3 125 125 125 Other Services : 11.1 11.1 122 *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 7.6 158 *159 159 Family Living-CPI : 18.2 18.5 136 139 139 -------------------------------------------------------------------------------- * Revised. 1/ Weights may not add due to rounding. Feed Price Ratios: United States, May 2004 with Comparisons -------------------------------------------------------------------------------- : 2003 : 2004 Feed Price Ratio 1/ :----------------------------- : May : Apr : May -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed : equal in value to 1 pound of broiler, live weight : 5.1 *4.9 5.2 : Market Egg Feed: Pounds of Laying Feed equal in : Value to 1 dozen eggs : 6.9 *7.8 6.1 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 17.4 *16.4 20.8 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.19 *3.13 3.36 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 33.4 *30.8 33.3 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 5.7 4.6 4.9 -------------------------------------------------------------------------------- * 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 2004 with Comparisons -------------------------------------------------------------------------------- : : 2003 : 2004 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.340 0.480 0.500 Eggs, Market : Doz : 0.397 0.614 0.468 : : Hogs, All : Cwt : 41.30 *47.40 57.80 Milk, All : Cwt : 11.00 *18.20 20.30 : : Steers and Heifers : Cwt : 79.60 *88.90 92.60 Turkeys, Live : Lb : 0.349 0.387 0.404 : : Corn : Bu : 2.38 *2.89 2.78 Hay, Alfalfa, Baled : Ton : 100.00 92.70 109.00 : : Soybeans : Bu : 6.07 *9.62 9.60 Wheat, All : Bu : 3.33 *3.89 3.73 -------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States May 2004 with Comparisons -------------------------------------------------------------------------------- : : 2003 : 2004 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 84.00 101.00 107.10 Feeder Pigs : Cwt : 100.00 *116.00 112.00 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios, Monthly, United States, January 2001 - May 2004 1/ -------------------------------------------------------------------------------- : : : : : : : : : : : : : Year: Jan : Feb : Mar :Apr : May : Jun : Jul :Aug : Sep : Oct : Nov : Dec : Avg : : : : : : : : : : : : : 2/ -------------------------------------------------------------------------------- : Broiler-Feed Ratio 3/ : 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 4.4 4.6 4.5 4.5 4.7 5.3 2003: 5.6 5.4 5.2 4.8 5.1 5.4 5.7 5.8 5.7 5.4 5.1 5.1 5.4 2004: 5.6 5.5 5.0 4.9 5.2 : : Market Egg-Feed Ratios 4/ : 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 8.0 7.1 6.6 10.5 8.9 8.5 2003: 9.0 8.0 9.5 9.3 6.9 8.8 9.8 12.8 11.6 12.6 15.7 12.1 10.5 2004:12.9 10.7 13.3 7.8 6.1 : : Turkey-Feed Ratio 5/ : 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 5.9 5.7 5.7 5.8 5.6 5.9 6.2 6.2 5.6 5.8 2004: 5.1 4.6 4.5 4.6 4.9 : : Milk-Feed Ratio 6/ : 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 2.55 2.36 2.20 2.30 2.46 2.44 2.44 2.60 2003:2.40 2.35 2.27 2.25 2.19 2.23 2.58 2.88 3.11 3.24 3.05 2.81 2.61 2004:2.71 2.61 2.80 3.13 3.36 : : Hog-Corn Ratio 7/ : 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 13.8 10.7 13.2 12.2 13.1 15.9 2003:14.2 14.7 14.9 14.9 17.4 19.2 19.7 18.4 18.0 17.4 15.8 14.7 16.6 2004:15.4 16.3 17.2 16.4 20.8 : : Steer & Heifer-Corn Feed Ratio 8/ : 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 28.2 27.4 29.3 31.5 32.3 33.2 2003:33.4 33.4 32.9 33.7 33.4 33.6 36.3 38.8 40.6 46.1 45.5 41.3 37.4 2004:35.7 31.5 32.0 30.8 33.3 -------------------------------------------------------------------------------- 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 Joe Prusacki Chief, Crops Branch . . . . . . . . . . . . . . .(202) 720-2127 Greg Thessen, Field Crops Section. . . . . . . . . . . . . . .(202) 720-2127 Lance Honig - Wheat, Rye . . . . . . . . . . . . . . . . . .(202) 720-8068 Darin Jantzi - Corn, Proso Millet, Flaxseed. . . . . . . . .(202) 720-9526 Troy Joshua - Cotton, Cottonseed, Hay, Oats, Sorghum . . . . . . (202) 720-5944 Jason Lamprecht - Soybeans, Sunflower, Other Oilseeds. . . . . . (202) 720-7369 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 June 29, 2004. 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