Pr 1 (5-06) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released May 31, 2006, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" see page 36, office hours 7:30 a.m. to 4:00 p.m. ET. May Farm Prices Received Index Increased 1 Point From Last Month The preliminary All Farm Products Index of Prices Received by Farmers in May, at 114, based on 1990-92=100, increased 1 point (0.9 percent) from April. The Crop Index is up 3 points (2.4 percent) but the Livestock Index decreased 1 point (1.0 percent). Producers received higher prices for lettuce, hogs, onions, and grapefruit. Lower prices were received for cattle, asparagus, tomatoes, and eggs. The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased average marketings of grapes, sweet corn, cantaloup, and broilers offset decreased marketings of cattle, milk, calves, and apples. Preliminary All Farm Products Index is down 5 points (4.2 percent) from May 2005. The Food Commodities Index, at 115, increased 1 point (0.9 percent) from last month but decreased 7 points (5.7 percent) from May 2005. Prices Paid Index Unchanged The preliminary May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 146 percent of the 1990-92 average. The index is unchanged from April but 6 points (4.3 percent) above May 2005. Lower prices in May for feeder cattle, nitrogen fertilizers, feeder pigs, and LP gas offset higher prices for diesel fuel, gasoline, hay & forages, and feed grains. Index Summary Table -------------------------------------------------------------------------------- : 2005 : 2006 Index :-------------------------------------------------------------- 1990-92=100 : Apr : May : Apr : May -------------------------------------------------------------------------------- : Prices Received : 121 119 113 114 : Prices Paid : 140 140 146 146 : Ratio 1/ : 86 85 77 78 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid by farmers. Prices Received by Farmers The May All Farm Products Index is 114 percent of its 1990-92 base, up 0.9 percent from the April index but 4.2 percent below the May 2005 index. ALL CROPS: The May index is 126, up 2.4 percent from April and 8.6 percent above May 2005. From April, index increases for food grains, potatoes & dry beans, and feed grains & hay more than offset the index decreases for commercial vegetables and cotton. Food Grains: The May index, at 132, is 5.6 percent above the previous month and 21 percent above a year ago. The May all wheat price, at $4.07 per bushel, is up 26 cents from April and 76 cents from May 2005. Feed Grains & Hay: The May index is 107, up 4.9 percent from last month and 8.1 percent above a year ago. The corn price, at $2.17 per bushel, is up 6 cents from last month and 19 cents above May 2005. The all hay price, at $114.00 per ton, is up $8.00 from April and $7.00 from last May. Grain sorghum, at $3.84 per cwt, is 14 cents above April and 79 cents above May last year. Oil-Bearing Crops: The May index, at 100, is up 1.0 percent from April but 9.9 percent lower than May 2005. The soybean price, at $5.62 per bushel, increased 10 cents from April but is 59 cents below May 2005. Cotton: The May index, at 78, is down 2.5 percent from April but 20 percent above last year. The May price, at 47.2 cents per pound, is down 1.4 cents from the previous month but 7.6 cents above last May. Potatoes & Dry Beans: The May index, at 140, is up 5.3 percent from last month and 23 percent above May 2005. The all potato price, at $8.29 per cwt, is up 32 cents from April and up $2.06 from last May. The all dry bean price, at $22.80 per cwt, is up $3.80 from the previous month but $8.30 below May 2005. Fruits & Nuts: The May index, at 140, is up 2.9 percent from April and 18 percent higher than a year ago. Price increases for grapefruit and oranges more than offset price decreases for apples and lemons. Commercial Vegetables: The May index, at 153, is down 5.6 percent from last month but 14 percent above May 2005. Price decreases during May for asparagus, tomatoes, sweet corn, and broccoli more than offset price increases for lettuce and onions. LIVESTOCK & PRODUCTS: The May index, at 104, is 1.0 percent below last month and down 14 percent from May 2005. Compared with a year ago, prices are lower for milk, cattle, broilers, hogs, calves, and eggs but higher for turkeys. Meat Animals: The May index, at 111, is unchanged from last month but 11 percent lower than last year. The May hog price, at $47.20 per cwt, is up $5.90 from April but $7.70 lower than a year ago. The May beef cattle price of $81.80 per cwt is down $3.00 from last month and $10.30 lower than May 2005. Dairy Products: The May index, at 92, is down 1.1 percent from a month ago and 19 percent lower than May last year. The May all milk price of $12.00 per cwt is down 10 cents from last month and $2.70 from May 2005. The fluid grade milk price is down 20 cents and the manufacturing grade milk price decreased 10 cents from the previous month. Poultry & Eggs: The May index, at 101, is down 1.0 percent from April and 17 percent below a year ago. May market egg prices, at 23.1 cents per dozen, decreased 8.7 cents from April and 1.2 cents below May 2005. This is the lowest monthly market egg price in 25 years. The May broiler price, at 34.0 cents per pound, is unchanged from April but 10.0 cents below a year ago. The May turkey price, averaging 43.7 cents per pound, is up 0.8 cent from the previous month and up 3.0 cents from a year earlier. Table of Contents U.S. Prices Received and IndexesPage 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 Steers and Heifers . . . . . 20 Citrus Fruit . . . . . . . . . 18 Corn . . . . . . . . . . . . . 15 Monthly State Prices, continuedPage Cotton, Upland . . . . . . . . 17 Cottonseed . . . . . . . . . . 17 Eggs . . . . . . . . . . . . 22 Flaxseed . . . . . . . . . . . 16 Grain Sorghum . . . . . . . . 15 Hay . . . . . . . . . . . . . 17 Hogs, All . . . . . . . . . . 21 Barrows and Gilts . . . . . 21 Sows . . . . . . . . . . . . 21 Milk . . . . . . . . . . . . . 23 Milk Cows . . . . . . . . . 23 Oats . . . . . . . . . . . . . 15 Peanuts . . . . . . . . . . . 16 Potatoes . . . . . . . . . . . 19 Sheep . . . . . . . . . . . . 22 Lambs . . . . . . . . . . . 22 Soybeans . . . . . . . . . . . 15 Sunflower, All . . . . . . . . 16 Wheat, All Classes . . . . . . 14 Prices Received Special FeaturesPage Marketing Year for Specified Commodities 26 Marketing Year Average Prices Tobacco, All and By Type see May Crop Production: 2006 http:/usda.mannlib.cornell.edu/reports/nassr/field/pcp-bb/2006/ Table of Contents (continued) U.S. Prices Paid, Prices Paid Indexes and RatiosPage Narrative . . . . . . . 27 Indexes and Parity Ratios 28 Charts . . . . . . . . 30 Feed Ratios . . . . . . 33 Reliability Statement . . 35 U.S. Average Prices Prices Used to Calculate Feed Price Ratios 33 Feeder Livestock . . . 33 Special Features Feed: Price Ratios, January 2003 - May 2006 34 Information Contacts . 36 Index Numbers of Prices Received, United States, May 2006, with Comparisons -------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2005 : 2006 : 2005 : 2006 :Average :--------------------------------------------- :1990-92 : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- : All Farm Products : 639 756 *716 723 119 *113 114 : All Crops : 500 572 *607 622 116 *123 126 Food Grains : 325 347 *398 421 109 *125 132 Feed Grains & Hay : 363 353 363 382 99 *102 107 Cotton : 517 335 *411 399 65 *80 78 Tobacco 1/ : 1,263 Oil-Bearing Crops : 554 610 *541 550 111 *99 100 Fruits & Nuts : 716 833 *948 979 119 *136 140 Commercial Vegetables : 698 894 *1,081 1,020 134 *162 153 Potatoes & Dry Beans : 540 616 *671 707 122 *133 140 Other Crops : 493 578 586 586 117 119 119 : Livestock & Products : 768 931 *803 795 121 *105 104 Meat Animals : 1,021 1,274 *1,133 1,125 125 111 111 Dairy Products : 799 903 744 737 113 93 92 Poultry & Eggs : 282 344 273 270 122 102 101 : Food Commodities : 122 *114 115 -------------------------------------------------------------------------------- * Revised. 1/ Monthly prices discontinued July 2005. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Month, United States, 2005 and 2006 -------------------------------------------------------------------------------- : Index of Prices Received : Index of Prices Paid :---------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :---------------------------------------------------------------- :2005 :2006 :2005 : 2006 : 2005 :2006 : 2005 :2006 : 2005 : 2006 -------------------------------------------------------------------------------- Jan : 111 113 102 108 121 118 137 146 134 145 Feb : 114 114 107 114 119 114 137 146 134 144 Mar : 119 114 116 118 121 110 139 146 136 144 Apr : 121 113 120 123 122 105 140 146 138 146 May : 119 114 116 126 121 104 140 146 138 146 Jun : 119 120 117 141 140 Jul : 117 116 117 141 140 Aug : 116 115 117 141 141 Sep : 116 111 122 143 142 Oct : 111 103 122 145 145 Nov : 113 105 121 143 143 Dec : 115 110 120 144 143 -------------------------------------------------------------------------------- Prices Received, United States, May 2006, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit: 1990-92 : May : Apr : May : : : 2005 : 2006 : 2006 -------------------------------------------------------------------------------- : : Dollars : : : : Field Crops : : : : Barley, All : Bu : 2.12 2.46 2.67 2.70 Feed : Bu : 1.90 1.71 1.83 1.78 Malting : Bu : 2.43 2.90 2.91 3.06 Beans, Dry Edible : Cwt: 19.10 31.10 19.00 22.80 Chickpeas, All : Cwt: 17.20 22.50 21.10 Large : Cwt: 19.10 29.20 27.20 Small : Cwt: 4/ 4/ 4/ Corn : Bu : 2.30 1.98 2.11 2.17 Cotton, Upland : Lb : 0.606 0.396 0.486 0.472 Cottonseed 3/ : Ton: 96.00 : : Flaxseed : Bu : 4.27 11.60 5.56 5.50 Hay, All, Baled 1/ : Ton: 76.30 107.00 106.00 114.00 Alfalfa 1/ : Ton: 77.20 116.00 110.00 118.00 Other 1/ : Ton: 60.00 75.40 93.20 96.80 Lentils : Cwt: 12.30 9.60 9.45 Oats : Bu : 1.22 1.64 1.75 1.76 Peanuts, In-Shell : Lb : 0.304 0.178 0.174 0.169 Peas, Dry Edible : Cwt: 5.18 4.85 4.72 Austrian Winter : Cwt: 9.83 6.42 4/ Potatoes : Cwt: 5.82 6.23 7.97 8.29 : : Rice, Rough : Cwt: 7.07 6.98 8.19 7.99 Sorghum Grain : Cwt: 3.75 3.05 3.70 3.84 Soybeans : Bu : 5.61 6.21 5.52 5.62 Sunflower, All : Cwt: 9.50 15.40 11.90 11.50 Tobacco, Types 11-37 6/: Lb : 1.740 5/ : : Wheat, All : Bu : 2.96 3.31 3.81 4.07 Winter : Bu : 2.93 3.23 3.76 4.10 Durum : Bu : 2.86 3.67 3.40 3.54 Other Spring : Bu : 3.11 3.37 3.94 4.10 Hard Red Winter : Bu : 3.17 3.99 Soft Red Winter : Bu : 3.09 3.29 Hard Red Spring : Bu : 3.37 3.99 White : Bu : 3.24 3.50 3.15 : : Fruit : : : : Citrus, Equiv on-tree : : Grapefruit : Box: 5.77 12.28 8.32 11.96 Lemons : Box: 10.10 5.46 12.31 10.75 Oranges : Box: 5.79 5.11 6.27 6.81 Tangelos 5/ : Box: 5.82 Tangerines : Box: 15.11 16.21 8.19 6.23 Temples 5/ : Box: 6.23 : : Noncitrus, Fresh : : Apples 2/ : Lb : 0.212 0.174 0.247 0.238 Grapes 2/ 5/ : Ton: 506.00 1,080.00 Peaches 2/ 5/ : Ton: 432.00 756.00 Pears 2/ : Ton: 370.00 498.00 413.00 470.00 Strawberries : Cwt: 56.00 54.90 60.10 60.40 -------------------------------------------------------------------------------- 1/ Mid-month price. 2/ Equivalent packinghouse-door returns for CA, MI, and NY (apples only), and WA (apples, peaches, and pears). Prices as sold for other states. 3/ Marketing year August - February. 4/ Price not published to avoid disclosure of individual firms. 5/ Insufficient sales to establish a price. 6/ Monthly price estimates discontinued beginning in July 2005. Prices Received, United States, May 2006, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : May : Apr : May : : : 2005 : 2006 : 2006 -------------------------------------------------------------------------------- : : Dollars : : : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 77.30 204.00 111.00 Broccoli : Cwt : 22.50 22.40 32.40 24.30 Cantaloupes 2/ : Cwt : 20.20 Carrots : Cwt : 13.20 21.20 21.50 20.00 Cauliflower : Cwt : 26.80 29.70 44.40 23.00 Celery : Cwt : 11.60 15.50 16.60 13.60 Corn, Sweet : Cwt : 15.70 18.10 27.20 16.10 Cucumbers 2/ : Cwt : 27.90 28.70 25.60 Lettuce : Cwt : 11.90 13.90 22.30 37.30 Onions : Cwt : 12.80 19.70 9.81 16.40 Snap Beans 2/ : Cwt : 55.00 44.90 30.80 Tomatoes : Cwt : 32.30 49.40 46.90 29.50 : : Livestock : : : : Calves : Cwt : 94.30 143.00 135.00 132.00 Cattle, All Beef : Cwt : 72.90 92.10 84.80 81.80 Cows 3/ : Cwt : 49.60 58.30 48.50 48.00 Steers & Heifers : Cwt : 77.10 96.10 89.30 85.80 Milk Cows 4/ : Head: 1,130.00 1,770.00 : : Hogs, All : Cwt : 47.70 54.90 41.30 47.20 Barrows & Gilts : Cwt : 48.40 55.50 41.80 47.90 Sows : Cwt : 39.50 42.60 28.80 29.40 : : Lambs : Cwt : 56.20 114.00 86.80 Sheep : Cwt : 23.40 43.70 34.90 : : Dairy and Poultry : : : : Milk, All 5/ 6/ : Cwt : 13.06 14.70 12.10 12.00 Fluid Grade 6/ : Cwt : 13.10 14.70 12.20 12.00 Mfg Grade 6/ : Cwt : 11.80 14.00 11.30 11.20 : : Broilers, Live 7/ : Lb : 0.317 0.440 0.340 0.340 Eggs, All 8/ : Doz : 0.643 0.456 0.512 0.439 Market 8/ : Doz : 0.546 0.243 0.318 0.231 Turkeys, live 7/ 8/: Lb : 0.380 0.407 0.429 0.437 : : Adjusted for Seasonal : : Variation : : Eggs, All : Doz : 0.545 0.551 0.512 0.516 Milk, All 5/ : Cwt : 9.71 15.51 12.10 12.12 -------------------------------------------------------------------------------- 1/ Beginning January 2006, point of first sale. F.O.B. shipping point for prior years. 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 2006 Fat test percent: all milk 3.63, fluid milk 3.62, 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 State, April and May 2006 -------------------------------------------------------------------------------- : 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 : 4/ 4/ 4/ 4/ CA : 4.04 3/ 4.04 3/ 3/ 4/ CO : 4.09 4.43 4.06 4.43 3/ 4/ ID : 3.46 3.65 3.20 3.40 3/ 3/ 3.83 4.00 IL : 3.41 3.60 3.41 3.60 IN : 2.97 3.43 2.97 3.43 KS : 4.13 4.48 4.13 4.48 MI : 3.23 3.50 3.23 3.50 MN : 3.99 4.25 3/ 3/ 3.99 4.26 MO : 3.33 3.65 3.33 3.65 MT : 3.79 4.05 3.79 4.19 3.43 3.64 3.89 4.03 NE : 4.01 4.25 4.01 4.25 ND : 3.76 3.97 3.36 3/ 3.38 3.45 3.90 4.10 OH : 3.15 3.54 3.15 3.54 OK : 4.12 4.49 4.12 4.49 OR : 3.42 3.47 3.38 3.40 3.71 3.90 SD : 3.98 4.26 3.83 4.20 4.11 4.31 TX : 4.14 4.59 4.14 4.59 WA : 3.27 3.44 3.18 3.38 3.66 3.67 : US : 3.81 4.07 3.76 4.10 3.40 3.54 3.94 4.10 -------------------------------------------------------------------------------- 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 Month, United States, 2005 and 2006 1/ -------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 2/ : All Hogs Month :----------------------------------------------------------------------- : 2005 : 2006 : 2005 : 2006 : 2005 : 2006 : 2005 : 2006 : 2005 : 2006 -------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ------- Dollars per ------- : ----------- Cwt ----------- : Jan : 3.43 3.52 2.12 2.00 5.57 5.88 89.10 95.10 53.00 40.70 Feb : 3.36 3.66 1.95 2.02 5.42 5.67 88.80 92.40 50.70 42.60 Mar : 3.42 3.79 2.02 2.06 5.95 5.57 91.00 88.10 51.20 42.80 Apr : 3.35 3.81 2.00 2.11 6.03 5.52 93.70 84.80 51.10 41.30 May : 3.31 4.07 1.98 2.17 6.21 5.62 92.10 81.80 54.90 47.20 Jun : 3.23 2.03 6.58 88.00 49.50 Jul : 3.20 2.11 6.65 85.00 49.80 Aug : 3.24 1.95 6.15 84.40 51.00 Sep : 3.35 1.90 5.77 88.00 49.40 Oct : 3.43 1.82 5.67 90.40 47.00 Nov : 3.47 1.77 5.62 90.80 43.50 Dec : 3.54 1.92 5.77 93.30 44.30 -------------------------------------------------------------------------------- 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 2006 -------------------------------------------------------------------------------- :All Barley 1/: Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/ :May 3/ -------------------------------------------------------------------------------- :----------------- Dollars per Bushel ----------------- Dollars per Cwt : AL : AR : 5.72 5.80 4/ 4/ CA : 4/ 5/ 5/ 5/ CO : 4/ 4/ 2.26 2.38 ID : 3.00 3.09 IL : 2.20 2.30 4/ 1.50 5.64 5.80 4.01 4.10 IN : 2.18 2.30 5.68 5.77 IA : 2.04 2.10 1.79 1.75 5.47 5.55 KS : 2.17 2.27 1.55 1.53 5.23 5.36 3.48 3.76 KY : 2.36 2.50 5.63 5.85 LA : 5.54 5.80 MI : 2.04 2.20 2.01 1.90 5.64 5.80 MN : 4/ 2.14 1.90 1.99 1.55 1.61 5.34 5.50 MS : 5.71 5.80 MO : 2.22 2.35 5.57 5.75 3.83 4.25 MT : 2.99 3.29 4/ 5/ NE : 2.00 2.05 1.88 1.80 5.34 5.50 3.59 3.65 NY : 1.81 1.80 NC : 2.56 2.70 5.69 5.92 ND : 2.18 2.09 1.90 1.95 1.62 1.55 5.09 5.25 OH : 2.17 2.35 5/ 5/ 5.63 5.83 OK : 3.59 4.01 OR : 2.24 2.20 4/ 4/ PA : 2.51 2.55 2.18 2.09 SD : 4/ 4/ 1.89 1.95 1.77 1.76 5.26 5.34 TN : 2.41 2.55 5.63 5.85 TX : 2.59 2.75 4/ 4/ 4.46 4.62 UT : 2.29 4/ WA : 2.21 1.93 WI : 2.02 2.10 1.69 1.75 5.42 5.45 WY : 1.68 1.68 : US : 2.67 2.70 2.11 2.17 1.75 1.76 5.52 5.62 3.70 3.84 -------------------------------------------------------------------------------- 1/ The Three-State (MN, ND and SD) Feed Barley price is discontinued. 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 State, April and May 2006 -------------------------------------------------------------------------------- : Malting Barley : Feed Barley State :-------------------------------------------------------------- : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : ID : 3.13 3.20 2.06 2.10 MN : 3/ 2.18 1.30 1.30 MT : 3.30 3.70 1.68 1.54 ND : 2.42 2.42 1.68 1.60 SD : 3/ 3/ 4/ 4/ WY : 4/ 4/ 1.68 1.68 -------------------------------------------------------------------------------- 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 State, April and May 2006 -------------------------------------------------------------------------------- : Dry Edible : All : : : Beans : Sunflower : Flaxseed : Peanuts 4/ State :--------------------------------------------------------------- :Apr 1/ :May 2/ :Apr 1/ :May 2/ :Apr 1/ :May 2/ :Apr 1/ :May 3/ -------------------------------------------------------------------------------- : -------- Dollars per -------- Dollars per Dollars per : ------------ Cwt ------------ --- Bushel -- ---- Pound --- : AL : 0.165 0.166 CA : 42.40 43.60 CO : 18.20 18.00 FL : 0.165 0.165 GA : 0.168 0.165 ID : 18.70 18.80 IN : KS : 11.90 12.20 KY : MD : MI : 21.90 21.00 MN : 14.90 5/ 17.80 5/ MO : NE : 17.10 17.00 NC : 0.216 0.177 ND : 14.40 13.70 11.80 11.70 5.56 5.50 OH : OK : SC : SD : 11.00 10.20 6/ 6/ TN : TX : 0.176 0.175 VA : 5/ 5/ WV : : US : 19.00 22.80 11.90 11.50 5.56 5.50 0.174 0.169 -------------------------------------------------------------------------------- 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 State, April and May 2006 -------------------------------------------------------------------------------- : : 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 : 0.495 0.463 AZ : 6/ 7/ 135.00 135.00 130.00 AR : 0.463 0.461 CA : 0.624 6/ 130.00 133.00 109.00 CO : 102.00 102.00 98.00 GA : 0.478 0.463 ID : 110.00 110.00 97.00 IL : 98.00 102.00 77.00 IA : 82.00 83.00 59.00 KS : 91.00 95.00 54.00 KY : 88.00 115.00 70.00 LA : 0.464 0.458 MI : 99.00 100.00 80.00 0.205 MN : 66.00 68.00 45.00 MS : 0.464 0.463 MO : 69.00 111.00 56.00 MT : 71.00 71.00 73.00 NE : 59.00 60.00 52.00 NV : 122.00 123.00 114.00 NM : 143.00 145.00 120.00 NY : 123.00 145.00 110.00 0.244 NC : 0.474 0.463 ND : 45.00 49.00 36.00 OH : 127.00 146.00 68.00 0.255 OK : 104.00 115.00 85.00 OR : 115.00 121.00 107.00 PA : 154.00 178.00 140.00 0.210 SD : 67.00 69.00 55.00 TN : 0.467 0.463 TX : 0.462 0.454 120.00 150.00 104.00 UT : 98.00 98.00 77.00 VA : WA : 117.00 115.00 125.00 0.239 WI : 92.00 100.00 70.00 WY : 76.00 77.00 73.00 : US : 0.486 0.472 114.00 118.00 96.80 0.238 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Based on sales during the first half of the month. 3/ Mid-month. 4/ Equivalent packinghouse-door returns for CA, MI, NY, and WA. Price at point of first sale for other States. 5/ Marketing year August - February. 6/ Price not published to avoid disclosure of individual firms. 7/ Insufficient sales to establish a price. Upland Cotton and Rice: Prices Received and Marketings, United States, May 2006, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Mar 2006 1/ : Apr 2006 1/ : May 2006 2/ -------------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars per Pound : 0.504 0.486 0.472 Marketings 3/ : 1,000 Bales : 1,169 516 NA : : Rice : : Average Price : Dollars per Cwt : 8.10 8.19 7.99 Marketings 4/ : 1,000 Cwt : 18,335 13,026 NA -------------------------------------------------------------------------------- 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Marketings based on a survey of cotton buyers in the major producing States - AL, AZ, AR, CA, GA, LA, MS, NC, TN, and TX. 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 2006 -------------------------------------------------------------------------------- : : 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 : 21.60 14.83 14.83 12.41 12.41 CA : 27.10 17.80 20.33 -0.29 15.38 17.91 -2.71 FL : 22.50 8.18 14.36 2.91 5.49 11.96 -0.01 White : 17.90 3.98 9.40 2.50 1.42 7.00 -0.10 Colored : 23.20 9.81 15.10 3.20 7.08 12.70 0.05 TX : 25.70 10.49 15.31 4.00 9.30 14.10 2.84 : US : 26.20 14.14 18.54 2.52 11.96 16.34 0.36 : Lemons : CA : 38.50 15.27 27.99 -0.40 10.75 23.47 -4.92 : US : 38.50 15.27 27.99 -0.40 10.75 23.47 -4.92 : Oranges : AZ : Valencia : 18.00 10.66 10.66 8.07 8.07 : CA : 21.10 9.22 13.56 0.36 6.65 10.99 -2.20 Navel and Misc: 21.60 8.52 13.92 0.37 5.96 11.36 -2.19 Valencia : 20.10 11.51 12.76 0.28 8.92 10.17 -2.31 : FL : Valencia : 18.00 9.11 9.40 9.10 6.86 7.00 6.85 : TX : Valencia : 19.00 8.50 8.50 7.10 7.10 : US : 20.70 9.14 12.93 8.29 6.81 10.39 6.01 : Tangerines : CA : 26.90 17.15 19.56 0.28 14.56 16.97 -2.31 FL : 22.50 9.30 12.20 6.00 5.82 9.00 2.20 : US : 22.80 9.67 12.75 5.93 6.23 9.60 2.14 -------------------------------------------------------------------------------- 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 State, April and May 2006 1/ ------------------------------------------------------------------------------- : : :: : : State : Apr : May :: State : Apr : May : : :: : : ------------------------------------------------------------------------------- : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: NC : AZ : 21.40 21.00 :: ND - All 2/ : 7.80 8.55 CA - All 2/ : 15.70 17.90 :: - Fresh 3/ : 12.00 NA - Winter : 24.50 :: - Processing : 6.05 NA - Spring : 19.50 :: OH 4/ : - Summer : :: OR : 6.50 6.80 - Fall : 8.20 8.20 :: PA 4/ : CO - All 2/ : 8.70 8.55 :: TX : 14.50 - Fresh 3/ : 9.35 NA :: VA : FL : 13.80 12.90 :: WA - All 2/ : 6.40 5.95 ID - All 2/ : 6.65 6.40 :: - Processing : 5.50 NA - Fresh 3/ : 6.80 NA :: WI - All 2/ : 9.35 8.80 - Processing : 5.20 NA :: - Fresh 3/ : 8.30 NA ME : 9.40 9.00 :: - Processing : 9.40 NA MI : 9.95 9.95 :: : MN : 6.00 5.70 :: US - All 2/ : 7.97 8.29 NY : 12.70 :: - Fresh 3/ : 10.62 NA : :: - Processing : 6.09 NA ------------------------------------------------------------------------------- 1/ Missing data indicates no potatoes being marketed. 2/ Average price of potatoes sold for all uses, including table stocks, processing, seed, and livestock feed. 3/ Fresh market prices only, includes table stock prices. 4/ Estimates discontinued in 2005. Cattle: Prices Received, by State, April and May 2006 -------------------------------------------------------------------------------- : 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 : 44.40 44.10 103.00 106.00 86.60 88.70 126.00 126.00 AR : 45.00 45.20 105.00 105.00 87.00 87.10 125.00 124.00 CA : 47.00 46.50 85.20 84.50 66.50 65.90 125.00 118.00 CO : 49.70 48.40 102.00 100.00 101.00 99.50 130.00 119.00 FL : 49.20 47.60 100.00 99.00 74.10 74.10 123.00 122.00 GA : 50.80 50.70 94.20 95.00 66.40 65.80 123.00 123.00 ID : 46.20 45.40 87.50 82.50 77.60 73.60 127.00 124.00 IL : 46.00 45.00 83.00 81.00 82.30 80.30 123.00 124.00 IA : 49.50 52.00 86.80 84.00 86.40 83.40 130.00 130.00 KS : 48.60 49.00 85.50 82.30 84.00 81.00 135.00 133.00 KY : 48.00 48.00 100.00 100.00 87.50 87.50 126.00 123.00 LA : 47.30 45.00 101.00 102.00 62.90 62.70 121.00 120.00 MI : 51.00 50.00 80.00 79.00 71.30 70.30 140.00 138.00 MN : 52.00 51.00 81.70 78.50 75.80 73.00 135.00 130.00 MO : 49.10 48.50 108.00 109.00 93.90 93.90 132.00 129.00 MT : 49.50 49.90 111.00 97.10 86.40 66.40 131.00 129.00 NE : 48.20 48.20 90.40 85.00 89.10 83.90 134.00 128.00 NM : 48.90 44.70 100.00 99.00 82.60 80.50 130.00 124.00 ND : 51.20 53.00 99.20 102.00 90.10 80.90 125.00 123.00 OH : 47.30 48.00 87.00 86.00 83.00 82.20 124.00 120.00 OK : 48.80 48.30 97.40 100.00 93.50 95.90 129.00 128.00 OR : 44.00 43.00 102.00 102.00 84.60 84.30 125.00 122.00 PA : 50.10 49.80 81.20 79.90 73.10 72.10 138.00 139.00 SD : 50.10 48.40 94.40 90.00 88.60 82.50 127.00 127.00 TN : 48.00 47.00 100.00 102.00 79.20 80.00 123.00 119.00 TX : 44.60 44.40 90.90 86.50 87.20 82.70 139.00 135.00 VA : 44.40 43.40 87.40 89.00 77.50 74.40 119.00 114.00 WI : 49.60 49.40 82.00 82.00 63.20 63.10 167.00 164.00 WY : 48.90 48.00 103.00 102.00 94.30 91.20 134.00 132.00 : US : 48.50 48.00 89.30 85.80 84.80 81.80 135.00 132.00 -------------------------------------------------------------------------------- 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 State, April and May 2006 -------------------------------------------------------------------------------- : Sows : Barrows and Gilts : All Hogs :----------------------------------------------------------------------- State : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ -------------------------------------------------------------------------------- : Dollars per Cwt : AR : 29.60 30.00 38.70 45.10 37.80 43.60 IL : 27.00 27.50 43.00 49.00 41.70 47.30 IN : 33.30 33.80 40.90 47.00 40.40 46.10 IA : 29.50 30.00 43.20 49.00 43.10 48.80 KS : 29.50 29.80 39.60 46.50 38.30 44.30 MN : 28.60 29.30 41.40 49.00 41.30 48.90 MO : 27.10 27.90 38.30 43.40 37.50 42.50 NE : 30.50 31.00 43.00 48.00 42.80 47.70 NC : 29.60 29.70 41.90 47.90 41.80 47.70 OH : 30.40 30.80 41.10 46.50 40.20 45.20 OK : 27.30 28.00 37.00 43.30 35.50 41.00 PA : 28.30 28.70 39.80 45.40 38.10 42.90 SD : 27.70 28.10 42.50 49.50 41.00 47.10 : US : 28.80 29.40 41.80 47.90 41.30 47.20 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by State, April and May 2006 -------------------------------------------------------------------------------- : April : May State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Eggs 2/ 3/ -------------------------------------------------------------------------------- : ------ Dollars per Cwt ------ Dollars per Dozen : AL : 0.240 AR : 0.220 CA : 37.50 73.50 0.350 CO : 38.00 97.00 CT : 0.330 FL : 0.270 GA : 0.230 ID : 38.00 75.00 IN : 0.200 IA : 36.50 79.00 0.180 KY : 36.00 93.00 ME : 0.390 MI : 0.220 MN : 29.00 77.20 0.250 MS : 0.240 MO : 33.10 95.00 0.160 MT : 26.00 84.70 NE : 34.00 91.40 NY : 0.230 NC : 0.210 ND : 37.00 90.00 OH : 35.40 95.00 0.270 OR : 40.00 85.00 PA : 42.00 115.00 0.200 SC : 0.220 SD : 27.10 90.00 TX : 38.90 87.60 0.200 VA : 38.00 115.00 WA : 0.320 WV : 38.00 116.00 WY : 29.80 78.50 : US : 34.90 86.80 0.231 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Market (table) eggs. Milk and Milk Cows: Prices Received, by State, April and May 2006 -------------------------------------------------------------------------------- : 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 : 11.80 3.52 11.80 3.52 11.60 3.53 CA : 11.10 3.67 11.60 4.09 11.12 3.68 11.10 3.62 CO : 12.00 3.55 12.00 3.55 11.70 3.50 FL : 15.40 3.60 15.40 3.60 15.10 3.58 ID : 11.10 3.65 10.60 3.87 11.10 3.65 11.00 3.60 IL : 13.30 3.78 12.70 3.61 13.30 3.78 13.00 3.80 IN : 12.30 3.70 11.00 3.76 12.20 3.70 12.00 3.68 IA : 13.10 3.71 11.80 3.90 13.10 3.71 13.00 3.65 KS : 11.60 3.62 11.60 3.62 11.20 3.61 KY : 13.00 3.62 13.00 3.62 12.70 3.57 MI : 12.40 3.63 10.90 3.69 12.40 3.63 12.20 3.55 MN : 12.10 3.71 10.10 3.79 12.00 3.71 12.10 3.68 MO : 13.20 3.61 11.00 3.73 13.10 3.61 12.00 3.56 NM : 11.10 3.57 11.10 3.57 11.50 3.50 NY : 12.50 3.71 12.50 3.71 12.20 3.65 OH : 13.00 3.69 11.70 3.89 12.90 3.70 12.40 3.61 OR : 14.20 3.70 14.20 3.70 14.10 3.64 PA : 13.80 3.70 10.80 3.75 13.80 3.70 13.40 3.65 TX : 12.10 3.70 12.10 3.70 12.10 3.66 VT : 12.90 3.75 12.90 3.75 12.60 3.72 VA : 14.00 3.55 14.00 3.55 13.50 3.50 WA : 11.90 3.70 11.90 3.70 11.70 3.64 WI : 12.50 3.72 11.40 3.88 12.50 3.73 12.30 3.67 : US : 12.20 3.67 11.30 3.93 12.10 3.68 12.00 3.63 -------------------------------------------------------------------------------- 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 Grade Milk 1/: United States, April and May 2006, with Comparisons -------------------------------------------------------------------------------- Item : Unit : May 2005 : Apr 2006 : May 2006 -------------------------------------------------------------------------------- Parity Equivalent : Dollars per Cwt : 33.45 35.23 35.14 Average Price F.O.B 2/ : Dollars per Cwt : 14.00 11.30 11.20 Average Fat Test of Milk 2/ : Percent : 3.78 3.93 3.89 -------------------------------------------------------------------------------- 1/ The parity price equivalent during 2006 is 91.5 percent of the parity price of all milk sold to plants, compared with 91.4 percent in 2005. For additional details, see January 2006 issue of "Agricultural Prices". 2/ Preliminary for May 2006. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for May 2006, with Comparisons 1/ -------------------------------------------------------------------------------- : : Parity Price : Price as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :----------------------------------------- : Price : May : Apr : May : May : Apr : May : : 2005 : 2006 : 2006 : 2005 : 2006 : 2006 -------------------------------------------------------------------------------- : ---------- Dollars --------- ---- Percent ---- : Basic Commodities : All Wheat, Bu : 0.535 10.10 10.50 10.40 33 36 39 Rice, Cwt : 1.45 29.10 28.30 28.30 24 29 28 Corn, Bu : 0.398 6.78 7.78 7.76 29 27 28 Cotton, Lb : American Upland : 0.117 2.02 2.29 2.28 20 21 21 Extra Long Staple : 0.138 2.57 2.70 2.69 Peanuts, Lb : 0.035 0.662 0.684 0.683 27 25 25 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt 2/ : 1.97 35.20 38.50 38.40 42 31 31 Honey, Extracted, Lb 3/ : 0.121 1.88 2.28 2.28 : Wool and Mohair : Wool, Lb : 0.083 1.57 1.62 1.62 Mohair, Lb : 0.339 5.97 6.62 6.61 : Other Nonbasic : Barley, Bu : 0.372 6.72 7.27 7.25 34 37 37 Canola, Cwt : 1.38 29.20 27.00 26.90 Cottonseed, Ton : 15.40 283.00 301.00 300.00 40 33 33 Dry Edible Beans, Cwt : 2.81 52.50 54.90 54.80 55 35 42 Flaxseed, Bu : 0.795 13.00 15.50 15.50 95 36 35 Mustard Seed, Cwt : 1.96 39.40 38.30 38.20 Oats, Bu : 0.221 3.95 4.32 4.31 42 41 41 Potatoes, Cwt : 0.823 15.30 16.10 16.00 41 50 52 Rapeseed, Cwt : 1.61 32.30 31.50 31.40 Rye, Bu : 0.355 6.31 6.94 6.92 Safflower, Cwt : 1.86 38.40 36.30 36.30 Sorghum Grain, Cwt : 0.617 11.00 12.10 12.00 27 31 32 Soybeans, Bu : 0.880 15.90 17.20 17.20 38 32 33 All Sunflower, Cwt : 1.68 31.20 32.70 32.70 49 36 35 Sweetpotatoes, Cwt : 2.33 40.20 45.50 45.40 Apples, Fresh, Lb 4/ : 0.027 0.529 0.528 0.527 25 42 41 Citrus (equiv on-tree), Box : Grapefruit : 0.541 6.92 10.60 10.50 154 78 114 Lemons : 1.16 19.70 22.70 22.60 62 54 48 Oranges : 0.591 11.00 11.50 11.50 44 55 59 Tangerines : 1.390 25.40 27.20 27.10 64 30 23 Temples (FL) : 0.394 8.06 7.70 7.68 Beef Cattle, Cwt : 9.87 179.00 193.00 192.00 52 44 43 Calves, Cwt : 13.70 243.00 268.00 267.00 58 50 49 Hogs, Cwt : 5.99 111.00 117.00 117.00 49 35 40 Lambs, Cwt : 11.90 217.00 233.00 232.00 53 37 Sheep, Cwt : 4.89 87.70 95.60 95.40 50 37 Eggs, Doz 2/ : 0.091 1.75 1.78 1.77 31 29 29 Turkeys, Live, Lb : 0.056 1.050 1.090 1.090 39 39 40 -------------------------------------------------------------------------------- --continued Parity Prices Based on Data for May 2006, United States 1/ (continued) ------------------------------------------------------------------------------- Other Nonbasic : Adj :Parity :: Other Nonbasic : Adj :Parity Commodities : Base : Price :: Commodities : Base : Price : Base : :: : Base : ------------------------------------------------------------------------------- :Dollars Dollars:: :Dollars Dollars : :: : Field Crops and : :: Noncitrus Fruit, : Misc Commodities : :: Continued : Hops, Lb : 0.247 4.82 :: Olives, CA : Spearmint Oil, Lb : 1.44 28.10 :: canning, Ton 5/ : 92.30 1,800.00 Tobacco, Lb : :: Papayas (HA) : 0.051 0.995 Flue-Cured, 11-14 : 0.247 4.82 :: Peaches : VA Fire-Cured, 21 : 0.258 5.03 :: Fresh, Ton 4/ : 83.09 1,620.00 KY-TN Fire-Cured, : :: Dried, CA, : 22-23 : 0.323 6.30 :: Ton : 77.00 1,500.00 Burley, 31 : 0.266 5.19 :: Processing 5/ : Maryland, 32 : 0.202 3.94 :: Excl Dried : Dark Air-Cured, : :: Clingstone, : 35-36 : 0.285 5.56 :: CA, Ton : 33.40 651.00 Sun-Cured, 37 : 0.237 4.62 :: Pears, Ton : PA Seedleaf, 41 : 0.201 3.92 :: Fresh 4/ : 54.50 1,060.00 Cigar Filler & : :: Dried, CA 6/ : 171.00 3,330.00 Binder, : :: Plums, CA, Ton : 42-44, 54-55 : 0.222 4.33 :: Fresh, Equiv : Puerto Rican : :: on-Tree : 60.10 1,170.00 Filler, 46 : 0.159 3.10 :: Prunes, Dried, : Cigar Binder, : :: CA, Ton 6/ : 132.00 2,570.00 51-52 : 0.760 14.80 :: Prunes and Plums, : Type 61 : 3.21 62.60 :: Excl CA, Ton : : :: Fresh 9/ : 62.40 1,220.00 Noncitrus Fruit : :: Processing 6/ : Apples, Ton 6/ : :: Excl Dried : 28.80 562.00 Processing : 17.60 343.00 :: : Apricots, Ton : :: Tree Nuts 10/ : Fresh 7/ :101.00 1,970.00 :: Almonds, Lb : 0.221 4.31 Dried, CA :270.00 5,270.00 :: Hazelnuts, Ton : 150.00 2,930.00 Avocados, Ton 7/ :233.00 4,540.00 :: Pistachio, Lb : 0.168 3.28 Cherries : :: Walnuts, Ton : 173.00 3,370.00 Sweet, Ton :195.00 3,800.00 :: : Tart, Lb : 0.034 0.663:: Vegetables, Cwt 11/ : Cranberry, Bbl 5/ : 5.35 104.00 :: Fresh : Dates, CA, Ton 7/ :214.00 4,170.00 :: Carrots 8/ : 2.30 44.90 Grapes, Ton : :: Cauliflower 8/ : 4.44 86.60 Raisin Variety :121.00 2,360.00 :: Celery 8/ : 1.91 37.20 Other Dried : 70.80 1,380.00 :: Honeydew Melons : 2.64 51.50 Kiwifruit, Ton : 89.20 1,740.00 :: Lettuce : 2.36 46.00 Nectarines : :: Onions 8/ : 1.65 32.20 Fresh, CA, Ton 7/: 61.20 1,190.00 :: Tomatoes : 4.61 89.90 ------------------------------------------------------------------------------- 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 about 2000 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 Field 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 preliminary May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 146 (1990-92=100), is unchanged from April 2006 but up 4.3 percent from May 2005. PRODUCTION INDEX: The May index, at 146, is unchanged from last month but is 5.8 percent above last year. Lower prices in May for feeder cattle, nitrogen fertilizers, feeder pigs, and LP gas offset higher prices for diesel fuel, gasoline, hay & forages, and feed grains. Feed: The May index, at 124, increased 0.8 percent from April and increased 5.1 percent from last May. Since April, higher prices for hay & forages and feed grains are partially offset by lower prices for complete feeds, feed supplements, and feed concentrates. Livestock & Poultry: The May index for livestock and poultry purchases, at 128, decreased 3.8 percent from last month and decreased 8.6 percent from last year. Since April, prices are lower for feeder cattle and feeder pigs. The May feeder cattle price, at $106.60 per cwt, is down $4.10 per cwt from the April price. May feeder pigs averaged $127.00 per cwt, down $11.00 per cwt from April. Fertilizer: The May index, at 179, is down 0.6 percent from April but 12 percent above May a year ago. Since April, lower prices for nitrogen fertilizers and potash & phosphate materials more than offset higher prices for mixed fertilizers. Agricultural Chemicals: The May index, at 126, is unchanged from April but 4.1 percent above last May. Fuels: The May index, at 255, is up 4.5 percent from a month earlier and 25 percent above May 2005. Compared with last month, prices are higher for diesel fuel and gasoline but lower for LP gas. Farm Machinery: The May index, at 180, is unchanged from April but 5.3 percent above last May. Since April, prices are slightly lower for other machinery. CONSUMER PRICE INDEX: The April 2006 Consumer Price Index for all urban consumers (CPI-U) increased 0.9 percent before seasonal adjustment to a level of 201.5 (1982-84=100). This compares with the March index of 199.8. For the 12-month period ending in April, the overall index increased 3.5 percent. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, May 2006 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2005 : 2006 : 2005 : 2006 Ratios :---------------------------------------------- : May : Apr : May : May : Apr : May : Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1,859 *1,950 1,950 140 *146 146 Production : 1,344 *1,412 1,412 138 146 146 Feed : 575 602 604 118 123 124 Livestock & Poultry : 1,789 *1,702 1,641 140 133 128 Seeds : 1,694 1,838 1,838 171 186 186 Fertilizer : 586 659 655 160 180 179 Agricultural Chemicals : 749 777 780 121 126 126 Fuels : 1,571 1,882 1,971 204 244 255 Farm Supplies & Repairs : 1,016 *1,034 1,034 143 *146 146 Autos & Trucks : 3,060 *3,019 3,006 115 114 113 Farm Machinery : 4,301 4,511 4,509 171 180 180 Building Materials : 1,913 *2,037 2,047 141 150 151 Farm Services & Rent : 1,505 *1,557 1,557 Farm Services : 127 131 131 Rent : 125 131 131 Interest 1/ : 2,731 2,981 2,981 109 119 119 Taxes 2/ : 3,383 3,426 3,426 126 128 128 Wage Rates : 6,041 *6,326 6,326 161 *169 169 Production, Interest, Taxes, : & Wage Rates (PITW) : 1,862 *1,959 1,958 139 146 146 Family Living-CPI 3/ : 1,846 *1,914 1,914 144 *149 149 : : :---------------------------------------------- Ratio (Received\Paid) : 85 *77 78 Parity Ratio 4/ : 41 *37 37 Parity Ratio Adjusted 5/ : 45 *40 40 PPITW Adjusted for : Productivity 6/ : 1,230 *1,279 1,279 : : :---------------------------------------------- Crop Sector (PPITW) : 143 *151 151 Livestock Sector (PPITW) : 136 142 141 : : :---------------------------------------------- Farm Sector (Production) : 134 137 135 Non-Farm Sector (Production) : 141 150 151 -------------------------------------------------------------------------------- * 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 1.079 for 2006 and the revised factor is 1.096 for 2005. 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 2006 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 1/ : 2005 : 2006 :----------------------------------------------------- : 2005 : 2006 : May : Apr : May -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 66.4 66.8 138 146 146 : Feed : 10.7 10.9 118 123 124 Feed Grains : 1.5 1.6 85 *93 95 Complete Feeds : 5.2 5.3 118 121 120 Hay/Forages : 1.3 1.4 132 139 147 Concentrates : 1.7 1.7 128 130 128 Supplements : 0.9 0.9 133 153 149 Livestock & Poultry : 7.7 7.6 140 133 128 Feeder Cattle : 6.0 6.0 138 131 126 Feeder Pigs : 0.6 0.6 164 *150 138 Milk Cow Replacements : 0.6 0.6 157 157 157 Poultry : 0.5 0.5 109 109 109 Seeds : 3.5 3.6 171 186 186 Field Crops : 3.2 3.3 177 191 191 Grasses/Legumes : 0.3 0.3 118 133 133 Fertilizer : 4.3 4.3 160 180 179 Mixed Fertilizer : 1.9 1.9 136 151 153 Nitrogen : 1.8 1.8 186 213 209 Potash & Phosphate : 0.6 0.6 156 171 169 Agricultural Chemicals : 3.6 3.5 121 126 126 Herbicides : 2.3 2.2 113 121 122 Insecticides : 0.8 0.8 143 139 139 Fungicides/Other : 0.5 0.5 120 123 123 Fuels : 2.7 2.9 204 244 255 Diesel : 1.6 1.7 218 259 276 Gasoline : 0.8 0.8 187 224 238 LP Gas : 0.4 0.4 177 220 207 Farm Supplies & Repairs : 5.2 5.0 143 *146 146 Supplies : 1.7 1.7 132 *141 141 Repairs : 3.5 3.3 149 *148 148 Autos & Trucks : 1.8 1.8 115 114 113 Autos : 0.2 0.2 108 109 109 Trucks : 1.5 1.6 116 114 114 Farm Machinery : 4.0 4.4 171 180 180 Tractors : 0.9 1.0 154 159 159 Self-Propelled : 1.6 1.7 177 187 187 Other Machinery : 1.5 1.7 176 185 184 Building Materials : 3.6 4.0 141 150 151 Farm Services : 12.4 12.2 127 131 131 Custom Rates : 1.3 1.3 125 125 125 Other Services : 11.1 10.9 128 *131 131 Rent : 6.9 6.7 125 131 131 Cash : 3.7 3.6 151 159 159 Share : 3.2 3.1 94 98 98 Interest : 4.5 4.2 109 119 119 Taxes : 2.9 2.9 126 128 128 Wage Rates : 7.6 7.8 161 *169 169 Family Living-CPI : 18.6 18.4 144 *149 149 -------------------------------------------------------------------------------- * Revised. 1/ Weights may not add due to rounding. Feed Price Ratios: United States, May 2006 with Comparisons -------------------------------------------------------------------------------- : 2005 : 2006 Feed Price Ratio 1/ :----------------------------- : May : Apr : May -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed : equal in value to 1 pound of broiler, live weight : 6.9 *5.6 5.5 : Market Egg Feed: Pounds of Laying Feed equal in : Value to 1 dozen eggs : 4.6 *6.2 4.4 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 27.7 *19.6 21.8 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.93 *2.46 2.33 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 48.5 *42.3 39.5 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 6.9 7.4 7.3 -------------------------------------------------------------------------------- * 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 2006 with Comparisons -------------------------------------------------------------------------------- : : 2005 : 2006 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.440 0.340 0.340 Eggs, Market : Doz : 0.243 0.318 0.231 : : Hogs, All : Cwt : 54.90 41.30 47.20 Milk, All : Cwt : 14.70 12.10 12.00 : : Steers and Heifers : Cwt : 96.10 89.30 85.80 Turkeys, Live : Lb : 0.407 0.429 0.437 : : Corn : Bu : 1.98 2.11 2.17 Hay, Alfalfa, Baled : Ton : 116.00 110.00 118.00 : : Soybeans : Bu : 6.21 5.52 5.62 Wheat, All : Bu : 3.31 3.81 4.07 -------------------------------------------------------------------------------- Feeder Livestock: Prices Paid, United States May 2006 with Comparisons -------------------------------------------------------------------------------- : : 2005 : 2006 Commodity : Unit :------------------------------------------- : : May : Apr : May -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 116.90 110.70 106.60 Feeder Pigs : Cwt : 151.00 138.00 127.00 -------------------------------------------------------------------------------- Feed Price Ratios, Monthly, United States, January 2003 - May 2006 1/ -------------------------------------------------------------------------------- : : : : : : : : : : : : : Year: Jan : Feb : Mar :Apr : May : Jun : Jul :Aug : Sep : Oct : Nov : Dec : Avg : : : : : : : : : : : : : 2/ -------------------------------------------------------------------------------- : Broiler-Feed Ratio 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 5.6 6.1 6.4 6.3 6.4 6.6 6.6 5.9 2005: 7.1 7.4 7.0 7.0 6.9 6.6 6.4 7.0 7.7 7.3 7.3 6.5 7.0 2006: 6.1 6.3 6.1 5.6 5.5 5.9 : : Market Egg-Feed Ratios 4/ : 2003: 9.7 8.5 9.5 9.3 6.9 8.8 9.8 12.7 11.6 12.6 15.7 12.2 10.6 2004:12.9 10.8 13.2 7.9 6.0 6.6 5.9 5.7 6.6 5.9 8.8 9.7 8.3 2005: 7.3 7.4 6.4 5.2 4.6 4.4 5.9 5.1 9.3 6.6 10.3 11.3 7.0 2006: 8.5 5.9 9.8 6.2 4.4 7.0 : : Turkey-Feed Ratio 5/ : 2003: 5.8 5.8 6.0 5.9 5.7 5.8 5.9 5.7 6.0 6.3 6.3 5.7 5.9 2004: 5.0 4.6 4.4 4.5 4.8 5.2 5.8 7.0 7.8 8.4 8.7 8.2 6.2 2005: 6.8 6.9 6.5 6.7 6.9 7.0 7.3 8.0 9.0 9.5 10.0 9.5 7.8 2006: 7.0 6.9 6.9 7.4 7.3 7.1 : : Milk-Feed Ratio 6/ : 2003:2.42 2.33 2.27 2.25 2.18 2.19 2.59 2.89 3.11 3.23 3.05 2.85 2.61 2004:2.70 2.60 2.81 3.11 3.16 3.12 2.96 2.93 3.24 3.29 3.57 3.67 3.10 2005:3.49 3.48 3.33 3.18 2.93 2.87 2.93 3.06 3.26 3.40 3.46 3.27 3.22 2006:3.18 2.92 2.70 2.46 2.33 2.72 : : Hog-Corn Ratio 7/ : 2003:14.1 14.7 14.9 14.9 17.4 19.2 19.7 18.4 18.0 17.3 15.8 14.8 16.6 2004:15.3 16.3 17.2 16.4 19.7 20.3 22.7 23.6 24.9 24.4 27.1 25.6 21.1 2005:25.0 26.0 25.3 25.6 27.7 24.4 23.6 26.2 26.0 25.8 24.6 23.1 25.3 2006:20.4 21.1 20.8 19.6 21.8 20.7 : : Steer & Heifer-Corn Feed Ratio 8/ : 2003:33.3 33.4 32.9 33.7 33.4 33.6 36.4 38.6 40.6 46.1 45.4 41.4 37.4 2004:35.8 31.5 32.0 30.8 32.3 33.6 36.4 38.9 40.7 42.6 44.0 45.0 37.0 2005:44.4 47.7 47.1 49.1 48.5 45.3 41.8 45.0 48.5 52.8 54.9 51.9 48.1 2006:51.0 48.4 45.1 42.3 39.5 45.3 -------------------------------------------------------------------------------- 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 Field 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 Scott Cox - Wheat, Rye (202) 720-8068 Ty Kalaus - Corn, Proso Millet, Flaxseed (202) 720-9526 Shiela Corley - Cotton, Cottonseed (202) 720-5944 Travis Thorson - Hay, Oats, Sorghum (202) 690-3234 Jason Lamprecht - Soybeans, Sunflower, Other Oilseeds (202) 720-7369 Dennis Koong - Peanuts, Rice (202) 720-7688 Brian Young - Sugarcane, Sugarbeets, Barley (202) 720-7621 Jim Smith, Fruit and Vegetable Section (202) 720-2127 Dan Norris - Peaches, Pears, Hops, Pulses, Mint (202) 720-3250 Rich Holcomb - Citrus (202) 720-5412 Terry O'Connor - Apples, Apricots, Cherries, Cranberries, Plums, Prunes (202) 720-4288 Leslie Colburn - Grapes, Tobacco (202) 720-7235 Cathy Scherrer - Potatoes, Dry Edible Beans, Sweet Potatoes (202) 720-4285 Debbie Flippin - Vegetables, Onions, Strawberries (202) 720-2157 Livestock Prices Received Dan Kerestes, Chief, Livestock Branch (202) 720-3570 Bill Weaver, Livestock Section (202) 720-3570 Scott Hollis - Sheep, Lambs, Wool, Mohair (202) 720-4751 Ann Summa - Milk, Milk Cows (202) 720-3278 Bruce Boess - Hogs (202) 720-3106 Mike Miller - Cattle (202) 720-3040 Darin Jantzi, Poultry and Specialty Commodities Section (202) 720-3570 John Lange - Turkeys (202) 720-0585 Sharyn Lavender - Eggs (202) 720-3244 Jody Roberts - Broilers (202) 690-8632 Indexes, Prices Paid, and Parity Prices Linda Hutton, Chief, Environmental, Economics and Demographics Branch (202) 720-6146 Kevin Hintzman, Economics Section (202) 720-5446 Jen Brown - Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios, Grazing Fees, Autos & Trucks (202) 690-4752 Daryl Brinkman - Prices Received Indexes, Parity Prices (202) 720-8844 Jim Williams - Prices Paid Indexes, Prices Paid for Feed, Fertilizer, Agricultural Chemicals, Seeds (202) 690-3225 ACCESS TO REPORTS!! 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