Pr 1 (3-08) Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released March 28, 2008, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" see page 35, office hours 7:30 a.m. to 4:00 p.m. ET. March Farm Prices Received Index Up 3 Points From Last Month The preliminary All Farm Products Index of Prices Received by Farmers in March, at 150 percent, based on 1990-92=100, increased 3 points (2.0 percent) from February. The Crop Index is up 8 points (4.9 percent) but the Livestock Index was unchanged. Producers received higher commodity prices for wheat, corn, lettuce, and eggs and lower prices for milk, snap beans, strawberries, and hogs. In addition to prices, the overall index is affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly marketings of strawberries, soybeans, milk, and broilers offset decreased marketings of cattle, corn, cotton, and oranges. The preliminary All Farm Products Index is up 17 points (13 percent) from March 2007. The Food Commodities Index, at 149, increased 3 points (2.1 percent) from last month and increased 15 points (11 percent) from March 2007. Prices Paid Index up 3 Points The March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 176 percent of the 1990-92 average. The index is up 3 points (1.7 percent) from February and 17 points (11 percent) above March 2007. Higher prices in March for diesel fuel, nitrogen fertilizers, complete feeds, and feed supplements more than offset lower prices for potash & phosphate materials, feeder cattle, trucks, and autos. Index Summary Table -------------------------------------------------------------------------------- : 2007 : 2008 Index :-------------------------------------------------------------- 1990-92=100 : Feb : Mar : Feb : Mar -------------------------------------------------------------------------------- : Prices Received : 128 133 147 150 : Prices Paid : 156 159 173 176 : Ratio 1/ : 82 84 85 85 -------------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid by farmers. Prices Received by Farmers The March All Farm Products Index is 150 percent of its 1990-92 base, up 2.0 percent from the February index and 13 percent above the March 2007 index. ALL CROPS: The March index is 171, up 4.9 percent from February and 20 percent above March 2007. Index increases for food grains, commercial vegetables, feed grains & hay, fruits & nuts more than offset the index decrease for cotton. Food Grains: The March index, at 332, is 15 percent above the previous month and 114 percent above a year ago. The March all wheat price, at $11.70 per bushel, is up $1.72 from February and $6.95 above March 2007. Feed Grains & Hay: The March index is 206, up 6.2 percent from last month and 36 percent above a year ago. The corn price, at $4.83 per bushel, is up 30 cents from last month and $1.40 above March 2007. The all hay price, at $139 per ton, is up $6.00 from February and up $20.00 from last March. Grain sorghum, at $8.72 per cwt, is 37 cents above February and $2.24 above March last year. Oil-Bearing Crops: The March index, at 214, is up 1.9 percent from February and 71 percent higher than March 2007. The soybean price, at $11.90 per bushel, increased 20 cents from February and is $4.95 above March 2007. Cotton: The March index, at 101, is down 1.0 percent from February but 31 percent above last year. The March price, at 61.4 cents per pound, is down 0.5 cent from the previous month but 15.0 cents above last March. Potatoes & Dry Beans: The March index, at 138, is up 3.0 percent from last month and 1.5 percent above March 2007. The all potato price, at $7.82 per cwt, is up 31 cents from February but down 11 cents from last March. The all dry bean price, at $32.20 per cwt, is unchanged from the previous month but $6.50 above March 2007. Fruits & Nuts: The March index, at 156, is up 4.0 percent from February and 4.0 percent higher than a year ago. The price increase for oranges more than offset price decreases for strawberries, grapefruit, lemons, and apples. Commercial Vegetables: The March index, at 131, is up 9.2 percent from last month but 32 percent below March 2007. Price increases during March for lettuce, tomatoes, broccoli, and cauliflower more than offset price declines for snap beans, cucumbers, and onions. LIVESTOCK & PRODUCTS: The March index, at 133, is unchanged from last month but up 6.4 percent from March 2007. Compared with a year ago, prices are higher for milk, eggs, turkeys, and broilers. Prices for cattle, hogs, and calves are down from last year. Meat Animals: The March index, at 114, is down 0.9 percent from last month and 3.4 percent lower than last year. The March hog price, at $41.20 per cwt, is down $1.00 from February and $3.70 lower than a year ago. The March beef cattle price of $88.70 per cwt is down 30 cents from last month and $2.90 lower than March 2007. Dairy Products: The March index, at 140, is down 4.1 percent from a month ago but 18 percent higher than March last year. The March all milk price of $18.30 per cwt is down 80 cents from last month but up $2.70 from March 2007. The fluid grade milk price is down 80 cents but the manufacturing grade milk price is unchanged from the previous month. Poultry & Eggs: The March index, at 170, is up 4.3 percent from February and 15 percent above a year ago. The March market egg price, at $1.30 per dozen, increased 8.0 cents from February and is 61.9 cents above March 2007. The March broiler price, at 51.0 cents per pound, is up 1.0 cent from February and a year ago. The March turkey price, at 52.9 cents per pound, is up 5.4 cents from the previous month and up 8.6 cents from a year earlier. Table of Contents U.S. Prices Received and Indexes Page Narrative 2 Price Indexes 5 Price Index Charts 6 U.S. Prices Received Summary 8 Charts 10 Selected Commodities 14 Upland Cotton & Rice Marketings 17 Parity Prices 24 Reliability Statement 26 Monthly State Prices Received Apples 17 Barley 15 Beans, Dry Edible 16 Beef Cattle, All 20 Calves 20 Cows, Beef 20 Steers and Heifers 20 Canola 16 Citrus Fruit 18 Monthly State Prices, continued Page Corn 15 Cotton 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 Table of Contents (continued) U.S. Prices Paid, Prices Paid Indexes and Ratios Page Narrative 27 Indexes and Parity Ratios 28 Charts 30 Feed Price Ratios 33 Reliability Statement 34 U.S. Average Prices Prices Used to Calculate Feed Price Ratios 33 Feeder Livestock 33 Information Contacts 35 Index Numbers of Prices Received, United States, March 2008, with Comparisons 1/ -------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 2007 : 2008 : 2007 : 2008 :Average :--------------------------------------------- :1990-92 : Mar : Feb : Mar : Mar : Feb : Mar -------------------------------------------------------------------------------- : All Farm Products : 843 *931 953 133 *147 150 : All Crops : 700 *804 842 142 *163 171 Food Grains : 492 *919 1,054 155 *289 332 Feed Grains & Hay : 540 *693 737 151 *194 206 Cotton : 392 *523 519 77 *102 101 Tobacco 2/ : 1,392 1,397 1,397 92 92 92 Oil-Bearing Crops : 683 *1,147 1,169 125 *210 214 Fruits & Nuts : 1,046 *1,044 1,086 150 *150 156 Commercial Vegetables : 1,286 *799 878 192 *120 131 Potatoes & Dry Beans : 689 *680 701 136 *134 138 Other Crops : 580 585 585 118 119 119 : Livestock & Products : 962 *1,019 1,020 125 *133 133 Meat Animals : 1,203 *1,169 1,155 118 *115 114 Dairy Products : 959 *1,174 1,125 119 *146 140 Poultry & Eggs : 415 459 477 148 163 170 : Food Commodities : 134 *146 149 -------------------------------------------------------------------------------- * Revised. 1/ Revised historical price indexes for months not shown are available at www.nass.usda.gov. 2/ Monthly prices discontinued July 2005. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Month, United States, 2007 and 2008 1/ -------------------------------------------------------------------------------- : Index of Prices Received : Index of Prices Paid :---------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :---------------------------------------------------------------- :2007 :2008 :2007 : 2008 : 2007 :2008 : 2007 :2008 : 2007 : 2008 -------------------------------------------------------------------------------- Jan : 123 145 131 158 115 131 155 170 152 171 Feb : 128 147 138 163 120 133 156 173 154 174 Mar : 133 150 142 171 125 133 159 176 157 179 Apr : 135 142 129 160 160 May : 137 140 134 161 160 Jun : 139 141 137 161 160 Jul : 140 141 140 161 161 Aug : 140 142 139 161 161 Sep : 141 142 139 162 161 Oct : 141 148 132 163 163 Nov : 142 148 136 165 165 Dec : 144 151 136 165 166 -------------------------------------------------------------------------------- 1/ Revised historical price indexes for months not shown are available at www.nass.usda.gov. Prices Received, United States, March 2008, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit: 1990-92 : Mar : Feb : Mar : : : 2007 : 2008 : 2008 -------------------------------------------------------------------------------- : : Dollars : : : : Field Crops : : : : Barley, All : Bu : 2.12 3.11 4.39 4.75 Feed : Bu : 1.90 3.19 4.67 4.41 Malting : Bu : 2.43 3.09 4.31 4.89 Beans, Dry Edible : Cwt: 19.10 25.70 32.20 32.20 Canola 1/ : Cwt: 22.20 23.50 Chickpeas, All : Cwt: 27.40 30.20 33.40 Large : Cwt: 29.60 32.10 35.00 Small : Cwt: 17.30 23.90 25.50 Corn : Bu : 2.30 3.43 4.53 4.83 Cotton, Upland : Lb : 0.606 0.464 0.619 0.614 Cottonseed 2/ : Ton: 96.00 162.00 : : Flaxseed : Bu : 4.27 6.79 15.70 17.50 Hay, All, Baled 3/ : Ton: 76.30 119.00 133.00 139.00 Alfalfa 3/ : Ton: 77.20 121.00 138.00 143.00 Other 3/ : Ton: 60.00 115.00 122.00 128.00 Lentils : Cwt: 12.10 29.00 31.20 Oats : Bu : 1.22 2.40 3.20 3.38 Peanuts, In-Shell : Lb : 0.304 0.178 0.210 0.209 Peas, Dry Edible : Cwt: 8.33 16.40 18.10 Austrian Winter : Cwt: 8.22 6/ 6/ Potatoes : Cwt: 5.82 7.93 7.51 7.82 : : Rice, Rough : Cwt: 7.07 10.00 12.50 12.90 Grain Sorghum : Cwt: 3.75 6.48 8.35 8.72 Soybeans : Bu : 5.61 6.95 11.70 11.90 Sunflower, All : Cwt: 9.50 15.60 24.20 24.10 : : Wheat, All : Bu : 2.96 4.75 9.98 11.70 Winter : Bu : 2.93 4.67 8.97 11.00 Durum : Bu : 2.86 5.32 13.50 14.50 Other Spring : Bu : 3.11 4.73 11.10 12.50 Hard Red Winter : Bu : 4.66 8.77 Soft Red Winter : Bu : 3.94 8.65 Hard Red Spring : Bu : 4.74 11.20 White : Bu : 3.24 5.04 10.10 : : Fruit : : : : Citrus, Equiv on-tree : : Grapefruit : Box: 5.77 2.91 4.07 3.14 Lemons : Box: 10.10 8.68 42.42 39.77 Oranges : Box: 5.79 10.58 5.74 6.07 Tangelos : Box: 5.82 6/ 1.55 6/ Tangerines : Box: 15.11 12.98 14.80 13.15 : : Noncitrus, Fresh : : Apples 4/ : Lb : 0.212 0.292 0.347 0.344 Grapes 4/ 6/ : Ton: 506.00 Peaches 4/ 6/ : Ton: 432.00 Pears 4/ : Ton: 370.00 544.00 534.00 511.00 Strawberries : Cwt: 56.00 88.90 128.00 113.00 -------------------------------------------------------------------------------- 1/ Monthly prices began in July 2007. 2/ Marketing year August - February. 3/ Mid-month price. 4/ Equivalent packinghouse-door returns for CA, MI, and NY (apples only), and WA (apples, peaches, and pears). Prices as sold for other states. 5/ Price not published to avoid disclosure of individual firms. 6/ Insufficient sales to establish a price. Prices Received, United States, March 2008, with Comparisons -------------------------------------------------------------------------------- : : : Entire Month :Preliminary : : Average :-------------------------------------- Commodity :Unit : 1990-92 : Mar : Feb : Mar : : : 2007 : 2008 : 2008 -------------------------------------------------------------------------------- : : Dollars : : : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 107.00 Broccoli : Cwt : 22.50 27.60 22.90 28.40 Cantaloups 2/ : Cwt : Carrots : Cwt : 13.20 28.30 25.90 25.90 Cauliflower : Cwt : 26.80 51.40 30.20 42.60 Celery : Cwt : 11.60 31.90 13.20 13.30 Corn, Sweet : Cwt : 15.70 30.20 23.00 28.00 Cucumbers 2/ : Cwt : 33.60 23.20 Lettuce : Cwt : 11.90 29.70 13.30 15.70 Onions : Cwt : 12.80 35.00 3.55 2.11 Snap Beans 2/ : Cwt : 102.00 98.30 43.00 Tomatoes : Cwt : 32.30 26.30 45.50 53.00 : : Livestock : : : : Calves : Cwt : 94.30 122.00 120.00 120.00 Cattle, All Beef : Cwt : 72.90 91.60 89.00 88.70 Cows 3/ : Cwt : 49.60 47.20 51.40 52.20 Steers & Heifers : Cwt : 77.10 97.70 94.20 93.80 Milk Cows 4/ : Head: 1,130.00 : : Hogs, All : Cwt : 47.70 44.90 42.20 41.20 Barrows & Gilts : Cwt : 48.40 45.50 43.20 41.90 Sows : Cwt : 39.50 33.00 22.90 25.10 : : Lambs : Cwt : 56.20 95.50 96.80 Sheep : Cwt : 23.40 36.60 29.90 : : Dairy and Poultry : : : : Milk, All 5/ 6/ : Cwt : 13.06 15.60 19.10 18.30 Fluid Grade 6/ : Cwt : 13.10 15.60 19.10 18.30 Mfg Grade 6/ : Cwt : 11.80 15.10 18.30 18.30 : : Broilers, Live 7/ : Lb : 0.317 0.500 0.500 0.510 Eggs, All 8/ : Doz : 0.643 0.828 1.310 1.380 Market 8/ 9/ : Doz : 0.546 0.681 1.220 1.300 Turkeys, live 8/ 10/: Lb : 0.380 0.443 0.475 0.529 : : Adjusted for Seasonal : : Variation 11/ : : Eggs, All : Doz : 0.545 0.761 1.250 1.270 Milk, All 5/ : Cwt : 9.71 16.20 19.60 19.00 -------------------------------------------------------------------------------- 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/ March 2008 Fat test percent: all milk, 3.74; fluid milk, 3.74; mfg grade, 4.02. 7/ Equivalent live weight price. 8/ Mid-month price. 9/ Also referred to as table eggs. 10/ Live weight equivalent price is used when actual live weight price is not available. 11/ Seasonal adjustment factors are: All Eggs March 2007, 109; February 2008, 105; and March 2008, 109. All Milk March 2007, 96; February 2008, 98; and March 2008, 96. Wheat: Prices Received, by State, February and March 2008 -------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat :Oth Spring Wheat State :----------------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3/ 4/ 3/ 3/ CA : 3/ 3/ 3/ 3/ 4/ 4/ CO : 8.82 10.80 8.74 10.80 3/ 4/ ID : 8.77 9.61 8.57 9.85 4.97 3/ 9.44 9.75 IL : 8.75 9.30 8.75 9.30 IN : 9.06 10.80 9.06 10.80 KS : 9.29 12.00 9.29 12.00 MI : 7.64 8.00 7.64 8.00 MN : 10.10 11.20 9.40 10.60 10.10 11.20 MO : 8.03 9.00 8.03 9.00 MT : 8.01 11.80 7.31 11.00 11.20 12.20 8.66 13.00 NE : 8.87 10.10 8.87 10.10 ND : 12.70 13.70 8.21 11.00 15.80 16.20 12.50 13.50 OH : 8.88 9.66 8.88 9.66 OK : 10.10 12.20 10.10 12.20 OR : 13.00 11.50 12.40 11.20 15.80 13.10 SD : 9.54 10.60 8.29 9.75 10.30 11.00 TX : 9.23 11.80 9.23 11.80 WA : 11.00 11.20 9.95 10.40 14.00 13.40 : US : 9.98 11.70 8.97 11.00 13.50 14.50 11.10 12.50 -------------------------------------------------------------------------------- 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, 2007 and 2008 1/ -------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 2/ : All Hogs Month :----------------------------------------------------------------------- : 2007 : 2008 : 2007 : 2008 : 2007 : 2008 : 2007 : 2008 : 2007 : 2008 -------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ------- Dollars per ------- : ----------- Cwt ----------- : Jan : 4.53 7.93 3.05 3.97 6.37 9.96 83.70 87.30 42.60 37.20 Feb : 4.71 9.98 3.44 4.53 6.87 11.70 86.10 89.00 47.50 42.20 Mar : 4.75 11.70 3.43 4.83 6.95 11.90 91.60 88.70 44.90 41.20 Apr : 4.89 3.39 6.88 93.70 47.30 May : 4.88 3.49 7.12 92.80 53.10 Jun : 5.03 3.53 7.51 88.80 54.30 Jul : 5.17 3.32 7.56 89.00 52.20 Aug : 5.64 3.26 7.72 91.40 51.30 Sep : 6.75 3.29 8.18 93.10 46.80 Oct : 7.65 3.29 8.36 90.90 42.40 Nov : 7.36 3.43 9.41 89.90 37.90 Dec : 7.74 3.76 10.00 89.20 39.60 -------------------------------------------------------------------------------- 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 State, February and March 2008 -------------------------------------------------------------------------------- : All Barley : Corn : Oats : Soybeans : Grain Sorghum Month :----------------------------------------------------------------------- :Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/ :Mar 2/ -------------------------------------------------------------------------------- :----------------- Dollars per Bushel ----------------- Dollars per Cwt : AL : AR : 12.00 12.50 9.07 3/ CA : 4/ 4/ CO : 3/ 3/ 4.36 4.65 ID : 4.22 4.27 IL : 4.58 4.90 3/ 3/ 12.20 12.00 8.83 9.00 IN : 4.61 4.95 12.40 12.60 IA : 4.50 4.75 3.98 3.50 11.80 12.00 KS : 4.86 5.24 3.56 3.39 12.10 12.20 8.47 8.81 KY : 4.59 5.00 12.10 12.50 LA : 9.31 3/ MI : 4.71 4.90 3.48 4/ 11.90 12.00 MN : 3.98 4.03 4.23 4.50 3.05 3.10 11.30 11.80 MS : 10.10 11.00 MO : 4.51 4.80 11.90 11.60 8.39 8.60 MT : 4.39 4.87 4/ 4/ NE : 4.44 4.75 3.81 3.90 11.90 11.90 8.30 8.65 NY : 3/ 3/ NC : 5.04 5.36 11.70 12.20 ND : 4.51 4.86 4.40 4.75 2.58 3.35 10.90 11.50 OH : 4.66 5.01 3/ 4/ 11.60 11.70 OK : 8.09 8.75 OR : 5.84 5.90 4/ 4/ PA : 5.47 5.61 3.64 3.64 SD : 3/ 3/ 4.42 4.80 3.27 3.39 10.60 10.70 TN : 4.82 5.10 13.10 12.90 TX : 5.09 5.43 3/ 3.89 8.11 8.50 UT : 3/ 5.38 WA : 5.32 5.33 WI : 4.40 4.55 3.03 3.25 11.90 11.60 WY : 3/ 4/ : US : 4.39 4.75 4.53 4.83 3.20 3.38 11.70 11.90 8.35 8.72 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual firms. 4/ Insufficient sales to establish a price. Malting and Feed Barley: Prices Received Selected State, February and March 2008 -------------------------------------------------------------------------------- : Malting Barley : Feed Barley State :-------------------------------------------------------------- : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Bushel : ID : 4.13 4.25 5.15 4.65 MN : 3.95 4.00 4.72 4.75 MT : 4.26 5.08 4.72 4.35 ND : 4.63 5.10 4.23 4.30 SD : 4/ 4/ 3/ 3/ WY : 3/ 4/ 4/ 4/ -------------------------------------------------------------------------------- 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, February and March 2008 -------------------------------------------------------------------------------- : Dry Edible : All : : : : Beans : Sunflower : Canola : Flaxseed : Peanuts 4/ State :--------------------------------------------------------------------- :Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 2/:Feb 1/:Mar 3/ -------------------------------------------------------------------------------- :-------------- Dollars per ------------- Dollars per Dollars per :------------------ Cwt ----------------- -- Bushel -- --- Pound -- : AL : 0.200 0.201 CA :47.30 49.30 CO :32.20 32.50 FL : 0.182 0.180 GA : 0.206 0.196 ID :31.60 33.40 KS : 5/ 25.80 MI :37.20 35.00 MN :32.20 34.40 20.10 24.10 19.40 6/ NE :32.20 34.70 NC : 0.206 0.200 ND :29.20 30.10 22.40 23.50 22.30 23.50 15.70 17.50 SD : 27.30 25.60 5/ 6/ TX : 0.241 0.260 VA : 0.229 0.162 : US :32.20 32.20 24.20 24.10 22.20 23.50 15.70 17.50 0.210 0.209 -------------------------------------------------------------------------------- 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, February and March 2008 -------------------------------------------------------------------------------- : : March : Cotton, Upland :-------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :-----------------------------: Fresh : Feb 1/ : Mar 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ -------------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton -------- Dol/Lb : AL : 0.566 0.558 AZ : 0.603 6/ 171.00 172.00 155.00 AR : 0.561 0.558 CA : 0.693 7/ 181.00 195.00 131.00 CO : 143.00 145.00 125.00 GA : 0.613 0.582 ID : 154.00 155.00 150.00 IL : 143.00 155.00 120.00 IA : 123.00 130.00 90.00 KS : 102.00 107.00 81.00 KY : 134.00 175.00 100.00 LA : 0.558 0.562 MI : 148.00 150.00 140.00 0.305 MN : 128.00 130.00 100.00 MS : 0.556 0.558 MO : 109.00 165.00 90.00 MT : 88.00 89.00 79.00 NE : 89.00 90.00 77.00 NV : 167.00 170.00 140.00 NM : 158.00 161.00 131.00 NY : 121.00 145.00 115.00 0.331 NC : 0.593 0.586 ND : 65.00 70.00 48.00 OH : 149.00 183.00 119.00 0.470 OK : 99.00 124.00 66.00 OR : 170.00 168.00 175.00 PA : 205.00 230.00 200.00 0.304 SD : 102.00 104.00 88.00 TN : 0.579 0.589 TX : 0.632 0.630 129.00 160.00 115.00 UT : 148.00 150.00 125.00 VA : WA : 163.00 160.00 170.00 0.348 WI : 113.00 115.00 80.00 WY : 108.00 110.00 103.00 : US : 0.619 0.614 139.00 143.00 128.00 0.344 -------------------------------------------------------------------------------- 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, March 2008, with Comparisons -------------------------------------------------------------------------------- Item : Unit : Jan 2008 1/ : Feb 2008 1/ : Mar 2008 2/ -------------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars per Pound : 0.607 0.619 0.614 Marketings 3/ : 1,000 Bales : 1,839 1,399 NA : : Rice : : Average Price : Dollars per Cwt : 11.80 12.50 12.90 Marketings 4/ : 1,000 Cwt : 19,730 15,072 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, March 2008 -------------------------------------------------------------------------------- : : 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 : CA : 16.00 6.15 6.58 -0.31 3.17 3.60 -3.29 FL : 21.20 5.79 12.72 2.58 3.25 10.58 -0.14 White : 20.00 4.30 11.25 2.90 1.95 9.15 0.50 Colored : 21.50 6.72 13.10 2.30 4.07 10.95 -0.70 TX : 18.00 3.67 7.19 0.65 2.45 5.94 -0.55 : US : 20.40 5.50 11.42 2.36 3.14 9.40 -0.19 : Lemons : CA : 61.70 45.30 51.43 -0.44 39.77 45.90 -5.97 : Oranges : CA : 18.50 8.38 10.39 1.47 5.83 7.83 -1.08 Navel and Misc: 18.50 8.27 10.43 1.46 5.72 7.88 -1.09 Valencia : 18.30 9.34 10.11 1.62 6.75 7.52 -0.97 FL : 19.50 8.91 10.45 8.87 6.26 7.62 6.22 Early and Mids: 18.90 8.83 9.90 8.80 6.17 7.10 6.15 Valencia : 19.70 8.94 10.70 8.90 6.29 7.85 6.25 TX : Early and Mids: 10.60 0.32 -0.32 2.40 -1.13 -1.78 0.98 : US : 18.40 8.68 10.17 8.15 6.07 7.62 5.51 : Tangerines : AZ : 32.50 17.37 23.08 0.24 14.07 19.78 -3.06 CA : 37.70 23.05 28.28 0.24 19.75 24.98 -3.06 FL : 22.00 8.02 10.50 5.50 4.27 7.00 1.50 : US : 32.70 16.64 22.67 3.69 13.15 19.31 -0.07 -------------------------------------------------------------------------------- 1/ Net lbs. per box: Grapefruit - AZ & CA-67, FL-85, TX-80; Lemons - 76; Oranges - AZ & CA-75, FL-90, TX-85; Tangelos - 90; Tangerines - AZ & CA-75, FL-95. Potatoes: Prices Received, by State, February and March 2008 1/ ------------------------------------------------------------------------------- : : :: : : State : Feb : Mar :: State : Feb : Mar : : :: : : ------------------------------------------------------------------------------- : Dollars per Cwt :: : Dollars per Cwt : :: : AL : :: : AZ : :: NC : CA - All 2/ : 10.40 10.70 :: ND - All 2/ : 7.25 7.30 - Winter : 16.30 17.10 :: - Fresh 3/ : 9.60 NA - Spring : :: - Processing : 6.45 NA - Summer : :: OR : 8.25 8.90 - Fall : 8.60 8.15 :: TX : CO - All 2/ : 9.55 9.75 :: VA : - Fresh 3/ : 10.80 NA :: WA - All 2/ : 8.20 7.55 FL : 42.10 38.20 :: - Processing : 6.50 NA ID - All 2/ : 5.60 6.20 :: WI - All 2/ : 8.30 8.30 - Fresh 3/ : 6.00 NA :: - Fresh 3/ : 8.70 NA - Processing : 5.40 NA :: - Processing : 7.85 NA ME : 7.95 8.15 :: : MI : 9.40 9.85 :: US - All 2/ : 7.51 7.82 MN : 6.35 6.55 :: - Fresh 3/ : 9.86 NA NY : 11.30 11.10 :: - Processing : 6.25 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. Cattle: Prices Received, by State, February and March 2008 -------------------------------------------------------------------------------- : Cows 1/ :Steers & Heifers : Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ : Feb 2/ : Mar 3/ -------------------------------------------------------------------------------- : Dollars per Cwt : AZ : 52.00 54.00 95.00 95.00 77.80 78.60 114.00 112.00 AR : 50.00 50.50 102.00 99.00 86.40 84.50 113.00 112.00 CA : 45.00 48.00 92.90 92.50 71.80 72.90 112.00 120.00 CO : 52.50 54.20 101.00 101.00 100.00 100.00 117.00 119.00 FL : 55.80 54.50 93.80 95.00 73.30 73.20 108.00 110.00 GA : 54.60 54.00 92.00 91.00 72.20 69.20 110.00 109.00 ID : 47.40 47.60 91.40 92.40 81.70 81.60 108.00 110.00 IL : 53.50 52.00 93.00 92.50 92.20 91.70 112.00 111.00 IA : 52.00 53.50 93.50 91.90 92.70 91.10 112.00 111.00 KS : 52.90 53.60 93.60 92.50 92.40 91.30 126.00 125.00 KY : 50.00 49.00 94.00 91.00 83.40 80.90 111.00 109.00 LA : 52.30 52.00 98.70 95.00 65.30 64.00 109.00 107.00 MI : 53.00 54.00 87.00 87.00 76.80 77.10 104.00 103.00 MN : 55.20 55.20 89.20 89.20 81.60 81.60 119.00 118.00 MO : 50.20 49.10 101.00 99.30 83.70 88.30 117.00 115.00 MT : 52.70 51.10 102.00 95.60 93.60 93.40 120.00 121.00 NE : 54.70 54.20 95.10 95.00 93.90 93.80 125.00 124.00 NM : 51.10 52.40 100.00 100.00 80.40 79.50 117.00 119.00 ND : 52.00 53.00 99.00 97.00 92.90 90.80 118.00 116.00 OH : 49.00 49.00 88.10 90.00 84.20 85.90 101.00 100.00 OK : 52.90 52.70 101.00 98.50 99.10 96.70 119.00 115.00 OR : 46.00 48.20 90.80 91.50 77.40 78.50 110.00 114.00 PA : 51.30 52.20 86.10 86.50 77.10 77.60 118.00 115.00 SD : 53.80 52.90 100.00 95.20 94.90 91.00 122.00 118.00 TN : 52.00 51.00 94.00 93.00 77.20 76.20 110.00 108.00 TX : 50.60 51.00 94.20 94.70 89.40 90.30 116.00 119.00 VA : 49.00 49.30 88.60 90.40 73.90 79.30 106.00 109.00 WI : 52.00 53.00 86.50 85.30 66.50 66.60 154.00 150.00 WY : 50.60 49.90 101.00 91.80 92.90 85.10 126.00 124.00 : US : 51.40 52.20 94.20 93.80 89.00 88.70 120.00 120.00 -------------------------------------------------------------------------------- 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, February and March 2008 -------------------------------------------------------------------------------- : Sows : Barrows and Gilts : All Hogs :----------------------------------------------------------------------- State : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ : Feb 1/ : Mar 2/ -------------------------------------------------------------------------------- : Dollars per Cwt : AR : 22.20 25.00 40.10 39.00 38.30 37.60 IL : 21.50 23.50 45.00 44.00 43.10 42.40 IN : 26.50 29.60 45.60 44.10 43.90 42.80 IA : 23.00 25.00 44.00 43.00 43.20 42.60 KS : 24.30 26.20 38.40 35.90 36.60 34.60 MN : 23.10 26.10 44.30 42.90 44.20 42.80 MO : 20.60 22.60 37.50 35.50 36.10 34.50 NE : 25.10 28.10 44.40 43.30 44.00 43.00 NC : 21.00 23.40 43.50 42.20 43.30 42.00 OH : 22.80 25.00 40.80 39.00 39.00 37.60 OK : 21.30 23.50 36.30 34.30 34.10 32.70 PA : 22.20 25.30 38.00 36.40 35.60 34.70 SD : 23.10 25.40 44.40 42.60 42.30 40.90 : US : 22.90 25.10 43.20 41.90 42.20 41.20 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. Sheep and Poultry: Prices Received, by State, February and March 2008 -------------------------------------------------------------------------------- : February : March State :----------------------------------------------------------------------- : Sheep 1/ : Lambs 1/ : Market Eggs 2/ 3/ -------------------------------------------------------------------------------- : ------ Dollars per Cwt ------ Dollars per Dozen : AL : 1.370 AR : 1.300 CA : 29.00 89.00 1.330 CO : 31.00 98.00 CT : 1.200 FL : 1.350 GA : 1.360 ID : 28.00 93.00 IN : 1.340 IA : 30.50 88.50 1.250 KY : 37.00 93.00 ME : 1.490 MI : 1.290 MN : 36.00 94.70 1.330 MS : 1.310 MO : 32.40 100.00 1.250 MT : 20.80 110.00 NE : 30.00 89.20 NY : 1.310 NC : 1.290 ND : 30.00 96.00 OH : 35.20 98.90 1.310 OR : 36.00 96.00 PA : 47.40 120.00 1.220 SC : 1.130 SD : 22.40 105.00 TX : 30.20 105.00 1.290 VA : 38.00 108.00 WA : 1.430 WV : 34.00 106.00 WY : 26.90 100.00 : US : 29.90 96.80 1.300 -------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Also referred to as table eggs. Milk and Milk Cows: Prices Received, by State, February and March 2008 -------------------------------------------------------------------------------- : February 1/ : March :------------------------------------------------------------------------ State : Fluid Grade : Manufacturing : All Milk : All Milk : : Milk 2/ : Grade Milk : 3/ : 3/ 4/ : Milk :---------------------------------------------------------------:Cows 5/ : : Fat : : Fat : : Fat : : Fat : : Price : Test : Price : Test : Price : Test : Price : Test : -------------------------------------------------------------------------------- :Dol/Cwt Percent Dol/Cwt Percent Dol/Cwt Percent Dol/Cwt Percent Dol/Head : AZ : 18.30 3.64 18.30 3.64 17.20 3.57 CA : 17.70 3.80 19.00 4.27 17.74 3.81 17.10 3.79 CO : 19.30 3.59 19.30 3.59 18.50 3.58 FL : 23.20 3.59 23.20 3.59 20.50 3.55 ID : 17.50 3.67 17.50 3.67 17.80 3.65 IL : 20.50 3.95 19.20 3.85 20.50 3.95 19.00 3.85 IN : 20.30 3.75 17.70 3.99 20.30 3.75 18.60 3.76 IA : 19.40 3.78 17.30 3.97 19.40 3.78 18.00 3.75 KS : 19.60 3.78 19.60 3.78 18.70 3.73 KY : 21.10 3.76 21.10 3.76 18.30 3.69 MI : 19.70 3.70 19.70 3.70 18.50 3.67 MN : 19.50 3.81 17.80 3.84 19.50 3.81 19.00 3.79 MO : 19.80 3.74 16.10 3.97 19.70 3.75 18.20 3.67 NM : 18.50 3.67 18.50 3.67 17.70 3.69 NY : 19.50 3.77 19.50 3.77 17.90 3.76 OH : 20.60 3.86 17.90 4.01 20.50 3.87 18.90 3.75 OR : 18.30 3.74 18.30 3.74 17.50 3.70 PA : 21.00 3.80 21.00 3.80 19.20 3.80 TX : 19.50 3.79 19.50 3.79 19.00 3.73 VT : 20.40 3.80 20.40 3.80 18.90 3.77 VA : 23.10 3.74 23.10 3.74 22.00 3.70 WA : 18.20 3.74 18.20 3.74 17.20 3.70 WI : 19.20 3.79 17.60 3.94 19.20 3.79 19.70 3.78 : US : 19.10 3.76 18.30 4.10 19.10 3.77 18.30 3.74 -------------------------------------------------------------------------------- 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, February and March 2008, with Comparisons -------------------------------------------------------------------------------- Item : Unit :Mar 2007 :Feb 2008 :Mar 2008 -------------------------------------------------------------------------------- Parity Equivalent : Dollars per Cwt : 36.60 41.40 42.10 Average Price F.O.B 2/ 3/ : Dollars per Cwt : 15.10 18.30 18.30 Average Fat Test of Milk 2/ 3/ : Percent : 4.02 4.10 4.02 -------------------------------------------------------------------------------- 1/ The parity price equivalent during 2008 is 92.1 percent of the parity price of all milk sold to plants, compared with 91.5 percent in 2007. For additional details, see January 2008 issue of "Agricultural Prices". 2/ Beginning in August 2007, Parity Price for Manufacturing Grade Milk is computed using the same methodology as Parity Prices for other commodities. 3/ Preliminary for March 2008. Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices, United States, with Comparisons 1/ -------------------------------------------------------------------------------- : : Parity Price : Price as Percent :Adjusted: : of Parity Commodity and Unit : Base :----------------------------------------- : Price : Mar : Feb : Mar : Mar : Feb : Mar : : 2007 : 2008 : 2008 : 2007 : 2008 : 2008 -------------------------------------------------------------------------------- : ---------- Dollars --------- ---- Percent --- : Basic Commodities : All Wheat, Bu : 0.533 10.70 12.30 12.50 44 81 94 Rice, Cwt : 1.29 28.90 29.70 30.20 35 42 43 Corn, Bu : 0.337 7.94 7.75 7.89 43 58 61 Cotton, Lb : American Upland : 0.092 2.03 2.12 2.15 23 29 29 Extra Long Staple : 0.137 2.94 3.15 3.21 32 32 31 Peanuts, Lb : 0.035 0.641 0.805 0.819 28 26 26 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt 2/ : 1.95 39.70 44.80 45.60 41 44 42 Honey, Extracted, Lb 3/ : 0.122 2.54 2.80 2.86 41 37 36 : Wool and Mohair : Wool, Lb : 0.080 1.69 1.84 1.87 40 48 47 Mohair, Lb : 0.371 7.42 8.53 8.69 50 44 43 : Other Nonbasic : Barley, Bu : 0.368 7.48 8.46 8.61 42 52 55 Canola, Cwt : 1.530 28.30 35.20 35.80 63 66 Cottonseed, Ton : 14.40 306.00 331.00 337.00 42 49 48 Dry Edible Beans, Cwt : 2.71 56.20 62.30 63.40 46 52 51 Flaxseed, Bu : 0.901 17.40 20.70 21.10 39 76 83 Mustard Seed, Cwt : 2.00 39.70 46.00 46.80 Oats, Bu : 0.219 4.44 5.03 5.13 54 64 66 Potatoes, Cwt : 0.827 16.90 19.00 19.40 47 40 40 Rapeseed, Cwt : 1.73 32.90 39.80 40.50 Rye, Bu : 0.420 8.56 9.66 9.83 Safflower, Cwt : 1.88 38.00 43.20 44.00 Sorghum Grain, Cwt : 0.601 13.60 13.80 14.10 48 61 62 Soybeans, Bu : 0.832 17.60 19.10 19.50 39 61 61 All Sunflower, Cwt : 1.68 34.30 38.60 39.30 45 63 61 Sweetpotatoes, Cwt : 2.34 47.70 53.80 54.80 Apples, Fresh, Lb 4/ : 0.032 0.622 0.736 0.749 47 47 46 Citrus (equiv on-tree), Box : Grapefruit : 0.631 12.90 14.50 14.80 23 28 21 Lemons : 1.22 23.60 28.00 28.60 37 152 139 Oranges : 0.651 12.40 15.00 15.20 85 38 40 Tangerines : 1.37 27.90 31.50 32.10 47 47 41 Beef Cattle, Cwt : 10.20 210.00 234.00 239.00 44 38 37 Calves, Cwt : 14.80 302.00 340.00 346.00 40 35 35 Hogs, Cwt : 5.58 121.00 128.00 131.00 37 33 31 Lambs, Cwt : 11.60 246.00 267.00 272.00 39 36 Sheep, Cwt : 4.67 101.00 107.00 109.00 36 28 Eggs, Doz 2/ : 0.089 1.82 2.05 2.08 42 61 61 Turkeys, Live, Lb : 0.056 1.160 1.290 1.310 38 37 40 -------------------------------------------------------------------------------- 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. Parity Prices for Farm Products, March 2008, United States 1/ ------------------------------------------------------------------------------- Other Nonbasic :Adjusted:Parity :: Other Nonbasic :Adjusted:Parity Commodities : Base : Price :: Commodities : Base : Price : Price : :: : Price : ------------------------------------------------------------------------------- :Dollars Dollars:: :Dollars Dollars : :: : Field Crops and : :: : Misc Commodities : :: Noncitrus Fruit, : Hops, Lb : 0.263 6.16 :: Continued : Spearmint Oil, Lb : 1.37 32.10 :: Papayas (HI) : 0.047 1.100 Tobacco, Lb : :: Peaches : Flue-Cured, 11-14 : 0.231 5.41 :: Fresh, Ton 2/ : 84.60 1,980.00 Fire-Cured, 21-23 : 0.311 7.28 :: Dried, CA, : Burley, 31 : 0.248 5.81 :: Ton : 74.20 1,740.00 Maryland, 32 : 0.191 4.47 :: Processing 3/ : Dark Air-Cured, : :: Excl Dried : 35-37 : 0.278 6.51 :: Clingstone, : PA Seedleaf, 41 : 0.196 4.59 :: CA, Ton : 33.70 789.00 Cigar Binder, 51 : 0.718 16.80 :: Pears, Ton : Type 61 : 3.13 73.30 :: Fresh 2/ : 54.50 1,280.00 : :: Dried, CA 4/ : 177.00 4,140.00 : :: Plums, CA, Ton : Noncitrus Fruit : :: Fresh, Equiv : Apples, Ton 4/ : :: on-Tree : 66.20 1,550.00 Processing : 15.70 368.00 :: Prunes, Dried, : Apricots, Ton : :: CA, Ton 4/ : 141.00 3,300.00 Fresh 5/ :105.00 2,460.00 :: Prunes and Plums, : Dried, CA :252.00 5,900.00 :: Excl CA, Ton : Avocados, Ton 5/ :227.00 5,310.00 :: Fresh 7/ : 63.10 1,480.00 Cherries : :: Processing 4/ : Sweet, Ton :197.00 4,610.00 :: Excl Dried : 28.60 670.00 Tart, Lb : 0.035 0.819:: : Cranberry, Bbl 3/ : 4.20 98.30 :: Tree Nuts 8/ : Dates, CA, Ton 5/ :185.00 4,330.00 :: Almonds, Lb : 0.209 4.89 Grapes, Ton : :: Hazelnuts, Ton : 162.00 3,790.00 Raisin Variety :119.00 2,790.00 :: Pistachio, Lb : 0.179 4.19 Other Dried : 70.90 1,660.00 :: Walnuts, Ton : 169.00 3,960.00 Kiwifruit, Ton : 93.80 2,200.00 :: : Nectarines : :: Vegetables, Cwt 9/ : Fresh, CA, Ton 5/: 58.50 1,370.00 :: Fresh : Olives, CA : :: Carrots 6/ : 2.44 57.10 canning, Ton 3/ : 90.70 2,120.00 :: Cauliflower 6/ : 4.32 101.00 : :: Celery 6/ : 2.04 47.80 : :: Honeydew Melons : 2.58 60.40 : :: Lettuce : 2.35 55.00 : :: Onions 6/ : 1.60 37.50 : :: Tomatoes : 4.68 110.00 : :: : ------------------------------------------------------------------------------- 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/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (except peaches), and WA. Price at point of first sale for other states. 3/ Equivalent returns for bulk fruit at first delivery point. 4/ Equivalent returns at processing plant door. 5/ Equivalent returns at packinghouse door. 6/ Includes some processing. 7/ Based on "as sold" prices for fresh fruit in all states. 8/ Prices in-shell basis except almonds which are shelled basis. 9/ 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 March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 176 (1990-92=100), is up 1.7 percent from February 2008 and 11 percent from March 2007. PRODUCTION INDEX: The March index, at 179, increased 2.9 percent from last month and 14 percent from last year. Higher prices in March for diesel fuel, nitrogen fertilizers, complete feeds, and feed supplements more than offset lower prices for potash & phosphate materials, feeder cattle, trucks, and autos. Feed: The March index, at 197, increased 5.9 percent from February and 31 percent from last March. While all sub-component prices are higher, supplements are up 16 percent from last month. Livestock & Poultry: The March index, at 125, decreased 1.6 percent from last month and 3.8 percent from last year. Since February, lower prices for feeder cattle more than offset higher prices for feeder pigs. The March feeder cattle price, at $101.60 per cwt, is down $2.30 per cwt from the February price. March feeder pigs averaged $115.00 per cwt, up $2.00 per cwt from February. Fertilizer: The March index, at 277, is up 6.9 percent from February and 37 percent from March a year ago. Since February, higher prices for nitrogen fertilizers and mixed fertilizers more than offset lower prices for potash & phosphate materials. Chemicals: The March index, at 139, increased 0.7 percent from February and 6.9 percent from last March. Since February, prices for all sub-components are higher. Fuels: The March index, at 338, is up 10 percent from a month earlier and 41 percent above March 2007. The diesel fuel price is up 13 percent, the gasoline price is up 6.2 percent, and the LP gas price is up 1.3 percent. Machinery: The March index, at 193, was unchanged from February but 2.1 percent above last March. CONSUMER PRICE INDEX: The February 2008 Consumer Price Index, as issued by the Bureau of Labor Statistics, for all urban consumers (CPI-U) increased 0.3 percent before seasonal adjustment to a level of 211.693 (1982-84=100). This compares with the January index of 211.080. For the 12-month period ending in February, the overall index increased 4.0 percent. Indexes of Prices Paid by Farmers and Related Parity Ratios United States, March 2008 With Comparisons 1/ -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 2007 : 2008 : 2007 : 2008 Ratios :---------------------------------------------- : Mar : Feb : Mar : Mar : Feb : Mar : Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 2,114 2,302 2,341 159 173 176 Production : 1,522 1,692 1,733 157 174 179 Feed : 731 910 962 150 186 197 Livestock & Poultry : 1,662 1,623 1,599 130 127 125 Seeds : 1,838 2,086 2,086 186 211 211 Fertilizer : 740 950 1,016 202 259 277 Chemicals : 803 851 861 130 138 139 Fuels : 1,855 2,364 2,609 240 306 338 Supplies & Repairs : 1,052 1,072 1,072 148 151 151 Autos & Trucks : 2,975 2,956 2,947 112 111 111 Machinery : 4,732 4,839 4,839 189 193 193 Building Materials : 2,090 2,137 2,152 154 157 158 Services & Rent : 1,752 1,842 1,842 Services : 145 150 150 Rent : 151 163 163 Interest 2/ : 3,865 4,100 4,100 154 164 164 Taxes 3/ : 5,043 5,443 5,443 188 203 203 Wage Rates : 6,720 6,959 6,959 180 186 186 Production, Interest, Taxes, : & Wage Rates (PITW) : 2,150 2,364 2,412 160 176 180 Family Living-CPI 4/ : 1,950 2,011 2,011 152 157 157 : : :---------------------------------------------- Ratio (Received\Paid) : 84 *85 85 Parity Ratio 5/ : 40 *40 41 Parity Ratio Adjusted 6/ : 42 *42 43 PPITW Adjusted for : Productivity 7/ : 1,401 1,462 1,468 : : :---------------------------------------------- Crop Sector (PPITW) : 163 178 181 Livestock Sector (PPITW) : 154 168 171 : : :---------------------------------------------- Farm Sector (Production) : 149 170 174 Non-Farm Sector (Production) : 161 177 181 -------------------------------------------------------------------------------- * Revised. 1/ Revised historical price indexes for months not shown are available at www.nass.usda.gov. 2/ Interest per acre on farm real estate debt and interest rate on farm non-real estate debt. 3/ Farm real estate taxes payable per acre. 4/ Bureau of Labor Statistics, Consumer Price Index for all urban consumers (CPI-U), for the previous month converted by the USDA. 5/ Ratio of index of prices received to PPITW (1910-14=100). 6/ Based on estimated cash receipts, from marketings and government payments, the preliminary adjustment factor is 1.079 for 2008 and the revised factor is 1.096 for 2007. 7/ PPITW is adjusted based on productivity trend for the prior 15 years. Prices Paid Indexes and Annual Weights for Input Components and Sub-Components United States, March 2008 With Comparisons 1/ -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :--------------------------- Index :5-Year Moving Average 2/ : 2007 : 2008 :----------------------------------------------------- : 2007 : 2008 : Mar : Feb : Mar -------------------------------------------------------------------------------- : ---- Percent ---- ---- (1990-92=100) --- : Production Items : 67.4 67.9 157 174 179 : Feed : 10.9 10.9 150 186 197 Feed Grains : 1.6 1.6 150 197 210 Complete Feeds : 5.3 5.4 145 175 184 Hay/Forages : 1.4 1.4 161 177 185 Concentrates : 1.7 1.7 142 177 179 Supplements : 0.9 0.9 177 264 306 Livestock & Poultry : 7.7 8.0 130 127 125 Feeder Cattle : 6.0 6.2 124 123 120 Feeder Pigs : 0.6 0.6 171 123 125 Milk Cow Replacements : 0.6 0.6 147 174 174 Poultry : 0.5 0.5 125 125 125 Seeds : 3.7 3.8 186 211 211 Field Crops : 3.4 3.5 191 218 218 Grasses/Legumes : 0.4 0.4 133 142 142 Fertilizer : 4.4 4.4 202 259 277 Mixed Fertilizer : 1.9 1.9 183 224 233 Nitrogen : 1.8 1.9 226 299 342 Potash & Phosphate : 0.6 0.6 186 250 222 Chemicals : 3.4 3.3 130 138 139 Herbicides : 2.2 2.1 123 130 131 Insecticides : 0.8 0.8 148 157 159 Fungicides/Other : 0.5 0.5 132 141 142 Fuels : 3.1 3.3 240 306 338 Diesel : 1.9 2.1 260 330 373 Gasoline : 0.7 0.8 206 243 258 LP Gas : 0.4 0.4 211 300 304 Supplies & Repairs : 4.8 4.7 148 151 151 Supplies : 1.6 1.6 140 143 143 Repairs : 3.2 3.1 153 155 155 Autos & Trucks : 1.8 1.7 112 111 111 Autos : 0.2 0.2 109 109 109 Trucks : 1.6 1.5 112 112 111 Machinery : 4.5 4.5 189 193 193 Tractors : 1.0 1.0 166 180 180 Self-Propelled : 1.8 1.8 196 197 197 Other Machinery : 1.7 1.7 194 196 196 Building Materials : 4.3 4.5 154 157 158 Services : 12.2 12.2 145 150 150 Custom Rates : 1.3 1.3 125 125 125 Other Services : 10.9 10.9 147 153 153 Rent : 6.7 6.6 151 163 163 Cash : 3.6 3.5 180 195 195 Share : 3.1 3.0 117 126 126 Interest : 4.0 3.8 154 164 164 Taxes : 2.9 2.9 188 203 203 Wage Rates : 7.8 7.8 180 186 186 Family Living-CPI : 18.0 17.6 152 157 157 -------------------------------------------------------------------------------- 1/ Revised historical price indexes for months not shown are available at www.nass.usda.gov. 2/ Weights may not add due to rounding. Feed Price Ratios: United States, March 2008 with Comparisons -------------------------------------------------------------------------------- : 2007 : 2008 Feed Price Ratio 1/ :----------------------- : Mar : Feb : Mar -------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower Feed equal : in value to 1 pound of broiler, live weight 2/ : 5.9 *3.9 3.8 : Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs 3/ : 9.1 *11.1 11.4 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 13.1 *9.3 8.5 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk 4/ : 2.39 *2.24 2.05 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : 28.5 *20.8 19.4 live weight : : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight 5/ : 5.5 *3.6 3.8 -------------------------------------------------------------------------------- * 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. 2/ The price of commercial perpared broiler feed is based on current U.S. prices received for corn and soybeans. The modeled feed uses 58 percent corn and 42 percent soybeans. 3/ The price of commercial prepared layer feed is based on current U.S. prices received for corn and soybeans. The modeled feed uses 75 percent corn and 25 percent soybeans. 4/ The price of commercial prepared dairy feed is based on current U.S. prices received for corn, soybeans, and alfalfa. The modeled feed uses 51 percent corn, 8 percent soybeans, and 41 percent alfalfa. 5/ The price of commercial prepared turkey feed is based on current U.S. prices received for corn, soybeans, and wheat. The modeled feed used 51 percent corn, 28 percent soybeans, and 21 percent wheat. Prices Used to Calculate Feed Price Ratios: United States, March 2008 with Comparisons -------------------------------------------------------------------------------- : : Entire Month : Preliminary Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar : : 2007 : 2008 : 2008 -------------------------------------------------------------------------------- Broilers, Live : Lb : 0.500 0.500 0.510 Eggs, Market : Doz : 0.681 1.220 1.300 : : Hogs, All : Cwt : 44.90 42.20 41.20 Milk, All : Cwt : 15.60 19.10 18.30 : : Steers and Heifers : Cwt : 97.70 94.20 93.80 Turkeys, Live : Lb : 0.443 0.475 0.529 : : Corn : Bu : 3.43 4.53 4.83 Hay, Alfalfa, Baled : Ton : 121.00 138.00 143.00 : : Soybeans : Bu : 6.95 11.70 11.90 Wheat, All : Bu : 4.75 9.98 11.70 -------------------------------------------------------------------------------- Feeder Livestock: Prices Paid, United States March 2008 with Comparisons -------------------------------------------------------------------------------- : : 2007 : 2008 Commodity : Unit :------------------------------------------- : : Mar : Feb : Mar -------------------------------------------------------------------------------- : : Dollars : : Feeders and Stockers : : Cattle and Calves : Cwt : 105.40 *103.90 101.60 Feeder Pigs : Cwt : 157.00 113.00 115.00 -------------------------------------------------------------------------------- * Revised. Reliability of Prices Paid Estimates 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 Kevin Barnes, Chief, Environmental, Economics and Demographics Branch at (202) 720-6146. Below are the commodity specialists to contact for additional information. Crop Prices Received Jeff Geuder, Chief, Crops Branch (202) 720-2127 Greg Thessen, Field Crops Section (202) 720-2127 Todd Ballard - Wheat, Rye (202) 720-8068 Ty Kalaus - Corn, Proso Millet, Flaxseed (202) 720-9526 Shiela Corley - Cotton, Cottonseed (202) 720-5944 Travis Thorson - Soybeans, Sunflower, Canola, Other Oilseeds (202) 720-7369 Don Gephart - Hay, Oats, Sorghum (202) 690-3234 Anthony Prillaman - Peanuts, Rice (202) 720-2127 Dawn Keen - Sugarcane, Sugarbeets, Barley (202) 720-7621 Lance Honig, Fruits,Vegetables & Special Crops Section (202) 720-2127 Dan Norris - Peaches, Pears, Hops, Pulses, Mint (202) 720-3250 Faye Propsom - Citrus, Tropical Fruits (202) 720-5412 Mike Jacobsen - Apples, Apricots, Cherries, Cranberries, Plums, Prunes (202) 720-4288 Leslie Colburn - Grapes, Tobacco (202) 720-7235 Lance Honig - Potatoes, Dry Edible Beans, Sweet Potatoes (202) 720-2127 Debbie Flippin - Vegetables, Onions, Strawberries (202) 720-2157 Doug Marousek - Tree Nuts (202) 720-4215 Livestock Prices Received Dan Kerestes, Chief, Livestock Branch (202) 720-3570 Scott Hollis, Livestock Section (202) 690-2424 Scott Hollis - Sheep, Lambs, Goats, Wool, Mohair (202) 690-2424 Jason Hardegree- 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 Toby Paterson - Turkeys (202) 720-0585 Sharyn Lavender - Broilers, Honey (202) 720-3244 Kim Linonis - Eggs (202) 690-8632 Indexes, Prices Paid, and Parity Prices Kevin Barnes, Chief, Environmental, Economics and Demographics Branch (202) 720-6146 Kevin Hintzman, Economics Section (202) 720-6146 Jennifer Sissom - Prices Paid Indexes, Prices Paid for Feed, Fertilizer, Agricultural Chemicals, Seeds, Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios, Autos & Trucks (202) 690-3229 Daryl Brinkman - Prices Received Indexes, Parity Prices (202) 720-8844 Kathy King - Grazing Fees (202) 720-2250 ACCESS TO REPORTS!! 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