Prices Received by U.S. Farmers Up Versus Last Year

WASHINGTON - Feb 26/10 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in February, at 133%, based on 1990-92=100, decreased 6 points (4.3%) from January, reveals the current USDA report on the sector.

The Crop Index is down 7 points (4.6%) but the Livestock Index was unchanged. Producers received lower prices for corn, soybeans, lettuce, and eggs and higher prices for cattle, oranges, onions, and sweet corn. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly marketings of milk, cattle, broilers, and strawberries offset decreased marketings of corn, soybeans, wheat, and cotton.

The preliminary All Farm Products Index is up 7 points (5.6%) from February 2009. The Food Commodities Index, at 132, decreased 6 points (4.3%) from last month but increased 10 points (8.2%) from February 2009.

The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 185% of the 1990-92 average. The index is up 1 point (0.5%) from January and 6 points (3.4%) above February 2009. Higher prices for complete feeds, nitrogen, feeder cattle, and feeder pigs more than offset lower prices in February for diesel, feed grains, mixed fertilizer, and concentrates.

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