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U.S. On-Farm Prices Down On The Year

WASHINGTON - May 28/10 - SNS -- May Farm Prices Received Index Up 3 Points The preliminary All Farm Products Index of Prices Received by Farmers in May, at 141%, based on 1990-1992=100, increased 3 points (2.2%) from April, reveals today's USDA update on the sector.

The Crop Index is up 1 point (0.7%) and the Livestock Index increased 4 points (3.1%). Producers received higher prices for lettuce, broilers, hogs, and strawberries and lower prices for onions, eggs, sweet corn, and tomatoes. 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 sweet corn, broilers, grapes, and wheat offset decreased marketings of cattle, milk, apples, and corn. The preliminary All Farm Products Index is up 11 points (8.5%) from May 2009. The Food Commodities Index, at 142, increased 3 points (2.2 %) from last month and increased 16 points (13%) from May 2009. Prices Paid Index Unchanged The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 183% of the 1990-1992 average. The index is unchanged from April but 3 points (1.7%) above May 2009. Higher prices in May for nitrogen, diesel, mixed fertilizer, and hay & forages offset lower prices for complete feeds, concentrates, feeder pigs, and feeder cattle.
ALL CROPS: The May index is 150, up 0.7% from April but unchanged from May 2009. Index increases for fruits & nuts and feed grains & hay more than offset the index decreases for commercial vegetables, oil-bearing crops, potatoes & dry beans, and food grains.
Food Grains: The May index, at 160, is down 1.8% from the previous month and 20% below a year ago. The May all wheat price, at $4.39 per bushel, is down 3 cents from April and $1.45 below May 2009.
Feed Grains & Hay: The May index is 149, up 0.7% from last month but 14% below a year ago. The corn price, at $3.41 per bushel, is unchanged from last month but down 55 cents from May 2009. The all hay price, at $116 per ton, is up $7.00 from April but down $14.00 from last May. Sorghum grain, at $5.31 per cwt, is down 8 cents from April and 67 cents below May the previous year.
Cotton: The May index, at 106, is down 2.8% from April but 43% above last year. The May price, at 64.3 cents per pound, is down 1.9 cents from the previous month but 19.4 cents above last May.
Oilseeds: The May index, at 165, is down 2.4% from April and 14% lower than May 2009. The soybean price, at $9.28 per bushel, decreased 19 cents from April and is $1.42 below May 2009.
Fruits & Nuts: The May index, at 139, is up 11% from April and 4.5% higher than a year ago. Prices increased for strawberries, oranges, and apples.
Commercial Vegetables: The May index, at 181, is down 11% from last month but 28% above May 2009. Price declines for sweet corn, onions, tomatoes, and snap beans throughout May more than offset price increases for lettuce, cauliflower, celery, and asparagus.
Potatoes & Dry Beans: The May index, at 139, is down 5.4% from last month and 15% below May 2009. The all potato price, at $7.95 per cwt, is down 47 cents from April and down $1.67 from last May. The all dry bean price, at $30.00 per cwt, is down 80 cents from the previous month but $2.40 above May 2009.
LIVESTOCK & PRODUCTS: The May index, at 132, is 3.1% above last month and up 17% from May 2009. Compared with a year ago, prices are higher for cattle, milk, hogs, broilers, turkeys, calves, and eggs.
Meat Animals: The May index, at 132, is up 3.1% from last month and 20% higher than last year. The May index surpasses the previous high realized in August 2008. The May hog price, at $62.30 per cwt, is up $5.80 from April and $17.70 higher than a year ago. The May beef cattle price of $96.50 per cwt is up 80 cents from last month and $13.30 higher than May 2009.
Dairy Products: The May index, at 115, is up 2.7% from a month ago and 29% higher than May last year. The May all milk price of $15.00 per cwt is up 40 cents from last month and $3.40 from May 2009. The fluid grade milk price increased 40 cents and the manufacturing grade milk price 20 cents from the previous month.
Poultry & Eggs: The May index, at 147, is up 2.1% from April and 3.5% above a year ago. The May market egg price, at 44.1 cents per dozen, decreased 15.8 cents from April but is 2.3 cents above May 2009. The May broiler price, at 51.0 cents per pound, is up 3.0 cents from April and 2.0 cents above a year ago. The May turkey price, at 55.1 cents per pound, is up 1.4 cents from the previous month and 5.0 cents from a year earlier. Contents U.S. Prices Received and Indexes Page Narrative.................................................................. 2 Price Indexes.............................................................. 5 Index Charts............................................................... 6 U.S. Prices Received Summary............................................... 8 Price 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 Corn....................................................................... 15 Cotton..................................................................... 17 Cottonseed................................................................. 17 Flaxseed................................................................... 16 Hay........................................................................ 17 Hogs, All ................................................................. 21 Barrows and Gilts........................................................ 21 Sows..................................................................... 21 Milk....................................................................... 23 Milk Cows.................................................................. 23 Oats....................................................................... 15 Peanuts.................................................................... 16 Potatoes................................................................... 19 Rice ...................................................................... 17 Sheep...................................................................... 22 Lambs...................................................................... 22 Sorghum Grain.............................................................. 15 Soybeans................................................................... 15 Sunflower, All............................................................. 16 Wheat, All Classes......................................................... 14 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 .................................................... 35 U.S. Average Prices Prices Used to Calculate Feed Price Ratios ............................... 33 Feeder Livestock ......................................................... 33 Feed Price Ratios Monthly Revisions Feed Price Ratios, January 2006 - May 2010 ............................... 34 Information Contacts ..................................................... 36

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