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February farm prices received index decreased 20 points
Story Date: 3/1/2013
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Source: USDA, 2/28/13
February farm prices received index decreased 20 points
The preliminary All Farm Products Index of Prices Received by Farmers in February, at 197 percent, based on 1990-1992=100, decreased 20 points (9.2 percent) from January. The Crop Index is down 20 points (8.0 percent) and the Livestock Index decreased 3 points (1.8 percent). Producers received lower prices for lettuce, corn, broccoli, and wheat and higher prices for hogs, celery, rice, and oranges. 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 movement of cattle, milk, broilers, and hogs offset the decreased marketing of corn, soybeans, wheat, and grain sorghum.
The preliminary All Farm Products Index is up 16 points (8.8 percent) from February 2012. The Food Commodities Index, at 182, decreased 15 points (7.6 percent) from last month but increased 14 points (8.3 percent) from February 2012.
Prices Paid Index Down 1 Point
The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 219 percent of the 1990-1992 average. The index is down 1 point (-0.5 percent) from January but 8 points (3.8 percent) above February 2012. Lower prices in February for complete feeds, concentrates, feeder cattle, and supplements offset higher prices for diesel, gasoline, nitrogen, and other services.
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