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U.S. Farm Prices Received Up
WASHINGTON - Feb 28/05 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in February came in at 113, reports the USDA, 2 points (1.8%) above the January Index.
The Crop Index is up 5 points (5.0%) while the Livestock Index is down 1 point (0.8%). Producers received higher prices for tomatoes, oranges, broccoli, and celery. Lower prices were received for corn, dairy, hogs, and soybeans.
The seasonal change in the mix of commodities farmers sell, based on the past 3-year average, also affects the overall index. Increased average marketings of dairy, cattle, broilers, and strawberries offset decreased marketings of corn, soybeans, tobacco, and wheat.
This preliminary All Farm Products Index is down 3 points (2.6%) from February 2004. The Food Commodities Index, at 117, is 2 points (1.7%) above last month but unchanged from February 2004.
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