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U.S. Farm Returns Increase 4% in March
WASHINGTON - Mar 30/05 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in March rose four points from February to a preliminary estimate of 118, based on 1990-92=100, according to the USDA.
The Crop Index is up 7 points (6.6%) while the Livestock Index is up 3 points (2.5%). Producers received higher commodity prices for cattle, soybeans, lettuce, and corn. Lower prices were received for strawberries, grapefruit, apples, and eggs.
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 strawberries, dairy, broilers, and tomatoes offset decreased marketings of cattle, corn, oranges, and cotton.
This preliminary All Farm Products Index is down 3 points (2.5%) from March 2004. The Food Commodities Index, at 122, is 4 points (3.4%) above last month but down 1 point (0.8%) from March 2004.
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