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No Change in Cost of farming in U.S.
WASHINGTON - Mar 30/05 - SNS -- There was no change in the cost of farming in the United States in March, with the USDA leaving the March Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) at 135% of the 1990-92 average.
The index was unchanged from February but 3 points (2.3%) above March 2004. More importantly, it remains sharply higher than the prices received index, which is just 118% of the 1990-92 average. On the plus side, prices received were up four points from February.
Lower prices in March for complete feeds, feed supplements, nitrogen fertilizers, and herbicides were offset by higher prices for feeder cattle, diesel fuel, other machinery, LP gas, and gasoline.
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