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Prices Received by U.S. Farmers Up From Last Year
WASHINGTON - Feb 28/07 - SNS -- February Farm Prices Received Index Increased 3 Points From Last Month
The preliminary All Farm Products Index of Prices Received by Farmers in February, at 127%, based on 1990-92=100, increased 3 points (2.4%) from January, judging from the latest USDA sector report.
The Crop Index is up 6 points (4.6%) and the Livestock Index increased 3 points (2.6%). Producers received higher commodity prices for corn, broilers, soybeans, and hogs. Lower prices were received for broccoli, lettuce, eggs, and oranges. The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased average marketings of dairy, cattle, broilers, and strawberries offset decreased marketings of corn, soybeans, wheat, and cotton.
The preliminary All Farm Products Index is up 14 points (12%) from February 2006. The Food Commodities Index, at 127, increased 3 points (2.4%) from last month and increased 11 points (9.5%) from February 2006.
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