Average Prices Received by U.S. Farmers Up From Last Year

WASHINGTON - Jan 31/08 - SNS -- January Farm Prices Received Index Advances 6 Points From Last Month

The preliminary All Farm Products Index of Prices Received by Farmers in January, at 150%, based on 1990-92=100, increased 6 points (4.2%) from December, judging from today's USDA data.

The Crop Index is up 16 points (11%) but the Livestock Index decreased 4 points (2.9%). The All Farm Index and All Crop Index are at record highs. Producers received higher commodity prices for corn, soybeans, broilers, and wheat and lower prices were received for milk, tomatoes, hogs, and turkeys. 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 corn, soybeans, cattle, and strawberries offset decreased marketings of grapes, milk, broilers, and cottonseed.

The preliminary All Farm Products Index is up 27 points (22%) from January 2007. The Food Commodities Index, at 150, increased 2 points (1.4%) from last month and increased 26 points (21%) from January 2007.

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