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U.S. On-Farm Prices Down From Last Month
WASHINGTON - Feb 29/08 - SNS -- The preliminary All Farm Products Index of Prices Received by Farmers in February, at 145%, based on 1990-92=100, was unchanged from January, reveals this USDA report.
The Crop Index is up 1 point (0.6%) and the Livestock Index increased 1 point (0.8%).
Producers received higher commodity prices for wheat, soybeans, corn, and hogs and lower prices were received for milk, lettuce, broccoli, and tomatoes. The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly marketings of milk, cattle, broilers, and eggs offset decreased marketings of corn, soybeans, wheat, and cotton.
The preliminary All Farm Products Index is up 17 points (13%) from February 2007. The Food Commodities Index, at 145, decreased 1 point (0.7%) from a month ago but increased 17 points (13%) from February 2007.
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