U.S. Domestic Weekly Peanut Price Update

WASHINGTON - Mar 6/09 - SNS - Peanut prices received by farmers for all farmer stock peanuts averaged 24.9 cents per pound for the week ending February 28. The price per pound decreased 0.6 cent from the previous week. Marketings of all farmer stock peanuts for the week ending February 28 totaled 68.8 million pounds, down 3.31 million pounds from the previous week. The average price of Runner type peanuts was 24.1 cents per pound for the week ending February 28, down 0.1 cent from the previous week. Marketings of Runner type peanuts were 58.9 million pounds, up 951,000 pounds from the previous week. Peanuts: Prices and Marketings by Type and Week, United States ------------------------------------------------------------------------------- Item : Week Ending and :--------------------------------------------------------------- Type : Feb 28, : Feb 21, : Feb 14, : Feb 7, : Jan 31, : 2009 : 2009 : 2009 : 2009 : 2009 ------------------------------------------------------------------------------- : Dollars per Pound : Average Price : : Runners : 0.241 0.242 0.237 0.244 0.236 Spanish : * * * * * Valencias : * * * * * Virginias : 0.300 0.302 0.295 0.280 0.289 : All : 0.249 0.255 0.256 0.252 0.247 : : 1,000 Pounds : Marketings 1/ : : Runners : 58,888 57,937 52,150 63,794 75,672 Spanish : * * * * * Valencias : * * * * * Virginias : 9,752 8,492 19,632 19,531 19,801 : All : 68,753 72,062 75,576 84,951 95,527 ------------------------------------------------------------------------------- * Not published to avoid disclosing individual operations. 1/ Quantity purchased from farmers. Survey Procedures: Price and marketing information included in this report is provided the beginning of each week by first buyers of farmer stock peanuts. Each week, respondents are asked to report total pounds purchased (marketings) from farmers and total dollars paid, by type (Runners, Spanish, Valencias, and Virginias), for the previous week. The reported data is to include all qualities and grades and excludes peanuts used for seed. Data are collected by telephone, fax, and internet each week for the previous week. The peanut price survey is an enumeration of all known first buyers of farmer stock peanuts from growers. Every effort is made to obtain a report from all buyers. Summary and Estimation Procedures: Since a complete report is not received from all buyers each week, the reported quantities purchased and total dollars paid for each type are expanded to account for non-response. These expanded data are then used to calculate the weighted average price for each type. Estimates of price and marketings are prepared by the Agricultural Statistics Board and reviewed for reasonableness with recent historic estimates and between the different peanut types. Revisions: Price and marketing estimates for the prior 3 weeks are subject to revision based on late reports. At the end of the marketing year, all buyers will have an opportunity to update or provide any late data for any week during the marketing year. After this data is incorporated with previously reported data, revised weekly estimates will be published for the entire marketing year. Reliability: The peanut price survey is subject to non-sampling errors such as omission, duplication, imputation for missing data, and mistakes in reporting, recording, and processing the data. These errors cannot be measured directly, but are minimized through rigid quality controls in the data collection process and a careful review of all reported data for consistency and reasonableness. ACCESS TO REPORTS!! 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