Record U.S. Farm Product Values

WASHINGTON - Mar 30/04 - SNS -- Aggregate farm product values reached record levels during the past month, with the preliminary All Farm Products Index of Prices Received by Farmers hitting 122 in March, six points (5.2%) above the February Index.

This is the highest index level since records began in 1910. The Livestock Products Index increased 8 points (7.1%) from February while the All Crops Index increased 4 points (3.3%). Producers received higher commodity prices for cattle, soybeans, milk, and eggs. Lower prices were received for lettuce, strawberries, broccoli, and asparagus.

The seasonal change in the mix of commodities farmers sell, based on the past 3-year average, also affects the overall index. Increased average marketings of strawberries, asparagus, milk, and broilers offset decreased marketings of cattle, cotton, corn, and onions. The preliminary All Farm Products Index is up 23 points (23%) from March 2003.

The Food Commodities Index increased 7 points (6.0%) from last month to 123. The index stands 27 points (28%) above March 2003.

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