December 31, 2007
US feed grains price index climbs 27 percent above year-ago levels
Prices paid to farmers for commodity crops in December continued to increase, with the index for feed grains rising to 172, up 12 percent from last month and 27 percent above year ago prices, according to USDA's National agricultural Statistics Service.
The All Farm Index and All Crop Index are at record highs. Producers received higher commodity prices for corn, soy and wheat but lower prices for turkeys and broilers.
The preliminary All Farm Products Index of Prices Received by Farmers in December, at 151 percent (based on 1990-92=100), increased 5 points (3.4 percent) from November. The Crop Index is up 10 points (6.5 percent) but the Livestock Index is unchanged.
The December All Farm Products Index is 151 percent of its 1990-92 base, up 3.4 percent from the November index and 26 percent above the December 2006 index.
Increased average marketings of wheat, milk and broilers offset decreased marketings of soy, cattle and corn.
The preliminary All Farm Products Index is up 31 points (26 percent) from December 2006. The Food Commodities Index, at 158, increased 7 points (4.6 percent) from last month and increased 37 points (31 percent) from December 2006.
Last month, the government reported its index for overall agricultural prices rose 13 points, or 8.8 percent, from the same period a year ago.
The December index is 165, up 6.5 percent from November and 31 percent above December 2006.
Index increases for food grains, commercial vegetables, feed grains (including hay), and oil-bearing crops, more than offset the index decreases for fruits and nuts.
Food Grains: The December index, at 290, is 28 percent above the previous month and 92 percent above a year ago. The December all wheat price, at US$9.41 per bushel, is up US$2.05 from November and US$4.89 above December 2006.
Corn price, at US$3.88 per bushel, is up 45 cents from last month and 87 cents above December 2006.
The all hay price, at US$133 per tonne, is up US$2.00 from November and up US$23.00 from last December. Grain sorghum, at US$6.90 per cwt, is 64 cents above November and 81 cents above December last year.
Oil-Bearing Crops: The December index, at 183, is up 12 percent from November and 63 percent higher thanDecember 2006. Soy price, at US$10.40 per bushel, increased 99 cents from November and is US$4.22 above December 2006.
Other notable features of the report include the fact that the index for dairy has risen 52 percent compared to a year ago while oil crops rose 63 percent. Food grains grew at an even more blistering pace of 92 percent. In comparison, meat animal grew at a relatively modest 3.7 percent, but with poultry and eggs up 24 percent.
Wheat prices saw a whopping 108 percent increase compared to December 2006 while milk prices saw an increase of 52.8 percent. Egg prices saw a 92 percent rise while pork and broiler prices saw a relatively modest rise of about 11 percent and 10 percent respectively. Beef prices rose 7.2 percent .
The NASS report for agricultural prices can be found at http://usda.mannlib.cornell.edu/usda/current/AgriPric/AgriPric-12-28-2007.pdfc
|
|
December Index |
Change from November (percent) |
Change from December 2006 |
|
Livestock |
136 |
Unchanged |
20% |
|
Meat animals |
113 |
-1.70% |
3.70% |
|
Dairy |
166 |
-1.20% |
52% |
|
Poultry and egg |
154 |
-0.60% |
24% |
|
Food grains |
290 |
28% |
92% |
|
Oil crops |
183 |
12% |
63% |
|
Feed grains |
172 |
12% |
27% |
|
Food Commodities Index |
158 |
4.60% |
31% |
|
|
Price ( US$) |
Change from November ( US$) |
Change from December 2006 ( US$) |
% change from December 2006 |
|
Wheat |
9.41/bushel |
2.05 |
4.89 |
108% |
|
Egg |
1.28 |
0.1 |
0.615 |
92.40% |
|
Soy |
10.4/bushel |
0.99 |
4.22 |
68.20% |
|
Milk |
21.7/cwt |
-0.2 |
7.5 |
52.80% |
|
Corn |
3.88/bushel |
0.45 |
0.87 |
28.90% |
|
Hay |
133/tonne |
2 |
23 |
20.90% |
|
Sorghum |
6.90/cwt |
0.64 |
0.81 |
13.30% |
|
Broiler |
0.44/lb |
0.01 |
0.04 |
10% |
|
Beef cattle |
89.1/cwt |
-0.6 |
6 |
7.20% |
|
Hog |
39.5/cwt |
1.3 |
-4 |
-11.20% |
