mi-press-releases

News Release
NR-12-16
March 1, 2012

U.S. Department of Agriculture
National Agricultural Statistics Service
Michigan Field Office
Michigan Department of Agriculture
Post Office Box 30239
Lansing, MI  48909-6248

Phone:      (517) 324-5300
Facsimile:  (517) 324-5299
E-mail:     nass-mi@nass.usda.gov
Web site:   www.nass.usda.gov

Jay V. Johnson, Director

February Agricultural Prices

Prices received by Michigan farmers for the full month of January 2012 and 
mid-month prices as of February 15, 2012, according to the USDA, NASS, 
Michigan Field Office, are listed in the table below. Some Michigan 
highlights were: corn $6.00 per bushel, up $0.03 from January and up $0.15 
from last year; soybeans $12.10 per bushel, up $0.40 from last month; milk 
$18.80 per cwt, down $1.00 from last month, and down $0.40 from last year.

U.S. preliminary All Farm Products Index of Prices Received by Farmers in 
February, at 180 percent, based on 1990-1992=100, decreased 8 points (4.3 
percent) from January. The Crop Index is down 8 points (3.8 percent) but the 
Livestock Index increased 1 point (0.6 percent). Producers received lower 
prices for milk, strawberries, celery, and lettuce and higher prices for 
soybeans, corn, broilers, and hogs. In addition to prices, the overall index 
is also affected by the seasonal change based on a 3-year average mix of 
commodities producers sell. Increased monthly movement of cattle, milk, 
broilers, and hogs offset the decreased marketing of corn, soybeans, wheat, 
and cotton. The preliminary All Farm Products Index is up 9 points (5.3 
percent) from February 2011. The Food Commodities Index, at 167, decreased 5 
points (2.9 percent) from last month but increased 4 points (2.5 percent) 
from February 2011.

The February Index of Prices Paid for Commodities and Services, Interest, 
Taxes, and Farm Wage Rates (PPITW) is 209 percent of the 1990-1992 average. 
The index is up 1 point (0.5 percent) from January and 12 points (6.1 
percent) above February 2011. Higher prices in February for feeder cattle, 
diesel, concentrates, and gasoline offset lower prices for supplements, LP 
gas, potash & phosphate, and other machinery.

                Prices received by farmers, February 2012               
------------------------------------------------------------------------
                  :     :       Michigan        :     United States     
                  :     :-----------------------:-----------------------
     Commodity    :Unit :  Feb  :  Jan  :  Feb  :  Feb  :  Jan  :  Feb  
                  :     :2011 1/:2012 1/:2012 2/:2011 1/:2012 1/:2012 2/
------------------------------------------------------------------------
                  :     :                    Dollars                    
                  :     :                                               
Beans, dry edible : Cwt : 34.10   49.70     (D)   28.60   42.20   46.20 
Corn              : Bu  :  5.85    5.97    6.00    5.65    6.07    6.16 
Hay, all          : Ton :101.00  103.00  106.00  116.00  172.00  176.00 
Oats              : Bu  :  3.79    4.12    4.30    3.27    3.56    3.66 
Potatoes          : Cwt : 11.90   12.30   12.70    9.26    9.23    9.22 
Soybeans          : Bu  : 12.30   11.70   12.10   12.70   11.90   12.30 
Wheat, winter     : Bu  :  6.84    6.62    6.40    7.03    6.57    6.49 
                  :     :                                               
Milk, all         : Cwt : 19.20   19.80   18.80   19.10   19.00   17.90 
------------------------------------------------------------------------
(D)  Withheld to avoid disclosing data for individual firms             
1/   Entire month weighted average price.                               
2/   Mid-month price.