nd-prices-economic NEWS RELEASE Agricultural Prices January 31, 2005 North Dakota Agricultural Prices The Index of Prices Received for All Farm Products in January is 116 percent of the 1990-1992 base, according to the North Dakota Agricultural Statistics Service. This is up 2 percent from last year and two years ago. The All Crops Index, at 111 percent of the base, is down 3 percent from January 2004 while the All Livestock Index, at 129 percent, is up 16 percent from last year. January indexes are calculated using preliminary mid-month prices. The December Index of Prices Received for All Farm Products, recalculated with full month prices, was 119 percent of the base, down 1 percent from December 2003. The All Crops Index, at 116 percent, was down 4 percent from the previous year while the All Livestock Index, at 129 percent, was up 11 percent. Preliminary January prices, followed by the change from December: Spring Wheat, $3.40 per bushel, up 13 cents; Durum Wheat, $3.45 per bushel, down 4 cents; Winter Wheat, $2.70 per bushel, up 8 cents; Feed Barley, $1.40 per bushel, down 5 cents; Malting Barley, $2.40 per bushel, down 3 cents; Corn, $1.70 per bushel, down 14 cents; Soybeans, $5.20 per bushel, down 30 cents; Flaxseed, $9.30 per bushel, up 88 cents; Oil Sunflower, $13.00 per hundredweight (cwt.), unchanged; Non-Oil Sunflower, $21.00 per cwt., up $2.70; All Dry Edible Beans, $26.50 per cwt., up 80 cents; All Potatoes, $6.05 per cwt., up 5 cents; Alfalfa Hay, $63.00 per ton, up $2.00; Other Hay, $46.00 per ton, up $1.00; Steers and Heifers, $110.00 per cwt., up $2.00; Cows, $51.00 per cwt., up $1.90; Calves, $122.00 per cwt., up $2.00. December whole month prices, with no preliminary January, followed by the change from November: Canola, $9.90 per cwt., down 50 cents; Navy Beans, $21.60 per cwt., up $1.10; Pinto Beans, $26.60 per cwt., down $1.70; Fresh Potatoes, $6.40 per cwt., up 25 cents; Potatoes for Processing, $5.70 per cwt., up 5 cents; Hogs, $52.90 per cwt., down $2.10; Lambs, $108.00 per cwt., up $1.00; Sheep, $40.00 per cwt., up $2.00. January prices are preliminary and based on sales data for only part of the month. They will be replaced with whole month prices in next month's report. December prices are based on sales data for the entire month. Index Numbers of Farm Prices, January 2005 Indexes North Dakota United States and Jan Dec Jan Jan Dec Jan Ratios 2004 2004 2005 2004 2004 2005 Prices Received (1990-92 = 100) All Farm Products 114 119 116 112 111 110 Crops 115 116 111 113 103 100 Food Grains 119 113 111 124 113 113 Feed Grains & Hay 109 104 94 105 93 90 Oil Bearing Crops 1/ 125 121 120 131 100 96 Potatoes & Dry Beans 2/ 97 123 113 97 100 101 Livestock 111 129 129 110 120 121 Meat Animals 113 136 133 104 118 120 Dairy Products 98 103 98 101 126 122 Other Livestock Products 3/ 99 99 99 133 118 122 Prices Paid --- --- --- 130 133 134 Ratio 4/ --- --- --- 86 83 82 1/ Includes non-oil sunflower. 2/ North Dakota includes sugarbeets. 3/ United States excludes wool. 4/ Ratio of Index of Prices Received to Index of Prices Paid. Prices Received by Farmers, January 2005 North Dakota Entire Month Preliminary Item Unit Jan Dec Jan 2004 2004 2005 - - - Dollars - - - Wheat, All Bu 3.64 3.29 3.39 Durum Bu 3.95 3.49 3.45 Other Spring Bu 3.59 3.27 3.40 Winter Bu 3.27 2.62 2.70 Corn Bu 2.19 1.84 1.70 Rye Bu 2.16 --- --- Oats Bu 1.33 1.27 1.15 Barley, All Bu 2.52 2.21 2.10 Feed Bu 1.91 1.45 1.40 Malting Bu 2.72 2.43 2.40 Sunflower, All Cwt 12.20 13.90 14.60 Oil Cwt 11.20 13.00 13.00 Non-oil Cwt 15.70 18.30 21.00 Baled Hay, All 1/ Ton 49.00 56.00 57.00 Alfalfa 1/ Ton 58.00 61.00 63.00 Other 1/ Ton 39.00 45.00 46.00 Canola Cwt 11.00 9.90 --- Flaxseed Bu 6.14 8.42 9.30 Soybeans Bu 6.70 5.50 5.20 Dry Edible Beans, All Cwt 15.20 25.70 26.50 Navy Cwt 15.80 21.60 --- Pinto Cwt 15.20 26.60 --- Potatoes, All Cwt 5.80 6.00 6.05 Fresh 2/ Cwt 5.40 6.40 --- Processing Cwt 5.90 5.70 --- Beef Cattle Cwt 86.90 98.60 104.00 Steers & Heifers Cwt 90.60 108.00 110.00 Cows Cwt 49.90 49.10 51.00 Calves Cwt 113.00 120.00 122.00 Sheep Cwt 43.00 40.00 --- Lambs Cwt 102.00 108.00 --- Hogs Cwt 39.50 52.90 --- 1/ Alfalfa, other and all hay are preliminary prices only. 2/ Fresh market prices only, includes table stock. Prices Received by Farmers, January 2005 United States Effective U.S. Entire Month Preliminary Parity Jan Dec Jan Price Item Unit 2004 2004 2005 Jan 2005 - - - - - Dollars - - - - - Wheat, All Bu 3.68 3.39 3.42 9.90 Durum Bu 3.96 3.57 3.54 --- Other Spring Bu 3.67 3.46 3.56 --- Winter Bu 3.66 3.34 3.31 --- Corn Bu 2.39 2.04 1.98 6.63 Rye Bu --- --- --- 6.22 Oats Bu 1.48 1.56 1.51 3.94 Barley, All Bu 2.69 2.47 2.37 6.72 Feed Bu 2.15 1.64 1.66 --- Malting Bu 2.94 2.73 2.70 --- Sunflower, All Cwt 12.10 13.50 13.80 --- Oil Cwt --- --- --- --- Non-oil Cwt --- --- --- --- Baled Hay, All 1/ Ton 80.10 84.30 84.20 --- Alfalfa 1/ Ton 84.80 92.40 90.90 --- Other 1/ Ton 70.20 67.10 70.60 --- Canola Cwt --- --- --- --- Flaxseed Bu 6.08 8.42 9.30 13.40 Soybeans Bu 7.35 5.45 5.32 16.00 Dry Edible Beans, All Cwt 17.20 26.70 27.00 50.30 Navy Cwt --- --- --- --- Pinto Cwt --- --- --- --- Potatoes, All Cwt 5.75 5.27 5.35 14.90 Fresh 2/ Cwt 6.20 5.52 --- --- Processing Cwt 5.36 5.09 --- --- Beef Cattle Cwt 80.90 86.80 89.10 172.00 Steers & Heifers Cwt 85.40 91.80 94.20 --- Cows Cwt 46.10 48.70 50.00 --- Calves Cwt 110.00 122.00 123.00 234.00 Sheep Cwt 43.80 44.80 --- 84.20 Lambs Cwt 104.00 102.00 --- 209.00 Hogs Cwt 36.80 52.30 53.00 106.00 1/ Alfalfa, other and all hay are preliminary prices only. 2/ Fresh market prices only, includes table stock. FOR MORE INFORMATION CONTACT: David Knopf, Director North Dakota Agricultural Statistics Service NDSU, IACC Bldg., Room 448 P.O. Box 3166 Fargo, ND 58108-3166 Telephone: (701) 239-5306 E-Mail: nass-nd@nass.usda.gov Internet: http://www.nass.usda.gov/nd/