nd-prices-economic NEWS RELEASE Agricultural Prices May 31, 2005 North Dakota Agricultural Prices The Index of Prices Received for All Farm Products in May is 114 percent of the 1990-1992 base, according to the North Dakota Agricultural Statistics Service. This is down 5 percent from last year but 11 percent above two years ago. The All Crops Index, at 104 percent of the base, is down 13 percent from May 2004 while the All Livestock Index, at 133 percent, is up 11 percent from last year. May indexes are calculated using preliminary mid-month prices. The April Index of Prices Received for All Farm Products, recalculated with full month prices, was 113 percent of the base, down 4 percent from April 2004. The All Crops Index, at 106 percent, was down 10 percent from the previous year while the All Livestock Index, at 131 percent, was up 12 percent. Preliminary May prices, followed by the change from April: Spring Wheat, $3.30 per bushel, up 8 cents; Durum Wheat, $3.50 per bushel, down 1 cent; Winter Wheat, $2.30 per bushel, up 8 cents; Feed Barley, $1.30 per bushel, down 3 cents; Malting Barley, $2.40 per bushel, up 6 cents; Corn, $1.80 per bushel, down 6 cents; Soybeans, $5.80 per bushel, down 7 cents; Flaxseed, $13.00 per bushel, up 70 cents; Oil Sunflower, $14.00 per hundredweight (cwt.), down 20 cents; Non-Oil Sunflower, $20.50 per cwt., down 60 cents; All Dry Edible Beans, $22.50 per cwt., down $1.40; All Potatoes, $6.05 per cwt., down 20 cents; Alfalfa Hay, $61.00 per ton, down $1.00; Other Hay, $46.00 per ton, unchanged; Steers and Heifers, $109.00 per cwt., up $1.00; Cows, $61.50 per cwt., up 50 cents; Calves, $139.00 per cwt., up $1.00. April whole month prices, with no preliminary May, followed by the change from March: Canola, $10.20 per cwt., up 43 cents; Navy Beans, $23.80 per cwt., down $2.10; Pinto Beans, $25.50 per cwt., down $2.60; Fresh Potatoes, $5.45 per cwt., unchanged; Potatoes for Processing, $6.00 per cwt., down 25 cents; Hogs, $53.30 per cwt., up 10 cents; Lambs, $113.00 per cwt., down $2.00; Sheep, $42.00 per cwt., down $1.00. May 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. April prices are based on sales data for the entire month. Index Numbers of Farm Prices, May 2005 Indexes North Dakota United States and May Apr May May Apr May Ratios 2004 2005 2005 2004 2005 2005 Prices Received (1990-92 = 100) All Farm Products 120 113 114 129 122 122 Crops 120 106 104 124 121 121 Food Grains 123 104 104 128 110 108 Feed Grains & Hay 116 91 89 127 95 97 Oil Bearing Crops 1/ 151 129 120 170 109 109 Potatoes & Dry Beans 2/ 90 95 94 111 111 117 Livestock 120 131 133 133 122 122 Meat Animals 116 131 134 121 126 126 Dairy Products 141 143 141 148 116 114 Other Livestock Products 3/ 113 113 113 141 121 122 Prices Paid --- --- --- 135 139 139 Ratio 4/ --- --- --- 96 88 88 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, May 2005 North Dakota Entire Month Preliminary May Apr May Item Unit 2004 2005 2005 - - - Dollars - - - Wheat, All Bu 3.96 3.28 3.33 Durum Bu 4.08 3.51 3.50 Other Spring Bu 3.94 3.22 3.30 Winter Bu --- 2.22 2.30 Corn Bu 2.77 1.86 1.80 Rye Bu --- --- --- Oats Bu 1.26 --- --- Barley, All Bu 2.50 1.96 2.02 Feed Bu 2.01 1.33 1.30 Malting Bu 2.88 2.34 2.40 Sunflower, All Cwt 13.70 16.10 16.00 Oil Cwt 12.60 14.20 14.00 Non-oil Cwt 16.60 21.10 20.50 Baled Hay, All 1/ Ton 55.00 58.00 57.00 Alfalfa 1/ Ton 61.00 62.00 61.00 Other 1/ Ton 45.00 46.00 46.00 Canola Cwt 13.20 10.20 --- Flaxseed Bu 7.11 12.30 13.00 Soybeans Bu 9.12 5.87 5.80 Dry Edible Beans, All Cwt 18.20 23.90 22.50 Navy Cwt 17.80 23.80 --- Pinto Cwt 18.10 25.50 --- Potatoes, All Cwt 5.60 6.25 6.05 Fresh 2/ Cwt 3.15 5.45 --- Processing Cwt 5.85 6.00 --- Beef Cattle Cwt 80.80 96.70 94.80 Steers & Heifers Cwt 100.00 108.00 109.00 Cows Cwt 55.90 61.00 61.50 Calves Cwt 115.00 138.00 139.00 Sheep Cwt 36.00 42.00 --- Lambs Cwt 100.00 113.00 --- Hogs Cwt 55.50 53.30 --- 1/ Alfalfa, other and all hay are preliminary prices only. 2/ Fresh market prices only, includes table stock. Prices Received by Farmers, May 2005 United States Effective Entire Month Preliminary U.S. Parity May Apr May Price Item Unit 2004 2005 2005 May 2005 - - - Dollars - - - - Dollars - Wheat, All Bu 3.82 3.35 3.28 10.30 Durum Bu 4.21 3.63 3.57 --- Other Spring Bu 4.01 3.39 3.52 --- Winter Bu 3.72 3.27 3.13 --- Corn Bu 2.87 2.00 1.92 6.91 Rye Bu --- --- --- 6.59 Oats Bu 1.70 1.65 1.58 4.10 Barley, All Bu 2.78 2.32 2.53 7.00 Feed Bu 2.39 1.54 1.91 --- Malting Bu 3.14 2.74 3.02 --- Sunflower, All Cwt 13.70 15.20 14.80 --- Oil Cwt --- --- --- --- Non-oil Cwt --- --- --- --- Baled Hay, All 1/ Ton 101.00 96.90 107.00 --- Alfalfa 1/ Ton 109.00 103.00 116.00 --- Other 1/ Ton 78.30 75.40 76.10 --- Canola Cwt --- --- --- --- Flaxseed Bu 7.10 12.30 13.00 14.00 Soybeans Bu 9.56 6.03 6.09 16.70 Dry Edible Beans, All Cwt 19.90 28.80 25.50 52.40 Navy Cwt --- --- --- --- Pinto Cwt --- --- --- --- Potatoes, All Cwt 6.47 6.17 6.71 15.60 Fresh 2/ Cwt 7.76 7.24 --- --- Processing Cwt 5.64 5.39 --- --- Beef Cattle Cwt 88.50 94.00 92.90 179.00 Steers & Heifers Cwt 92.60 98.30 96.90 --- Cows Cwt 52.50 57.10 58.70 --- Calves Cwt 121.00 140.00 141.00 243.00 Sheep Cwt 36.00 44.40 --- 87.70 Lambs Cwt 103.00 114.00 --- 217.00 Hogs Cwt 56.60 51.20 55.40 111.00 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/