October 31, 2007

WHEAT PRICES CONTINUE TO CLIMB

The Index of Prices Received by farmers and ranchers in Wyoming for agriculture commodities sold during October was 136 percent of the 1990-1992 base, according to Kim Faircloth with the Wyoming Field Office of USDA NASS. The index was down 7 points (5 percent) from September but up 10 points (8 percent) from October 2006. The seasonal changes in the mix of commodities farmers sell also affect the overall indexes.

The All Livestock Index, at 135, was down 7 points (5 percent) from September but up 10 points (8 percent) from October 2006. Prices for all livestock were down from last month except for sheep and lambs. Prices for all livestock were down from last year. Cow prices averaged $45.30 per hundredweight, down $3.70 from September and $1.80 below last year. Steer and heifer prices, at $111.00 per hundredweight, were down $2.00 from last month and down $1.00 from last year’s price. Calf prices averaged $129.00 per hundredweight, down $2.00 from last month and $3.00 lower than October 2006. Sheep prices, at $26.60, were $2.40 above September but $3.90 below last year’s price. Lamb prices, at $107.00, were up $6.00 from last month but $8.00 lower than last year at this time.

The All Crops Index, at 148, was up 1 point (1 percent) from September and up 16 points (12 percent) from last October. All crop prices were higher than both last month and last year with the exception of oats and alfalfa hay. Corn averaged $3.00 per bushel, up 50 cents from September and 51 cents above last year. Wheat averaged $7.10, up 22 cents from September and up $2.22 from last year. Dry beans averaged $27.00 per hundredweight in October, 40 cents above September and up $5.40 from last year. Alfalfa hay, down $10.00 from last month and up $2.00 per ton from last year, was $104.00 per ton. Other hay, at $110.00 per ton, was up $1.00 from last month and up $7.00 from last year.

United States: The preliminary All Farm Products Index of Prices Received by Farmers in October, at 142 percent, based on 1990-92=100, increased 1 point (0.7 percent) from September. The Crop Index is up 7 points (4.9 percent) but the Livestock Index decreased 7 points (5.0 percent). Producers received higher commodity prices for lettuce, wheat, soybeans, and tomatoes and lower prices were received for broilers, hogs, cattle, and eggs.

The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased average marketings of soybeans, corn, cotton, and grain sorghum offset decreased marketings of milk, wheat, grapes, and broilers.

The preliminary All Farm Products Index is up 27 points (23 percent) from October 2006. The Food Commodities Index, at 145, increased 1 point (0.7 percent) from last month and increased 29 points (25 percent) from October 2006.