16 September, 2005

USA: Index of farm prices remains constant during August

The Index of prices received for all Farm Products in August remained at 116 % of the 1990-1992 base, according to the report of Farm& Ranch guide of September 14.

This figure represents a decline of five % from last year's August preliminary prices and three percent below two years ago. The North Dakota Field Office of the USDA National Agricultural Statistics Service released the figures on August 31.

The All Crops Index of 117 % of the base represents a slide of five percent from August 2004 and the. The July Index of Prices Received for All Farm Products, recalculated with the full month prices stood at 112 % of the base, a decline of two percent from the June prices and down six percent from July 2004. The All Crops Index was also 112 %, the same as last month but down seven percent from July 2004.

With the exception of malting barley, small grain prices eroded while farmers were busy harvesting. Using mid-month preliminary figures, spring wheat fell by a dime to $3.25 a bushel, durum wheat declined by eight cents to $3.40 and winter wheat was listed at $2.53, a decline of a penny. Feed barley was down seven cents to $1.30 a bushel, but malting barley climbed three cents to $2.20.

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