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Text: USDA Farm Prices Rcvd Down 4.3% in February

WASHINGTON (MNI) - The following is the text of the Farm Prices Received report for February issued by the U.S. Department of Agriculture Friday:

The preliminary All Farm Products Index of Prices Received by Farmers in February, at 133 percent, based on 1990-92=100, decreased 6 points (4.3 percent) from January. The Crop Index is down 7 points (4.6 percent) but the Livestock Index was unchanged. Producers received lower prices for corn, soybeans, lettuce, and eggs and higher prices for cattle, oranges, onions, and sweet corn. 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 marketings of milk, cattle, broilers, and strawberries offset decreased marketings of corn, soybeans, wheat, and cotton.

The preliminary All Farm Products Index is up 7 points (5.6 percent) from February 2009. The Food Commodities Index, at 132, decreased 6 points (4.3 percent) from last month but increased 10 points (8.2 percent) from February 2009.

Prices Paid Index Up 1 Point

The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 185 percent of the 1990-92 average. The index is up 1 point (0.5 percent) from January and 6 points (3.4 percent) above February 2009. Higher prices for complete feeds, nitrogen, feeder cattle, and feeder pigs more than offset lower prices in February for diesel, feed grains, mixed fertilizer, and concentrates.

Prices Received by Farmers

The February All Farm Products Index is 133 percent of its 1990-92 base, down 4.3 percent from the January index but 5.6 percent above the February 2009 index.

ALL CROPS: The February index is 145, down 4.6 percent from January and 0.7 percent below February 2009. Index decreases for feed grains & hay, oil- bearing crops, commercial vegetables, food grains, and potatoes & dry beans more than offset the index increases for fruits & nuts and cotton.

Food Grains: The February index, at 171, is 1.7 percent below the previous month and 17 percent below a year ago. The February all wheat price, at $4.67 per bushel, is down 25 cents from January and $1.12 below February 2009.

Feed Grains & Hay: The February index is 149, down 5.7 percent from last month and 12 percent below a year ago. The corn price, at $3.45 per bushel, is down 21 cents from last month and 42 cents below February 2009. The all hay price, at $107.00 per ton, is down $2.00 from January and $24.00 from last February. Sorghum grain, at $5.42 per cwt, is 42 cents below January but 38 cents above February last year.

Cotton: The February index, at 102, is up 2.0 percent from January and 50 percent above last year. The February price, at 61.7 cents per pound, is up 1.1 cents from the previous month and 20.5 cents above last February.

Oil-Bearing Crops: The February index, at 167, is down 4.0 percent from January and 2.9 percent lower than February 2009. The soybean price, at $9.40 per bushel, decreased 39 cents from January and is 14 cents below February 2009.

Fruits & Nuts: The February index, at 143, is up 5.1 percent from January and 18 percent higher than a year ago. The price increase for oranges more than offset price decreases for strawberries, grapefruit, lemons, and pears.

Commercial Vegetables: The February index, at 144, is down 8.3 percent from last month but 3.6 percent above February 2009. Price declines for lettuce, celery, broccoli, and cauliflower more than offset price increases during February for onions, tomatoes, sweet corn, and carrots.

Potatoes & Dry Beans: The February index, at 129, is down 1.5 percent from last month and 16 percent below February 2009. The all potato price, at $6.99 per cwt, is down 18 cents from January and $1.88 from last February. The all dry bean price, at $33.80 per cwt, is up $3.10 from the previous month and $3.70 above February 2009.

LIVESTOCK & PRODUCTS: The February index, at 122, is unchanged from last month but up 12 percent from February 2009. Compared with a year ago, prices are higher for milk, cattle, hogs, eggs, calves, and turkeys. The price for broilers is unchanged from last year.

Meat Animals: The February index, at 112, is up 1.8 percent from last month and 6.7 percent higher than last year. The February hog price, at $48.10 per cwt, is down 30 cents from January but $4.30 higher than a year ago. The February beef cattle price of $84.40 per cwt is up $2.30 from last month and $5.50 higher than February 2009.

Dairy Products: The February index, at 122, is down 0.8 percent from a month ago but 37 percent higher than February last year. The February all milk price of $15.90 per cwt is 20 cents lower than last month but $4.30 higher than February 2009. The fluid grade milk price is down 20 cents from last month but the manufacturing grade milk price increased 30 cents from the previous month.

Poultry & Eggs: The February index, at 144, is down 4.0 percent from January but 2.1 percent above a year ago. The February market egg price, at 77.5 cents per dozen, decreased 13.0 cents from January but is 13.6 cents above February 2009. The February broiler price, at 47.0 cents per pound, is down 1.0 cent from January but unchanged from a year ago. The February turkey price, at 48.3 cents per pound, is up 1.8 cents from the previous month and from a year earlier.

** Market News International Washington Bureau: 202-371-2121 **