Market News

Farmers gained a little financial ground in April

The preliminary All Farm Products Index of Prices Received by Farmers in April increased 4% fromMarch. The National Ag Statistics Service says the Crop Index was 6.2% higher while the Livestock Index increased 2.8%.

For crops, the average price received for corn in April was $3.87 per bushel, up a penny from March. Soybeans were 77 cents higher averaging $9.89 perbushel while the all-wheat price was a penny lower at $5.69 per bushel. All hay held steady from March at $129 per ton, alfalfa hay declined $4.00 to $133 per ton.

On the livestock side, the April hog price averaged $43.40 per hundredweight, down 40 cents from March. Beefcattle were $3.80 higher at $82.80. Broiler prices were unchanged at 45 cents per pound while turkeys were .1 cent higher at 47.2 cents per pound. Egg prices increased 12.8 cents to average 77.1 cents per dozen in April.

The April Index of Prices Received by Farmers showsmilk prices in April were 2.2% higher than in March but 33% lower than April of last year. The April all-milk price was $12.00, up 20 cents from March and $6.00 below April, 2008. Fluid grade milk price increased 30 cents per hundredweight while manufacturing grade increased 20 cents. Themilk-to-feed price ratio for April ends up at 1.59, an ever-so-slight improvement from the 1.57 of March. The MILC payment for March production will be $2.01 per cwt.

The April Index of Prices Paid by Farmers was unchanged from March. Higher prices for feeder cattle,nitrogen, forages, diesel and gasoline were offset by lower prices for mixed fertilizer, feed supplements, concentrates, complete feeds and dairy cows.

Compared to a year ago, farmers paid .6% more for products in April of this year but the prices received were 10% lowerthan in 2008.