Wisconsin Ag Connection - Corn, Soybean Prices Continue to Rise

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Corn, Soybean Prices Continue to Rise
Wisconsin Ag Connection - 03/02/2007

February marks the sixth consecutive month of increasing corn prices in Wisconsin. The state's agriculture department says the price farmers received for their corn averaged $3.30 as of mid-February, up 20 cents from January. This is the highest corn price the state's farmers have seen in over 10 years. The U.S. average price was $3.32, a 27 cent increase from January.

Wisconsin soybean prices jumped 65 cents to an average $6.75 per bushel in mid-February. The U.S. price for soybeans was $6.83 per bushel, a 45 cent increase from January.

Oats in Wisconsin sold for $1.90 in mid-February, 2 cents per bushel below January's average price. At the national level oats held steady at an average $2.19 per bushel.

Wisconsin's alfalfa hay sold for an average $60.00 per ton in mid-February, a $5.00 increase from January. Nationally, alfalfa hay prices increased an average of $2.00 to $117.00 per ton.

The Wisconsin all-potato price increased 20 cents per hundredweight (cwt.) in mid-February to $7.80. The U.S. average price increased 22 cents from January to $7.28 per cwt. Prices for cows, steers and heifers, and beef cattle in Wisconsin all rose in early February. As of the middle of the month the average cow price was up $4.50 per cwt. to $48.90. Steers and heifers sold for an average $82.90 per cwt., a $2.00 increase from January. Beef cattle prices rose to an average $63.20 per cwt., up $3.50 from the previous month.

At the U.S. level, cow prices were up $2.10 to $46.50 per cwt. Steer and heifer prices increased 90 cents to $90.70 per cwt., and beef cattle prices rose $1.50 per cwt. to an average $85.80. In Wisconsin calf prices were down $5.00 per cwt. in mid- February from the previous month. They sold for an average $140.00 per cwt. Nationally, average calf prices were unchanged at $115.00 per cwt.

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