Market year average price for all wheat, barley and oats hit a new record high
February 27, 2008
The value of all crops produced in Wyoming in 2007 is estimated at $375.9 million, according to Nancy Hussey with the Wyoming Field Office of USDA NASS. The total value is up 19 percent from 2006 and up 38 percent from 2005. Market year average prices were higher for corn, oats, barley, winter wheat, spring wheat, all wheat, alfalfa hay, other hay, all hay, dry beans and sugarbeets. Value of production increased from 2006 for corn for grain, barley, all wheat, winter wheat, spring wheat, all hay, alfalfa hay, other hay, dry edible beans and sugarbeets, but was lower for oats.
The leading crop in value continues to be hay. The 2007 all hay production is valued at $261.7 million, up 22 percent from 2006. Hay prices averaged $110 a ton, up $9 from the 2006 crop. All hay accounted for 70 percent of the total crop value. Sugarbeets followed hay in value with beets estimated at $37.3 million, based on 2006 production and 2006 prices pending calculation of 2007 prices.
Other significant crops, their 2007 value, and the change in value from 2006 are: barley $17.2 million, up seven percent as an increase in price more than offset a lower production; corn for grain $27.9 million, up 82 percent as an increase in price and production; all wheat $21.4 million, up 22 percent as a $1.87 per bushel increase in price more than offset a 11 percent lower production, and dry beans $14.9 million, up 15 percent as a $4.90 per cwt increase in price more than offset a six percent decline in production.
These estimates do not include any payments from government programs. Preliminary market year average prices except for sugarbeets are based on monthly prices through December 2007 with allowance for projected prices the remainder of the marketing year.