OMAHA (DTN) -- Average retail fertilizer prices continued to inch higher the second week of February 2018, according to retailers surveyed by DTN.
After several weeks of one fertilizer -- potash -- being slightly lower, prices for all eight major fertilizers were higher compared to a month earlier, though none were up by a significant amount.
DAP had an average price of $457 per ton, MAP $495/ton, potash $345/ton, urea $357/ton, 10-34-0 $415/ton, anhydrous $492/ton, UAN28 $230/ton and UAN32 $264/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.41/lb.N and UAN32 $0.41/lb.N.
Fertilizer manufacturers are seeing swings in profits thanks to changes to U.S. tax laws as well as improving sales and prices, according to Dow Jones news service.
CF Industries posted earnings of $465 million in the fourth quarter of 2017, up from a $320 million loss last year, Dow Jones reported recently. The company's performance included a one-time benefit from the nation's new tax law to the tune of $491 million.
Despite the positive quarter for the company, more consolidation is expected to come in the fertilizer sector in the near future, according to CF Industries CEO Tony Will, Dow Jones reported.
"Ongoing consolidation is inevitable," Will said during CF's fourth quarter earnings call, according to Dow Jones.
Will also said the company is working toward a "sustainable amount of leverage, and at that point, it will be open to deals, including companies outside the U.S.
CF will target places it can operate "in ways that are in keeping with our culture and the strict interpretation of the law," he said, according to Dow Jones.
Four fertilizers are now higher compared to last year with prices pushing higher in recent months. Anhydrous is 1% higher, potash is 4% higher, DAP is 6% higher and MAP is 10% higher than last year.
The remaining four fertilizers are still lower in price compared to last year. Urea is 1% less expensive, while both UAN28 and UAN32 are 4% lower, and 10-34-0 is 6% less expensive than last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|Feb 13-17 2017||432||450||332||357|
|Mar 13-17 2017||443||462||337||360|
|Apr 10-13 2017||437||466||338||353|
|May 8-12 2017||437||466||340||351|
|Jun 5-9 2017||438||469||339||338|
|Jul 3-7 2017||436||467||339||325|
|Jul 31-Aug 4 2017||434||463||339||311|
|Aug 28-Sept 1 2017||433||457||338||303|
|Sep 15-29 2017||432||453||348||321|
|Oct 23-27 2017||431||453||347||325|
|Nov 20-24 2017||435||460||342||338|
|Dec 18-22 2017||445||485||344||348|
|Jan 15-19 2018||456||491||345||355|
|Feb 12-16 2018||457||495||345||357|
|Feb 13-17 2017||440||491||240||276|
|Mar 13-17 2017||441||507||247||280|
|Apr 10-13 2017||441||505||247||280|
|May 8-12 2017||437||508||247||280|
|Jun 5-9 2017||435||503||246||278|
|Jul 3-7 2017||432||462||236||268|
|Jul 31-Aug 4 2017||426||418||227||262|
|Aug 28-Sept 1 2017||418||417||215||248|
|Sep 15-29 2017||413||396||208||243|
|Oct 23-27 2017||407||393||205||262|
|Nov 20-24 2017||403||410||216||272|
|Dec 18-22 2017||405||461||218||254|
|Jan 15-19 2018||407||485||226||260|
|Feb 12-16 2018||415||492||230||264|
Russ Quinn can be reached at email@example.com
Follow Russ Quinn on Twitter @RussQuinnDTN
Copyright 2018 DTN/The Progressive Farmer. All rights reserved.