OMAHA (DTN) -- Retail fertilizer prices continue to climb higher, with the average retail prices of all eight major fertilizers increasing significantly in the third week of February from the month prior.
It's the third week in a row all prices have climbed by 5% or more, the level which DTN designates as significant.
DAP led the way higher once again. The fertilizer is 22% higher compared to last month, with an average price of $600 per ton. The last time DAP prices moved above the $600/ton level was the fourth week of December 2013. The fertilizer had an average price of $602/ton that week.
Urea is 18% more expensive compared to last month. The nitrogen fertilizer had an average price of $457/ton, up $70.
Both MAP and UAN32 were up 15% compared to the prior month. MAP had an average price of $648/ton, up $85, while UAN32 was at $288/ton, up $37.
UAN28 was 14% more expensive when looking back to last month. The liquid fertilizer had an average price of $245/ton, up $30.
Anhydrous was 10% higher while 10-34-0 was up 9% and potash was 7% more expensive. Anhydrous had an average price of $530/ton, up $48; 10-34-0 $522/ton, up $41; and potash $404/ton, up $25.
Potash prices crossed above $400/ton for the first time since the third week of December 2015. The average price at that time was $408/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.50/lb.N, up 1 cent from last month; anhydrous $0.32/lb.N, unchanged; UAN28 $0.44/lb.N, up 1 cent; and UAN32 $0.45/lb.N, unchanged.
The severe winter weather which affected most of the country last week could have a lasting effect on retail fertilizer prices. Fertilizer companies reported issues maintaining production last week.
Nitrogen fertilizer manufacturer CF Industries reported its Oklahoma plants were most affected by the cold weather last week, according to a Dow Jones report last Thursday. This could likely lead to tightening supplies of nitrogen fertilizer in the coming weeks and months, totaling hundreds of thousands of tons of nitrogen fertilizer.
"The tightening of North American supply could be noticeable," CF Industries CEO Tony Will said.
CF was not the only fertilizer company seeing fertilizer production suffer last week because of the cold weather. Dow Jones reported last Thursday as well that Mosaic may have had to shut down a Louisiana fertilizer plant for a few days due to issues with freezing.
Mosaic CEO Joc O'Rourke said in addition to the Louisiana plant issues, the company has also seen the movement and unloading of the company's ships in the Gulf of Mexico affected by the cold conditions. The company is well equipped to deal with extreme weather events, compared to the slowdowns forced by annual hurricanes in the Gulf region, O'Rourke said.
With retail fertilizer prices moving higher over recent months, all fertilizers are now higher in price from a year ago.
Both UAN28 and UAN32 are now 4% more expensive, both potash and anhydrous are 8% higher, 10-34-0 is 13% more expensive, urea is 27% higher, DAP is 46% more expensive and MAP is 49% higher compared to 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.
|Feb 17-21 2020||410||435||373||361|
|Mar 16-20 2020||408||433||370||382|
|Apr 13-17 2020||410||433||370||384|
|May 11-15 2020||413||433||370||388|
|Jun 8-12 2020||406||430||363||367|
|Jul 6-10 2020||405||427||360||360|
|Aug 3-7 2020||416||430||357||354|
|Aug 31-Sep 4 2020||431||442||348||361|
|Sep 28-Oct 2 2020||439||459||338||362|
|Oct 26-30 2020||448||477||332||358|
|Nov 23-27 2020||456||495||337||359|
|Dec 21-25 2020||474||535||365||363|
|Jan 18-22 2021||493||563||379||387|
|Feb 15-19 2021||600||648||404||457|
|Feb 17-21 2020||464||490||235||277|
|Mar 16-20 2020||466||491||235||278|
|Apr 13-17 2020||468||492||236||279|
|May 11-15 2020||468||492||237||280|
|Jun 8-12 2020||468||472||235||276|
|Jul 6-10 2020||467||461||233||272|
|Aug 3-7 2020||465||455||222||262|
|Aug 31-Sep 4 2020||459||436||216||254|
|Sep 28-Oct 2 2020||457||424||212||250|
|Oct 26-30 2020||456||423||209||249|
|Nov 23-27 2020||457||424||210||249|
|Dec 21-25 2020||463||461||210||250|
|Jan 18-22 2021||481||482||215||251|
|Feb 15-19 2021||522||530||245||288|
Russ Quinn can be reached at email@example.com
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