OMAHA (DTN) -- Retail fertilizer prices tracked by DTN for second week of February 2017 continue to show higher retail prices. This marks the third week in a row some nutrients have made significant jumps as demand builds with southern regions beginning to make applications and plant first seeds of 2017.
All fertilizers tracked by DTN, except DAP, moved higher, with three products higher by a considerable amount.
UAN28 was 7% higher compared to a month earlier, while UAN32 was 6% more expensive and urea was 5% higher. UAN28 had an average price of $238/ton, UAN32 $273/ton and urea $354/ton.
Four fertilizers were slightly higher than the month previous. MAP had an average price of $448/ton, potash $330/ton, 10-34-0 $440/ton and anhydrous $485/ton.
DAP had an average price of $431/ton, slightly lower than the second week of January.
On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.30/lb.N, UAN28 $0.42/lb.N and UAN32 $0.43/lb.N.
Despite the recent higher retail fertilizer prices, fertilizer companies have struggled in the midst of lowering global prices of fertilizer in recent years. One such company is Agrium, which agreed to merge with Potash Corp. of Saskatchewan Inc.
Fourth-quarter profit dropped two-thirds to $67 million, or 49 cents a share, according to a Dow Jones article on the merger. Excluding stock-based compensation and other items, profit fell to 60 cents a share from $1.52 a share a year earlier, the article said.
Agrium blamed the lower earnings on the slumping world fertilizer prices. Potash prices fell 33% internationally and 25% in North America, the company stated.
One bright spot for the company was its sales, as overall sales rose 5.3% to $2.28 billion based on higher crop-protection product movement which made up for lower fertilizer prices. Analysts had projected 68 cents a share on $2.18 billion in revenue.
Dow Jones reported Agrium is expected to make $4.50 to $6 a share this year, compared to $4.29 a share it made in 2016.
Last month, Potash Corp reported a 71% drop in fourth quarter profit and a 22% decline in fertilizer sales. The company blamed the drop in global fertilizer prices which out weighted higher volumes.
Retail fertilizers are lower compared to a year earlier. Six of the eight major fertilizer are double digits lower.
10-34-0 is 23% lower from a year ago while potash is 13% less expensive, anhydrous is 12% lower. DAP, MAP and UAN32 are all 10% compared to year earlier.
UAN28 is now 9% lower while urea is 4% less expensive compared to last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
DTN's average of retail fertilizer prices from a month earlier ($ per ton):
|Feb 8-12 2016||479||499||378||369|
|Mar 7-11 2016||477||494||372||378|
|Apr 4-8 2016||480||504||369||387|
|May 2-6 2016||475||502||366||385|
|May 30-June 3 2016||473||499||363||375|
|June 27-July 1 2016||468||495||358||365|
|July 25-29 2016||459||492||356||356|
|Aug 22-26 2016||451||468||330||330|
|Sept 19-23 2016||443||453||319||323|
|Oct 17-21 2016||436||452||313||317|
|Nov 14-18 2016||436||445||315||327|
|Dec 12-16 2016||433||443||320||333|
|Jan 9-13 2017||432||441||320||338|
|Feb 6-10 2017||431||448||330||354|
|Feb 8-12 2016||569||551||261||303|
|Mar 7-11 2016||562||541||262||312|
|Apr 4-8 2016||561||586||272||315|
|May 2-6 2016||560||589||274||321|
|May 30-June 3 2016||559||579||268||313|
|June 27-July 1 2016||554||566||266||304|
|July 25-29 2016||543||545||257||304|
|Aug 22-26 2016||502||515||234||280|
|Sept 19-23 2016||470||494||225||271|
|Oct 17-21 2016||453||475||224||265|
|Nov 14-18 2016||445||466||219||256|
|Dec 12-16 2016||444||463||219||257|
|Jan 9-13 2017||437||467||222||258|
|Feb 6-10 2017||440||485||238||273|
Russ Quinn can be reached at email@example.com
Follow Russ Quinn on Twitter @russquinnDTN
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.