OMAHA (DTN) -- Retail fertilizer prices continued to increase the third week of February 2017, according to retail data tracked by DTN. This marks the fourth week in a row prices have moved higher.
Seven of the eight major fertilizers were higher compared to a month earlier with four higher by a considerable amount.
UAN28 was 8% higher compared to last month while UAN32 was 7% more expensive, urea was 6% higher and anhydrous up 5%. UAN28 had an average price of $240/ton, UAN32 $276/ton, urea $357/ton and anhydrous $491/ton.
Three fertilizers were slightly higher than the previous month. MAP had an average price of $450/ton, potash $332/ton and 10-34-0 $440/ton.
DAP prices actually fell slightly for the month, with an average price of $432/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 $0.43/lb.N and UAN32 $0.43/lb.N.
As retail fertilizer prices continue to move higher, farmers who already pre-purchased at least some of their fertilizer needs look to have made a smart business decision.
Jamin Ringger, a hog and corn and soybean farmer from Gridley, Illinois, said he bought about half of his UAN28 needs in August 2016. In addition, he also bought phosphorus and potash, which he applied last fall.
"I'm waiting on the rest of UAN28 hoping for another pull back, and I will fill up for the side-dressing season," Ringger told DTN.
Being a hog producer, Ringger utilizes manure as another source of fertilizer on his crop acres. The manure is tested for the amount of N, P and K available, with different hog manures (sow manure vs. finishing manure) having different nutrient amounts.
On farms that see a manure application, Ringger said he will pull soil samples for nitrogen to see how much is available in the soil. Then he will apply commercial nitrogen if it is needed, usually around 15 to 30 gallons per acre, he said.
"On non-manure ground, we apply 40 gallons (per acre) on pre-plant, then 20 gallons (per acre) at V6 for corn following soybeans," he said.
Retail fertilizers are lower compared to a year earlier. Five of the eight major fertilizer are double digits lower.
10-34-0 is 23% lower from a year ago while potash is 12% less expensive and anhydrous is 11% lower. Both DAP and MAP are 10% less expensive compared to year earlier.
UAN32 is now 9% lower, UAN28 is now 8% less expensive and urea is 3% lower 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 15-19 2016||477||496||375||370|
|Mar 14-18 2016||477||499||369||390|
|Apr 11-15 2016||480||504||367||388|
|May 9-13 2016||476||502||366||385|
|June 6-10 2016||470||498||359||370|
|July 4-8 2016||469||496||359||361|
|Aug 1-5 2016||459||488||346||349|
|Aug 29-Sept 2 2016||449||464||327||326|
|Sept 26-30 2016||440||458||317||322|
|Oct 24-28 2016||436||451||313||317|
|Nov 21-25 2016||436||445||316||328|
|Dec 19-23 2016||432||437||321||336|
|Jan 16-20 2017||430||443||324||346|
|Feb 13-17 2017||431||448||330||354|
|Feb 15-19 2016||565||538||259||309|
|Mar 14-18 2016||560||566||276||312|
|Apr 11-15 2016||560||587||273||318|
|May 9-13 2016||561||588||274||321|
|June 6-10 2016||556||569||267||310|
|July 4-8 2016||546||554||261||304|
|Aug 1-5 2016||548||552||254||307|
|Aug 29-Sept 2 2016||493||509||233||275|
|Sept 26-30 2016||465||486||223||271|
|Oct 24-28 2016||452||472||224||262|
|Nov 21-25 2016||445||465||218||256|
|Dec 19-23 2016||442||468||217||255|
|Jan 16-20 2017||437||478||235||267|
|Feb 13-17 2017||440||485||238||273|
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