Peanut prices received by farmers for all farmer stock peanuts averaged 19.5 cents per pound for the week ending Sept. 18, up 0.1 cent from the previous week.
Marketings of all farmer stock peanuts for the week ending Sept. 18 totaled 17.6 million pounds, up 6.39 million pounds from the previous week.
Runner-type peanut prices averaged 17.4 cents per pound for the week ending Sept. 18. Marketings of Runner-type peanuts totaled 10.5 million pounds.
Survey Procedures: Price and marketing information included in this report is provided the beginning of each week by first buyers of farmer stock peanuts. Each week, respondents are asked to report total pounds purchased (marketings) from farmers and total dollars paid, by type (Runners, Spanish, Valencias, and Virginias), for the previous week. The reported data are to include all qualities and grades and exclude peanuts used for seed.
Data are collected by telephone, fax, and Internet each week for the previous week. The peanut price survey is an enumeration of all known first buyers of farmer stock peanuts from growers. Every effort is made to obtain a report from all buyers.
Estimating Procedures: Since a complete report is not received from all buyers each week, the reported quantities purchased and total dollars paid for each type are expanded to account for non-response. These expanded data are then used to calculate the weighted average price for each type.
Estimates of price and marketings are prepared by the Agricultural Statistics Board and reviewed for reasonableness with recent historic estimates and between the different peanut types.
Revision Policy: Price and marketing estimates for the prior three weeks are subject to revision based on late reports. At the end of the marketing year, all buyers will have an opportunity to update or provide any late data for any week during the marketing year. After this data is incorporated with previously reported data, revised weekly estimates will be published for the entire marketing year.
Reliability: The peanut price survey is subject to non-sampling errors such as omission, duplication, imputation for missing data, and mistakes in reporting, recording, and processing the data. These errors cannot be measured directly, but are minimized through rigid quality controls in the data collection process and a careful review of all reported data for consistency and reasonableness.
To view the full report, visit http://usda.mannlib.cornell.edu/usda/current/PeanPrice/PeanPrice-09-24-2010.txt.