Title

Plotting a Course – Planning Prices 2026

(EC1090)

File

Publication File:

EC1090 Plotting a Course 2026

Summary

Short-term and long-term agricultural planning prices for North Dakota 2026.

Lead Author

Lead Author:

Ron Haugen, Farm Management Specialist

Other Authors

Tim Petry, Livestock Economist
Frayne Olson, Crops Economist

Availability

Availability:

Available in print from the 线上赌博app Distribution Center.

Contact your county 线上赌博app Extension office to request a printed copy.
线上赌博app staff can order copies online (login required).

Publication Sections

Introduction

Historic and Projected Planning Prices for North Dakota

Crops

Beef

Hogs, Sheep, Milk

Introduction

Planning for the future can be a very frustrating process but one that typically pays high dividends. For most farm and ranch managers, developing realistic commodity price expectations is one of the most difficult and complex tasks of the planning process. To ease the burden of forecasting planning prices, 线上赌博app Extension has prepared a summary of projected short- and long-term planning prices.

The estimated short-term planning prices should be used as a guide in setting price expectations for 2026 production. These planning prices can be used for preparing annual enterprise budgets and annual whole-farm cash-flow projections.

The short-term planning prices should not be used for planning capital purchases or expansion alternatives that extend beyond the next production year. Unfortunately, the use of short-term planning prices to make long-term decisions is common. This practice is not recommended because current supply/demand conditions rarely continue for long periods of time and are a poor indicator of future trends.

The long-term planning prices are valuable for evaluating alternative plans that affect the farm or ranch business for more than one year. Both individual yearly price forecasts and long-term average prices are presented.

The long-term crop planning prices were derived from annual average price forecasts made by the Food and Agricultural Policy Research Institute (FAPRI). The U.S. price estimates reported in the 2025 Baseline Briefing Paper, November 2025, were adjusted using historical relationships to reflect North Dakota farm gate prices.

Historical prices are reported for reference. This information can be a valuable reminder of past price fluctuations and trends. Prices for 2025 are averages to date.

The historical crop prices were obtained from the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) “North Dakota Agriculture,” Ag Statistics No. 94, August 2025. Historical milk prices are from FAPRI. Historical feeder steer prices are from the USDA Agricultural Marketing Service (AMS) for Kist Livestock Auction, Mandan, N.D. Historical slaughter steer, cull cow, hog and sheep prices are from NASS and AMS.

Historic and Projected Planning Prices for North Dakota

Marketing Year	Spring Wheat	Durum Wheat	Oats	Feed Barley	Malting Barley	Oil Sunflower	Non-oil Sunflower	Corn	Soybeans	Canola	Flaxseed	Winter Wheat	Dry Beans	Dry Peas	Lentils	Alfafa Hay	Other Hay
	(bu)	(bu)	(bu)	(bu)	(bu)	(cwt)	(cwt)	(bu)	(bu)	(cwt)	(bu)	(bu)	(cwt)	(cwt)	(cwt)	(ton)	(ton)
2020-21	5.11	5.98	2.54	3.51	4.76	20.50	26.50	4.44	10.20	18.50	11.10	4.82	28.90	10.60	18.20	89.00	71.00
2021-22	8.82	13.90	4.80	5.44	5.35	32.40	33.40	5.86	12.60	33.40	25.90	8.27	41.00	19.90	37.60	172.00	113.00
2022-23	8.74	9.81	4.38	6.15	7.71	27.10	38.60	6.16	13.70	29.90	17.50	8.66	37.90	17.00	32.80	130.00	88.00
2023-24	6.97	9.38	3.99	5.04	7.49	19.90	32.60	4.14	12.00	24.40	12.10	6.63	38.60	15.50	38.00	120.00	88.00
2024-25	5.55	6.82	3.43	3.87	6.65	22.60	26.60	3.96	9.53	20.30	12.50	5.18	32.10	13.70	34.40	95.00	79.00
Historic avg. (2020-2024)	7.04	9.18	3.83	4.80	6.39	24.50	31.54	4.91	11.61	25.30	15.82	6.71	35.70	15.34	32.20	121.20	87.80
2025-26 (to date)*	5.04	6.17	3.19	4.22	5.17	N.A.	N.A.	3.71	9.44	20.00	13.31	4.57	24.68	N.A.	N.A.	91.64	68.50
2026-27 short-term	5.75	6.75	2.50	3.00	5.00	21.00	28.00	3.75	9.75	20.00	13.50	5.00	27.00	11.67	19.00	95.00	70.00
2027-28	5.88	6.89	2.73	3.50	6.13	20.75	28.22	3.93	10.11	19.58	11.92	5.15	30.33	12.13	24.14	97.00	75.00
2028-29	5.85	6.85	2.71	3.47	6.07	20.61	28.03	3.89	10.04	19.45	11.84	5.12	30.12	12.05	23.98	110.00	85.00
2029-30	5.79	6.78	2.65	3.40	5.95	20.28	27.58	3.82	9.88	19.13	11.65	5.07	29.64	11.86	23.60	120.00	95.00
2030-31	5.73	6.72	2.63	3.37	5.90	20.13	27.38	3.78	9.81	18.99	11.56	5.02	29.43	11.77	23.42	125.00	100.00
2031-32	5.71	6.69	2.63	3.37	5.90	20.33	27.65	3.78	9.91	19.19	11.68	5.00	29.73	11.89	23.66	120.00	95.00
Projected long-term avg. (2027-2031)	5.791	6.792	2.673	3.424	5.995	20.426	27.777	3.848	9.959	19.2710	11.7311	5.0712	29.8513	11.9414	23.7615	114.40	90.00

* average of beginning of marketing year to December 2025

Note: FAPRI projections are updated in January 2026

1 Spring wheat price is calculated based on the historical relationship: N.D. spring wheat = U.S. wheat x 1.05

2 Durum price is calculated based on the historical relationship: N.D. durum = U.S. spring wheat x 1.23

3 Oats price is calculated based on the historical relationship: N.D. oats = N.D. feed barley x 0.78

4 Feed barley price is calculated based on the historical relationship: N.D. feed barley = U.S. corn x 0.82

5 Malting barley price is calculated based on the historical relationship: N.D. malting barley = N.D. feed barley x 1.75

6 Oil sunflower price is calculated based on the historical relationship: N.D. oil sunflower = U.S. soybean x 1.95

7 Non-oil sunflower price is calculated based on the historical relationship: N.D. non-oil sunflower = N.D. oil sunflower x 1.36

8 Corn price is calculated based on the historical relationship: N.D. corn = U.S. corn x 0.92

9 Soybean price is calculated based on the historical relationship: N.D. soybean = U.S. soybean x 0.95

10 Canola price is calculated based on the historical relationship: N.D. canola = U.S. soybean x 1.84

11 Flaxseed price is calculated based on the historical relationship: N.D. flaxseed = U.S. soybean x 1.12

12 Winter wheat price is calculated based on the historical relationship: N.D. winter wheat = U.S. wheat x 0.92

13 Dry bean price is calculated based on the historical relationship: N.D. dry bean = N.D. soybean x 3.0

14 Dry pea price is calculated based on the historical relationship: N.D. dry pea = N.D. soybean x 1.20

15 Lentil price is calculated based on the historical relationship: N.D. lentil = N.D. dry pea x 1.99

Year*	400-500 lb. Steers	500-600 lb. Steers	600-700 lb. Steers	700-800 lb. Steers	800-900 lb. Steers	1,100-1,700 lb. Cull Cows	5-Area Direct Slaughter Steers
	(cwt) Fourth quarter prices	(cwt) Fourth quarter prices	(cwt) Fourth quarter prices	(cwt) First quarter prices	(cwt) First quarter prices	(cwt) Annual prices	(cwt) Annual prices
2020	170.96	155.85	147.04	140.90	132.60	64.20	108.51
2021	192.30	173.62	163.51	165.69	155.56	70.20	123.17
2022	227.27	204.74	190.84	191.17	179.80	80.70	144.40
2023	310.83	278.14	259.34	259.50	235.60	99.00	175.53
2024	359.82	319.50	286.10	296.41	274.86	126.00	187.12
Historic avg. (2020-2024)	252.24	226.37	209.37	296.41	195.68	88.02	147.75
2025 (to date)	512.72	450.41	400.79	366.00**	351.00**	147.00	224.50
2026 short-term	450.00	395.00	360.00	340.00**	325.00**	155.00	235.00
2027	445.00	390.00	355.00	335.00**	320.00**	155.00	230.00
2028	435.00	380.00	345.00	325.00**	310.00**	150.00	220.00
2029	425.00	370.00	335.00	315.00**	300.00**	145.00	210.00
2030	415.00	360.00	325.00	305.00**	290.00**	140.00	200.00
2031	415.00	360.00	325.00	305.00**	290.00**	140.00	200.00
Projected long-term avg. (2027-2031)	427.00	372.00	337.00	317.00	302.00	146.00	212.00

* 400-500, 500-600 and 600-700 lb. weights are fourth quarter prices. 700-800 and 800-900 lb. weights are first quarter prices of the next year.

To estimate heifer prices for 400-500 lb. and 500-600 lb. subtract $30/cwt., for 600-700 lb. and 700-800 lb. subtract $20/cwt., and for 800-900 lb. subtract $10/cwt. from steer prices.

Cull cow and slaughter steer prices are calendar year averages.

** Projected for the first quarter of the next year.

Year	250 lb. Slaughter Hogs	Slaughter Ewes	105-140 lb. Slaughter Lambs	60-90 lb. Feeder Lambs	All Milk
	(cwt)	(cwt)	(cwt)	(cwt)	(cwt)
2020	44.80	62.00	144.00	189.00	19.90
2021	64.40	98.00	220.00	268.00	19.30
2022	69.40	97.00	169.00	230.00	25.60
2023	60.50	49.00	176.00	186.00	19.40
2024	60.40	68.00	191.00	252.00	23.20
Historic avg. (2020-2024)	59.90	74.80	180.00	225.00	21.48
2025 (to date)	66.85	88.00	221.00	264.00	22.02
2026 short-term	65.00	90.00	220.00	260.00	20.00
2027	66.00	90.00	220.00	260.00	21.00
2028	68.00	89.00	221.00	261.00	22.00
2029	70.00	91.00	222.00	262.00	24.00
2030	69.00	92.00	223.00	263.00	25.00
2031	71.00	93.00	223.00	263.00	24.00
Projected long-term avg. (2027-2031)	68.80	91.00	221.80	261.80	23.20

For more crop economics information: www.ag.ndsu.edu/cropeconomics

For more livestock economics information: www.ag.ndsu.edu/livestockeconomics

For more farm management information: www.ag.ndsu.edu/farmmanagement

线上赌博app

Plotting a Course – Planning Prices 2026

Table of Contents

Introduction

Historic and Projected Planning Prices for North Dakota

Crops

Beef

Hogs, Sheep, Milk

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