Form 4 FERRELL JAMES E For: Mar 10 (10K)

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FERRELL JAMES E

(Last)

(First)

(Middle)

7500 COLLEGE BOULEVARD, SUITE 1000

(Street)

OVERLAND PARK

66210

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
FERRELLGAS PARTNERS L P [FGP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Unit	03/10/2009		P		100	A	$ 11.75	4,333,575	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		300	A	$ 11.79	4,333,875	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		300	A	$ 11.8	4,334,175	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		100	A	$ 11.87	4,334,275	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		200	A	$ 11.88	4,334,475	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		300	A	$ 11.93	4,334,775	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		100	A	$ 11.94	4,334,875	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		100	A	$ 11.95	4,334,975	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		700	A	$ 11.97	4,335,675	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		300	A	$ 11.98	4,335,975	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		100	A	$ 12.19	4,336,075	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		200	A	$ 12.2	4,336,275	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		200	A	$ 12.21	4,336,475	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		55	A	$ 12.25	4,336,530	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		400	A	$ 12.29	4,336,930	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		900	A	$ 12.3	4,337,830	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		400	A	$ 12.32	4,338,230	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		347	A	$ 12.33	4,338,577	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		200	A	$ 12.35	4,338,777	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		1,000	A	$ 12.36	4,339,777	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		100	A	$ 12.37	4,339,877	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		500	A	$ 12.38	4,340,377	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		1,345	A	$ 12.39	4,341,722	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		900	A	$ 12.4	4,342,622	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		1,600	A	$ 12.41	4,344,222	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		1,135	A	$ 12.42	4,345,357	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		300	A	$ 12.43	4,345,657	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		3,053	A	$ 12.44	4,348,710	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		500	A	$ 12.45	4,349,210	I	JEF Capital Management, Inc. ⁽¹⁾
Common Unit	03/10/2009		P		2,365	A	$ 12.46	4,351,575 ⁽²⁾	I	JEF Capital Management, Inc. ⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Explanation of Responses:

1. JEF Capital Management, Inc. is wholly-owned by the James E. Ferrell Revocable Trust Two for which James E. Ferrell is the trustee and sole beneficiary.

2. 4,616 of these common units are held by Ferrell Resources Holdings, Inc., which is wholly-owned by the James E. Ferrell Revocable Trust One, for which James E. Ferrell is the trustee and sole beneficiary. All remaining common units are held by JEF Capital Management, Inc.

	/s/ James E. Ferrell	03/10/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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