I have an UPDATE question regarding MySQL and PHP.

I have a field that needs to be updated in all rows, excess of 900 rows, called PRICE. I calculate the new price value and want to update the PRICE field, but also the FACTORPRICE field with a value passed in from a FORM.

UPDATE cookers SET PRICE=$newPrice, FACTORPRICE=$factorPrice

$newPrice = ((WEIGHT * $factorPrice) + ($iAuxilaryCosts + (RINGQTY * 8))) * 2;
$factorPrice = formValue;
uppercase names = table fields

Can this UPDATE operation be created without a need of a previous SELECT statement and looping through the entire resultset and updating row by row?