mi-press-releases News Release NR-12-01 January 3, 2012 U.S. Department of Agriculture National Agricultural Statistics Service Michigan Field Office Michigan Department of Agriculture Post Office Box 30239 Lansing, MI 48909-6248 Phone: (517) 324-5300 Facsimile: (517) 324-5299 E-mail: nass-mi@nass.usda.gov Web site: www.nass.usda.gov Jay V. Johnson, Director December Agricultural Prices Prices received by Michigan farmers for the full month of November 2011 and mid-month prices as of December 15, 2011, according to the USDA, NASS, Michigan Field Office, are listed in the table below. Some Michigan highlights were: corn $5.20 per bushel, down $0.50 from November but up $0.05 from last year; soybeans $10.70 per bushel, down $0.80 from last month; milk $20.90 per cwt, down $0.10 from last month, but up $3.30 from last year. U.S. preliminary All Farm Products Index of Prices Received by Farmers in December, at 176 percent, based on 1990-1992=100, decreased 8 points (4.3 percent) from November. The Crop Index is down 15 points (7.3 percent) but the Livestock Index increased 1 point (0.6 percent). Producers received lower prices for corn, soybeans, wheat, and lettuce and higher prices for eggs, broilers, cattle, and broccoli. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly movement of wheat, milk, broilers, and hay offset the decreased marketing of corn, soybeans, cattle, and grapes. The preliminary All Farm Products Index is up 23 points (15 percent) from December 2010. The Food Commodities Index, at 168, decreased 4 points (2.3 percent) from last month but increased 20 points (14 percent) from December 2010. The December Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 205 percent of the 1990-1992 average. The index is down 1 point (0.5 percent) from November but 16 points above (8.5 percent) December 2010. Lower prices in December for feed grains, complete feeds, diesel, and gasoline more than offset higher prices for feeder pigs, mixed fertilizer, supplements, and feeder cattle. Prices received by farmers, December 2011 --------------------------------------------------------------------------------------- : : Michigan : United States : :-----------------------------:----------------------------- Commodity :Unit:December :November :December :December :November :December : : 2010 1/ : 2011 1/ : 2011 2/ : 2010 1/ : 2011 1/ : 2011 2/ --------------------------------------------------------------------------------------- : : Dollars : : Beans, dry edible : Cwt: 30.00 46.80 46.70 24.60 39.90 45.30 Corn : Bu : 5.15 5.70 5.20 4.82 5.84 5.44 Hay, all : Ton: 98.00 102.00 103.00 111.00 176.00 177.00 Oats : Bu : 3.17 3.78 3.60 2.94 3.36 3.31 Potatoes : Cwt: 10.70 11.50 11.80 9.94 8.54 8.86 Soybeans : Bu : 11.90 11.50 10.70 11.60 11.70 11.10 Wheat, winter : Bu : 6.83 5.94 5.50 6.40 6.42 5.93 : : Calves : Cwt: 96.00 5/ 5/ 130.00 153.00 158.00 Cattle, all beef : Cwt: 81.40 5/ 5/ 98.10 120.00 121.00 Cows, slaughter 3/ : Cwt: 52.00 5/ 5/ 55.10 66.00 69.00 Steers and heifers : Cwt: 94.00 5/ 5/ 104.00 126.00 128.00 Milk, all : Cwt: 17.60 21.00 20.90 16.70 20.40 19.80 Eggs, market 4/ : Doz: 4/ 4/ 4/ 0.919 0.862 1.10 --------------------------------------------------------------------------------------- 1/ Entire month weighted average price. 2/ Mid-month price. 3/ Includes cull dairy cows. 4/ Discontinued at the state level for 2010. 5/ Discontinued at the state level for 2011.