mi-press-releases

News Release
NR-12-10
February 1, 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

January Agricultural Prices

Prices received by Michigan farmers for the full month of December 2011 and 
mid-month prices as of January 15, 2012, according to the USDA, NASS, 
Michigan Field Office, are listed in the table below. Some Michigan 
highlights were: corn $5.65 per bushel, up $0.02 from December and up $0.40 
from last year; soybeans $11.30 per bushel, up $0.10 from last month; milk 
$19.50 per cwt, down $1.00 from last month, but up $2.10 from last year.

U.S. preliminary All Farm Products Index of Prices Received by Farmers in 
January, at 186 percent, based on 1990-1992=100, increased 7 points (3.9 
percent) from December. The Crop Index is up 10 points (5.1 percent) but the 
Livestock Index decreased 1 point (0.6 percent). Producers received higher 
prices for cattle, broilers, soybeans, and corn and lower prices for eggs, 
milk, wheat, and lettuce. 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 corn, soybeans, cattle, and 
rice offset decreased marketings of milk, broilers, cotton, and cottonseed. 
The preliminary All Farm Products Index is up 20 points (12 percent) from 
January 2011. The Food Commodities Index, at 171, increased 2 points (1.2 
percent) from last month and 12 points (7.5 percent) from January 2011.

The January Index of Prices Paid for Commodities and Services, Interest, 
Taxes, and Farm Wage Rates (PPITW) is 207 percent of the 1990-1992 average. 
The index is up 2 points (1.0 percent) from December and 12 points (6.2 
percent) above January 2011. Higher prices in January for feeder cattle, 
interest expenses, taxes, and land rent offset lower prices for complete 
feeds, LP gas, concentrates, and diesel.

                        Prices received by farmers, January 2012                       
---------------------------------------------------------------------------------------
                      :    :          Michigan           :        United States        
                      :    :-----------------------------:-----------------------------
       Commodity      :Unit: January :December : January : January :December : January 
                      :    : 2011 1/ : 2011 1/ : 2012 2/ : 2011 1/ : 2011 1/ : 2012 2/ 
---------------------------------------------------------------------------------------
                      :    :                          Dollars                          
                      :    :                                                           
Beans, dry edible     : Cwt:  32.00     49.50     52.70     26.20     41.80     45.80  
Corn                  : Bu :   5.25      5.63      5.65      4.94      5.86      5.90  
Hay, all              : Ton: 102.00    103.00    103.00    112.00    177.00    172.00  
Oats                  : Bu :   3.74       (D)       (D)      3.13      3.57      3.62  
Potatoes              : Cwt:  11.20     11.90     12.30      9.08      9.08      9.08  
Soybeans              : Bu :  11.80     11.20     11.30     11.60     11.50     11.70  
Wheat, winter         : Bu :   6.28      6.07      6.00      6.35      6.41      6.25  
                      :    :                                                           
Milk, all             : Cwt:  17.40     20.50     19.50     16.70     19.80     19.20  
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(D)  Withheld to avoid disclosing data for individual firms                            
1/   Entire month weighted average price.                                              
2/   Mid-month price.