mi-press-releases

News Release
NR-12-32
June 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

May Agricultural Prices

Prices received by Michigan farmers for the full month of April 2012 and mid-
month prices as of May 15, 2012, according to USDA, NASS, Michigan Field 
Office, are listed in the table below. According to USDA, NASS, Michigan 
Field Office, Michigan highlights were: May corn at $6.05 per bushel, is down 
$0.19 from April and down $0.39 from last year; May soybeans at $13.50 per 
bushel, is down $0.20 from last month; May milk at $16.90 per cwt, is down 
$0.40 from last month, and down $3.70 from last year.

U.S. preliminary All Farm Products Index of Prices Received by Farmers in 
May, at 176 percent, based on 1990-1992=100, decreased 2 points (1.1 percent) 
from April. The Crop Index is down 3 points (1.4 percent) and the Livestock 
Index decreased 1 point (0.7 percent). Producers received lower prices for 
cattle, corn, milk, and wheat. Higher prices were received for broilers, 
grapefruit, hay, and oranges. 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 broilers, sweet 
corn, wheat, and grapes offset the decreased marketing of corn, cattle, milk, 
and soybeans. The preliminary All Farm Products Index is up 1 point (0.6 
percent) from May 2011. The Food Commodities Index, at 164, decreased 1 point 
(0.6 percent) from last month and decreased 1 point (0.6 percent) from May 
2011.

The May Index of Prices Paid for Commodities and Services, Interest, Taxes, 
and Farm Wage Rates (PPITW) is 212 percent of the 1990-1992 average. The 
index is down 1 point (-0.5 percent) from April but 8 points (3.9 percent) 
above May 2011. Lower prices in May for LP gas, diesel, feeder pigs, and 
feeder cattle offset higher prices for nitrogen, concentrates, complete 
feeds, and hay & forages.

                  Prices received by farmers, May 2012                  
------------------------------------------------------------------------
                  :     :       Michigan        :     United States     
                  :     :-----------------------:-----------------------
     Commodity    :Unit :  May  :  Apr  :  May  :  May  :  Apr  :  May  
                  :     :2011 1/:2012 1/:2012 2/:2011 1/:2012 1/:2012 2/
------------------------------------------------------------------------
                  :     :                    Dollars                    
                  :     :                                               
Beans, dry edible : Cwt : 40.10   43.00   43.40   32.90   47.00   44.60 
Corn              : Bu  :  6.44    6.24    6.05    6.32    6.34    6.22 
Hay, all          : Ton :102.00  109.00  113.00  171.00  190.00  199.00 
Oats              : Bu  :  4.31    4.52    4.50    3.55    3.81    3.76 
Potatoes          : Cwt : 13.70   13.80     (S)   11.17   10.75    9.86 
Soybeans          : Bu  : 12.60   13.70   13.50   13.20   13.70   13.70 
Wheat, winter     : Bu  :  7.01    6.31    6.20    7.80    6.47    6.18 
                  :     :                                               
Milk, all         : Cwt : 20.60   17.30   16.90   19.60   16.80   16.40 
------------------------------------------------------------------------
(S)  Insufficient number of reports to establish an estimate.           
1/   Entire month weighted average price.                               
2/   Mid-month price.