mi-press-releases

News Release
NR-12-49
August 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

July Agricultural Prices

Prices received by Michigan farmers for the full month of June 2012 and mid-
month prices as of July 15, 2012 are listed in the table below. According to 
Jay Johnson, Director of the USDA, NASS, Michigan Field Office, "The increase 
in Michigan grain prices can be attributed to the current drought conditions 
throughout the United States." July Michigan highlights were: July corn at 
$7.55 per bushel, is up $1.16 from June and up $0.73 from last year; July 
soybeans at $15.70 per bushel, is up $1.80 from last month and up $2.50 from 
last year; July milk at $16.90 per cwt, is up $0.50 from last month, and down 
$5.80 from last year. 

U.S. All Farm Products Index of Prices Received by Farmers in July, at 193 
percent, based on 1990-1992=100, increased 11 points (6.0 percent) from June. 
The Crop Index is up 20 points (9.4 percent) but the Livestock Index 
decreased 1 point (0.7 percent). Producers received higher prices for corn, 
wheat, soybeans, and hogs and lower prices for cattle, grapes, broilers, 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, grapes, grain sorghum, and hay offset 
the decreased marketing of milk, potatoes, cantaloupes, and corn. The 
preliminary All Farm Products Index is up 10 points (5.5 percent) from July 
2011. The Food Commodities Index, at 178, increased 7 points (4.1 percent) 
from last month and increased 3 points (1.7 percent) from July 2011.

The July Index of Prices Paid for Commodities and Services, Interest, Taxes, 
and Farm Wage Rates (PPITW) is 215 percent of the 1990-1992 average. The 
index is up 1 point (0.5 percent) from June and 11 points (5.4 percent) above 
July 2011. Higher prices in July for feed grain

                  Prices received by farmers, July 2012                 
------------------------------------------------------------------------
                  :     :       Michigan        :     United States     
                  :     :-----------------------:-----------------------
     Commodity    :Unit :  Jul  :  Jun  :  Jul  :  Jul  :  Jun  :  Jul  
                  :     :2011 1/:2012 1/:2012 2/:2011 1/:2012 1/:2012 2/
------------------------------------------------------------------------
                  :     :                    Dollars                    
                  :     :                                               
Beans, dry edible : Cwt : 42.70   42.50     (D)   34.20   44.20   43.80 
Corn              : Bu  :  6.82    6.39    7.55    6.33    6.37    7.36 
Hay, all          : Ton :103.00  105.00  137.00  170.00  183.00  184.00 
Oats              : Bu  :  3.48     (D)    4.10    3.35    3.77    3.81 
Potatoes          : Cwt :   (D)     (S)     (S)   14.19    9.93    9.76 
Soybeans          : Bu  : 13.20   13.90   15.70   13.20   13.90   15.60 
Wheat, winter     : Bu  :  6.65    6.64    8.50    6.77    6.54    8.26 
                  :     :                                               
Milk, all         : Cwt : 22.70   16.40   16.90   21.80   16.20   16.60 
------------------------------------------------------------------------
(D)  Withheld to avoid disclosing data for individual operations.       
(S)  Insufficient number of reports to establish an estimate.           
1/   Entire month weighted average price.                               
2/   Mid-month price.