mi-press-releases

News Release
NR-12-65
September 28, 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

September Agricultural Prices

Prices received by Michigan farmers for the full month of August 2012 and 
mid-month prices as of September 15, 2012 are listed in the table below. 
According to Jay Johnson, Director of the USDA, NASS, Michigan Field Office, 
"Concerns over available supplies, which have been greatly impacted by the 
Nationwide drought, continue to provide record setting prices for Michigan 
corn and soybean producers. However, it is noteworthy that the prices paid 
index for inputs has more than offset this increase in corn and soybean 
prices."  Some Michigan highlights were: September corn at $7.75 per bushel, 
is down $0.21 from August and up $1.04 from last year; September soybeans at 
$16.70 per bushel, is up $0.80 from last month and up $3.70 from last year; 
September milk at $19.50 per cwt, is up $1.30 from last month, and down $3.10 
from last year. 

The U.S. preliminary All Farm Products Index of Prices Received by Farmers in 
September, at 200 percent, based on 1990-1992=100, increased 7 points (3.6 
percent) from August. The Crop Index is up 5 points (2.2 percent) but the 
Livestock Index was unchanged. Producers received higher prices for wheat, 
milk, cattle, and eggs and lower prices for corn, hogs, sweet corn, and 
broilers. 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 soybeans, corn, apples, and peanuts offset the 
decreased marketing of cattle, wheat, broilers, and grapes.

The September Index of Prices Paid for Commodities and Services, Interest, 
Taxes, and Farm Wage Rates (PPITW) is 219 percent of the 1990-1992 average. 
The index is up 3 points (1.4 percent) from August and 14 points (6.8 
percent) above September 2011. Higher prices in September for complete feeds, 
supplements, feeder cattle, and diesel offset lower prices for nitrogen, 
mixed fertilizer, feed grains, and feeder pigs.

               Prices received by farmers, September 2012               
------------------------------------------------------------------------
                  :     :       Michigan        :     United States     
                  :     :-----------------------:-----------------------
     Commodity    :Unit :  Sep  :  Aug  :  Sep  :  Sep  :  Aug  :  Sep  
                  :     :2011 1/:2012 1/:2012 2/:2011 1/:2012 1/:2012 2/
------------------------------------------------------------------------
                  :     :                    Dollars                    
                  :     :                                               
Beans, dry edible : Cwt : 44.60   40.70   38.00   40.20   39.90   39.20 
Corn              : Bu  :  6.71    7.96    7.75    6.38    7.63    7.35 
Hay, all          : Ton :105.00  163.00  165.00  180.00  184.00  187.00 
Oats              : Bu  :  3.52    4.12    4.00    3.67    3.81    3.75 
Potatoes          : Cwt :  9.30    9.60    9.75    8.05    7.80    7.60 
Soybeans          : Bu  : 13.00   15.90   16.70   12.20   16.20   16.30 
Wheat, winter     : Bu  :  6.85    8.44    8.50    7.00    7.92    8.51 
                  :     :                                               
Milk, all         : Cwt : 22.60   18.20   19.50   21.10   18.10   19.10 
------------------------------------------------------------------------
1/  Entire month weighted average price.                                
2/  Mid-month price.