mi-press-releases

News Release
NR-12-80
December 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

November Agricultural Prices

Prices received by Michigan farmers for the full month of October 2012 and 
mid-month prices as of November 15, 2012 are listed in the table below.

Some Michigan highlights were: November corn at $6.70 per bushel, is down 
$0.04 from October but up $1.00 from last year; November soybeans at $13.60 
per bushel, is down $0.40 from last month and up $2.10 from last year; 
November milk at $22.70 per cwt, is up $1.10 from last month, and up $1.70 
from last year. 

The U.S. preliminary All Farm Products Index of Prices Received by Farmers in 
November, at 203 percent, based on 1990-1992=100, decreased 6 points (2.9 
percent) from October. The Crop Index is down 7 points (3.0 percent) but the 
Livestock Index increased 5 points (3.1 percent). Producers received lower 
prices for soybeans, corn, and apples and higher prices for broilers, eggs, 
and milk.  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, milk, cattle, and cotton offset the 
decreased marketing of soybeans, peanuts, potatoes, and sunflowers.

The November Index of Prices Paid for Commodities and Services, Interest, 
Taxes, and Farm Wage Rates (PPITW) is 217 percent of the 1990-1992 average. 
The index is down 1 point (-0.5 percent) from October but 11 points (5.3 
percent) above November 2011. Lower prices in November for concentrates, 
diesel, supplements, and gasoline offset higher prices for feeder pigs, mixed 
fertilizer, supplies, and complete feeds.

                Prices received by farmers, November 2012               
------------------------------------------------------------------------
                        :       Michigan        :     United States     
                        :-----------------------------------------------
        Commodity       :  Nov  :  Oct  :  Nov  :  Nov  :  Oct  :  Nov  
                        :2011 1/:2012 1/:2012 2/:2011 1/:2012 1/: 2012  
------------------------------------------------------------------------
                        :                    Dollars                    
                        :                                               
Beans, dry edible....Cwt: 46.80   39.00   35.90   39.90   37.70   35.90 
Corn..................Bu:  5.70    6.74    6.70    5.83    6.77    6.70 
Hay, all.............Ton:112.00  197.00  237.00  174.00  193.00  237.00 
Oats..................Bu:  4.16    4.05    4.20    3.38    3.95    3.70 
Potatoes.............Cwt: 11.40   10.10   11.10    8.58    6.97   11.10 
Soybeans..............Bu: 11.50   14.00   13.60   11.70   14.20   13.60 
Wheat, winter.........Bu:  5.94    8.29    8.20    6.44    8.33    8.20 
........................:                                               
Milk, all............Cwt: 21.00   21.60   22.70   20.50   21.50   22.70 
------------------------------------------------------------------------
1/  Entire month weighted average price.                                
2/  Mid-month price.