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PRICES

March 3, 1997

USDA, National Agricultural Statistics Service   |  1222 Woodward Street   |  Orlando, Florida 32803   |  407 / 648-6013


PRICES RECEIVED BY FLORIDA FARMERS

    Prices received by cattle producers in mid-February were higher compared with the entire month of January. Hogs were up 85 cents per cwt from last month and $5.00 more than last year. Cows were $2.60 more than the previous month but 60 cents less than February 1996. Steers and heifers were up $4.90 and $12.60 per cwt from last month and last year, respectively. Calves averaged $9.80 more than a month earlier and $22.60 more than the previous year.

    Milk price estimates for February averaged $16.30 per cwt, 30 cents less than the previous month and 60 cents lower than a year earlier. Commercial broilers at 42.0 cents per pound was unchanged from last month but 5.0 cents more than the previous year. Table eggs at 63.0 cents per dozen were up 5.0 cents from January and 4.0 cents above February 1996.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in February was 105 based on 1990-92=100, down 3 points (2.8 percent) from January. Price declines from January for lettuce, broilers, wheat, and hogs more than offset price increases for soybeans, tomatoes, hay, and tobacco. The seasonal changes in the mix of commodities farmers sell also affect the overall Index level. Lower seasonal marketings of corn, tobacco, soybeans, and cotton more than offset the relatively higher marketings of milk, cattle, hogs, and broilers. These changes contributed two points of the three point decrease in the overall Index.

    Compared with February 1996, the All Farm Products Index was 1 point (0.9 percent) lower. Price decreases from February 1996 for corn, wheat, poatoes, and lettuce more than offset price increases for cattle, hogs, broilers, and hay.

PRICES PAID INDEX UNCHANGED

    The February Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 116 percent of the 1990-92 average. The Index was unchanged from January but was 3 points (2.7 percent) above February 1996. Since last month, prices were higher for feeder cattle and calves, alfalfa hay, and feeder pigs. Prices of other surveyed items had no significant effect on the Index.


SUMMARY TABLE
Index
1990-92=100
1996     1997
Jan Feb Jan Feb
Prices Received 108 106 108 105
Prices Paid 113 113 116 116
Ratio 1 96 94 93 91
1/ Ratio of Index of Prices Received to Prices Paid.


Average prices received by farmers 1/
Commodity Unit Florida United States
February
1996
January
1997
February
1997
February
1996
January
1997
February
1997
Meat animals:
    Hogs $ per cwt 41.20 45.35 46.20 46.50 53.80 52.60
    Cows $ per cwt 33.30 30.10 32.70 32.10 30.00 32.20
    Steers & heifers $ per cwt 46.30 54.00 58.90 61.10 65.20 64.50
    Calves $ per cwt 53.90 66.70 76.50 60.20 68.10 72.60
Milk: 2/
    Sold to plants, all $ per cwt 16.90 16.60 16.30 13.80 13.40 13.30
Poultry:
    Com'l broilers Cents per lb. 37.0 42.0 42.0 35.3 40.4 39.1
    Table eggs Cents per doz. 59.0 58.0 63.0 66.3 65.8 65.4
Citrus, on tree:
    Oranges $ per box 4.65 3.46 3.35 4.39 3.72 3.60
    Grapefruit $ per box 1.70 1.81 2.06 1.77 2.07 2.12
    Limes $ per bu. ** 12.08 12.24 ** 12.08 12.24
    Tangerines $ per box ** 7.26 7.83 9.18 7.26 8.73
Field crops:
    Potatoes $ per cwt 26.80 ** 26.00 6.81 4.23 4.51
    Hay, baled $ per ton ** ** ** 79.20 95.90 99.70
    Tobacco, Type 11-37 Cents per lb. ** ** ** 206.0 201.0 207.0
    Peanuts Cents per lb. ** ** ** ** 24.3 **
    Corn* $ per bu. 3.37 2.69 2.69
    Oats* $ per bu. 1.96 1.82 1.87
    Cotton* Cents per lb. 75.7 67.8 66.7
    Sorghum* $ per cwt 6.24 4.04 4.04
    Soybeans* $ per bu. 7.00 7.13 7.37
    Wheat, Winter* $ per bu. 5.00 4.02 3.89
1/ Eggs and hay estimates are midmonth prices. Prices for the latest month are midmonth estimates for grains and soybeans, and mostly first half of month for meat animals. Other estimates are for the entire month.
2/ Before deductions for hauling and government withholding, and includes quantity and other premiums, but excludes hauling subsidies.
* Only marketing year average prices estimated for Florida, except oats and sorghum which are not estimated.
** Not estimated this month.


ALL CROPS: The February Index was 113, down 2.6 percent from January and 8.1 percent below February 1996. From January, price declines for vegetables, fruits, and food grains more than offset price increases for oilseeds, hay, and to bacco.

FEED GRAINS AND HAY: The February Index was 120, up 1.7 percent from last month but 14 percent below February 1996. Corn prices, at $2.69 per bushel, were unchanged from January but 68 cents below the February 1996 price. Barley prices declined from last month. Hay prices were above last month.

OIL-BEARING CROPS: The February Index, at 131, was up 3.1 percent from January and 4.8 percent above February 1996. Soybean prices, at $7.37 per bushel, increased 24 cents from January. Expected tighter supplies at the end of the marketing year has been the major factor in the price increase.

FOOD GRAINS: The February Index, at 133, was down 2.9 percent from the previous month, and 16 percent below February 1996. The February all wheat price, at $3.91 per bushel, was down 12 cents from January and $1.07 below the February 1996 price. Increases in Australian production and projected exports pressured prices.

FRUIT AND NUTS: The February all fruit and nuts Index, at 93, decreased 3.1 percent from the previous month and was 5.1 percent below February 1996. Lower prices for lemons, apples, oranges, and strawberries accounted for the decline.

COTTON: The February Index, at 110, was down 1.8 percent from January and 12 percent below February 1996. The February cotton price, at 66.7 cents per pound, was down 1.1 cents from January and 9.0 cents below February 1996.

LIVESTOCK AND PRODUCTS: The February Index, at 98, was unchanged from January but up 5.4 percent from February 1996. Prices received for cattle, calves, hogs, and broilers were up from a year ago, while milk, turkey, and egg prices were down.

MEAT ANIMALS: The February Index, at 89, was down 1.1 percent from last month, but up 8.5 percent from February 1996. The February beef cattle price, at $61.20, was 20 cents below January, but up $3.30 from a year earlier. The February hog price, at $52.60, was down $1.20 from last month, but $6.10 above February 1996. Continued large supplies of fed cattle and seasonally weak demand continued to pressure cattle prices. Weekly hog slaughter is running about 5 percent below a year ago as packers respond to tight hog supplies and unfavorable market conditions.

DAIRY PRODUCTS: The February Index, at 102, was 1.0 percent below January and 3.8 percent below last year. The February all milk price, at $13.30 per cwt, was 10 cents below January. Milk production in January was below a year ago, but fluid demand declined seasonally. Cheese prices increased in February.

POULTRY AND EGGS: The February Index, at 118, was 3.3 percent below January, but 4.4 percent above a year ago. The February broiler price, at 39.1 cents per pound, decreased 1.3 cents from January. Eggs decreased only 0.1 cent to 75.7 cents per dozen. Turkeys decreased 2.2 cents to 36.4 cents per pound. Production increases and softness in demand contributed most to the decline in poultry prices.


Prices received for Selected Agricultural Commodities, by months,
United States, 1996 and 1997
Month All wheat Corn Soybeans Beef cattle 1/ All hogs
1996 1997 2/ 1996 1997 2/ 1996 1997 2/ 1996 1997 2/ 1996 1997 2/
Dollars per bushel Dollars per cwt
Jan 4 .83 4 .03 3 .09 2 .69 6 .78 7 .13 59 .00 61 .40 42 .60 53 .80
Feb 4 .98 3 .91 3 .37 2 .69 7 .00 7 .37 57 .90 61 .20 46 .50 52 .60
Mar 5 .07 3 .51 7 .00 56 .80 48 .70
Apr 5 .32 3 .85 7 .43 54 .90 49 .70
May 5 .75 4 .14 7 .69 54 .70 56 .80
Jun 5 .25 4 .20 7 .41 56 .40 56 .40
Jul 4 .73 4 .43 7 .62 59 .10 58 .60
Aug 4 .58 4 .30 7 .82 61 .30 59 .70
Sep 4 .37 3 .55 7 .79 63 .80 54 .70
Oct 4 .18 2 .89 6 .95 63 .30 55 .60
Nov 4 .14 2 .66 6 .90 63 .40 54 .40
Dec 4 .06 2 .63 6 .91 61 .00 55 .60
1/ Cows, steers, and heifers.
2/ Current month prices are mid-month; prices for previous months are for the entire month.