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PRICES

June 30, 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-June were mostly lower compared with the entire month of May. Hogs were down $3.30 per cwt from last month but $6.00 more than last year. The price for cows at $36.40 per cwt was 90 cents less than a month earlier, but $6.80 higher than June 1996. Steers and heifers were $1.60 more the previous month and $27.50 higher than a year earlier. Calves averaged $1.50 less than the previous month but $41.80 more than a year earlier.

    Milk price estimates for June averaged $15.40 per cwt, 90 cents below a month earlier and $2.00 less than the previous year. Commercial broilers at 38.0 cents per pound were up 1.0 cent from last month but 4.0 cents less than June 1996. Table eggs at 53.0 cents per dozen were down 2.0 cents from May and 1.0 cent less than June 1996.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in June was 107 based on 1990-92=100, up 1 point (0.9 percent) from May. Price decreases from May for cattle, milk, wheat, and cantaloupes more than offset price increases for lettuce, strawberries, lemons, and broilers. The seasonal change in the mix of commodities farmers sell also affects the overall Index level. Higher seasonal marketings
of wheat, grapes, hay, and cantaloupes more than offset the relatively lower marketings of oranges, tomatoes, strawberries, and cattle.

    Compared with June 1996, the All Farm Products Index was 11 points (9.3 percent) lower. Price decreases from June 1996 for corn, wheat, milk, and broilers more than offset price increases for cattle, soybeans, hay, and calves.

PRICES PAID INDEX UNCHANGED

    The June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 117 percent of the 1990-92 average. The Index was unchanged from May but was 2 points (1.7 percent) above June 1996. Since May 1997, higher prices for feed concentrates, complete feeds, feeder cattle, and herbicides were offset by lower hay, feed grain, fuel, feeder pig, and fertilizer prices.


SUMMARY TABLE
Index
1990-92=100
1996     1997
May June May June
Prices Received 112 118 108 107
Prices Paid 115 115 117 117
Ratio 1/ 97 103 92 91
1/ Ratio of Index of Prices Received to Prices Paid.


Average prices received by farmers 1/
Commodity Unit Florida United States
June
1996
May
1997
June
1997
June
1996
May
1997
June
1997
Meat animals:
    Hogs $ per cwt 42.90 52.20 48.90 56.40 58.20 57.20
    Cows $ per cwt 29.60 37.30 36.40 30.60 38.20 36.00
    Steers & heifers $ per cwt 44.00 69.90 71.50 59.60 68.30 64.90
    Calves $ per cwt 49.40 92.70 91.20 55.10 84.30 85.00
Milk: 2/
    Sold to plants, all $ per cwt 17.40 16.30 15.40 14.90 13.10 12.70
Poultry:
    Com'l broilers Cents per lb. 42.0 37.0 38.0 40.6 36.4 37.4
    Table eggs Cents per doz. 54.0 55.0 53.0 58.3 51.1 45.4
Citrus, on tree:
    Oranges $ per box 7.32 3.66 4.28 6.72 4.76 4.62
    Grapefruit $ per box ** 0.25 2.27 3.60 -1.40 1.82
    Limes $ per bu. 2.28 3.00 -1.49 2.28 3.00 -1.49
    Tangerines $ per box ** ** ** ** ** **
Field crops:
    Potatoes $ per cwt 9.60 11.00 11.50 8.14 5.19 4.96
    Hay, baled $ per ton ** ** ** 92.30 118.00 108.00
    Tobacco, Type 11-37 Cents per lb. ** ** ** ** ** **
    Peanuts Cents per lb. ** ** ** ** ** **
    Corn* $ per bu. 4.20 2.69 2.56
    Oats* $ per bu. 2.16 1.86 1.80
    Cotton* Cents per lb. 76.9 68.1 69.8
    Sorghum* $ per cwt 6.85 4.17 4.11
    Soybeans* $ per bu. 7.41 8.40 8.22
    Wheat, Winter* $ per bu. 5.14 4.10 3.54
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.


HIGHLIGHTS--U.S. PRICES RECEIVED INDEXES

ALL CROPS: The June Index was 118, up 0.9 percent from May but 16 percent below June 1996. From May, price increases for fruits and cotton more than offset price decreases for feed grains and hay, food grains, and oilseeds.

FEED GRAINS AND HAY: The June Index was 119, down 4.0 percent from last month and 28 percent below June 1996. The corn price, at $2.56 per bushel, was down 13 cents from May and was $1.64 below the June 1996 price. The all hay price, at $108.00 per ton, was down $10.00 from May.

OIL-BEARING CROPS: The June Index, at 146, was down 2.0 percent from May but 9.8 percent above June 1996. Soybean prices, at $8.22 per bushel, decreased 18 cents from May.

FOOD GRAINS: The June Index, at 125, was down 10 percent from the previous month, and 29 percent below June 1996. The June all wheat price, at $3.66 per bushel, was down 43 cents from May and $1.59 below the June 1996 price.

FRUIT AND NUTS: The June all fruit and nuts Index; at 120, increased 17 percent from the previous month but was 12 percent below June 1996. Higher prices from last month for strawberries, lemons, grapefruit, and pears accounted for the increase.

POTATOES AND DRY BEANS: The June Index, at 90, was down 4.3 percent from May and 35 percent below June 1996. The June potato price, at $4.96 per cwt, was down 23 cents from May and $3.18 per cwt below June 1996. Potato prices rose in May due to shortages of chip potatoes. Old crop supplies caused the June price to decline from May. New crop prices are improving.

LIVESTOCK AND PRODUCTS: The June Index, at 98, was down 2.0 percent from both May and June 1996. Prices received for milk, broilers, eggs, and turkeys were down from a year ago, while prices increased for cattle, calves, and hogs.

MEAT ANIMALS: The June Index, at 93, was down 4.1 percent from May but 9.4 percent above June 1996. The June beef cattle price, at $61.90 per cwt, was down $3.20 from last month but up $5.50 from a year earlier. The June hog price of $57.20 was down $1.00 from May but 80 cents higher than a year ago. Fed cattle and beef cow prices were lower because of large cattle on feed supplies and lack of consumer demand generated by fast food promotions. Hog prices were down slightly because slaughter has picked up and the expected foreign trade potential has not materialized.

DAIRY PRODUCTS: The June Index, at 96, was down 4.0 percent from May and 15 percent below a year ago. The June all milk price, at $12.60 per cwt, was down 40 cents from May, and $2.20 below last year. Milk production continues to be strong with May production up 2.1 percent over last year. Cheese prices continue near their lowest level of the year.

POULTRY AND EGGS: The June Index, at 111, was unchanged from May but 9.0 percent below a year ago. The June broiler price at 37.4 cents per pound increased 1.0 cent from May. Market egg prices decreased 5.7 cents to 45.4 cents per dozen. Turkeys increased 0.3 cents to 41.5 cents per pound. Broiler prices reflect a seasonal increase as demand picks up in the summer. Market egg prices are reflecting increasing supplies as May production was 3 percent above a year earlier.


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 .88 3 .37 2 .65 7 .00 7 .38 57 .90 61 .90 46 .50 52 .80
Mar 5 .07 3 .93 3 .51 2 .79 7 .00 7 .97 56 .80 64 .80 48 .70 49 .40
Apr 5 .32 4 .11 3 .85 2 .80 7 .43 8 .23 54 .90 64 .80 49 .70 53 .80
May 5 .75 4 .09 4 .14 2 .69 7 .69 8 .40 54 .70 65 .10 56 .80 58 .20
Jun 5 .25 3 .66 4 .20 2 .56 7 .41 8 .22 56 .40 61 .90 56 .40 57 .20
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.


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