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PRICES

August 1, 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-July were mostly higher compared with the entire month of June. Hogs were up $1.00 per cwt from last month and 40 cents more than last year. The price for cows at $38.00 per cwt was $2.40 more than a month earlier and $9.80 higher than July 1996. Steers and heifers were down $3.00 from last month but $23.70 more than a year earlier. Calves averaged $2.00 and $39.20 higher than last month and last year respectively.

    Milk price estimates for July averaged $15.00 per cwt, 80 cents below a month earlier and $3.30 less than the previous year. Commercial broilers at 40.0 cents per pound were up 2.0 cents from last month but 3.0 cents less than July 1996. Table eggs at 48.0 cents per dozen were down 5.0 cents from June and 3.0 cents less than a month earlier.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in July was 107 based on 1990-92=100, down 1 point (0.9 percent) from June. Price decreases from June for wheat, cantaloupes, corn, and hay more than offset price increases for broilers, lettuce, eggs, and celery. The seasonal change in the mix of commodities farmers sell also affects the overall Index level. However, these changes were essentially offsetting in July.
    Compared with July 1996, the All Farm Products Index was 12 points (10 percent) lower. Price decreases from July 1996 for corn, wheat, milk, and grain sorghum more than offset price increases for cattle, calves, lettuce, and hay.

PRICES PAID INDEX UNCHANGED

    The July 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 June but was 2 points (1.7 percent) above July 1996. Since June 1997, higher prices for concentrates, hay, feed grains, diesel fuel, fertilizers, feed supplements, complete feeds, and gasoline were offset by higher prices for feeder cattle purchased and LP gas.


SUMMARY TABLE
Index
1990-92=100
1996     1997
June July June July
Prices Received 118 119 108 107
Prices Paid 115 115 117 117
Ratio 1 103 103 92 91
1/ Ratio of Index of Prices Received to Prices Paid.


Average prices received by farmers 1/
Commodity Unit Florida United States
July
1996
June
1997
July
1997
July
1996
June
1997
July
1997
Meat animals:
    Hogs $ per cwt 49.90 49.30 50.30 58.60 57.80 59.00
    Cows $ per cwt 28.20 35.60 38.00 31.00 37.50 38.10
    Steers & heifers $ per cwt 46.30 73.00 70.00 62.10 64.90 65.30
    Calves $ per cwt 53.80 91.00 93.00 56.80 85.40 86.60
Milk: 2/
    Sold to plants, all $ per cwt 18.30 15.80 15.00 15.50 12.40 12.30
Poultry:
    Com'l broilers Cents per lb. 43.0 38.0 40.0 40.5 37.4 40.1
    Table eggs Cents per doz. 51.0 53.0 48.0 57.7 45.4 52.5
Citrus, on tree:
    Oranges $ per box ** 4.28 ** 6.97 4.62 5.08
    Grapefruit $ per box ** 2.27 ** 2.22 1.82 6.92
    Limes $ per bu. 0.38 -1.49 0.89 0.38 -1.49 0.89
    Tangerines $ per box ** ** ** ** ** **
Field crops:
    Potatoes $ per cwt ** 11.50 ** 8.09 5.23 6.01
    Hay, baled $ per ton ** ** ** 89.40 108.00 98.40
    Tobacco, Type 11-37 Cents per lb. 158.5 ** ** 160.0 ** **
    Peanuts Cents per lb. ** ** ** ** ** **
    Corn* $ per bu. 4.43 2.56 2.44
    Oats* $ per bu. 2.12 1.81 1.75
    Cotton* Cents per lb. 73.6 66.8 68.1
    Sorghum* $ per cwt 6.61 4.10 3.94
    Soybeans* $ per bu. 7.62 8.16 7.72
    Wheat, Winter* $ per bu. 4.67 3.42 3.10
`
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 July Index was 114, down 4.2 percent from June and 16 percent below July 1996. The June, price decreases for food grains, feed grains and hay, and oilseeds more than offset price increases for potatoes and dry beans.

FOOD GRAINS: The July Index, at 109, was down 9.2 percent from the previous month and 31 percent below July 1996. The July all wheat price, at $3.18 per bushel, was down 34 cents from June and $1.55 below the July 1996 price.

FEED GRAINS AND HAY: The July Index was 113, down 5.0 percent from last month and 33 percent below July 1996. The corn price, at $2.44 per bushel, was down 12 cents from June and $1.99 below the July 1996 price. The all hay price, at $98.40 per ton, was down $9.60 from June.

OIL-BEARING CROPS: The July Index, at 137, was down 5.5 percent from June but 0.7 percent above July 1996. Soybean prices, at $7.72 per bushel, decreased 44 cents from June but were 10 cents above July 1996.

FRUIT AND NUTS: The July all fruit and nuts Index, at 124, was unchanged from the previous month but was 5.2 percent below July 1996. Higher prices from last month for lemons, grapefruit, and oranges offset lower prices for strawberries and grapes.

POTATOES AND DRY BEANS: The July Index, at 106, was up 13 percent from June but 24 percent below July 1996. The July potato price, at $6.01 per cwt, was up 78 cents from June but $2.08 per cwt below July 1996.

LIVESTOCK AND PRODUCTS: The July Index, at 100, was up 2.0 percent from June but 2.0 percent below July 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 July Index, at 95, was up 1.1 percent from June and 6.7 percent above July 1996. The July beef cattle price, at $62.70 per cwt, was up 40 cents from last month and up $3.60 from a year earlier. The July hog price of $59.00 was up $1.20 from June and up 40 cents from a year ago. Cattle prices were up slightly because of lower feeder cattle supplies and declining cow slaughter. Hog prices were up as pork supplies remain tight because of last year's herd reduction.

DAIRY PRODUCTS: The July Index, at 94, was down 1.1 percent from June and was 20 percent below last year. The July all milk price, at $12.30 per cwt, was down 10 cents from June and $3.10 below last year. Milk production continues to be strong with June production up 3.9 percent from last year. Cheese prices started to move up during the second half of July.

POULTRY AND EGGS: The July Index, at 119, was 7.2 percent above June but 2.5 percent below a year ago. The July broiler price, at 40.1 cents per pound, increased 2.7 cents from June due to a seasonal increase in demand. Market egg prices increased 7.1 cents to 52.5 cents per dozen. Turkeys decreased 0.4 cents to 41.1 cents per pound. Supplies of eggs continue to run above a year ago but domestic and export demand is strong. Cold storage holdings of total poultry were 2 percent more than June 30, 1996.


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 .52 4 .20 2 .56 7 .41 8 .16 56 .40 62 .30 56 .40 57 .80
Jul 4 .73 3 .18 4 .43 2 .44 7 .62 7 .72 59 .10 62 .70 58 .60 59 .00
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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