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PRICES

September 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-August were lower compared with the entire month of July. Hogs were down $1.00 per cwt from last month and $1.60 less than the previous year. The price for cows at $36.50 per cwt was $1.50 lower than a month earlier but $6.70 higher than August 1996. Steers and heifers were down $2.80 from last month but $27.40 more than a year earlier. Calves averaged $3.30 below the previous month but $34.20 more than August 1996.

    Milk price estimates for August averaged $15.80 per cwt, 10 cents above a month earlier and $3.20 less than the previous year. Commercial broilers at 41.0 cents per pound were up 1.0 cent from last month but 2.5 cents less than August 1996. Table eggs at 46.0 cents per dozen were down 2.0 cents from July and 10 cents less than a year earlier.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in August was 107 based on 1990-92=100, unchanged from July. Price increases from July for wheat, lettuce, milk, and peaches more than offset price decreases for hogs, soybeans, strawberries, and cauliflower. However, the seasonal changes in the mix of commodities farmers sell also affect the overall Index level. Lower relative season marketings of wheat, hay, milk, and broilers more than offset the effect of relatively higher seasonal marketings of tobacco, cattle, grapes, and sweet corn, resulting in no change in the overall Index.

    Compared with August 1996, the All Farm Products Index was 10 points (8.5 percent) lower. Price decreases from August 1996 for corn, milk, wheat, and soybeans more than offset price increases for cattle, calves, hay, and lemons.

PRICES PAID INDEX UNCHANGED

    The August 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 July but was 1 point (0.9 percent) above August 1996. Since July 1997, prices were lower for feeder cattle and calf purchases, complete feeds, feed supplements, diesel fuel, feeder pigs, nitrogen fertilizers, and insecticides. Prices were slightly higher for feed grains, hay, and herbicides.

SUMMARY TABLE
Index
1990-92=100
1996     1997
July August July August
Prices Received 119 117 107 107
Prices Paid 115 115 116 116
Ratio 1 103 102 92 92
1/ Ratio of Index of Prices Received to Prices Paid.


Average prices received by farmers 1/
Commodity Unit Florida United States
August
1996
July
1997
August
1997
August
1996
July
1997
August
1997
Meat animals:
    Hogs $ per cwt 52.10 51.50 50.50 59.70 58.90 56.10
    Cows $ per cwt 29.80 38.00 36.50 31.80 38.20 36.30
    Steers & heifers $ per cwt 48.10 78.30 75.50 64.30 65.40 65.80
    Calves $ per cwt 56.50 94.00 90.70 54.30 86.90 88.00
Milk: 2/
    Sold to plants, all $ per cwt 19.00 15.70 15.80 16.00 12.30 12.70
Poultry:
    Com'l broilers Cents per lb. 43.5 40.0 41.0 40.3 40.1 40.1
    Table eggs Cents per doz. 56.0 48.0 46.0 62.6 52.5 49.8
Citrus, on tree:
    Oranges $ per box ** ** ** 8.15 5.08 6.93
    Grapefruit $ per box ** ** ** 8.78 6.92 5.78
    Limes $ per bu. 1.61 0.89 4.72 1.61 0.89 4.72
    Tangerines $ per box ** ** ** ** ** **
Field crops:
    Potatoes $ per cwt ** ** ** 5.79 6.34 5.86
    Hay, baled $ per ton ** ** ** 92.30 98.40 101.00
    Tobacco, Type 11-37 Cents per lb. 173.5 156.0 156.0 174.5 158.5 156.5
    Peanuts Cents per lb. 31.4 ** ** ** ** **
    Corn* $ per bu. 4.30 2.43 2.47
    Oats* $ per bu. 2.00 1.68 1.63
    Cotton* Cents per lb. 71.9 67.1 67.9
    Sorghum* $ per cwt 6.21 3.95 4.06
    Soybeans* $ per bu. 7.82 7.53 7.10
    Wheat, Winter* $ per bu. 4.51 3.16 3.39
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.

NOTE: This report is available on the Internet at http://www.nass.usda/fl



HIGHLIGHTS--U.S. PRICES RECEIVED INDEXES

ALL CROPS: The August Index was 116, up 1.8 percent from July but 13 percent below August 1996. From July, price increases for food grains and vegetables more than offset price decreases for soybeans and potatoes.

FOOD GRAINS: The August Index, at 120, was up 8.1 percent from the previous month but 22 percent below August 1996. The August all wheat price, at $3.49 per bushel, was up 26 cents from July but $1.08 below the August 1996 price.

FEED GRAINS AND HAY: The August Index was 114, up 0.9 percent from last month but 31 percent below August 1996. The corn price, at $2.47 per bushel, was up 4 cents from July but was $1.83 below the August 1996 price. The all hay price, at $101.00 per ton, was up $2.60 from July.

OIL-BEARING CROPS: The August Index, at 125, was down 6.7 percent from July and 9.4 percent below August 1996. Soybean prices, at $7.10 per bushel, decreased 43 cents from July and were 72 cents below August 1996.

FRUIT AND NUTS: The August All Fruit and Nuts Index, at 128, was up 2.4 percent from the previous month but was 1.5 percent below August 1996. Higher prices from last month for peaches, apples, oranges, and pears offset lower prices for strawberries, lemons, grapes, and grapefruit. Apple harvest is underway in California and Washington; the peach harvest is winding down in South Carolina.

POTATOES AND DRY BEANS: The August Index, at 101, was down 9.0 percent from July and 4.7 percent below August 1996. The August potato price, at $5.86 per cwt, was down 48 cents from July but 7 cents per cwt above August 1996.

LIVESTOCK AND PRODUCTS: The August Index, at 99, was down 1.0 percent from July and 4.8 percent below August 1996. Prices received for hogs, milk, broilers, eggs, and turkeys were down from a year ago, while prices increased for cattle and calves.

MEAT ANIMALS: The August Index, at 93, was down 2.1 percent from July but 2.2 percent above August 1996. The August beef cattle price, at $63.10 per cwt, was up 30 cents from last month and up $1.80 from a year earlier. The August hog price of $56.10 was down $2.80 from July and down $3.60 from a year ago. Cattle prices were up slightly because of good demand and declining feeder cattle supplies. Hog prices were lower as packers were not aggressively bidding for hogs.

DAIRY PRODUCTS: The August Index, at 97, was up 4.3 percent from July but was 20 percent below last year. The August all milk price, at $12.70 per cwt, was up 50 cents from July but $3.20 below last year. July milk production was up 4.8 percent from last year. Cheese prices were up in August.

POULTRY AND EGGS: The August Index, at 118, was 0.8 percent below July and 4.1 percent below a year ago. The August broiler price, at 40.1 cents per pound, was unchanged from July, with supplies adequate for the strong summer demand. Market egg prices decreased 2.7 cents to 49.8 cents per dozen. Turkeys decreased 0.4 cents to 40.7 cents per pound. Supplies of eggs continue to be adequate. Cold storage holdings of total frozen poultry were 3 percent more than July 31, 1996. The total stocks of chickens were 6 percent above a year ago while total turkey stocks were down 1 percent from last year. Stocks of turkey parts continue to rise and were 21 percent more than July 31, 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 .02 3 .09 2 .69 6 .78 7 .13 59 .00 61 .40 42 .60 53 .80
Feb 4 .98 3 .89 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 .10 3 .85 2 .80 7 .43 8 .23 54 .90 64 .80 49 .70 53 .80
May 5 .75 4 .08 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 .23 4 .43 2 .43 7 .62 7 .53 59 .10 62 .80 58 .60 58 .90
Aug 4 .58 3 .49 4 .30 2 .47 7 .82 7 .10 61 .30 63 .10 59 .70 56 .10
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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