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PRICES

September 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-September were lower compared with the entire month of August. Hogs were down $6.10 per cwt from last month and $1.90 less than the previous year. The price for cows at $34.20 per cwt was $1.60 lower than a month earlier but $10.30 higher than September 1996. Steers and heifers were down $1.70 from last month but $21.80 more than a year earlier. Calves averaged $1.70 below the previous month but $31.80 more than September 1996.

    Milk price estimates for September averaged $15.80 per cwt, 10 cents above a month earlier but $3.60 less than the previous year. Commercial broilers at 39.0 cents per pound were down 2.0 cents from last month and 4.5 cents lower than September 1996. Table eggs at 54.0 cents per dozen were up 8.0 cents from August but 8.0 cents less than a year earlier.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in September was 108 based on 1990-92=100, unchanged from August. Price increases from August for tobacco, milk, eggs, and grapes offset price decreases for hogs, broilers, soybeans, and onions. The seasonal changes in the mix of commodities farmers sell also affect
the overall Index level. However, these changes were essentially offsetting in September.

    Compared with September 1996, the All Farm Products Index was 8 points (6.9 percent) lower. Price decreases from September 1996 for corn, milk, wheat, and soybeans more than offset price increases for lettuce, calves, potatoes, and hay.

PRICES PAID INDEX UNCHANGED

    The September 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 August 1997 and September 1996. Since August 1997, lower prices for feed concentrates, complete feed, feeder pigs, nitrogen fertilizer materials, and corn were offset by higher fuel, agricultural chemical, and feeder cattle and calf prices.

SUMMARY TABLE
Index
1990-92=100
1996     1997
August September August September
Prices Received 117 116 108 108
Prices Paid 115 116 116 116
Ratio 1/ 102 100 93 93
1/ Ratio of Index of Prices Received to Prices Paid.


Average prices received by farmers 1/
Commodity Unit Florida United States
September
1996
August
1997
September
1997
September
1996
August
1997
September
1997
Meat animals:
    Hogs $ per cwt 46.30 50.50 44.40 54.70 55.30 51.10
    Cows $ per cwt 26.90 35.80 34.20 30.80 36.40 34.90
    Steers & heifers $ per cwt 51.30 74.80 73.10 67.90 66.60 66.90
    Calves $ per cwt 58.00 91.50 89.80 61.00 88.00 86.60
Milk: 2/
    Sold to plants, all $ per cwt 19.40 15.70 15.80 16.60 12.70 13.00
Poultry:
    Com'l broilers Cents per lb. 43.5 41.0 39.0 40.2 40.1 38.5
    Table eggs Cents per doz. 62.0 46.0 54.0 65.1 49.8 57.6
Citrus, on tree:
    Oranges $ per box ** ** ** 13.70 6.93 6.95
    Grapefruit $ per box ** ** ** 8.13 5.78 4.18
    Limes $ per bu. 2.45 4.72 2.73 2.45 4.72 2.73
    Tangerines $ per box ** ** ** ** ** **
Field crops:
    Potatoes $ per cwt ** ** ** 4.83 6.33 5.67
    Hay, baled $ per ton ** ** ** 92.10 101.00 101.00
    Tobacco, Type 11-37 Cents per lb. 189.5 166.0 182.5 189.0 160.0 172.5
    Peanuts Cents per lb. 27.7 ** ** 27.6 ** 27.4
    Corn* $ per bu. 3.55 2.50 2.47
    Oats* $ per bu. 1.83 1.55 1.55
    Cotton* Cents per lb. 71.7 67.1 71.9
    Sorghum* $ per cwt 5.58 4.09 4.03
    Soybeans* $ per bu. 7.79 7.25 7.02
    Wheat, Winter* $ per bu. 4.28 3.39 3.44
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 September Index was 115, down 1.7 percent from August and 8.0 percent below September 1996. From August, price decreases for potatoes and dry beans, oilseeds, and vegetables more than offset price increases for fruit and nuts, tobacco, and food grains.

FOOD GRAINS: The September Index, at 125, was up 2.5 percent from the previous month and 15 percent below September 1996. The September all wheat price, at $3.62 per bushel, was up 6 cents from August but 75 cents below the September 1996 price.

FEED GRAINS AND HAY: The September Index was 112, down 2.6 percent from last month and 24 percent below September 1996. The corn price, at $2.47 per bushel, was down 3 cents from August and was $1.08 below the Septem ber 1996 price. The all hay price, at $101.00 per ton, was unchanged from August.

OIL-BEARING CROPS: The September Index, at 114, was down 11 percent from August and 8.1 percent below Septem ber 1996. Soybean prices, at $7.02 per bushel, decreased 23 cents from August and were 77 cents below September 1996.

FRUIT AND NUTS: The September All Fruit and Nuts Index, at 135, was up 5.5 percent from the previous month but was 4.3 percent below September 1996. Higher prices from last month for grapes, apples, peaches, and strawberries more than offset lower prices for lemons and grapefruit.

POTATOES AND DRY BEANS: The September Index, at 95, was down 14 percent from August but 1.1 percent above September 1996. The September potato price, at $5.67 per cwt, was down 66 cents from August but 84 cents per cwt above September 1996.
LIVESTOCK AND PRODUCTS: The September Index, at 99, was the same as the previous month but down 5.7 percent from September 1996. Compared to a year ago, calf and cow prices increased while steer and heifer, hog, milk, broiler, egg, and turkey prices declined.

MEAT ANIMALS: The September Index, at 92, was down 2.1 percent from August but the same as in September 1996. The September beef cattle price was $63.80, down 10 cents from last month but the same as last year. The September hog price of $51.10 was down $4.20 from August and $3.60 below the September 1996 price. Cattle prices were pressured by large feedlot inventories and a seasonal decline in prices for cull cows. Hog prices fell in response to increasing supplies.

DAIRY PRODUCTS: The September Index of 100 was up 3.1 percent from August, but down 21 percent from September 1996. The September all milk price, at $13.00, was up 30 cents from August but $3.50 below last year. Milk production continues to post year-over-year increases, with August production up 4.4 percent.

POULTRY AND EGGS: The September Index, at 116, was 1.7 percent below August and 5.7 percent below a year ago. The September broiler price, at 38.5 cents per pound, was down 1.6 cents from August, reflecting a seasonal decline and ample supplies. Market egg prices increased 7.8 cents to 57.6 cents per dozen. Supplies of eggs continued to be adequate but demand is strong. Turkey prices increased 0.4 cents to 41.1 cents per pound. Total stocks of chickens were 8 percent below a year ago, while total turkey stocks were up 2 percent.


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 .57 3 .56 4 .30 2 .50 7 .82 7 .25 61 .30 63 .90 59 .70 55 .30
Sep 4 .37 3 .62 3 .55 2 .47 7 .79 7 .02 63 .80 63 .80 54 .70 51 .10
Oct 4 .17 2 .89 6 .95 63 .30 55 .60
Nov 4 .10 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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