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PRICES

December 2, 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-November were lower compared with the entire month of October. Hogs were down $4.60 per cwt, from last month and $12.50 less than the previous year. The price for cows at $30.70 per cwt was $1.40 below a month earlier but $3.70 higher than November 1996. Steers and heifers were down 70 cents from last month but $17.90 more than a year earlier. Calves averaged $3.10 below the previous month but $24.10 more than November 1996.

    Milk prices estimates for November averaged $18.00 per cwt, 70 cents above a month earlier but $2.10 less than the previous year. Commercial broilers at 36.0 cents per pound were up 1.0 cent from last month but 6.0 cents lower than a year earlier. Table eggs at 67.0 cents per dozen were up 20.0 cents from October but 3.0 cents less than a year earlier.
    

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in November was 107 based on 1990-92 = 100, unchanged from October. Price increases from October for soybeans, eggs, tomatoes, and grapes more than offset price decreases for lettuce, corn, peanuts, and hogs. The seasonal changes in the mix of commodities farmers sell also affect the overall Index level. Lower seasonal marketings of soybeans, peanuts, potatoes, and lettuce more than offset the
relatively higher marketings of cotton lint, milk, cattle, and cotton- seed. These marketing changes offset the slight increase in prices.

    Compared with November 1996, the All Farm Products Index was 3 points (2.7 percent) lower. Price decreases from November 1996 for hogs, broilers, corn, and milk more than offset price increases for calves, tomatoes, lettuce, and potatoes.

PRICES PAID INDEX UNCHANGED

    The November 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 October but was up 1 point (0.9 percent) from November 1996. Since October, lower prices for feed concentrates, complete feeds, replacement livestock, gasoline, and feed grains were partially off- set by higher diesel fuel, farm machinery, agricultural chemical, and LP gas prices.

SUMMARY TABLE
Index
1990-92=100
1996     1997
Oct Nov Oct Nov
Prices Received 112 110 107 107
Prices Paid 115 115 116 116
Ratio 1/ 97 96 92 92
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
November
1996
October
1997
November
1997
November
1996
October
1997
November
1997
Meat animals:
    Hogs $ per cwt 47.40 39.50 34.90 54.40 47.30 45.00
    Cows $ per cwt 27.00 32.10 30.70 28.00 33.10 31.70
    Steers & heifers $ per cwt 48.00 66.60 65.90 68.70 67.30 67.80
    Calves $ per cwt 55.20 82.40 79.30 61.20 84.30 82.70
Milk: 2/
    Sold to plants, all $ per cwt 20.10 17.30 18.00 15.20 14.00 14.30
Poultry:
    Com'l broilers Cents per lb. 42.0 35.0 36.0 40.4 35.0 34.3
    Table eggs Cents per doz. 70.0 47.0 67.0 72.7 53.2 70.9
Citrus, on tree:
    Oranges $ per box 3.54 2.59 1.52 4.30 3.69 2.15
    Grapefruit $ per box 2.58 4.39 2.16 2.93 4.15 2.49
    Limes $ per bu. 2.44 0.63 2.60 2.44 0.63 2.60
    Tangerines $ per box 7.06 7.12 7.55 8.74 7.72 8.01
Field crops:
    Potatoes $ per cwt ** ** ** 4.43 4.96 5.40
    Hay, baled $ per ton ** ** ** 92.00 103.00 101.00
    Tobacco, Type 11-37 Cents per lb. ** 179.0 ** 192.5 178.5 176.0
    Peanuts Cents per lb. 26.9 22.8 25.9 27.1 25.4 23.5
    Corn* $ per bu. 2.66 2.54 2.50
    Oats* $ per bu. 1.85 1.57 1.57
    Cotton* Cents per lb. 69.7 69.6 69.5
    Sorghum* $ per cwt 4.10 4.06 4.00
    Soybeans* $ per bu. 6.90 6.50 6.95
    Wheat, Winter* $ per bu. 4.04 3.42 3.32
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 November Index was 115, unchanged from October but 1.7 percent below November 1996. Price increases from October for oilseeds and potatoes and dry beans offset price decreases for vegetables, feed grains and hay, and fruits.

Food Grains: The November Index, at 123, was down 0.8 percent from the previous month and 11 percent below November 1996. The November all wheat price, at $3.54 per bushel, was down 1 cent from October and 56 cents below the November 1996 price.
Feed Grains & Hay: The November Index was 111, down 1.8 percent from last month and 5.1 percent below November 1996. The corn price, at $2.50 per bushel, was down 4 cents from October and 16 cents below the November 1996 price. The all hay price, at $101.00 per ton, was down $2.00 from October.

Oil-Bearing Crops: The November Index, at 120, was up 8.1 percent from October and 0.8 percent above November 1996. Soybean prices, at $6.95 per bushel, increased 45 cents from October and were 5 cents above November 1996.

Fruit and Nuts: The November all fruit and nuts Index, at 114, was down 12 percent from the previous month and was 8.8 percent below November 1996. Lower prices than last month for apples, lemons, oranges, and grapefruit more than offset higher prices for grapes. Citrus movement increased seasonally as more types of fruit were harvested, processed, and shipped.

Cotton: The November Index, at 115, was unchanged from last month and November 1996. The November cotton price, at 69.5 cents per pound, was down 0.1 cents from October and 0.2 cent per pound below November 1996. Contract deliveries held the price change to a minimum despite increased World and U.S. cotton
production and lower consumption.

Livestock and Products: The November Index, at 98, was up 1.0 percent from the October Index, but down 3.9 percent from November 1996. Compared to a year ago, prices were up for calves, beef cows, and manufacturing grade milk, but were lower for hogs, steers and heifers, fluid grade milk, and poultry.

Meat Animals: The November Index, at 88, was down 1.1 percent from last month and 2.2 percent from a year earlier. The November beef cattle price was $63.10, down 20 cents from last month and 30 cents from a year ago. The November hog price of $45.70 was down $1.60 from October and $8.70 lower than November 1996. Cattle prices continue to be pressured by large feedlot inventories and seasonal culling of cows. Hog prices have fallen in response to lower than expected export demand and seasonal increases in pork production.

Dairy Products: The November Index, at 109, was up 1.9 percent from October but down 6.0 percent from November 1996. The November all milk price, at $14.30 per cwt, was up 30 cents from last year. October milk production was up 1.8 percent from last year. Fluid milk and dairy product prices have increased since October.

Poultry and Eggs: The November Index, at 113, was 4.6 percent above October but 10 percent below a year ago. The November broiler price at 34.3 cents per pound was down 0.7 cents from October, a seasonal decline. Market egg prices increased 17.7 cents to 70.9 cents per dozen due largely to increased holiday demand. Turkey prices increased 2.0 cents to 42.3 cents per pound, reflecting the seasonal upward trend.


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 .42 7 .62 7 .52 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 .67 3 .55 2 .52 7 .79 7 .35 63 .80 63 .60 54 .70 50 .40
Oct 4 .17 3 .55 2 .89 2 .54 6 .95 6 .50 63 .30 63 .30 55 .60 47 .30
Nov 4 .10 3 .54 2 .66 2 .50 6 .90 6 .95 63 .40 63 .10 54 .40 45 .70
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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