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PRICES
June 30, 1998

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 lower compared with the entire month of May. Hogs were down $3.60 per cwt from last month and $10.10 less than the previous year. The price for cows at $35.30 per cwt was $1.80 less than a month earlier and 30 cents below last year. Steers and heifers were down $5.10 and $9.40 per cwt from last month and last year, respec tively. Calves were down $7.00 from the previous month and $11.00 less than June 1997.

    Milk price estimates for June averaged $16.00 per cwt, 70 cents less than a month earlier but 20 cents higher than last year. Commercial broilers at 41.0 cents per pound were 3.0 cents higher than last month and 3.4 cents more than a year earlier. Table eggs at 41.0 cents per dozen were 1.0 cent more than the previous month but 4.0 cents less than June 1997.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in June was 101 based on 1990-92=100, down 2 points (1.9 percent) from May. Price decreases from May for cantaloupes, lettuce, corn, and tomatoes more than offset price increases for broilers, milk, oranges, and eggs. The seasonal changes in the mix of commodi ties farmers sell also affect the overall Index level; however, these changes were essentially offsetting in June.

    Compared with June 1997, the All Farm Products Index was 6 points (5.6 percent) lower. Price decreases from June 1997 for wheat, hogs, soybeans, and corn more than offset price increases for milk, broilers, peaches, and potatoes.

PRICES PAID INDEX DOWN 1 POINT

    The June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 115 percent of the 1990-92 average. The Index was down 1 point (0.9 percent) from May 1998 and 2 points (1.7 percent) below June 1997. Since May, lower prices for replacement livestock, feed grains and hay, feed supplements, complete feeds, feed concentrates, and herbi cides more than offset higher prices for gasoline, nitrogen fertilizers, diesel fuel, phosphate and potash materials, and L.P. gas.

SUMMARY TABLE
Index
1990-92=100
    1997 1998
May June May June
Prices Received 108 107 103 101
Prices Paid 118 117 116 115
Ratio 1/ 92 91 89 88
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
June
1997
May
1998
June
1998
June
1997
May
1998
June
1998
Meat animals:
    Hogs $ per cwt 49.30 42.80 39.20 57.80 42.20 42.50
    Cows $ per cwt 35.60 37.10 35.30 37.50 36.40 36.0
    Steers & heifers $ per cwt 73.00 68.70 63.60 64.90 66.30 64.50
    Calves $ per cwt 91.00 87.00 80.00 85.40 88.90 85.00
Milk: 2/
    Sold to plants, all $ per cwt 15.80 16.70 16.00 12.20 13.20 13.50
Poultry:
    Com'l broilers Cents per lb. 37.6 38.0 41.0 37.4 36.9 40.3
    Table eggs Cents per doz. 45.0 40.0 41.0 44.9 39.0 44.9
Citrus, on tree:
    Oranges $ per box 4.66 5.35 5.94 5.11 5.68 6.41
    Grapefruit $ per box 0.60 ** ** 1.94 0.42 3.58
    Limes $ per bu. 1.39 4.06 4.59 1.39 4.06 4.59
    Tangerines $ per box ** ** ** ** 0.16 **
Field crops:
    Potatoes $ per cwt 11.40 11.50 10.60 4.62 67.5 6.06
    Hay, baled $ per ton ** ** ** 108.00 103.00 91.80
    Tobacco, Type 11-37 Cents per lb. ** ** ** ** ** **
    Peanuts Cents per lb. ** ** ** ** ** **
    Corn* $ per bu. 2.56 2.34 2.20
    Oats* $ per bu. 1.81 1.53 1.50
    Cotton* Cents per lb. 67.1 63.5 66.5
    Sorghum* $ per cwt 4.10 3.71 3.60
    Soybeans* $ per bu. 8.16 6.26 6.01
    Wheat, Winter* $ per bu. 3.42 2.90 2.63
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.
*** Price not published to avoid disclosure of individual buyers.


HIGHLIGHTS--U.S. PRICES RECEIVED INDEXES

ALL CROPS: The June Index was 106, down 6.2 percent from May and 11 percent below June 1997. From May, price decreases for vegetables, feed grains and hay, food grains, and oilseeds more than offset price increases for fruit and nuts and cotton.

FOOD GRAINS: The June Index, at 95, was down 13 percent from the previous month and 21 percent below June 1997. The June all wheat price, at $2.72 per bushel, was down 34 cents from May and 80 cents below the June 1997 price.

FEED GRAINS & HAY: The June Index was 102, down 5.6 percent from last month and 14 percent below June 1997. The corn price, at $2.20 per bushel, was down 14 cents from May and 36 cents below the June 1997 price. The all hay price, at $91.80 per ton, was down $11.20 from May.

OIL-BEARING CROPS: The June Index, at 109, was down 2.7 percent from May and 25 percent below June 1997. Soybean prices, at $6.01 per bushel, decreased 25 cents from May and were $2.15 below June 1997.

POTATOES AND DRY BEANS: The June potatoes and dry beans Index, at 105, was down from the previous month but up 24 percent from June 1997. During June continued movement of fall potatoes and delayed harvest of spring potatoes has resulted in overall lower prices.

COMMERCIAL VEGETABLES: The June Index, at 109, was down 15 percent from last month and 6.0 percent below June 1997. Lower prices from last month for cantaloupes, lettuce, tomatoes, and sweet corn more than offset higher prices for cucumbers and snap beans. The lower prices resulted from increased supplies, while the higher prices were the result of the winding down of harvest in Georgia and Florida.

LIVESTOCK AND PRODUCTS: The June Index, at 97, was up 2.1 percent from the May Index but unchanged from June 1997. Compared with a year ago, prices were up for milk, broilers, and eggs but were lower for beef cows, calves, steers and heifers, hogs, and turkeys.

MEAT ANIMALS: The June Index, at 86, was down 1.1 percent from last month and down 8.5 percent from a year earlier. The June hog price was $42.50 per cwt, up 30 cents from May but $15.30 below a year ago. The June beef cattle price of $61.70 was down $1.30 from last month and 60 cents below June 1997. Year to date cattle slaughter is down 4 percent, but heavier slaughter weights have kept beef production slightly above last year and resulted in lower cattle prices.

DAIRY PRODUCTS: The June Index, at 103, was up 2.0 percent from May and was 11 percent above June 1997. The June all milk price, at $13.50 per cwt, was up 30 cents from May and up $1.30 from last year. May milk production was up 2.1 percent from last year. Prices increased for both fluid and manufacturing grade milk. Cheese prices also increased during June.

POULTRY AND EGGS: The June Index, at 115, was up 7.5 percent from May and 3.6 percent above a year ago. The June broiler price, at 40.3 cents per pound, increased 3.4 cents from May. Market egg prices increased 5.9 cents to 44.9 cents per dozen, rebounding from the 10.6 cents drop in May. Turkey prices increased 0.5 cents to 35.9 cents per pound. Weekly broiler placements have been running about 1 percent above a year ago and May egg production was up 2 percent from a year earlier. The broiler price increased seasonally. Cold storage holdings of turkeys were 1 percent higher than May 31, 1997.

Prices received for Selected Agricultural Commodities, by months,
United States, 1997 and 1998
Month All wheat Corn Soybeans Beef cattle 1/ All hogs
1997 1998 2/ 1997 1998 2/ 1997 1998 2/ 1997 1998 2/ 1997 1998 2/
Dollars per bushel Dollars per cwt
Jan 4 .02 3 .33 2 .69 2 .56 7 .13 6 .69 61 .40 62 .50 53 .80 36 .00
Feb 3 .89 3 .27 2 .65 2 .55 7 .38 6 .57 61 .90 60 .40 52 .80 35 .70
Mar 3 .93 3 .32 2 .79 2 .54 7 .97 6 .40 64 .80 61 .30 49 .40 34 .80
Apr 4 .10 3 .15 2 .80 2 .41 8 .23 6 .26 64 .80 63 .00 53 .80 35 .60
May 4 .08 3 .06 2 .69 2 .34 8 .40 6 .26 65 .10 63 .00 58 .20 42 .20
Jun 3 .52 2 .72 2 .56 2 .20 8 .16 6 .01 62 .30 61 .70 57 .80 42 .50
Jul 3 .23 2 .42 7 .52 62 .80 58 .90
Aug 3 .56 2 .50 7 .25 63 .90 55 .30
Sep 3 .67 2 .52 6 .72 63 .60 50 .40
Oct 3 .55 2 .54 6 .50 63 .30 47 .30
Nov 3 .50 2 .51 6 .85 63 .30 45 .10
Dec 3 .45 2 .52 6 .71 62 .90 41 .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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