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PRICES
December 1, 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-November were mostly higher compared with the entire month of October. Hogs, however, were down $4.20 per cwt from last month and $19.40 less than the previous year. The price for cows at $29.00 per cwt was 70 cents more than a month earlier but $2.00 per cwt below last year. Steers and heifers were up $1.80 from the previous month but $9.00 lower than a year earlier. Calves were $2.80 per cwt higher than last month but $11.60 less than November 1997.

    Milk price estimates for November averaged $20.70 per cwt, 50 cents more than a month earlier and $2.70 higher than last year. Commercial broilers were 42.0 cents per pound, 2.0 cents lower than the previous month but 7.6 cents more than a year earlier. Table eggs at 55.0 cents per dozen were 8.0 cents more than October 1998 but 12.0 cents less than November 1997.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in November was 100 based on 1990-92=100, up 1 point (1.0 percent) from October. Price decreases from October for lettuce, hogs, broilers, and peanuts more than offset price increases for soybeans, milk, eggs, and wheat. The seasonal changes in the mix of commodities farmers sell also affect the overall Index level. Higher seasonal marketings of cotton, milk, cattle, and cottonseed more than offset the relatively lower marketings of soybeans, peanuts, potatoes, and sunflowers. These marketing changes more than offset a decrease in prices and accounted for the one point increase in the overall Index.

    Compared with November 1997, the All Farm Products Index was 7 points (6.5 percent) lower. Price decreases from November 1997 for hogs, corn, soybeans, and lettuce more than offset price increases for milk, broilers, oranges, and tomatoes.

PRICES PAID INDEX UNCHANGED

    
    The November Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 114 percent of the 1990-92 average. The Index was unchanged from October 1998 but 3 points (2.6 percent) below November 1997. Since October, lower prices for complete feeds, hay and forages, feed concentrates, nitrogen fertilizers, and diesel fuel were offset by higher feed grain, gasoline, insecticide, and machinery prices.

SUMMARY TABLE
Index
1990-92=100
    1997 1998
Oct Nov Oct Nov
Prices Received0 107 107 99 100
Prices Paid 117 117 114 114
Ratio 1/ 91 91 87 88
1/ Ratio of Index of Prices Received to Prices Paid.

Average price received by farmers 1/
Commodity Unit Florida United States
November
1997
October
1998
November
1998
November
1997
October
1998
November
1998
Meat animals:
    Hogs $ per cwt 35.50 20.30 16.10 45.10 27.40 19.20
    Cows $ per cwt 31.00 28.30 29.00 31.90 30.50 29.90
    Steers & heifers $ per cwt 66.10 55.30 57.10 68.00 61.40 61.80
    Calves $ per cwt 80.40 66.00 68.80 82.90 75.70 77.60
Milk: 2/
    Sold to plants, all $ per cwt 18.00 20.20 20.70 14.70 17.60 17.90
Poultry:
    Com'l broilers Cents per lb. 34.4 44.0 42.0 33.7 43.9 41.5
    Table eggs Cents per doz. 67.0 47.0 55.0 71.1 53.2 61.0
Citrus, on tree:
    Oranges $ per box ** ** 5.43 2.41 5.42 5.87
    Grapefruit $ per box ** ** 2.55 1.84 3.88 3.19
    Limes $ per bu. 2.38 2.13 2.74 2.38 2.13 2.74
    Tangerines $ per box ** ** 9.79 8.15 9.02 10.42
Field crops:
    Potatoes $ per cwt ** ** ** 5.13 4.47 4.88
    Hay, baled $ per ton ** ** ** 100.00 85.20 81.40
    Tobacco, Type 11-37 Cents per lb. ** 176.0 ** 184.5 186.5 181.0
    Peanuts Cents per lb. 2.81 2.51 2.06 2.50 2.63 2.23
    Corn* $ per bu. 2.51 1.91 1.94
    Oats* $ per bu. 1.66 1.10 1.12
    Cotton* Cents per lb. 67.9 66.4 64.7
    Sorghum* $ per cwt 4.01 2.96 3.12
    Soybeans* $ per bu. 6.86 5.18 5.44
    Wheat, Winter* $ per bu. 3.31 2.66 2.78
`
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 102, up 2.0 percent from October but 11 percent below November 1997. From October, price increases for oilseeds, food grains, and feed grains and hay offset price decreases for vegetables, fruit and nuts, and cotton.

FOOD GRAINS: The November Index, at 106, was up 6.0 percent from the previous month but 14 percent below November 1997. The November all wheat price, at $2.97 per bushel, was up 18 cents from October but 57 cents below November 1997.

FEED GRAINS & HAY: The November Index was 87, up 2.4 percent from last month but 22 percent below November 1997. The corn price, at $1.94 per bushel, was up 3 cents from October but 57 cents below the November 1997 price. The all hay price, at $81.40 per ton, was down $3.80 from last month and $18.60 below November 1997.

OIL-BEARING CROPS: The November Index, at 101, was up 8.6 percent from October but 15 percent below November 1997. Soybean prices, at $5.44 per bushel, increased 26 cents from October but were $1.42 below November 1997.

FRUIT AND NUTS: The November fruit and nuts Index, at 119, was down 5.6 percent from the previous month but up 12 percent from November 1997. Lower prices for apples, lemons, and pears accounted for most of the decrease from October.

COMMERCIAL VEGETABLES: The November Index, at 115, was down 14 percent from last month and 18 percent below November 1997. Lower prices from last month for lettuce, cantaloupes, and broccoli more than offset higher prices for cauliflower, tomatoes, and onions.

LIVESTOCK AND PRODUCTS: The November Index, at 97, was down 1.0 percent from both last month and November 1997. Compared with a year ago, prices were down for hogs, cattle, calves, and eggs, but up for all milk, broilers, and turkeys.

MEAT ANIMALS: The November Index, at 72, was down 4.0 percent from last month and 18 percent below a year ago. The November hog price was $19.20 per cwt, down $8.20 from October and $25.90 below a year ago. The November hog price is the lowest monthly price since November 1971. October hog slaughter was up 7.0 percent from a year ago. The November beef cattle price of $57.90 was down 10 cents from last month and $5.40 below November 1997.

DAIRY PRODUCTS: The November Index, at 137, was up 1.5 percent from October and 21 percent above November 1997. The November all milk price, at $17.90 per cwt, was up 30 cents from October and up $3.20 from last year. The November price is a record price for all milk. October milk production was up 1.3 percent from last year. Prices increased for both fluid and manufacturing grade milk. Cheese prices continued to increase during November.

POULTRY AND EGGS: The November Index, at 124, was 2.4 percent below October but was 11 percent above a year ago. The November broiler price, at 41.5 cents per pound, was down 2.4 cents from October but 7.8 cents above November 1997. The price decrease since October reflects a seasonal decline. Market egg prices increased 7.8 cents to 61.0 cents per dozen since October. Supplies of eggs continue to be adequate while demand is brisk going into the holiday season. Turkey prices increased 1.2 cents to 44.0 cents per pound reflecting the seasonal upward trend and lower frozen stocks.

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 .32 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 .33 2 .79 2 .55 7 .97 6 .40 64 .80 61 .30 49 .40 34 .80
Apr 4 .10 3 .18 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 .77 2 .56 2 .28 8 .16 6 .16 62 .30 61 .80 57 .80 42 .20
Jul 3 .23 2 .56 2 .42 2 .19 7 .52 6 .14 62 .80 58 .40 58 .90 36 .70
Aug 3 .56 2 .39 2 .50 1 .89 7 .25 5 .43 63 .90 57 .40 55 .30 35 .10
Sep 3 .66 2 .41 2 .52 1 .83 6 .72 5 .25 63 .60 56 .10 50 .40 29 .50
Oct 3 .58 2 .79 2 .54 1 .91 6 .50 5 .18 63 .30 58 .00 47 .30 27 .40
Nov 3 .54 2 .97 2 .51 1 .94 6 .85 5 .44 63 .30 57 .90 45 .10 19 .20
Dec 3 .44 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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