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PRICES
December 31, 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-December were mostly higher compared with the entire month of November. Hogs, however, were down $1.40 per cwt from last month and $21.50 less than the previous year. The price for cows at $30.30 per cwt was 30 cents more than a month earlier but $2.70 per cwt below last year. Steers and heifers were up $3.40 from the previous month but $6.60 lower than a year earlier. Calves were $4.30 per cwt higher than last month but $9.60 less than December 1997.

    Milk price estimates for December averaged $21.00 per cwt, 30 cents more than a month earlier and $3.10 higher than last year. Commercial broilers were 39.0 cents per pound, 3.0 cents lower than the previous month but 5.0 cents more than a year earlier. Table eggs at 60.0 cents per dozen were 5.0 cents more than November 1998 and 4.0 cents more than December 1997.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in December was 98 based on 1990-92=100, down 2 points (2.0 percent) from November. Price decreases from November for cattle, hogs, broilers, and soybeans more than offset price increases for corn, milk, tomatoes, and eggs. The seasonal changes in the mix of commodities farmers sell also affect the overall Index level; however, these changes were essentially offsetting in December.

    Compared with December 1997, the All Farm Products Index was 7 points (6.7 percent) lower. Price decreases from December 1997 for hogs, corn, cattle, and soybeans more than offset price increases for milk, broilers, oranges, and tomatoes.

PRICES PAID INDEX UNCHANGED

    The December 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 November 1998 but 3 points (2.6 percent) below December 1997. Since November, lower prices for fuels, fertilizer, livestock, and chemicals offset higher prices for feed and autos and trucks.

SUMMARY TABLE
Index
1990-92=100
    1997 1998
Nov Dec Nov Dec
Prices Received 107 105 100 98
Prices Paid 117 117 114 114
Ratio 1/ 91 90 88 86
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
Dec
1997
Nov
1998
Dec
1998
Dec
1997
Nov
1998
Dec
1998
Meat animals:
    Hogs $ per cwt 36.20 16.10 14.70 41.60 18.70 14.70
    Cows $ per cwt 33.00 30.00 30.30 33.00 29.70 29.70
    Steers & heifers $ per cwt 67.20 57.20 60.60 66.80 62.30 59.40
    Calves $ per cwt 83.60 69.70 74.00 83.30 77.50 79.50
Milk: 2/
    Sold to plants, all $ per cwt 17.90 20.70 21.00 14.80 17.90 18.10
Poultry:
    Com'l broilers Cents per lb. 34.0 42.0 39.0 32.1 41.5 39.0
    Table eggs Cents per doz. 56.0 55.0 60.0 68.0 61.0 62.9
Citrus, on tree:
    Oranges $ per box 3.96 5.43 4.44 2.81 5.87 4.74
    Grapefruit $ per box 1.61 2.55 2.07 1.94 3.19 2.70
    Limes $ per bu. 7.61 2.74 3.08 7.61 2.74 3.08
    Tangerines $ per box 6.87 9.79 10.93 7.85 10.42 11.30
Field crops:
    Potatoes $ per cwt ** 4.20 4.55 5.29 4.81 5.08
    Hay, baled $ per ton ** ** ** 95.20 81.40 78.40
    Tobacco, Type 11-37 Cents per lb. ** ** ** 192.0 190.5 191.5
    Peanuts Cents per lb. ** 2.02 2.47 3.07 2.15 2.15
    Corn* $ per bu. 2.52 1.93 1.96
    Oats* $ per bu. 1.57 1.10 1.07
    Cotton* Cents per lb. 63.8 65.1 63.6
    Sorghum* $ per cwt 3.94 3.05 3.06
    Soybeans* $ per bu. 6.72 5.40 5.27
    Wheat, Winter* $ per bu. 3.24 2.78 2.73
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 December Index was 100, down 2.0 percent from November and 9.9 percent below December 1997. From November, price decreases for fruit and nuts, cotton, oilseeds, and vegetables more than offset price increases for feed grains, hay, potatoes, and dry beans.

FOOD GRAINS: The December Index, at 102, was down 2.9 percent from the previous month and 14 percent below December 1997. The December all wheat price, at $2.90 per bushel, was down 7 cents from November and 54 cents below December 1997.

FEED GRAINS & HAY: The December Index was 88, up 2.3 percent from last month but 21 percent below December 1997. The corn price, at $1.96 per bushel, was up 3 cents from November but 56 cents below the December 1997 price. The all hay price, at $78.40 per ton, was down $3.00 from last month and $16.80 below December 1997.

OIL-BEARING CROPS: The December Index, at 100, was down 1.0 percent from November and 16 percent below December 1997. Soybean prices, at $5.27 per bushel, decreased 13 cents from November and were $1.45 below December 1997.

FRUIT AND NUTS: The December fruit and nuts Index, at 95, was down 20 percent from the previous month but up 8.0 percent from December 1997. Lower prices for or anges, apples, lemons, and grapes accounted for most of the decrease from November.

COMMERCIAL VEGETABLES: The December Index, at 109, was down 1.8 percent from last month and 18 percent below December 1997. Lower prices from last month for celery, snap beans, cauliflower, and broccoli more than offset higher prices for tomatoes, lettuce, and onions.

LIVESTOCK AND PRODUCTS: The December Index, at 96, was down 1.0 percent from both last month and December 1997. Compared with a year ago, prices were down for hogs, cattle, eggs, and calves but up for all milk, broilers, and turkeys.

MEAT ANIMALS: The December Index, at 65, was down 10 percent from last month and 25 percent below a year ago. The December hog price, at $14.70 per cwt, was down $4.00 from November and $26.90 below a year ago. The last time prices were lower was November 1964, at $14.30 per cwt. November hog slaughter was up 14 percent from a year ago. The December beef cattle price of $55.80 was down $2.30 from last month and $7.10 below December 1997.

POULTRY AND EGGS: The December Index, at 120, was 3.2 percent below November but 12 percent above a year ago. The December broiler price at 39.0 cents per pound was down 2.5 cents from November, a seasonal decline. Market egg prices increased 1.9 cents to 62.9 cents per dozen. November market egg production was up 2 percent. Turkey prices decreased 2.9 cents to 41.1 cents per pound, following the seasonal decline toward the end of the holiday season but domestic demand remains strong seasonally.

DAIRY PRODUCTS: The December Index, at 139, was up 1.5 percent from November and was 23 percent above December 1997. The December all milk price, at $18.10 per cwt, was up 20 cents from November, and up $3.30 from last year. This is a record price for all milk. November milk production was up 3.0 percent from last year. Prices increased for fluid milk and cheese during December.

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 .49 5 .18 63 .30 58 .00 47 .30 27 .40
Nov 3 .54 2 .97 2 .51 1 .93 6 .86 5 .40 63 .30 58 .10 45 .10 18 .70
Dec 3 .44 2 .90 2 .52 1 .96 6 .72 5 .27 62 .90 55 .80 41 .60 14 .70
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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