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PRICES
March 1, 1999

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-February were mixed compared with the entire month of January. Hogs were down $4.70 and $9.30 per cwt from last month and last year respectively. The price for cows at $35.40 per cwt was 30 cents more than a month earlier but $2.00 less than the previous year. Steers and heifers were unchanged from the previous month but $7.80 less than a year earlier. Calves remained the same as the previous month but $8.90 below February 1998.

    Milk price estimates for February averaged $21.30 per cwt, 30 cents more than a month earlier and $3.60 more than the previous year. Commercial broilers were 37.0 cents per pound, 1.0 cent lower than last month but 2.0 cents higher than a year earlier. Table eggs at 45.0 cents per dozen were 4.0 cents less than January 1999 and 7.0 cents less lower than February 1998.

U.S. PRICE INDEXES

    The All Farm Products Index of Prices Received in February was 96 based on 1990-92=100, down 1 point (1.0 percent) from January. Price decreases from January for milk, soybeans, tomatoes, and corn more than offset price increases for cattle, hogs, oranges, and potatoes. The seasonal changes in the mix of commodities farmers sell also affect the overall Index level. Higher seasonal marketings of milk, cattle, broilers, and eggs more than offset the relatively lower marketings of corn, soybeans, tobacco, and cotton. These seasonal marketing changes limited the decline in the overall Index.

    Compared with February 1998, the All Farm Products Index was 5 points (5.0 percent) lower. Price decreases from February 1998 for corn, soybeans, hogs, and wheat more than offset price increases for milk, oranges, broilers, and almonds.

PRICES PAID INDEX UNCHANGED

    
    The February 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 unchanged from January but 2 points (1.7 percent) below February 1998. Since January, lower prices for herbicides, feed grains, and LP gas were offset by higher prices for feeder pigs, feeder cattle, gasoline, and feed concentrates.


SUMMARY TABLE
Index
1990-92=100
    1998     1999
Jan Feb Jan Feb
Prices Received 103 101 97 96
Prices Paid 117 117 115 115
Ratio 1/ 88 86 84 83
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity     Unit     Florida United States
February
1998
January
1999
February
1999
February
1998
January
1999
February
1999
Meat animals:
    Hogs $ per cwt 31.40 26.80 22.10 35.90 26.30 28.10
    Cows $ per cwt 37.40 35.10 35.40 36.00 33.40 34.60
    Steers & heifers $ per cwt 73.80 66.00 66.00 63.30 62.20 63.20
    Calves $ per cwt 89.40 80.50 80.50 88.70 83.20 87.30
Milk: 2/
    Sold to plants, all $ per cwt 17.70 21.00 21.30 14.70 17.40 16.00
Poultry:
    Com'l broilers Cents per lb. 35.0 38.0 37.0 34.4 37.9 36.6
    Table eggs Cents per doz. 52.0 49.0 45.0 51.1 58.2 50.1
. Citrus, on tree:
    Oranges $ per box 3.36 4.98 5.36 3.73 5.15 5.60
    Grapefruit $ per box 0.49 1.47 1.41 0.77 1.80 1.60
    Limes $ per bu. ** 12.19 15.31 ** 12.19 15.31
    Tangerines $ per box 7.92 15.27 13.77 7.93 17.19 14.27
Field crops:
    Potatoes $ per cwt 31.50 32.70 32.70 5.25 5.32 5.75
    Hay, baled $ per ton ** ** ** 96.10 78.80
    Tobacco, Type 11-37 Cents per lb. ** ** ** 191.5 192.5 196.5
    Peanuts Cents per lb. ** ** ** ** 2.55 2.87
    Corn* $ per bu. 2.55 2.06 2.01
    Oats* $ per bu. 1.60 1.21 1.16
    Cotton* Cents per lb. 62.5 58.3 57.1
    Sorghum* $ per cwt 4.05 3.05 3.04
    Soybeans* $ per bu. 6.57 5.32 4.83
    Wheat, Winter* $ per bu. 3.16 2.67 2.52
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 February Index was 97, down 1.0 percent from January and 11 percent below February 1998. From January, price decreases for oilseeds, vegetables, feed grains, and food grains more than offset price increases for potatoes and dry beans, tobacco, and fruit and nuts.

FOOD GRAINS: The February Index, at 101, was un changed from the previous month but was 14 percent below February 1998. The February all wheat price, at $2.72 per bushel, was down 8 cents from January and 55 cents below February 1998.

FEED GRAINS & HAY: The February Index was 90, was down 1.1 percent from last month and 20 percent below February 1998. The corn price, at $2.01 per bushel, was down 5 cents from January and 54 cents below the Febru ary 1998 price. The all hay price, at $79.00 per ton, was up 20 cents from last month but was $17.10 below Febru ary 1998.

OIL-BEARING CROPS: The February Index, at 88, was down 8.3 percent from January and 25 percent below February 1998. The soybean price, at $4.83 per bushel, decreased 49 cents from January and was $1.74 below February 1998. This was the lowest monthly soybean price since March 1987.

FRUIT AND NUTS: The February fruit and nuts Index, at 100, was unchanged from the previous month but up 15 percent from February 1998. An increase in the price of oranges offset declines in most other fruit prices.

COMMERCIAL VEGETABLES: The February Index, at 97, was down 9.3 percent from last month and was 17 percent below February 1998. Carrots, cauliflower, and snap beans
were, the only vegetables with price increases from last month.

LIVESTOCK AND PRODUCTS: The February Index, at 95, was down 1.0 percent from last month but up 1.1 percent from February 1998. Compared with a year ago, prices were down for hogs, cattle, and calves but up for all milk, broilers, turkeys, and eggs.

MEAT ANIMALS: The February Index, at 77, was up 2.7 percent from last month but 6.1 percent below a year ago. The February hog price was $28.10 per cwt, up $1.80 from January but $7.80 below a year ago. The February beef cattle price of $60.20 was up $1.20 from last month but 20 cents below February 1998. Market hog supplies continue to decline and cattle in feedlots were down 3 percent on February 1.

POULTRY AND EGGS: The February Index, at 109, was 4.4 percent below January but 4.8 percent above a year ago. The February broiler price, at 36.6 cents per pound, was down 1.3 cents from January, with demand declining seasonally. Softer domestic demand and the weak export market decreased market egg prices 8.1 cents to 50.1 cents per dozen. Supplies of eggs continue to be above a year ago. Turkey prices increased 0.9 cent to 35.7 cents per pound as storage supplies and placements continue to run below a year earlier.

DAIRY PRODUCTS: The February Index, at 123, was down 7.5 percent from January but 8.8 percent above February 1998. The February all milk price, at $16.00 per cwt, was down $1.40 from January but up $1.30 from last year. January milk production was up 3.7 percent from last year. Prices decreased for both fluid and manufacturing grade milk. Cheese prices decreased during February.


Prices received for Selected Agricultural Commodities, by months,
United States, 1998 and 1999
Month All wheat Corn Soybeans Beef cattle 1/ All hogs
1998 1999 2/ 1998 1999 2/ 1998 1999 2/ 1998 1999 2/ 1998 1999 2/
Dollars per bushel Dollars per cwt
Jan 3 .32 2 .80 2 .56 2 .06 6 .69 5 .32 62 .50 59 .00 36 .00 26 .30
Feb 3 .27 2 .72 2 .55 2 .01 6 .57 4 .83 60 .40 60 .20 35 .90 28 .10
Mar 3 .33 2 .55 6 .40 61 .30 34 .90
Apr 3 .18 2 .41 6 .26 63 .00 35 .60
May 3 .06 2 .34 6 .26 63 .00 42 .30
Jun 2 .77 2 .28 6 .16 61 .80 42 .40
Jul 2 .56 2 .19 6 .14 58 .40 36 .90
Aug 2 .39 1 .89 5 .43 57 .40 35 .20
Sep 2 .41 1 .83 5 .25 56 .10 29 .50
Oct 2 .79 1 .91 5 .18 58 .00 27 .80
Nov 2 .97 1 .93 5 .40 58 .10 18 .80
Dec 2 .87 2 .01 5 .37 56 .80 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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