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PRICES
March 31, 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-March were mixed compared with the entire month of February. Hogs were up $2.10 per cwt from last month but $6.10 less than a year earlier. The price for cows at $35.00 per cwt was 30 cents below the previous month and $1.10 less than March 1998. Steers and heifers were up $1.90 from the previous month but $3.10 lower than a year earlier. Calves were down $1.80 and $9.30 per cwt from last month and last year, respectively.

    Milk price estimates for March averaged $21.00 per cwt, 20 cents less than a month earlier but $3.70 more than the previous year. Commercial broilers were 36.0 cents per pound, 1.0 cent below last month and last year. Table eggs at 44.0 cents per dozen were 1.0 cent below the previous month and 10.0 cents less than a year earlier.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in March was 97 based on 1990-92=100, up 1 point (1.0 percent) from February. This is a usual February to March increase due to the seasonal changes in the mix of commodities farmers sell. Higher seasonal marketings of strawberries, milk, broilers, and tomatoes more than offset the relatively lower marketings of cattle, cotton, oranges, and corn. Price decreases from February for milk,
soybeans, broilers, and hogs more than offset price increases for cattle, lettuce, oranges, and eggs.

    Compared with March 1998, the All Farm Products Index was 5 points (4.9 percent) lower. Price decreases from March 1998 for soybeans, corn, hogs, and wheat more than offset price increases for milk, lettuce, strawberries, and carrots.

PRICES PAID INDEX UNCHANGED

    
The March 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 February but 1 point (0.9 percent) below March 1998. Since February, lower prices for feeder cattle, complete feeds, feed concentrates, herbicides, and feed supplements were offset by higher prices for diesel fuel, gasoline, feeder pigs, insecticides, and potash and phosphate fertilizers.

SUMMARY TABLE
Index
1990-92=100
    1998     1999
Feb Mar Feb Mar
Prices Received 101 102 96 97
Prices Paid 117 116 115 115
Ratio 1/ 86 88 83 84
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
March
1998
February
1999
March
1999
March
1998
February
1999
March
1999
Meat animals:
    Hogs $ per cwt 31.60 23.40 25.50 34.90 27.60 26.50
    Cows $ per cwt 36.10 35.30 35.00 36.00 34.70 34.70
    Steers & heifers $ per cwt 72.00 67.00 68.90 64.30 63.60 65.50
    Calves $ per cwt 90.80 83.30 81.50 89.80 86.90 86.50
Milk: 2/
    Sold to plants, all $ per cwt 17.30 21.20 21.00 14.40 15.50 15.00
Poultry:
    Com'l broilers Cents per lb. 37.0 37.0 36.0 35.2 36.6 35.8
    Table eggs Cents per doz. 54.0 45.0 44.0 57.1 50.1 53.1
. Citrus, on tree:
    Oranges $ per box 4.73 5.36 5.36 5.14 5.60 6.02
    Grapefruit $ per box 0.22 1.41 1.50 0.41 1.60 1.67
    Limes $ per bu. ** 15.31 40.31 ** 15.31 40.31
    Tangerines $ per box 8.72 13.77 14.41 8.68 14.27 13.49
Field crops:
    Potatoes $ per cwt 30.00 25.50 25.40 6.41 5.61 5.82
    Hay, baled $ per ton ** ** ** 95.30 79.00 78.50
    Tobacco, Type 11-37 Cents per lb. ** ** ** 181.0 195.0 195.0
    Peanuts Cents per lb. ** ** ** ** ** **
    Corn* $ per bu. 2.55 2.05 2.04
    Oats* $ per bu. 1.64 1.20 1.20
    Cotton* Cents per lb. 63.9 56.0 54.4
    Sorghum* $ per cwt 4.02 3.16 3.13
    Soybeans* $ per bu. 6.40 4.80 4.55
    Wheat, Winter* $ per bu. 3.16 2.56 2.56
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 March Index was 100, up 1.0 percent from February but 9.9 percent below March 1998. From February, price increases for vegetables and potatoes and dry beans more than offset price decreases for oilseeds, cotton, and feed grains and hay.

FOOD GRAINS: The March Index, at 101, was unchanged from the previous month but was 14 percent below March 1998. The March all wheat price, at $2.74 per bushel, was unchanged from February but 59 cents below March 1998.

FEED GRAINS & HAY: The March Index was 91, unchanged from last month but 19 percent below March 1998. The corn price, at $2.04 per bushel, was down 1 cent from February and 51 cents below the March 1998 price. The all hay price, at $78.50 per ton, was down 50 cents from last month and $16.80 below March 1998.

OIL-BEARING CROPS: The March Index, at 82, was down 6.8 percent from February and 28 percent below March 1998. The soybean price, at $4.55 per bushel, decreased 25 cents from February and was $1.85 below March 1998. This was the lowest monthly price since October 1986.

FRUIT AND NUTS: The March fruit and nuts Index, at 107, was up 5.9 percent from the previous month and 14 percent above March 1998. An increase in the price of oranges offset price declines for strawberries and lemons.

COMMERCIAL VEGETABLES: The March Index, at 119, was up 3.5 percent from last month but was 4.0 percent below March 1998. Price increases for lettuce, carrots, sweet corn, and cauliflower more than offset price declines for onions, tomatoes, and asparagus.

LIVESTOCK AND PRODUCTS: The March Index, at 94, was unchanged from last month but down 1.1 percent from March 1998. Compared with a year ago, prices were down for hogs, calves, and eggs, but up for cattle, all milk, broilers, and turkeys.

MEAT ANIMALS: The March Index, at 78, was up 1.3 percent from last month but 4.9 percent below a year ago. The March hog price was $26.50 per cwt, down $1.10 from February and $8.40 below a year ago. The March beef cattle price, of $62.10, was up $1.50 from last month and 80 cents above February 1998.

POULTRY AND EGGS: The March Index, at 109, was unchanged from February but 0.9 percent above a year ago. The March broiler price, at 35.8 cents per pound, was down 0.8 cent from February. An increase in domestic demand for eggs over shadowed a weak export market, with market egg prices rising 3.0 cents to 53.1 cents per dozen. Supplies of eggs continue to be 2 to 3 percent above a year ago. Turkey prices increased 1.3 cents to 37.0 cents per pound. Cold storage holdings were considerably below last year's levels.

DAIRY PRODUCTS: The March Index, at 115, was down 3.4 percent from February but was 4.5 percent above March 1998. The March all milk price, at $15.00 per cwt, was down $0.50 from February but up $0.60 from last year. February milk production was up 4.3 percent from last year. Prices decreased for both fluid and manufacturing grade milk. Cheese prices were steady during March following sharp declines during January and 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 .74 2 .55 2 .05 6 .57 4 .80 60 .40 60 .60 35 .90 27 .60
Mar 3 .33 2 .74 2 .55 2 .04 6 .40 4 .55 61 .30 62 .10 34 .90 26 .50
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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