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PRICES
May 4, 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-April were mixed compared with the entire month of March. Hogs were down 70 cents per cwt from last month and $8.40 below a year ago. The price for cows at $34.30 per cwt was $1.10 less than the previous month and $3.00 below April 1998. Steers and heifers were up $1.70 from last month but $6.60 below a year earlier. Calves were $4.50 more than the previous month but $7.20 below last year.

    Milk price estimates for April averaged $14.00 per cwt, $6.20 less than a month earlier and $3.00 lower than last year. Commercial broilers were 34.0 cents per pound, 2.0 cents below last month and 3.5 cents less than the previous year. Table eggs at 37.0 cents per dozen were 7.0 cents lower than the previous month and 10.0 cents less than April 1998.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in April was 98 based on 1990-92=100, up 1 point (1.0 percent) from March. The increase is due to the seasonal change in the mix of commodities farmers sell. The normal increase in marketings of strawberries, cattle, oranges, and milk more than offset the relatively lower marketings of soybeans, corn, wheat, and hogs. The change in marketings also more than offset a decline in overall
prices. Price decreases from March for milk, eggs, broilers, and corn more than offset price increases for lettuce, hogs, onions, and carrots.

    Compared with April 1998, the All Farm Products Index was 6 points (5.8 percent) lower. Price decreases from April 1998 for corn, soybeans, milk, and hogs more than offset price increases for strawberries, carrots, lettuce, and grapefruit.

PRICES PAID INDEX UNCHANGED

    The April Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 116 percent of the 1990-92 average. The Index was unchanged from March but 2 points (1.7 percent) below April 1998. Since March, lower prices for feed grains, and seeds were offset by higher prices for feed supplements, complete feeds, hays and forages, and diesel fuel.

SUMMARY TABLE
Index
1990-92=100
    1998     1999
Apr May Apr May
Prices Received 102 104 97 98
Prices Paid 118 118 116 116
Ratio 1/ 86 88 84 84
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
April
1998
March
1999
April
1999
April
1998
March
1999
April
1999
Meat animals:
  Hogs $ per cwt 34.00 26.30 25.60 36.60 27.80 30.50
  Cows $ per cwt 37.30 35.40 34.30 36.20 35.20 35.10
  Steers & heifers $ per cwt 74.10 65.80 67.50 66.30 65.50 65.30
  Calves $ per cwt 94.20 82.50 87.00 90.80 87.30 88.40
Milk: 2/
  Sold to plants, all $ per cwt 17.00 20.20 14.00 14.00 15.00 13.00
Poultry:
  Com'l broilers Cents per lb. 37.5 36.0 34.0 36.4 35.8 34.3
  Table eggs Cents per doz. 47.0 44.0 37.0 49.5 53.1 43.2
Citrus, on tree:
  Oranges $ per box 5.10 5.36 5.60 5.79 6.02 5.82
  Grapefruit $ per box 0.14 1.50 2.08 0.40 1.67 2.23
  Limes $ per bu. 9.06 40.31 27.81 9.06 40.31 27.81
  Tangerines $ per box 18.16 14.41 19.54 15.29 13.49 17.26
Field crops:
  Potatoes $ per cwt 16.50 23.30 15.60 6.27 5.81 6.47
  Hay, baled $ per ton ** ** ** 98.00 78.50 81.90
  Tobacco, Type 11-37 Cents per lb. ** ** ** 169.5 196.5 163.0
  Peanuts Cents per lb. ** ** ** ** ** **
  Corn* $ per bu. 2.41 2.06 1.97
  Oats* $ per bu. 1.61 1.21 1.20
  Cotton* Cents per lb. 63.6 55.3 55.7
  Sorghum* $ per cwt 3.77 3.17 3.01
  Soybeans* $ per bu. 6.26 4.61 4.59
  Wheat, Winter* $ per bu. 2.94 2.53 2.51
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 April Index was 106, up 7.1 percent from March but 7.0 percent below April 1998. From March, price increases for vegetables, potatoes and dry beans, and fruits and nuts more than offset price decreases for feed grains and hay, tobacco, and oilseeds.

FOOD GRAINS: The April Index, at 98, was unchanged from the previous month but was 14 percent below April 1998. The April all wheat price, at $2.71 per bushel, was up 6 cents from March but 47 cents below April 1998.

FEED GRAINS & HAY: The April Index was 89, down 3.3 percent from last month and 18 percent below April 1998. The corn price, at $1.97 per bushel, was down 9 cents from March and 44 cents below the April 1998 price. The all hay price, at $81.90 per ton, was up $3.40 from last month but was $16.10 below April 1998.

OIL-BEARING CROPS: The April Index, at 83, was un changed from March but 26 percent below April 1998. The soybean price, at $4.59 per bushel, decreased 2 cents from March and was $1.67 below April 1998. This was the lowest monthly price since October 1986.

FRUIT AND NUTS: The April fruit and nuts Index, at 116, was up 10 percent from the previous month and up 15 percent from April 1998. Increases in the prices of straw berries, grapefruit, and lemons offset declines in apple and orange prices.

COMMERCIAL VEGETABLES: The April Index, at 144, was up 24 percent from last month but was 2.0 percent below April 1998. Price increases for lettuce, onions, and carrots more than offset price declines for asparagus, sweet corn, and cucumbers.

LIVESTOCK AND PRODUCTS: The April Index, at 90, was down 5.3 percent from both last month and April 1998. Compared with a year ago, prices were down for milk, hogs, broilers, cattle, eggs, and calves but up for turkeys.    

MEAT ANIMALS: The April Index, at 80, was up 1.3 percent from last month but 4.8 percent below a year ago. The April hog price was $30.50 per cwt, up $2.70 from March but $5.10 below a year ago. Hog slaughter is still running 2-3 percent above a year ago. The April beef cattle price of $62.10 was down 30 cents from last month and 90 cents below April 1998 as placements and cattle on feed numbers are above a year ago.

POULTRY AND EGGS: The April Index, at 104, was 4.6 percent below both March and a year ago. The April broiler price, at 34.3 cents per pound, was down 1.5 cents from March. Second quarter 1999 broiler production is expected to be up 6 percent. A decrease in domestic demand for eggs, along with the weak export market, decreased market egg prices 9.9 cents to 43.2 cents per dozen. March market egg production was up 3 percent from a year earlier. Turkey prices increased 1.7 cents to 38.7 cents per pound. Cold storage holdings of turkeys continue to be well below last year.

DAIRY PRODUCTS: The April Index, at 100, was down 13 percent from March and 6.5 percent below April 1998. The April all milk price, at $13.00 per cwt, was down $2.00 from March and down $1.00 from last year. March milk production was up 4.0 percent from last year. April prices decreased for both fluid and manufacturing grade milk. Cheese prices were steady during April.


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 .65 2 .55 2 .06 6 .40 4 .61 61 .30 62 .40 34 .90 26 .50
Apr 3 .18 2 .71 2 .41 1 .97 6 .26 4 .59 63 .00 62 .10 35 .60 30 .50
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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