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PRICES
June 2, 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-May were mixed compared with the entire month of April. Hogs were up $2.70 per cwt from last month but $14.50 less than a year ago. The price for cows at $36.30 per cwt was $2.20 more than the previous month but 80 cents below May 1998. Steers and heifers were down $1.50 and $3.40 per cwt from last month and last year, respectively. Calves were $1.30 less than the previous month and $2.40 below last year.

    Milk price estimates for May averaged $16.00 per cwt, $1.50 more than the previous month and year. Commercial broilers at 38.0 cents per pound, were 4.0 cents higher than last month and 0.5 cents less than last year. Table eggs at 28.0 cents per dozen were 9.0 cents lower than a month earlier and 6.0 cents less than May 1998.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in May was 99 based on 1990-92=100, up 3 points (3.1 percent) from April. The Index increase was due to the seasonal change in the mix of commodities farmers sell. The normal increase in marketings of cantaloupes, grapes, peaches, and sweet corn in May more than offset the relatively lower marketings of cattle, milk, cotton, and oranges. The change in marketings was accompanied by a slight increase in overall prices. Price increases from April for hogs,
broilers, oranges, and hay more than offset price decreases for lettuce, strawberries, cattle, and eggs.

    Compared with May 1998, the All Farm Products Index was 4 points (3.9 percent) lower. Price decreases from May 1998 for soybeans, corn, hogs, and wheat more than offset price increases for peaches, carrots, cucumbers, and turkeys.

PRICES PAID INDEX UP 1 POINT

    The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 117 percent of the 1990-92 average. The Index was up 1 point from April but unchanged from May 1998. Since April, higher prices for hay and forages, feed supplements, feed concentrates, and nitrogen fertilizers more than offset lower prices for feeder cattle, feed grains, and herbicides.

SUMMARY TABLE
Index
1990-92=100
    1998     1999
Apr May Apr May
Prices Received 104 103 96 99
Prices Paid 118 117 116 117
Ratio 1/ 88 88 83 85
1/ Ratio of Index of Prices Received to Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
May
1998
April
1999
May
1999
May
1998
April
1999
May
1999
Meat animals:
  Hogs $ per cwt 42.80 25.60 28.30 42.30 30.20 37.00
  Cows $ per cwt 37.10 34.10 36.30 36.40 35.10 36.30
  Steers & heifers $ per cwt 68.70 66.80 65.30 66.30 66.00 64.50
  Calves $ per cwt 87.00 85.90 84.60 88.90 88.20 87.20
Milk: 2/
  Sold to plants, all $ per cwt 14.50 14.50 16.00 12.60 12.60 12.90
Poultry:
  Com'l broilers Cents per lb. 38.5 34.0 38.0 37.5 34.3 37.8
  Table eggs Cents per doz. 34.0 37.0 28.0 38.7 43.2 35.0
Citrus, on tree:
  Oranges $ per box 5.41 5.60 6.05 5.86 5.82 6.46
  Grapefruit $ per box -0.21 2.08 2.94 0.59 2.23 3.66
  Limes $ per bu. 5.31 27.81 9.06 5.31 27.81 9.06
  Tangerines $ per box ** 19.54 ** 2.24 17.26 7.36
Field crops:
  Potatoes $ per cwt 10.70 12.50 8.10 6.39 6.14 6.42
  Hay, baled $ per ton ** ** ** 102.00 81.90 91.60
  Tobacco, Type 11-37 Cents per lb. ** ** ** ** 150.5 **
  Peanuts Cents per lb. ** ** ** ** ** **
  Corn* $ per bu. 2.34 2.05 2.01
  Oats* $ per bu. 1.53 1.18 1.21
  Cotton* Cents per lb. 63.5 56.7 57.5
  Sorghum* $ per cwt 3.69 3.09 3.02
  Soybeans* $ per bu. 6.26 4.63 4.46
  Wheat, Winter* $ per bu. 2.90 2.48 2.42
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 May Index was 106, up 2.9 percent from April but 5.4 percent below May 1998. From April, price increases for potatoes and dry beans, and feed grains and hay, more than offset price decreases for vegetables, fruit and nuts, and oil-bearing crops.

FOOD GRAINS: The May Index, at 93, was down 3.1 percent from the previous month and was 15 percent below May 1998. The May all wheat price, at $2.58 per bushel, was down 4 cents from April and 48 cents below May 1998.

FEED GRAINS & HAY: The May Index was 93, up 1.1 percent from last month but 14 percent below May 1998. The corn price, at $2.01 per bushel, was down 4 cents from April and 33 cents below the May 1998 price. The all hay price, at $91.60 per ton, was up $9.70 from last month but was $10.40 below May 1998.

OIL-BEARING CROPS: The May Index, at 80, was down 3.6 percent from April and 29 percent below May 1998. The soybean price, at $4.46 per bushel, decreased 17 cents from April and was $1.80 below May 1998. This was the lowest monthly price since March 1976.

FRUIT AND NUTS: The May fruit and nuts Index, at 123, was up 13 percent from the previous month and up 11 percent from May 1998. The May Index increase resulted from large marketings of peaches. Since April, increases in the prices of oranges, grapefruit, and lemons offset declines in strawberry and apple prices.

COMMERCIAL VEGETABLES: The May Index, at 125, was down 2.3 percent from last month and 0.8 percent below May 1998. Price increases for cucumbers, tomatoes, snap beans, and celery were more than offset by price declines for lettuce, cauliflower, and asparagus.

LIVESTOCK AND PRODUCTS: The May Index, at 93, was up 3.3 percent from last month but down 3.1 percent from May 1998. Compared with a year ago, prices were up for broilers and turkeys but down for hogs, calves, cattle, all milk, and eggs.

MEAT ANIMALS: The May Index, at 83, was up 2.5 percent from last month but 4.6 percent below a year ago. The May hog price was $37.00 per cwt, up $6.80 from April but $5.30 below a year ago. The May beef cattle price of $61.40 was down $1.30 from last month and $1.60 below May 1998 with both placements and cattle on feed numbers above a year ago.

POULTRY AND EGGS: The May Index, at 110, was 5.7 percent above April and 1.9 percent above a year ago. The May broiler price at 37.8 cents per pound was up 3.5 cents from April, resulting from a seasonal increase in demand. A decrease in domestic demand for eggs, along with a contin ued weak export market, decreased market egg prices 8.2 cents to 35.0 cents per dozen. Turkey prices increased 1.0 cent to 39.7 cents per pound. Cold storage holdings continue to be below last year's levels.

DAIRY PRODUCTS: The May Index, at 99, was up 3.1 percent from April but was 2.9 percent below April 1998. The May all milk price, at $12.90 per cwt, was up $0.30 from April but down $0.40 from last year. April milk production was up 3.4 percent from last year. Prices increased for fluid grade but decreased for manufacturing grade milk. Cheese prices declined 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 27 .80
Apr 3 .18 2 .62 2 .41 2 .05 6 .26 4 .63 63 .00 62 .70 35 .60 30 .20
May 3 .06 2 .58 2 .34 2 .01 6 .26 4 .46 63 .00 61 .40 42 .30 37 .00
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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