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PRICES
June 30, 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-June were mostly higher compared with the entire month of May. The price for cows at $34.50 per cwt was $2.40 less than the previous month and $1.10 below June 1998. Steers and heifers were up $3.60 and $4.70 per cwt from last month and last year, respectively. Calves were $1.20 more than the previous month and $10.60 higher than a year earlier.

    Milk price estimates for June averaged $16.50 per cwt, 20 cents higher than a month earlier but 30 cents less than the previous year. Commercial broilers at 38.0 cents per pound, were 1.0 cent more than a month earlier but 2.0 cents less than last year. Table eggs at 37.0 cents per dozen were 9.0 cents higher than a month earlier but 2.0 cents less than June 1998.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in June was 98 based on 1990-92=100, down 1 point (1.0 percent) from May. The decrease was mostly due to the seasonal change in the mix of commodities farmers sell. The normal decrease in marketings of oranges, tomatoes, strawberries, and cattle more than offset the relatively higher marketings of wheat, grapes, hay, and cantaloupes. The change in marketings was accompanied by a slight decrease in
overall prices. Price decreases from May for cantaloupes, hogs, peaches, and hay more than offset price increases for oranges, milk, cattle, and celery.

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

PRICES PAID INDEX UNCHANGED

    
    The June 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 May but 1 point (0.9 percent) below June 1998. Since May, lower prices for hay and forages, insecticides, nitrogen fertilizers, and herbicides were offset by higher prices for feeder cattle and LP gas.

INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
May Jun May Jun
Prices Received 103 102 99 98
Prices Paid 117 117 116 116
Ratio 1/ 88 87 85 84
1/ Prices Received/Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
June
1998
May
1999
June
1999
June
1998
May
1999
June
1999
Meat animals:
  Hogs $ per cwt 39.20 29.40 ** 42.40 36.40 33.80
  Cows $ per cwt 35.60 36.90 34.50 36.10 36.40 36.10
  Steers & heifers $ per cwt 64.20 65.30 68.90 64.50 65.20 66.80
  Calves $ per cwt 76.50 85.90 87.10 81.70 87.60 88.00
Milk: 2/
  Sold to plants, all $ per cwt 16.80 16.30 16.50 14.10 12.80 13.20
Poultry:
  Com'l broilers Cents per lb. 41.5 38.0 39.0 40.6 37.8 38.5
  Table eggs Cents per doz. 39.0 28.0 37.0 44.8 35.0 37.6
Citrus, on tree:
  Oranges $ per box 6.00 6.05 8.36 6.70 6.46 8.78
  Grapefruit $ per box ** 2.94 ** 4.20 3.66 8.78
  Limes $ per bu. 5.07 9.06 ** 5.07 9.06 **
  Tangerines $ per box ** ** ** -2.39 7.36 -1.18
Field crops:
  Potatoes $ per cwt 13.20 8.10 8.05 6.13 6.30 6.65
  Hay, baled $ per ton ** ** ** 91.80 91.60 81.70
  Tobacco, Type 11-37 Cents per lb. ** ** ** ** ** **
  Peanuts Cents per lb. ** ** ** ** ** **
  Corn* $ per bu. 2.28 2.00 1.93
  Oats* $ per bu. 1.39 1.31 1.30
  Cotton* Cents per lb. 69.7 56.1 56.6
  Sorghum* $ per cwt 3.96 2.93 3.06
  Soybeans* $ per bu. 6.16 4.51 4.43
  Wheat, Winter* $ per bu. 2.68 2.36 2.37
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 are estimated for Florida, except oats and sorghum which are not estimated.
** Not estimated this month.


HIGHLIGHTS--U.S. PRICES RECEIVED INDEXES

ALL CROPS: The June Index was 101, down 3.8 percent from May and 5.6 percent below June 1998. From May, price decreases for vegetables, feed grains and hay, oilseeds, and food grains more than offset price increases for fruit and nuts, and potatoes and dry beans.

FOOD GRAINS: The June Index, at 86, was down 5.5 percent from the previous month and 10 percent below June 1998. The June all wheat price, at $2.48 per bushel, was down 5 cents from May and 29 cents below June 1998.

FEED GRAINS & HAY: The June Index was 90, down 3.2 percent from last month and 14 percent below June 1998. The corn price, at $1.93 per bushel, was down 7 cents from May and 35 cents below the June 1998 price. The All Hay price, at $81.70 per ton, was down $9.90 from last month and $10.10 below June 1998.

OIL-BEARING CROPS: The June Index, at 80, was down 1.2 percent from May and 28 percent below June 1998. The soybean price, at $4.43 per bushel, decreased 8 cents from May and was $1.73 below June 1998. This was the lowest monthly price since December 1975 and the lowest June price since 1972.

FRUIT AND NUTS: The June fruit and nuts Index, at 136, was up 11 percent from both the previous month and previous year. Increases in the prices of oranges, grapefruit, and strawberries more than offset declines in peach and grape prices.

COMMERCIAL VEGETABLES: The June Index, at 115, was down 5.7 percent from last month but 9.5 percent above June 1998. Price decreases for cantaloupes, cucumbers, sweet corn, and lettuce more than offset price increases for celery, tomatoes, and broccoli.

LIVESTOCK AND PRODUCTS: The June Index, at 95, was up 2.2 percent from last month but down 3.1 percent from June 1998. Compared with a year ago, prices were up for cattle, turkeys, and calves but down for hogs, all milk, broilers, and eggs.

MEAT ANIMALS: The June Index, at 83, was unchanged from last month but 3.5 percent below a year ago. The June hog price, at $33.80 per cwt, was down $2.60 from May and $8.60 below a year ago. The hog inventory is declining but large supplies of pork are in cold storage. The June beef cattle price of $63.60 was up $1.50 from last month and $1.80 above June 1998.

POULTRY AND EGGS: The June Index, at 113, was up 2.7  percent from May but 2.6 percent below a year ago. The June broiler price, at 38.5 cents per pound, increased 0.7 cent from May. June market egg prices increased 2.6 cents to 37.6 cents per dozen. Turkey prices increased 1.8 cents during June to 41.5 cents per pound. May 31, 1999 cold storage holdings of turkeys were 20 percent lower than the previous year.

DAIRY PRODUCTS: The June Index, at 101, was up 3.1 percent from May but down 6.5 percent from June 1998. The June all milk price at $13.20 per cwt, was up 40 cents from May but down 90 cents from last year. May milk production was up 3.5 percent from last year. June prices increased for both fluid and manufacturing grade milk. Cheese prices also increased during June.


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 .53 2 .34 2 .00 6 .26 4 .51 63 .00 62 .10 42 .30 36 .40
Jun 2 .77 2 .48 2 .28 1 .93 6 .16 4 .43 61 .80 63 .60 42 .40 33 .80
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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