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PRICES
August 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-July were mostly higher compared with the entire month of June 1999. Hogs were down $7.90 per cwt from the previous year. The price for cows at $37.10 per cwt was $1.70 more than the previous month and $3.10 above a year earlier. Steers and heifers were up 90 cents from last month and $11.10 more than the previous year. Calves were up $2.60 and $19.50 per cwt from last month and last year, respectively.

    Milk price estimates for July averaged $16.00 per cwt, 50 cents lower than a month earlier but 10 cents more than a year ago. Commercial broilers at 38.0 cents per pound, were 1.0 cent below last month and 7.0 cents less than last year. Table eggs at 34.0 cents per dozen were 3.0 cents below both last month and last year.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in July was 94 based on 1990-92=100, down 4 points (4.1 percent) from June. Price decreases from June for corn, wheat, hogs, and cattle more than offset price increases for milk, potatoes, oranges, and asparagus. The seasonal changes in the mix of commodities farmers
sell also affect the overall Index. Lower seasonal marketings of milk, cantaloupes, oranges, and potatoes more than offset the relatively higher marketings of grapes, wheat, tomatoes, and grain sorghum.

    Compared with July 1998, the All Farm Products Index was 8 points (7.8 percent) lower. Price decreases from July 1998 for corn, soybeans, broilers, and wheat more than offset price increases for cattle, turkeys, potatoes, and oranges.

PRICES PAID INDEX UNCHANGED

    
    The July 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 down 1 point from June but unchanged from July 1998. Since June, lower prices for feed grains, feeder pigs, hay and forages, nitrogen fertilizers, and feed supplements were partially offset by higher prices for feeder cattle, insecticides, diesel fuel, feed concentrates, and gasoline.


INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
June July June July
Prices Received 102 102 98 94
Prices Paid 117 116 117 116
Ratio 1/ 87 88 84 81
1/ Prices Received/Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
July
1998
June
1999
July
1999
July
1998
June
1999
July
1999
Meat animals:
  Hogs $ per cwt 32.40 ** 24.50 36.90 34.20 31.20
  Cows $ per cwt 34.00 35.40 37.10 34.70 36.70 38.20
  Steers & heifers $ per cwt 59.50 69.70 70.60 61.00 66.70 64.60
  Calves $ per cwt 71.00 87.90 90.50 76.60 89.00 88.50
Milk: 2/
  Sold to plants, all $ per cwt 15.90 16.50 16.00 14.20 13.10 13.60
Poultry:
  Com'l broilers Cents per lb. 45.0 39.0 38.0 44.0 38.5 38.1
  Table eggs Cents per doz. 37.0 37.0 34.0 43.4 37.6 39.9
Citrus, on tree:
  Oranges $ per box ** 8.36 ** 6.71 8.78 10.10
  Grapefruit $ per box ** ** ** 5.95 8.78 10.67
  Limes $ per bu. 3.54 ** ** 3.54 ** **
  Tangerines $ per box ** ** ** ** -1.18 **
Field crops:
  Potatoes $ per cwt ** 8.05 ** 6.03 6.58 7.51
  Hay, baled $ per ton ** ** ** 88.60 81.70 78.40
  Tobacco, Type 11-37 Cents per lb. 142.0 ** ** 163.0 ** **
  Peanuts Cents per lb. ** ** ** ** ** **
  Corn* $ per bu. 2.19 1.97 1.65
  Oats* $ per bu. 1.19 1.22 1.10
  Cotton* Cents per lb. 68.0 55.5 54.9
  Sorghum* $ per cwt 3.81 2.87 2.60
  Soybeans* $ per bu. 6.14 4.44 4.04
  Wheat, Winter* $ per bu. 2.48 2.32 2.07
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 July Index was 93, down 7.0 percent from June and 13 percent below July 1998. From June, sharp price decreases for feed grains and hay, food grains, vegeta bles, and oilseeds much more than offset price increases for potatoes and dry beans.

FOOD GRAINS: The July Index, at 75, was down 14 percent from the previous month and 16 percent below July 1998. The July all wheat price, at $2.15 per bushel, was down 35 cents from June and 41 cents below July 1998. This is the lowest price since August 1977.

FEED GRAINS & HAY: The July Index was 80, down 12 percent from last month and 21 percent below July 1998. The corn price, at $1.65 per bushel, was down 32 cents from June and 54 cents below the July 1998 price. This is the lowest corn price since November 1987. The all hay price, at $78.40 per ton, was down $3.30 from last month and $10.20 below July 1998.

OIL-BEARING CROPS: The July Index, at 73, was down 8.8 percent from June and 34 percent below July 1998. This is the lowest the Index has been since the Index was first calculated for 1975. The soybean price, at $4.04 per bushel, decreased 40 cents from June and was $2.10 below July 1998. This was the lowest July price since 1972.

FRUIT AND NUTS: The July fruit and nuts Index, at 133, was up 2.3 percent from the previous month and 3.1 percent above July 1998. Increases in the July prices of oranges, lemons, grapefruit, and pears more than offset declines in grape, peach, and strawberry prices.

COMMERCIAL VEGETABLES: The July Index, at 101, was down 9.0 percent from last month and 15 percent below July 1998. Price decreases during July for tomatoes, cantaloupes, carrots, and broccoli more than offset price
increases for asparagus, cucumbers, snap beans, and onions.

LIVESTOCK AND PRODUCTS: The July Index, at 94, was down 1.1 percent from last month and 2.1 percent from July 1998. Compared with a year ago, prices were up for cattle, turkeys, and calves but down for broilers, hogs, all milk, and eggs.

MEAT ANIMALS: The July Index, at 81, was down 3.6 percent from last month but 1.3 percent above a year ago. The July hog price, at $31.20 per cwt, was down $3.00 from June and $5.70 below a year ago. Year to date pork production is 4 percent above last year. The July beef cattle price of $62.10 was down $1.60 from last month but $3.70 above July 1998. July Cattle on feed numbers were up 4 percent from last year.

POULTRY AND EGGS: The July Index, at 113, was un changed from June but 8.1 percent below a year ago. The July broiler price, at 38.1 cents per pound, decreased 0.4 cent from June and was 5.9 cents below a year earlier. Market egg prices increased 2.3 cents to 39.9 cents per dozen. Turkey prices increased 0.3 cent to 41.8 cents per pound. Weekly broiler chick placements during June and July have been running 3-4 percent above a year earlier. Egg production was up 4 percent in June. Cold storage holdings of turkeys on June 30, 1999 were 15 percent lower than a year earlier.

DAIRY PRODUCTS: The July Index, at 104, was up 4.0 percent from June but down 4.6 percent from July 1998. The July all milk price, at $13.60 per cwt, was up 50 cents from June but down 60 cents from last year. June milk production was up 3.4 percent from last year. July prices increased for both fluid and manufacturing grade milk. Cheese prices have increased for the past eight weeks.


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 .50 2 .28 1 .97 6 .16 4 .44 61 .80 63 .70 42 .40 34 .20
Jul 2 .56 2 .15 2 .19 1 .65 6 .14 4 .04 58 .40 62 .10 36 .90 31 .20
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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