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PRICES
September 1, 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-August were mixed compared with the entire month of July 1999. Hogs were up $4.00 per cwt from last month but $1.40 less than a year ago. The price for cows at $34.80 per cwt was 70 cents less than the previous month but $1.10 more than a year earlier. Steers and heifers were up 60 cents from last month and $12.70 more than August 1998. Calves were $2.00 lower than a month earlier but $16.30 above the previous year.

    Milk price estimates for August averaged $16.90 per cwt, 30 cents higher than a month earlier but $1.40 less than a year ago. Commercial broilers at 36.0 cents per pound, were 2.0 cents below last month and 11.0 cents less than last year. Table eggs at 41.0 cents per dozen were 7.0 cents higher than a month earlier but 9.0 cents less than August 1998.

US PRICE INDEXES

    The All Farm Products Index of Prices Received in August was 98 based on 1990-92=100 and mid-month August prices, up 3 points (3.2 percent) from the preliminary July Index. Price increases from July for milk, hogs, wheat, and corn more than offset price decreases for broilers, potatoes, oranges, and tomatoes. The seasonal changes in the mix of commodities farmers sell also affect the overall Index. Higher seasonal marketings of tobacco, cattle, grapes, and sweet corn more than offset the relatively lower
marketings of wheat, hay, milk, and broilers. These marketing changes contributed less than one point to the overall increase in the Index.

    Compared with August 1998, the All Farm Products Index was 3 points (3.0 percent) lower. Price decreases from August 1998 for broilers, soybeans, milk, and lettuce more than offset price increases for cattle, peaches, calves, and turkeys.

PRICES PAID INDEX UNCHANGED

    The August 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 July and from August 1998. Since July, lower prices for feeder cattle, nitrogen fertilizers, feeder pigs, and complete feeds were offset by higher prices for diesel fuel, gasoline, feed grains, and building materials.

INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
July August July August
Prices Received 102 101 95 98
Prices Paid 116 116 116 116
Ratio 1/ 88 87 82 84
1/ Prices Received/Prices Paid.

Average price received by farmers 1/
Commodity Unit Florida United States
August
1998
July
1999
August
1999
August
1998
July
1999
August
1999
Meat animals:
  Hogs $ per cwt 29.90 24.50 28.50 35.20 31.20 36.40
  Cows $ per cwt 33.70 35.50 34.80 34.20 37.70 37.00
  Steers & heifers $ per cwt 58.60 70.70 71.30 59.70 65.20 65.60
  Calves $ per cwt 71.90 90.20 88.20 76.90 89.20 89.00
Milk: 2/
  Sold to plants, all $ per cwt 18.30 16.60 16.90 15.50 13.70 14.90
Poultry:
  Com'l broilers Cents per lb. 47.0 38.0 36.0 46.8 38.1 36.2
  Table eggs Cents per doz. 50.0 34.0 41.0 51.6 39.9 42.0
Citrus, on tree:
  Oranges $ per box ** ** ** 5.37 10.10 6.93
  Grapefruit $ per box ** ** ** 6.01 10.67 5.36
  Limes $ per bu. 6.78 ** ** 6.78 ** **
  Tangerines $ per box ** ** ** ** ** **
Field crops:
  Potatoes $ per cwt ** ** ** 5.55 7.34 5.80
  Hay, baled $ per ton ** ** ** 88.00 78.40 77.40
  Tobacco, Type 11-37 Cents per lb. 163.0 ** ** 162.5 150.0 164.5
  Peanuts Cents per lb. ** ** ** ** ** **
  Corn* $ per bu. 1.89 1.74 1.78
  Oats* $ per bu. 1.02 1.08 1.07
  Cotton* Cents per lb. 66.2 54.3 53.9
  Sorghum* $ per cwt 3.32 2.83 2.94
  Soybeans* $ per bu. 5.43 4.20 4.25
  Wheat, Winter* $ per bu. 2.25 2.13 2.30
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 August Index was 99, up 4.2 percent from July but 3.9 percent below August 1998. Prices increased from July, for all groups except potatoes and dry beans and cotton.

FOOD GRAINS: The August Index, at 85, was up 10 percent from the previous month but unchanged from August 1998. The August all wheat price, at $2.43 per bushel, was up 20 cents from the July price and 5 cents above August 1998.

FEED GRAINS & HAY: The August Index was 85, up 1.2 percent from last month's revised Index but 6.6 percent below August 1998. The corn price, at $1.78 per bushel, was up 4 cents from July but 11 cents below the August 1998 price. The all hay price, at $77.40 per ton, was down $1.00 from last month and $10.60 below August 1998.

OIL-BEARING CROPS: The August Index, at 76, was up 1.3 percent from the revised July Index but 22 percent below August 1998. The soybean price, at $4.25 per bushel, increased 5 cents from July but was $1.18 below August 1998.

FRUIT AND NUTS: The August fruit and nuts Index, at 138, was up 3.8 percent from the previous month and from August 1998. Increases in the prices of peaches, strawberries, apples, lemons, and grapes more than offset declines in the prices of oranges, grapefruit, and pears.

COMMERCIAL VEGETABLES: The August Index, at 108, was up 4.9 percent from last but 2.7 percent below August 1998. Price increases for broccoli, sweet corn, cucumbers, and cauliflower more than offset price decreases for tomatoes, onions, celery, and carrots.

LIVESTOCK AND PRODUCTS: The August Index, at 97, was up 3.2 percent from last month but down 2.0 percent from August 1998. Compared with a year ago, prices were up for cattle, calves, turkeys, and hogs but down for broilers, all milk, and eggs.

MEAT ANIMALS: The August Index, at 85, was up 4.9 percent from last month and 8.9 percent above a year ago. The August hog price was $36.40 per cwt, up $5.20 from July and $1.20 above August 1998. The aid package to Russia and lower slaughter levels during early August pushed prices up. The August beef cattle price of $62.90 was up 30 cents from last month and $5.50 above last year.

POULTRY AND EGGS: The August Index, at 110, was down 2.7 percent from July and 16 percent below a year ago. The August broiler price, at 36.2 cents per pound, decreased 1.9 cents from July. Broiler supplies were adequate to plentiful although domestic and international demand was occasionally soft. Market egg prices increased 2.1 cents to 42.0 cents per dozen with domestic demand up marginally. Turkey prices increased 1.3 cents to 43.1 cents per pound. Cold storage holdings of turkeys on July 31, 1999 were 14 percent lower than a year earlier.

DAIRY PRODUCTS: The August Index, at 114, was up 8.6 percent from July but down 4.2 percent from August 1998. The August all milk price at $14.90 per cwt, was up $1.20 from July but down 60 cents from last year. July milk production was up 2.3 percent from July 1998. August prices increased for both fluid and manufacturing grade milk from July. Cheese prices increased during August.

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 2.84 2.56 2.06 6.69 5.32 62.50 59.00 36.00 26.30
Feb 3.27 2.73 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 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 2.49 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 2.23 2.19 1.74 6.14 4.20 58.40 62.60 36.90 31.20
Aug 2.38 2.43 1.89 1.78 5.43 4.25 57.40 62.90 35.20 36.40
Sep 2.39 1.83 5.25 56.10 29.50
Oct 2.77 1.91 5.18 58.00 27.80
Nov 2.95 1.93 5.40 58.10 18.80
Dec 2.86 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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