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PRICES
November 1, 1999

Florida Agricultural Statistics Service   |  1222 Woodward Street   |  Orlando, Florida 32803   |  407 / 648-6013


PRICES RECEIVED BY FLORIDA FARMERS

    Prices received by cattle producers in mid-October were mostly lower compared with those for the entire month of September. Hogs, however, were up $1.60 and $9.30 per cwt from last month and last year respectively. The price for cows at $31.40 per cwt was $1.20 less than the previous month but $3.10 more than last year. Steers and heifers were down 50 cents from last month but $14.60 higher than October 1998. Calves were 30 cents lower than a month earlier but $18.20 above last year.

    The milk price estimates for October averaged $2.20 per cwt higher than a month earlier and $1.30 more than a year earlier. Commercial broilers at 34.0 cents per pound, were 3.0 cents less than September 1999 and 10.0 cents lower than the previous year. Table eggs were 26.0 cents per dozen, down 6.0 cents from last month and 21.0 cents less than a year earlier.

US PRICE INDEXES

    The preliminary All Farm Products Index of Prices Received in October was 92 based on 1990-92=100, down 5 points (5.2 percent) from the September Index. The seasonal change in the mix of commodities farmers sell affect the overall Index. Lower seasonal marketings of milk, wheat, tobacco, and grapes more than offset the relatively higher marketings of soybeans, corn, cotton lint and cottonseed. These marketing changes decreased the Index four points. Price decreases from September account for one point of
the decline. Lower prices for broilers, corn, milk, and eggs more than offset price increases for cattle, tobacco, oranges, and cucumbers.

    Compared with October 1998, the All Farm Products Index was 7 points (7.1 percent) lower. Price decreases from October 1998 for soybeans, broilers, milk, and corn more than offset price increases for cattle, calves, hogs, and oranges.

PRICES PAID INDEX UNCHANGED

    The October 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 September but 2 points (1.8 percent) above October 1998. Since September, lower prices for feed grains, feed concentrates, mixed fertilizers, and potash and phosphate materials were offset by higher prices for feeder cattle, feeder pigs, complete feeds, and nitrogen fertilizers.

INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
Sep Oct Sep Oct
Prices Received 99 99 97 92
Prices Paid 113 114 116 116
Ratio 1/ 88 87 84 79
1/ Prices Received/Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
October
1998
September
1999
October
1999
October
1998
September
1999
October
1999
Meat animals:
  Hogs $ per cwt 20.30 28.00 29.60 27.80 33.70 34.10
  Cows $ per cwt 28.30 32.60 31.40 30.50 34.60 34.50
  Steers & heifers $ per cwt 55.30 70.40 69.90 61.40 67.10 70.10
  Calves $ per cwt 66.00 84.50 84.20 75.70 90.90 92.00
Milk: 2/
  Sold to plants, all $ per cwt 20.20 19.30 21.50 17.70 15.80 15.50
Poultry:
  Com'l broilers Cents per lb. 44.0 37.0 34.0 43.4 36.5 33.5
  Table eggs Cents per doz. 47.0 32.0 26.0 53.2 39.7 32.1
Citrus, on tree:
  Oranges $ per box ** ** ** 6.38 7.988 10.25
  Grapefruit $ per box ** ** 6.52 5.29 8.18 6.80
  Limes $ per bu. 3.78 3/ 3/ 3.78 3/ 3/
  Tangerines $ per box ** ** 11.19 10.46 ** 11.35
Field crops:
  Potatoes $ per cwt ** ** ** 4.47 5.15 4.75
  Hay, baled $ per ton ** ** ** 83.80 74.50 73.70
  Tobacco, Type 11-37 Cents per lb. 177.0 183.0 183.5 186.5 175.0 181.5
  Peanuts Cents per lb. ** 2.33 2.29 2.63 2.70 2.60
  Corn* $ per bu. 1.91 1.75 1.66
  Oats* $ per bu. 1.09 1.08 1.08
  Cotton* Cents per lb. 65.9 46.2 48.5
  Sorghum* $ per cwt 2.96 2.82 2.58
  Soybeans* $ per bu. 5.61 4.57 4.49
  Wheat, Winter* $ per bu. 2.66 2.46 2.33
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.
3/ Current prices not published to avoid disclosure of individual firms.
*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 October Index was 88, down 7.4 percent from September and 12 percent below October 1998. Price decreases from September for feed grains and hay, vegetables, potatoes and dry beans, and oilseeds more than offset price increases for tobacco and cotton.

FOOD GRAINS: The October Index, at 87, was down 1.1 percent from the previous month and 13 percent below October 1998. The October all wheat price, at $2.49 per bushel, was down 8 cents from the September price and 28 cents below October 1998.

FEED GRAINS & HAY: The October Index was 75, down 7.4 percent from last month and 12 percent below October 1998. The corn price, at $1.66 per bushel, was down 9 cents from September and 25 cents below the October 1998 price. The all hay price, at $73.70 per ton, was down 80 cents from last month and $10.10 below October 1998.

OIL-BEARING CROPS: The October Index, at 81, was down 2.4 percent from the revised September Index and 13 percent below October 1998. The soybean price, at $4.49 per bushel, decreased 8 cents from September and was 69 cents below October 1998.

FRUIT AND NUTS: The October fruit and nuts Index, at 131, was unchanged from the previous month but 4.0 percent above October 1998. Increases in the prices of oranges, apples, lemons, and pears offset decreases in the prices of strawberries, grapes, and grapefruit.

COMMERCIAL VEGETABLES: The October Index, at 97, was down 6.7 percent from last month and 27 percent below October 1998. Price decreases for tomatoes, onions, broccoli, and celery more than offset price increases for cucumbers, lettuce, snap beans, and sweet corn.

LIVESTOCK AND PRODUCTS: The October Index, at 97, was down 1.0 percent from both last month and October 1998. Compared with a year ago, prices were up for cattle, hogs, calves, and turkeys but down for all milk, broilers, and eggs.

MEAT ANIMALS: The October Index, at 87, was up 3.6 percent from last month and up 16 percent from a year ago. The October hog price was $34.10 per cwt, up 40 cents from September and up $6.30 from a year ago. Strong retail demand and slightly higher exports pushed the price up. The October beef cattle price of $66.10 per cwt was $2.30 higher than last month and $8.10 above October 1998.

POULTRY AND EGGS: The October Index, at 102, was down 7.3 percent September and 19 percent below a year ago. The October broiler price at 33.5 cents per pound decreased 3.0 cents from September. Prices were pushed down due to increased fourth quarter broiler production and strong competition from larger red meat supplies. Market egg prices decreased 7.6 cents to 32.1 cents per dozen. Market egg layer numbers on October 1 were 3.7 percent above a year ago and September egg production was 6 percent above a year earlier. Turkeys increased 0.9 cent to 45.4 cents per pound. End of September cold storage holdings of turkeys were 14 percent lower than a year earlier.

DAIRY PRODUCTS: The October Index, at 119, was down 1.7 percent from September and 13 percent from October 1998. The October all milk price, at $15.50 per cwt, was down 30 cents from September and down $2.20 from last year. September milk production was up 5.3 percent from last year. October prices decreased for both fluid and manufacturing grade milk. Cheese prices decreased during the first three weeks of October.
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 61.30 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 2.49 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 2.52 1.89 1.75 5.43 4.39 57.40 63.50 35.20 36.20
Sep 2.39 2.57 1.83 1.75 5.25 4.57 56.10 63.80 29.50 33.70
Oct 2.77 2.49 1.91 1.66 5.18 4.49 58.00 66.10 27.80 34.10
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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