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PRICES
December 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-November were mixed compared with those for the entire month of October. Hogs were up 40 cents from last month and $14.30 more than a year earlier. The price for cows at $31.50 per cwt was 20 cents less than the previous month but $1.50 more than last year. Steers and heifers were down $1.50 from last month but $11.00 higher than November 1998. Calves were up $1.20 and $15.90 from last month and last year respectively.

    The milk price estimates for November averaged 50 cents per cwt higher than a month earlier but $1.80 less than the previous year. Commercial broilers at 38.0 cents per pound, were 4.0 cents more than October 1999 but 3.5 cents lower than the previous year. Table eggs were 42.0 cents per dozen, up 16.0 cents from last month but down 13.0 cents from a year earlier.

US PRICE INDEXES

    The preliminary All Farm Products Index of Prices Received in November was 93 based on 1990-92=100, up 2 points (2.2 percent) from the October Index. The seasonal change in the mix of commodities farmers sell affect the overall Index. Higher seasonal marketings of cotton, milk, cattle, and cottonseed more than offset the relatively lower marketings of soybeans, peanuts, potatoes, and lettuce. These marketing changes account for most of the November Index increase. Higher prices for broilers, eggs, potatoes, and corn slightly offset price decreases for milk, soybeans, oranges, hogs, and lettuce.

    Compared with November 1998, the All Farm Products Index was 6 points (6.1 percent) lower. Price decreases from November 1998 for milk, cotton, soybeans, and corn more than offset price increases for cattle, hogs, apples, and calves.

PRICES PAID INDEX UNCHANGED

    The November 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 unchanged from October but 3 points (2.6 percent) above November 1998. Lower prices in November for herbicides, potash and phosphate materials, and mixed fertilizers were offset by higher prices for feeder cattle, feed concentrates, nitrogen fertilizers, and feeder pigs.


INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
Oct Nov Oct Nov
Prices Received 99 99 91 93
Prices Paid 114 114 117 117
Ratio 1/ 87 87 78 79
1/ Prices Received/Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
November
1998
October
1999
November
1999
November
1998
October
1999
November
1999
Meat animals:
  Hogs $ per cwt 15.70 29.60 30.00 18.80 34.00 32.90
  Cows $ per cwt 30.00 31.70 31.50 29.70 33.80 33.00
  Steers & heifers $ per cwt 57.20 69.70 68.20 62.30 70.10 70.80
  Calves $ per cwt 69.70 84.40 85.60 77.50 91.90 91.60
Milk: 2/
  Sold to plants, all $ per cwt 20.70 18.40 18.90 17.80 15.00 14.40
Poultry:
  Com'l broilers Cents per lb. 41.5 34.0 38.0 41.3 33.5 37.4
  Table eggs Cents per doz. 55.0 26.0 42.0 61.0 32.1 49.0
Citrus, on tree:
  Oranges $ per box 2.50 ** 3.68 5.37 10.25 4.33
  Grapefruit $ per box 1.93 6.52 3.55 3.55 6.80 5.21
  Limes $ per bu. 4.54 3/ 3/ 4.54 3/ 3/
  Tangerines $ per box 7.06 11.19 8.53 11.54 11.35 9.20
Field crops:
  Potatoes $ per cwt ** ** ** 4.86 4.84 5.37
  Hay, baled $ per ton ** ** ** 81.40 73.70 74.00
  Tobacco, Type 11-37 Cents per lb. ** 174.5 ** 190.5 181.0 177.0
  Peanuts Cents per lb. 2.02 2.31 2.38 2.46 2.54 2.42
  Corn* $ per bu. 1.93 1.69 1.72
  Oats* $ per bu. 1.10 1.07 1.08
  Cotton* Cents per lb. 64.6 45.9 46.8
  Sorghum* $ per cwt 3.05 2.51 2.59
  Soybeans* $ per bu. 5.39 4.47 4.35
  Wheat, Winter* $ per bu. 2.76 2.47 2.36
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 November Index was 89, up 1.1 percent from October but 12 percent below November 1998. Price increases from October for feed grains and hay, potatoes and dry beans, vegetables, and cotton partially offset price decreases for oilseeds, fruit and nuts, tobacco, and food grains.

FOOD GRAINS: The November Food Grains Index, at 87, was unchanged from previous month but 17 percent below November 1998. The November all wheat price, at $2.54 per bushel, was down 4 cents from the October price and 41 cents below November 1998. A major factor in the decline was the lower prices received for poor quality durum wheat sold for livestock feed.

FEED GRAINS & HAY: The November Index was 77, up 1.3 percent from last month but 10 percent below November 1998. The corn price, at $1.72 per bushel, was up 3 cents from October but 21 cents below the November 1998 price. Expectations for 1999/2000 marketing year ending stocks of over 2 billion bushels are keeping prices low. The all hay price, at $74.00 per ton, was up 30 cents from last month but $7.40 below November 1998. The increase was mostly due to a $1.30 per ton increase in the alfalfa hay price.

OIL-BEARING CROPS: The November Oil-Bearing Crops Index, at 80, was unchanged from the October Index but 21 percent below November 1998. The soybean price, at $4.35 per bushel, decreased 12 cents from October and was $1.04 below November 1998.

COTTON: The November Index, at 77, was up 1.3 percent from October but 28 percent below November 1998. The cotton price, at 46.8 cents per pound, was up 0.9 cent from October. Reinstatement of Step 2, the export subsidy to encourage sales abroad, has given prices a slight boost. Cottonseed prices were up from last month but well below last year.

LIVESTOCK AND PRODUCTS: The November Index, at 98, was up 2.1 percent from last month and 1.0 percent from November 1998. Compared with a year ago, prices were up for hogs, cattle, calves, and turkeys but down for all milk, broilers, and eggs.

MEAT ANIMALS: The November Meat Animals Index, at 87, was unchanged from last month but up 21 percent from a year ago. The November hog price was $32.90 per cwt, down $1.10 from October but up $14.10 from a year ago. The November beef cattle price of $66.20 was unchanged from last month but $8.10 above November 1998. Strong retail demand continues to support farm prices.

DAIRY PRODUCTS: The November Index, at 110, was down 4.3 percent from October and 19 percent from November 1998. The November all milk price, at $14.40 per cwt, was down 60 cents from October and $3.40 from last year. October milk production was up 4.3 percent from last year. November prices decreased for both fluid and manufacturing grade milk. Cheese prices decreased the first three weeks of November.

POULTRY AND EGGS: The November Index, at 114, was up 12 percent from October but 8.1 percent below a year ago. The November broiler price, at 37.4 cents per pound, was up 3.9 cents from October. Supplies were tight for some regions due to the holiday processing schedule. Market egg prices increased 16.9 cents to 49.0 cents per dozen, a seasonal increase in prices due to holiday demand. Turkey prices increased 0.2 cent to 45.6 cents per pound, as cold storage holdings of turkeys remain below last year's level.


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 2.04 6.26 4.63 63.00 62.70 35.60 30.20
May 3.06 2.49 2.34 1.99 6.26 4.50 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 4.19 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 1.84 1.75 5.25 4.57 56.10 63.80 29.50 33.70
Oct 2.77 2.58 1.91 1.69 5.18 4.47 58.00 66.20 27.80 34.10
Nov 2.95 2.54 1.93 1.72 5.39 4.35 58.10 66.20 18.80 32.90
Dec 2.86 2.00 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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