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PRICES
January 4, 2000

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-December were higher compared with those for the entire month of November. Hogs were down $1.40 and $7.60 per cwt from last month and last year, respectively. The price for cows at $34.70 per cwt was $1.90 more than the previous month and $4.40 more than a year earlier. Steers and heifers were up $3.80 from last month and $12.70 higher than December 1998. Calves were $4.10 per cwt more than a month earlier and $17.00 above a year earlier.

    The milk price estimates for December averaged $4.70 per cwt lower than a month earlier and $7.10 less than the previous year. Commercial broilers at 37.0 cents per pound, was 1.0 cent less than November 1999 and 2.0 cents lower than a year earlier. Table eggs were 38.0 cents per dozen, down 4.0 cents from last month and 22.0 cents less than the previous year.

US PRICE INDEXES

    The preliminary All Farm Products Index of Prices Received in December was 91 based on 1990-92=100, down 2 points (2.2 percent) from the November Index. Lower prices for milk, soybeans, wheat, and oranges more than offset price increases for lettuce, hogs, calves, and corn. The seasonal change in the mix of commodities farmers sell also affects the overall Index. Lower seasonal marketings of cattle, grapes, soybeans, and corn more than offset the relatively higher marketings of tobacco, wheat, milk,
and broilers. These marketing changes account for about one-half point of the December Index decrease.

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

PRICES PAID INDEX UNCHANGED

    The December 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 November but 3 points (2.6 percent) above December 1998. Lower prices in December for hay and forages, mixed fertilizers, insecticides, and feed supplements were offset by higher prices for feeder cattle, feeder pigs, diesel fuel, and feed grains.

INDEX SUMMARY TABLE
Index
1990-92=100
    1998     1999
Nov Dec Nov Dec
Prices Received 99 98 93 91
Prices Paid 114 114 117 117
Ratio 1/ 87 86 79 78
1/ Prices Received/Prices Paid.


Average price received by farmers 1/
Commodity Unit Florida United States
December
1998
November
1999
December
1999
December
1998
November
1999
December
1999
Meat animals:
  Hogs $ per cwt 36.20 30.00 28.60 14.70 33.40 35.40
  Cows $ per cwt 30.30 32.80 34.70 30.80 33.60 34.70
  Steers & heifers $ per cwt 60.60 69.50 73.30 60.30 70.90 70.80
  Calves $ per cwt 75.00 87.90 92.00 80.20 93.00 97.80
Milk: 2/
  Sold to plants, all $ per cwt 21.30 18.90 14.20 18.00 14.30 12.40
Poultry:
  Com'l broilers Cents per lb. 39.0 38.0 37.0 39.0 37.4 36.8
  Table eggs Cents per doz. 60.0 42.0 38.0 62.9 49.0 43.3
Citrus, on tree:
  Oranges $ per box 4.31 3.68 3.19 4.99 4.33 3.41
  Grapefruit $ per box 1.97 3.55 3.15 2.82 5.21 3.71
  Limes $ per bu. 12.19 3/ 3/ 12.19 3/ 3/
  Tangerines $ per box 10.31 8.53 6.57 11.17 9.20 7.11
Field crops:
  Potatoes $ per cwt ** ** ** 5.30 5.51 5.65
  Hay, baled $ per ton ** ** ** 77.50 74.00 71.10
  Tobacco, Type 11-37 Cents per lb. ** 177.50 ** 191.50 182.50 190.50
  Peanuts Cents per lb. 2.34 2.30 1.45 2.72 2.39 2.13
  Corn* $ per bu. 2.00 1.70 1.72
  Oats* $ per bu. 1.19 1.11 1.13
  Cotton* Cents per lb. 60.60 44.70 43.60
  Sorghum* $ per cwt 2.94 2.58 2.60
  Soybeans* $ per bu. 5.37 4.45 4.29
  Wheat, Winter* $ per bu. 2.68 2.42 2.18
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 December Index was 88, down 1.1 percent from November and 12 percent below December 1998. Price decreases from November for oilseeds, food grains, fruit and nuts, and cotton more than offset price increases for vegetables, tobacco, and feed grains and hay.

FOOD GRAINS: The December Food Grains Index, at 83, was down 6.7 percent from the previous month and 18 percent below December 1998. The December all wheat price, at $2.43 per bushel, was down 23 cents from the November price and 43 cents below December 1998.

FEED GRAINS & HAY: The December Index was 78, up 1.3 percent from last month but 12 percent below December 1998. The corn price, at $1.72 per bushel, was up 2 cents from November but 28 cents below the December 1998 price. The all hay price, at $71.10 per ton, was down $2.90 from last month and $6.40 below December 1998. Alfalfa hay prices were down from last month but other hay prices were up.

OIL-BEARING CROPS: The December Oil-Bearing Crops Index, at 79, was down 3.7 percent from the November Index and 23 percent below December 1998. The soybean price, at $4.29 per bushel, decreased 16 cents from November and was $1.08 below December 1998.

COTTON: The December Index, at 72, was down 2.7 percent from November and 28 percent below December 1998. The cotton price, at 43.6 cents per pound, was down 1.1 cents from November. Cottonseed prices were up from last month but well below last year.

LIVESTOCK AND PRODUCTS: The December Index, at 95, was down 3.1 percent from last month and 2.1 percent from December 1998. Compared with a year ago, prices were higher for hogs, cattle, calves, and turkeys but lower for all milk, eggs, and broilers.

MEAT ANIMALS: The December Index, at 87, was unchanged from last month but up 32 percent from a year ago. The December hog price was $35.40 per cwt, up $2.00 from November and $20.70 from a year ago. The December beef cattle price of $66.40 was up 20 cents from last month and $9.60 from December 1998. Strong retail demand continues to support farm prices.

DAIRY PRODUCTS: The December Index, at 95, was down 13 percent from November and 32 percent from December 1998. The December all milk price, at $12.40 per cwt, was down $1.90 from November and $5.60 from last year. December prices decreased for both fluid and manufacturing grade milk. Cheese prices decreased the first two weeks of December but increased the third week.

POULTRY AND EGGS: The December Index, at 110, was 3.5 percent below November and 7.6 percent below a year ago. The December broiler price, at 36.8 cents per pound, was down 0.6 cent from November, a seasonal decline with adequate supply. Market egg prices decreased 5.7 cents to 43.3 cents per dozen. Supplies of eggs continue to be plentiful. Turkey prices decreased 3.4 cents to 42.2 cents per pound, following a seasonal trend.


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 34.00
Nov 2.95 2.66 1.93 1.70 5.39 4.45 58.10 66.20 18.80 33.40
Dec 2.86 2.43 2.00 1.72 5.37 4.29 56.80 66.40 14.70 35.40
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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