HDR1012000120010731951500Agricultural Prices HDR2012000120010731951500Agricultural Prices Narrative Released July 31, 1995, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" call Herb Vanderberry at (202) 720-5446, office hours 8:00 a.m. to 4:30 p.m. ET. For assistance with general agricultural statistics, information about NASS, its products or services, contact the NASS Information Hotline at 1-800-727-9540 or E-mail: NASS@AG.GOV. July Prices Received Index Up 2 Points The All Farm Products Index of Prices Received in July was 102 based on 1990- 92=100, up 2 points (2.0 percent) from June. Price gains from June for wheat, hogs, corn, and broilers more than offset price declines for lettuce, cattle, cantaloupes, and tomatoes. The seasonal changes in the mix of commodities farmers sell also can affect the overall index level, but these changes were essentially offsetting in July. Higher relative seasonal marketings of wheat, grapes, tomatoes, and sorghum offset the effect of relatively lower seasonal marketings of milk, cantaloupes, potatoes, and oranges. Compared with July 1994, the All Farm Products Index was 5 points (5.2 percent) higher. Higher prices for wheat, corn, hogs, and cotton compared with July 1994 levels more than offset lower prices for cattle, broilers, and calves. Prices Paid Index Unchanged The Index of Prices Paid by Farmers for Commodities and Services, Interest, Taxes, and Farm Wage Rates for July was 108 percent of its 1990-92 average. The index was unchanged from April but 2 points (1.9 percent) above July last year. Since April, price increases for farm services, farm supplies and repairs, fertilizer, and chemicals offset decreases for feeder livestock and feed. Index Summary Table ------------------------------------------------------------------------------ : 1994 : 1995 Index :------------------------------------------------------ 1990-92=100 : Jun : Jul : Jun : Jul ------------------------------------------------------------------------------ : : : : Prices Received : 100 : 97 : 100 : 102 : : : : Prices Paid : 2/107 : 106 : 3/108 : 108 : : : : Ratio 1/ : 93 : 92 : 93 : 94 ------------------------------------------------------------------------------ 1/ Ratio of index of prices received by farmers to index of prices paid. 2/ April 1994 prices paid index brought forward. 3/ April 1995 prices paid index brought forward. Pr 1 (7-95) Prices Received by Farmers The July All Farm Products Index was 102 percent of its 1990-92 base, up 2.0 percent from June and 5.2 percent from July 1994. All Crops: The July index was 114, up 1.8 percent from June and 12 percent above July 1994. Price gains for wheat and corn from June more than offset declines for several commercial vegetables. Food Grains: The July index, at 141, was up 10 percent from the previous month and 37 percent from July 1994. Wheat prices averaged $4.24 per bushel, up 39 cents from June. Projected lower production in the U.S., Canada, and China, and good export demand are the basis for the price improvements. Commercial Vegetables: The commercial vegetable index in July was 96, down 18 percent from June and 1.0 percent below a year ago. Tomato prices declined substantially from June after a brief spike caused by short supplies in June. Lettuce prices approached seasonal low points on moderate trading. Late arriving supplies of cucumbers and sweet corn have given strength to those prices which would normally display seasonal declines. Other vegetable crops followed seasonal patterns. Feed Grains & Hay: The index, at 114, was up 3.6 percent from June and up 13 percent from one year ago. Prices were higher for all feed grains. Hot, dry conditions in the midwest and projected lower U.S. corn supplies pushed the U.S. price up 16 cents to $2.67 per bushel. Fruit & Nuts: The July index, at 103, was up 4.0 percent from June 1995 and up 6.2 percent from July 1994. Price increases from June for apples, grapes, grapefruit, lemons, and oranges contributed to the higher index. Prices for peaches and pears decreased. Livestock & Products: The July index, at 91, was 1.1 percent above June but 1.1 percent below a year earlier. July price increases for hogs and poultry items more than offset a decrease in cattle prices. Meat Animals: The meat animal index, at 85, was unchanged from June but declined 2.3 percent from last July. Beef cattle prices declined $1.20 per cwt from June and were $3.20 below last July at $59.70. Hog prices, at $46.30 per cwt, were $4.00 above June and $4.10 above July 1994. Good consumer demand pushed prices to the highest level since February 1994. Dairy Products: The July dairy products index, at 93, was 1.1 percent above June and unchanged from last year. The all milk price increased 10 cents to $12.20 per cwt. The fluid milk price was unchanged at $12.20 while the manufacturing milk price increased 10 cents to $11.20. Poultry & Eggs: The July index was 105, 5.0 percent above June but 2.8 percent below July 1994. Prices were up for all items in the index. HDR2012000120010731951500Index Numbers of Prices Received by Farmers Index Numbers of Prices Received by Farmers, United States, July 1995, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 1/ :------------------------------------------------------ Index : : 1994 : 1995 : 1994 : 1995 :Average:---------------------------------------------- :1990-92: Jul : Jun : Jul : Jul : Jun : Jul ------------------------------------------------------------------------------- : All Farm Products : 639 615 *633 646 97 100 102 : All Crops : 500 502 *554 563 102 *112 114 Food Grains : 325 327 407 448 103 128 141 Feed Grains & Hay : 363 363 *393 409 101 *110 114 Cotton : 517 496 *729 680 97 *142 133 Tobacco 2/ : 1263 Oil-Bearing Crops : 554 580 *555 580 106 *102 106 Fruit & Nuts : 716 678 *694 721 97 *99 103 Commercial Vegetables : 698 647 *781 644 97 *117 96 Potatoes & Dry Beans : 540 660 *624 746 130 *123 147 Other Crops : 493 517 525 525 105 106 106 : Livestock & Products : 768 709 *688 698 92 90 91 Meat Animals : 1021 883 *860 865 87 85 85 Dairy Products : 799 750 *744 750 93 92 93 Poultry & Eggs : 282 304 282 295 108 100 105 : Food Commodities : 96 98 100 ------------------------------------------------------------------------------- * Revised. 1/ 1990-92=100 reference replaced 1977=100 in January 1995. 2/ Missing data indicate insufficient sales volume to establish a price. Selected Index Numbers for Prices Received and Paid by Farmers, 1990-92=100, by Months, United States, 1994 and 1995 ------------------------------------------------------------------------------- : Index of Prices Received : Index of Prices Paid :--------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :--------------------------------------------------------------------- : 1994 : 1995 : 1994 : 1995 : 1994 : 1995 : 1994 : 1995 : 1994 : 1995 ------------------------------------------------------------------------------- Jan : 105 98 110 103 98 93 106 108 106 106 Feb : 104 98 110 102 100 94 106 108 106 106 Mar : 105 100 109 109 101 93 106 108 106 106 Apr : 102 100 106 114 100 90 107 108 108 107 May : 101 100 107 115 97 88 107 108 108 107 Jun : 100 100 108 112 94 90 107 108 108 107 Jul : 97 102 102 114 92 91 106 108 105 107 Aug : 97 101 94 106 105 Sep : 97 102 91 106 105 Oct : 95 99 89 106 105 Nov : 95 100 90 106 105 Dec : 98 106 90 106 105 ------------------------------------------------------------------------------- Prices Received by Farmers, United States, July 1995, with Comparisons ------------------------------------------------------------------------------ : : : Entire Month : Preliminary : : Average :----------------------------------- Commodity : Unit : 1990-92 : Jul : Jun : Jul : : : 1994 : 1995 : 1995 ------------------------------------------------------------------------------ : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 1.92 2.25 2.40 Feed : Bu : 1.90 1.78 2.19 2.35 Malting : Bu : 2.43 2.19 2.48 2.66 Beans, Dry Edible : Cwt : 19.10 26.10 23.40 23.60 Corn : Bu : 2.30 2.29 2.51 2.67 Cotton, Upland : Lb : .606 .587 .863 .805 Cottonseed : Ton : 96.00 : : Flaxseed : Bu : 4.27 4.28 5.13 5.20 Hay, All, Baled 1/ : Ton : 76.30 82.40 83.90 80.60 Alfalfa 1/ : Ton : 77.20 88.00 90.60 86.30 Other 1/ : Ton : 60.00 64.60 63.60 63.10 Oats : Bu : 1.22 1.20 1.38 1.49 Peanuts, In-Shell : Lb : .304 Potatoes : Cwt : 5.82 7.49 7.19 8.94 : : Rice, Rough : Cwt : 7.07 7.69 7.03 7.05 Sorghum Grain : Cwt : 3.75 3.71 4.72 4.87 Soybeans : Bu : 5.61 5.92 5.68 5.93 Sunflower 2/ : Cwt : 9.50 12.40 10.50 11.50 Tobacco : Lb : 1.740 1.505 : : Wheat, All : Bu : 2.96 3.04 3.85 4.24 Winter : Bu : 2.93 2.99 3.77 4.21 Durum : Bu : 2.86 4.32 5.22 5.53 Other Spring : Bu : 3.11 3.28 3.77 4.22 Hard Red : Bu : 2.95 3.08 3.85 Soft Red : Bu : 2.87 2.90 3.59 White : Bu : 3.24 3.10 4.19 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 1.49 4.54 6.72 Lemons : Box : 10.10 6.31 10.22 19.07 Limes : Box : 10.15 4.04 8.93 -1.45 Oranges : Box : 5.79 4.44 5.21 5.58 Tangelos : Box : 5.82 Tangerines : Box : 15.11 Temples : Box : 6.23 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .131 .156 .168 Grapes, Fresh 3/ : Ton : 506.00 745.00 838.00 Peaches, Fresh 3/ : Lb : .216 .177 .265 .185 Pears, Fresh 3/ : Ton : 370.00 326.00 557.00 353.00 Strawberries, Fresh: Lb : .560 .495 .531 .439 ------------------------------------------------------------------------------ 1/ Mid-month price. 2/ KS, MN, ND and SD average. 3/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (pears only) and WA (apples, peaches, and pears). Prices as sold for other states. -- continued Prices Received by Farmers, United States, July 1995, with Comparisons (continued) ------------------------------------------------------------------------------ : : : Entire Month : Preliminary : : Average :----------------------------------- Commodity : Unit : 1990-92 : Jul : Jun : Jul : : : 1994 : 1995 : 1995 ------------------------------------------------------------------------------ : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 143.00 112.10 120.00 Broccoli : Cwt : 22.50 21.60 27.30 19.70 Cantaloupes : Cwt : 20.00 15.90 Carrots : Cwt : 13.20 13.60 15.20 14.60 Cauliflower : Cwt : 26.80 32.00 37.60 21.70 Celery : Cwt : 11.60 12.40 15.40 12.60 Corn, Sweet : Cwt : 15.70 19.00 15.40 19.90 Cucumbers 2/ : Cwt : 18.10 20.00 Lettuce : Cwt : 11.90 10.40 15.60 10.50 Onions : Cwt : 12.80 12.80 10.10 12.20 Snap Beans 2/ : Cwt : 43.60 38.70 Tomatoes : Cwt : 32.30 28.20 33.30 24.90 : : Livestock : : : : Calves : Cwt : 94.30 83.80 77.10 75.20 Cattle, All Beef : Cwt : 72.90 62.90 60.90 59.70 Cows : Cwt : 49.60 43.80 38.20 36.30 Steers & Heifers : Cwt : 77.10 65.00 63.30 62.00 Milk Cows 3/ : Head : 1130.00 1160.00 1130.00 : : Hogs, All : Cwt : 47.70 42.20 42.30 46.30 Barrows & Gilts : Cwt : 48.40 43.20 43.20 47.50 Sows : Cwt : 39.50 29.60 28.70 28.90 : : Lambs : Cwt : 56.20 72.80 85.70 85.60 Sheep : Cwt : 23.40 30.10 29.20 28.50 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.10 12.20 12.10 5/12.20 Fluid Grade : Cwt : 13.10 12.20 12.20 5/12.20 Mfg Grade : Cwt : 11.80 11.10 11.10 5/11.20 : : Broilers, Live : Lb : .317 .364 .328 .345 Eggs, All 6/ : Doz : .643 .584 .578 .609 Market 6/7/ : Doz : .546 .445 .446 .480 Turkeys, Live 6/ : Lb : .380 .406 .393 .398 ------------------------------------------------------------------------------ Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .628 .635 .648 Milk, All 4/ : Cwt : 9.71 12.20 12.47 12.20 ------------------------------------------------------------------------------ 1/ F.O.B. shipping point. 2/ Monthly estimates began January 1995. 3/ Animals sold for dairy herd replacement only. Prices available for Jan, Apr, Jul, and Oct. 4/ Before deductions for hauling and government witholding, but includes bulk tank, quantity, and other premiums. Excludes hauling subsidies. 5/ Fat test percent: all milk 3.52, fluid milk 3.52, mfg grade 3.59. 6/ Mid-month price. 7/ Includes eggs sold retail by the producer. HDR2012000120010731951500Wheat Wheat: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat : Oth Spring Wheat State :------------------------------------------------------------------------ : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ ------------------------------------------------------------------------------- : Dollars per Bushel : AZ : 4.68 4/ 3.58 4/ 3/ 4/ AR : 3.58 4.11 3.58 4.11 CA : 4.52 4.75 4.22 4.23 4.86 5.34 CO : 3.92 4.27 3.93 4.28 3.62 3.70 GA : 3.38 3.97 3.38 3.97 ID : 3.86 4.33 3.85 4.27 3.88 4.41 IL : 3.60 4.08 3.60 4.08 IN : 3.68 3.98 3.68 3.98 KS : 3.95 4.34 3.95 4.34 MI : 3.92 3.90 3.92 3.90 MN : 3.71 4.08 3.37 4/ 3.71 4.08 MO : 3.58 4.15 3.58 4.15 MT : 3.81 4.32 3.79 4.20 5.67 6.00 3.82 4.40 NE : 3.94 4.40 3.94 4.40 ND : 4.09 4.45 3.34 3.65 5.49 5.75 3.67 4.05 OH : 3.64 4.12 3.64 4.12 OK : 3.88 4.32 3.88 4.32 OR : 4.59 4.62 4.59 4.62 SD : 4.01 4.40 3.82 4.28 3.80 4.24 4.09 4.45 TX : 3.87 4.27 3.87 4.27 WA : 4.32 4.50 4.31 4.46 4.46 4.92 : US : 3.85 4.24 3.77 4.21 5.22 5.53 3.77 4.22 ------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual buyers. 4/ Sales volume insufficient to establish a price. Prices Received for Selected Agricultural Commodities, by Months, United States, 1994 and 1995 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 1994 :1995 2/:1994 :1995 2/: 1994 :1995 2/: 1994 :1995 2/: 1994 :1995 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 3.58 3.69 2.70 2.19 6.72 5.47 69.90 67.50 43.50 36.90 Feb : 3.60 3.61 2.79 2.23 6.71 5.40 70.10 68.70 47.90 39.10 Mar : 3.70 3.52 2.74 2.30 6.73 5.51 72.30 66.90 44.40 37.80 Apr : 3.56 3.49 2.65 2.36 6.57 5.55 72.00 63.80 42.70 35.70 May : 3.43 3.66 2.60 2.41 6.77 5.56 67.20 60.80 42.70 37.20 Jun : 3.21 3.85 2.61 2.51 6.72 5.68 62.70 60.90 42.70 42.30 Jul : 3.04 4.24 2.29 2.67 5.92 5.93 62.90 59.70 42.20 46.30 Aug : 3.25 2.16 5.58 65.90 41.80 Sep : 3.57 2.19 5.47 63.50 35.40 Oct : 3.76 2.06 5.30 62.90 31.80 Nov : 3.75 1.99 5.36 64.40 28.00 Dec : 3.74 2.13 5.41 64.40 30.80 ------------------------------------------------------------------------------- 1/ Cows, steers and heifers. 2/ Current month prices are mid-month; prices for previous months are for the entire month. HDR2012000120010731951500Grains Grains: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :Jun 2/:Jul 3/:Jun 2/:Jul 3/:Jun 2/:Jul 3/:Jun 2/:Jul 3/: Jun 2/: Jul 3/ ------------------------------------------------------------------------------ : ----------------- Dollars per Bushel ---------------- Dollars per Cwt : AL : AR : 5.81 6.15 4/ 5/ CA : 2.89 2.95 1.60 1.60 CO : 2.38 2.40 2.61 2.82 4.22 4.30 GA : 2.98 2.89 5.95 5/ ID : 2.65 2.85 IL : 2.61 2.78 1.56 1.54 5.83 6.13 IN : 2.56 2.73 1.79 1.70 5.86 6.11 IA : 2.44 2.60 1.59 1.52 5.57 5.86 KS : 2.66 2.85 5.39 5.92 4.18 4.50 KY : 2.72 2.85 5.94 6.10 LA : 4/ 5/ MI : 2.54 2.70 1.60 1.65 5.75 5.95 MN : 1.99 2.04 2.36 2.47 1.34 1.42 5.48 5.71 MS : 5.95 6.08 MO : 2.68 2.85 5.73 6.10 4.60 4.70 MT : 2.25 2.35 NE : 2.53 2.65 1.40 1.45 5.54 5.83 4.08 4.35 NM : 5.16 5.30 NY : 1.51 1.49 NC : 2.91 3.00 5.85 5.97 ND : 2.13 2.21 1.24 1.30 OH : 2.59 2.75 1.59 1.64 5.85 6.15 OK : 4.34 4.66 OR : 4/ 2.87 1.58 1.61 PA : 3.10 3.03 1.59 1.51 SC : 5.81 5.98 SD : 2.22 2.79 2.40 2.54 1.39 1.45 5.47 5.71 TN : 5.81 6.30 TX : 3.01 3.19 4/ 5/ 4.96 4.95 UT : 2.76 2.80 WA : 2.49 2.63 WI : 2.48 2.65 1.36 1.35 WY : 2.26 2.50 : US : 2.25 2.40 2.51 2.67 1.38 1.49 5.68 5.93 4.72 4.87 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for July 1995 is $2.04. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual buyers. 5/ Sales volume insufficient to establish a price. HDR2012000120010731951500Malting and Feed Barley Malting and Feed Barley: Prices Received Selected States, June and July 1995 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Jun : Jul : Jun : Jul ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 2.87 2.98 2.51 2.84 MN : 2.23 2.40 1.98 2.01 MT : 2.70 2.75 2.21 2.30 ND : 2.43 2.60 2.00 2.05 SD : 2.36 3.01 1.90 1.95 ------------------------------------------------------------------------------ HDR2012000120010731951500Field Crops Field Crops: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :----------------------------------------------------------------------- :Jun 1/:Jul 2/:Jun 1/:Jul 2/:Jun 1/:Jul 2/:Jun 1/:Jul 3/: Jun 1/: Jul 3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : CA : 35.70 35.20 CO : 17.20 17.10 FL : GA : ID : 18.90 19.20 IN : KS : 5/ 5/ KY : MD : MI : 29.90 28.00 MN : 22.50 21.60 10.90 11.40 MO : NE : 22.90 23.40 NC : ND : 18.50 18.20 11.00 12.10 5.17 5.20 OH : OK : SC : SD : 10.20 11.10 5.02 5.18 TN : TX : VA : WA : 19.00 20.60 WV : : US : 23.40 23.60 10.50 11.50 5.13 5.20 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ Based on sales through first half of month. 4/ Marketing year Aug - Jan. 5/ Price not published to avoid disclosure of individual buyers. Field Crops and Apples: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : : July : Cotton, Upland :--------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :----------------------------: Fresh : Jun 1/ : Jul 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ ------------------------------------------------------------------------------ : Dollars per Pound -------- Dollars per Ton ------- Dol/Lb : AL : 6/ 7/ AZ : 1.055 .909 80.00 78.00 90.00 AR : .812 .812 57.00 120.00 50.00 CA : 1.010 .941 95.00 98.00 60.00 CO : 89.00 89.00 90.00 GA : 7/ 7/ ID : 88.00 90.00 69.00 IL : 79.00 84.00 60.00 IN : 74.00 79.00 66.00 IA : 76.00 79.00 54.00 KS : 71.00 74.00 54.00 KY : 52.00 88.00 42.00 LA : .812 .812 MI : 59.00 60.00 55.00 MN : 70.00 76.00 44.00 MS : .813 .812 MO : 66.00 98.00 60.00 MT : 67.00 68.00 61.00 NE : 59.00 60.00 50.00 NV : 97.00 98.00 85.00 NM : 110.00 112.00 93.00 NY : 78.00 81.00 73.00 ND : 50.00 53.00 33.00 OH : 69.00 85.00 45.00 .314 OK : 75.00 86.00 58.00 OR : 100.00 104.00 70.00 PA : 84.00 101.00 80.00 .180 SD : 58.00 59.00 50.00 TN : 6/ .804 TX : .706 .706 77.00 116.00 59.00 UT : 76.00 76.00 59.00 VA : WA : 101.00 94.00 131.00 .166 WI : 63.00 65.00 55.00 WY : 76.00 76.00 71.00 : US : .863 .805 80.60 86.30 63.10 .168 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Based on sales during the first half of the month. 3/ Mid-month. 4/ Equivalent packinghouse-door returns for CA, NY, and WA. Price at point of first sale for other states. 5/ Marketing year Aug - Feb. 6/ Price not published to avoid disclosure of individual buyers. 7/ Sales volume insufficient to establish a price. Upland Cotton and Rice: Prices Received and Marketings, United States, July 1995, with Comparisons ------------------------------------------------------------------------------ Item : Unit : May 1995 1/ : Jun 1995 1/ : Jul 1995 2/ ------------------------------------------------------------------------------ : : Cotton, Upland : : Average Price : Dollars/Pound : .826 .863 .805 Marketings 3/ : 1,000 Bales : 207 248 NA : : Rice : : Average Price : Dollars/Cwt : 6.75 7.03 7.05 Marketings 4/ : 1,000 Cwt : 16848 13793 NA ------------------------------------------------------------------------------ 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Expanded data from sample of about 56 percent of buyers. 4/ Purchases by private firms and rice (rough equivalent) shipped by cooperatives. HDR2012000120010731951500Citrus Fruit Citrus Fruit: Prices and Equivalent Returns, by Utilization, by States, July 1995 ------------------------------------------------------------------------------ : : Equivalent Returns Commodity, : F.O.B. :----------------------------------------------- State : Packed : Packinghouse-door : On-tree and Area : Fresh :----------------------------------------------- : : All : Fresh : Process : All : Fresh :Process ------------------------------------------------------------------------------ : Dollars per Box 1/ : Grapefruit : AZ : 6.28 0.85 0.85 -1.08 -1.08 CA : 15.90 9.13 10.43 -0.45 7.20 8.50 -2.38 Desert Valleys : 13.10 7.67 7.67 5.74 5.74 Other Areas : 15.90 9.15 10.47 -0.45 7.22 8.54 -2.38 CA-AZ : Desert Valleys : 7.30 1.91 1.91 -0.02 : US : 15.20 8.65 9.80 -0.45 6.72 7.87 -2.38 : Lemons : CA : 42.40 22.63 33.90 1.01 19.07 30.34 -2.55 : US : 42.40 22.63 33.90 1.01 19.07 30.34 -2.55 : Limes : FL : 14.10 4.05 4.50 3.00 -1.45 -1.30 -1.80 : Oranges : AZ : 9.68 3.86 3.86 1.83 1.83 Valencia : 9.68 3.86 3.86 1.83 1.83 CA : 14.90 7.63 9.08 -0.50 5.60 7.05 -2.53 Valencia : 14.90 7.63 9.08 -0.50 5.60 7.05 -2.53 CA-AZ : Valencia : 14.90 7.61 9.05 -0.50 5.58 7.02 -2.53 : US : 14.90 7.61 9.05 -0.50 5.58 7.02 -2.53 ------------------------------------------------------------------------------ 1/ Approximate net contents per box are as follows: Grapefruit - AZ and CA, 67 lbs; FL, 85 lbs; TX, 80 lbs; Lemons - 76 lbs; Oranges - AZ and CA, 75 lbs; FL, 90 lbs; TX 85 lbs; Limes - 88 lbs. HDR2012000120010731951500Potatoes Potatoes: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : : :: : : State : Jun : Jul :: State : Jun : Jul : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : 12.00 8.95 :: NC : 9.20 AZ : 5.75 4.70 :: ND - All 1/ : 4.25 CA - All : 12.90 14.80 :: - Fresh 2/ : 4.75 - Winter : :: - Processing : 4.15 - Spring : 12.90 14.70 :: OH : - Summer : 16.80 :: OR : 4.95 5.05 - Fall : :: PA : CO - All 1/ : 6.85 8.65 :: TX : 8.95 13.60 - Fresh 2/ : 7.80 NA :: VA : 11.00 FL : 6.30 :: WA - All : 5.95 4.55 ID - All 1/ : 6.25 7.10 :: - Processing : 4.70 NA - Fresh 2/ : 7.20 NA :: WI - All 1/ : 6.50 - Processing : 5.40 NA :: - Fresh 2/ : 8.55 ME : :: - Processing : 4.45 MI : :: : MN : :: US - All 1/ : 7.19 8.94 NY - All : :: - Fresh 2/ : 10.40 NA - Long Island : :: - Processing : 4.95 NA - Upstate : :: : ------------------------------------------------------------------------------ 1/ Average price of potatoes sold for all uses, including table stock, processing, seed and livestock feed. 2/ Fresh market prices only, includes table stock prices. HDR2012000120010731951500Cattle Cattle: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : Cows 1/ : Steers & Heifers: Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Jun 2/ : Jul 3/ : Jun 2/ : Jul 3/ : Jun 2/ : Jul 3/ : Jun 2/ : Jul 3/ ------------------------------------------------------------------------------ : Dollars per Cwt : AZ : 34.00 33.50 62.50 62.00 60.20 59.70 75.00 74.00 AR : 38.70 36.60 61.80 59.80 50.00 48.00 60.50 57.10 CA : 35.50 33.20 57.30 54.30 48.40 45.20 71.00 66.50 CO : 39.40 36.80 63.90 62.40 62.70 61.10 79.20 79.00 FL : 36.30 33.50 57.30 55.00 44.50 43.20 73.20 69.00 GA : 38.40 35.70 56.80 54.70 44.10 42.00 67.90 64.40 ID : 36.20 34.00 60.10 59.10 54.40 53.30 69.90 68.40 IL : 37.90 35.50 62.90 62.40 62.40 61.90 110.00 112.00 IA : 38.80 38.80 63.70 62.70 60.00 59.40 74.30 73.30 KS : 41.90 37.90 63.30 61.40 63.10 61.20 76.00 76.00 KY : 38.50 38.00 60.00 59.00 54.80 54.00 67.00 63.00 LA : 36.80 34.00 58.10 55.00 43.40 41.10 66.20 62.00 MI : 39.30 38.70 58.50 57.00 53.00 51.70 72.00 70.50 MN : 38.40 37.90 56.70 55.70 55.00 54.10 74.20 75.20 MO : 38.80 37.30 63.20 62.70 52.50 55.60 70.50 67.70 MT : 39.90 40.00 63.00 58.20 47.30 47.30 70.50 66.00 NE : 39.40 39.20 65.00 63.90 64.50 63.40 78.00 75.00 NM : 39.70 38.70 60.80 60.30 53.20 51.90 68.30 68.20 ND : 39.10 39.00 61.80 60.00 49.60 49.50 72.00 74.00 OH : 36.00 35.00 61.30 62.00 58.80 59.30 75.80 77.00 OK : 38.10 36.60 64.10 64.10 61.80 60.80 72.30 69.70 OR : 36.00 36.00 62.50 62.00 54.60 54.20 70.50 70.00 PA : 40.00 38.80 62.00 62.10 56.30 56.00 95.40 87.00 SD : 42.10 38.40 62.70 62.00 58.30 57.00 74.80 74.00 TN : 33.10 29.70 58.80 55.20 48.50 45.00 60.10 60.00 TX : 35.30 32.90 63.00 62.40 61.10 60.30 73.30 70.30 VA : 37.60 36.90 62.70 60.00 53.20 51.90 68.10 65.00 WI : 40.00 36.80 61.20 58.60 48.90 46.00 107.00 101.00 WY : 42.10 42.50 65.30 64.90 60.40 58.20 76.80 76.80 : US : 38.20 36.30 63.30 62.00 60.90 59.70 77.10 75.20 ------------------------------------------------------------------------------ 1/ Beef cows and cull dairy cows sold for slaughter. 2/ Entire month. 3/ Mid-month. 4/ "Cows" and "steers and heifers" combined. HDR2012000120010731951500Hogs Hogs: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 28.10 29.50 41.00 44.60 39.70 43.10 IL : 28.40 28.40 41.50 45.40 40.50 44.00 IN : 28.80 29.30 43.00 47.40 41.20 45.00 IA : 30.00 30.30 43.70 48.00 43.10 47.10 KS : 27.50 27.10 42.00 46.50 40.10 44.20 KY : 29.00 30.00 42.00 46.00 41.50 45.40 MI : 26.40 27.70 43.70 46.40 41.10 43.60 MN : 29.60 29.30 44.50 49.00 43.80 48.00 MO : 29.00 29.20 42.00 46.20 41.40 45.40 NE : 30.40 31.00 44.70 49.30 44.40 48.90 NC : 29.00 29.50 43.70 48.80 43.40 48.40 OH : 28.40 30.00 43.90 47.00 43.10 46.20 PA : 26.20 26.10 40.10 43.00 38.00 40.50 SC : 27.50 27.20 41.40 44.80 40.50 43.70 SD : 29.60 30.90 43.70 49.60 43.00 48.70 TN : 27.60 27.30 41.40 45.20 40.00 43.40 TX : 25.60 26.30 38.20 41.20 35.60 38.10 VA : 28.90 29.00 43.10 46.50 42.80 46.20 WI : 27.60 27.10 42.30 46.90 40.40 44.30 : US : 28.70 28.90 43.20 47.50 42.30 46.30 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. HDR2012000120010731951500Sheep and Poultry Sheep and Poultry: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : Sheep : Lambs : July :----------------------------------------------------------------------- State : : : : : Turkeys : Broilers: Eggs : Jun 1/ : Jul 2/ : Jun 1/ : Jul 2/ : 2/ : 1/3/ : 2/4/ ------------------------------------------------------------------------------ : --------- Dollars per Cwt --------- Dollars per Pound Dol/Doz : AL : .345 .438 AZ : AR : .43 .340 .570 CA : 24.00 25.00 84.00 85.00 .42 .335 .390 CO : 27.10 28.00 88.10 90.50 CT : 1.020 DE : .345 FL : .400 GA : .355 .458 ID : 26.10 26.80 83.10 81.40 IN : .41 .420 IA : 28.40 28.90 87.20 87.40 .38 .374 KS : 27.10 28.00 88.20 90.40 ME : .960 MD : .345 MI : .400 MN : 24.10 25.30 89.40 86.40 .34 .400 MS : .345 .560 MO : .41 .397 MT : 28.00 30.10 86.80 86.00 NE : 29.40 28.70 89.90 82.70 NM : 27.50 28.00 83.50 80.00 NY : .691 NC : .39 .335 .438 OH : 27.60 25.00 82.90 78.00 .451 OR : 24.50 24.50 73.00 74.00 PA : .38 .360 .510 SC : .513 SD : 28.50 31.40 90.70 91.70 TX : 33.20 32.90 85.20 87.60 .350 .550 UT : 21.00 20.00 83.00 81.00 VA : .45 .350 WA : .664 WY : 28.30 29.70 87.40 87.10 : US : 29.20 28.50 85.70 85.60 .398 .345 .480 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ AR and TX prices are actual liveweight prices. All other States prices are equivalent liveweight prices, derived from ready-to-cook (RTC) prices using the following formuala: (RTC price minus processing cost) * (dressing percentage) = equivalent liveweight price. 4/ Market (table) eggs. Includes eggs sold retail by the producer. HDR2012000120010731951500Milk and Milk Cows Milk and Milk Cows: Prices Received, by States, June and July 1995 ------------------------------------------------------------------------------ : June : July :----------------------------------------------------------------------- State : Fluid Grade : Manufacturing : All Milk : All Milk : : Milk 1/ : Grade Milk : 2/ : 2/3/ : Milk :---------------------------------------------------------------:Cows 4/ : Price:Fat Test: Price:Fat Test: Price:Fat Test: Price:Fat Test: ------------------------------------------------------------------------------ :Dol/Cwt Pct Dol/Cwt Pct Dol/Cwt Pct Dol/Cwt Pct Dol/Head : AL : 13.70 3.43 11.20 3.50 13.70 3.43 13.80 3.50 1100 AR : 13.00 3.40 11.90 4.05 13.00 3.41 12.90 3.40 1100 CA : 11.10 3.56 11.10 3.97 11.10 3.57 11.10 3.56 1230 CO : 12.20 3.57 12.20 3.57 12.30 3.52 1180 FL : 15.10 3.42 15.10 3.42 15.00 3.50 1190 GA : 14.40 3.48 14.40 3.48 14.40 3.49 1150 ID : 11.50 3.44 11.60 3.60 11.50 3.45 11.70 3.40 1090 IL : 12.10 3.58 11.50 3.67 12.10 3.59 12.00 3.56 1150 IN : 12.40 3.57 10.80 3.79 12.30 3.58 12.40 3.54 1100 IA : 11.90 3.54 11.00 3.57 11.80 3.54 11.70 3.48 1100 KS : 11.70 3.49 10.40 3.52 11.60 3.49 11.90 3.42 1170 KY : 13.00 3.48 10.70 3.51 12.90 3.48 12.90 3.46 1040 LA : 13.20 3.46 13.20 3.46 13.10 3.50 1160 MD : 12.50 3.52 12.50 3.52 12.50 3.52 1180 MI : 12.30 3.51 11.40 3.51 12.30 3.51 12.50 3.50 1150 MN : 12.10 3.57 10.95 3.54 11.96 3.57 12.10 3.56 1070 MS : 13.30 3.45 13.30 3.45 13.20 3.45 1100 MO : 12.50 3.49 11.00 3.60 12.40 3.50 12.30 3.48 980 NE : 11.80 3.54 11.00 3.54 11.70 3.54 11.60 3.48 1170 NM : 11.10 3.40 11.10 3.40 11.20 3.41 1190 NY : 12.30 3.52 12.30 3.52 12.40 3.48 1110 NC : 13.40 3.50 10.40 3.72 13.40 3.50 13.30 3.48 1120 ND : 11.50 3.43 10.30 3.44 11.00 3.43 11.10 3.46 1040 OH : 12.40 3.59 10.60 3.62 12.20 3.59 12.20 3.55 1130 OK : 12.40 3.40 10.20 3.65 12.40 3.40 12.50 3.39 1120 OR : 12.00 3.54 10.50 3.72 12.00 3.54 12.00 3.50 1140 PA : 13.00 3.54 11.20 3.71 13.00 3.54 13.00 3.49 1150 TN : 13.40 3.45 10.50 3.49 13.30 3.45 13.40 3.43 1060 TX : 12.70 3.46 12.70 3.46 12.40 3.44 1140 UT : 11.60 3.51 11.00 3.50 11.50 3.51 11.40 3.45 1130 VT : 12.60 3.60 12.60 3.60 12.60 3.55 1120 VA : 13.10 3.48 10.10 3.45 13.00 3.48 13.00 3.48 1200 WA : 11.90 3.54 11.90 3.54 11.90 3.53 1180 WI : 12.20 3.63 11.48 3.66 12.14 3.63 12.30 3.59 1100 : US : 12.20 3.54 11.10 3.63 12.10 3.54 12.20 3.52 1130 ------------------------------------------------------------------------------ 1/ Including surplus diverted to manufacturing. 2/ Before deductions for hauling and government withholding. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 3/ Preliminary. 4/ Animals sold for dairy herd replacement only. Prices published Jan, Apr, Jul and Oct. HDR2012000120010731951500Parity Price Equivalent Parity Price Equivalent for Manufacturing Milk 1/: United States, June and July 1995, with Comparisons ------------------------------------------------------------------------------ Item : Jul 1994 : Jun 1995 : Jul 1995 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 24.52 24.95 25.04 Average Price F.O.B.......Dol per Cwt : 11.10 11.10 2/11.20 Average Fat Test of Milk..Percent : 3.57 3.63 2/3.59 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 1995 is 91.4 percent of the parity price of all milk sold to plants, compared with 91.5 percent in 1994. For additional details, see January 1995 issue of Agricultural Prices. 2/ Preliminary. United States Parity Prices for Farm Products and Average Prices Received as Percent of Parity Prices Based on Data for July 1995, with Comparisons 1/ ------------------------------------------------------------------------------- : : Parity Prices :Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :------------------------------------------ : Prices : Jul : Jun : Jul : Jul : Jun : Jul : : 1994 : 1995 : 1995 : 1994: 1995: 1995 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .611 8.37 8.61 8.62 36 45 49 Rice, Cwt : 1.71 23.10 24.10 24.10 33 29 29 Corn, Bu : .414 5.77 5.83 5.84 40 43 46 Cotton, Lb : American Upland : .113 1.55 1.59 1.59 38 54 51 Extra Long Staple : .147 2.00 2.07 2.07 Peanuts, Lb : .0439 .599 .619 .619 Tobacco, By Type, Lb : Flue-Cured 11-14 : .252 3.47 3.55 3.55 VA Fire-Cured, 21 : .226 3.01 3.18 3.19 KY-TN Fire-Cured, 22-23 : .291 3.89 4.11 4.10 Burley, 31 : .258 3.56 3.64 3.64 Maryland, 32 : .218 2.95 3.06 3.07 Dark Air-Cured, 35-36 : .241 3.23 3.41 3.40 Sun-Cured, 37 : .198 2.61 2.79 2.79 PA Seedleaf, 41 : .156 2.12 2.23 2.20 Cigar Filler & Binder, : 42-44, 54-55 : .198 2.67 2.79 2.79 Puerto Rican Filler, 46 : .173 2.37 2.44 2.44 Cigar Binder, 51-52 : .344 4.43 4.85 4.85 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.94 26.80 27.30 27.40 2/46 2/46 2/45 Honey, Extracted, Lb : 3/.0812 1.15 1.18 1.14 : Wool and Mohair : Wool, Lb : .282 3.79 3.90 3.98 Mohair, Lb : .708 9.79 10.10 9.98 : Other Nonbasic : Barley, Bu : .370 5.12 5.21 5.22 38 43 46 Cottonseed, Ton : 14.50 197.00 204.00 204.00 Dry Edible Beans, Cwt : 3.24 43.60 45.70 45.70 60 51 52 Flaxseed, Bu : .759 10.80 10.70 10.70 40 48 49 Oats, Bu : .230 3.23 3.24 3.24 37 43 46 Potatoes, Cwt : .830 11.50 11.70 11.70 65 61 76 Rye, Bu : .273 4.28 3.86 3.85 Sorghum Grain, Cwt : .639 9.25 9.00 9.01 40 52 54 Soybeans, Bu : .885 12.30 12.50 12.50 48 45 47 Sweetpotatoes, Cwt : 1.36 22.30 19.20 19.20 Apples, Fresh, Lb 5/ : .0277 .379 .390 .391 35 40 43 Citrus (equiv on-tree),box: Grapefruit : .713 9.63 10.00 10.10 15 45 67 Lemons : 1.17 15.70 16.50 16.50 40 62 116 Limes (FL) : 1.46 19.60 20.60 20.60 21 43 Oranges : .886 12.30 12.50 12.50 36 42 45 Tangerines : 1.96 26.00 27.60 27.60 Temples (FL) : .734 10.30 10.30 10.30 Beef Cattle, Cwt : 10.10 136.00 142.00 142.00 46 43 42 Calves, Cwt : 12.90 171.00 182.00 182.00 49 42 41 Hogs, Cwt : 6.97 97.30 98.20 98.30 43 43 47 Lambs, Cwt : 10.20 138.00 144.00 144.00 53 60 59 Sheep, Cwt : 4.06 52.50 57.10 57.20 57 51 50 Eggs, Doz : .0927 1.29 1.31 1.31 2/49 2/48 2/49 Turkeys, Live, Lb : .0600 .836 .845 .846 49 47 47 ------------------------------------------------------------------------------- -- continued Parity Prices Based on Data for July 1995, United States 1/ (continued) ------------------------------------------------------------------------------- Other Nonbasic : Adj Base : Parity : Other Nonbasic : Adj Base : Parity Commodities : Prices : Prices : Commodities : Prices : Prices ------------------------------------------------------------------------------- : Dollars : : Dollars : : : Field Crops and : :Noncitrus Fruit : Misc Commodities : : Pears, Ton : Hops, Lb : .252 3.55 : Fresh 5/ : 50.00 705.00 Tobacco, Lb : : Dried, CA 7/ : 133.00 1880.00 Type 61 : 2.65 37.40 : Plums, CA, Ton : : : Fresh, Equiv : Noncitrus Fruit : : on-Tree : 52.00 733.00 Apples, Ton 7/ : : Prunes, Dried, : Processing : 18.00 254.00 : CA, Ton 7/ : 133.00 1880.00 Apricots, Ton : : Prunes and Plums,: Fresh 8/ : 159.00 2240.00 : Excl CA, Ton : Dried, CA : 303.00 4270.00 : Fresh 10/ : 56.10 791.00 Avocados, Ton 8/ : 171.00 2410.00 : Processing 7/ : Cherries : : Excl Dried : 19.10 269.00 Sweet, Ton : 135.00 1900.00 : : Tart, Lb : .0294 .415 :Tree Nuts 11/ : Cranberry, Bbl 6/: 7.10 100.00 : Almonds, Lb : .188 2.65 Dates, CA, Ton 8/: 135.00 1900.00 : Filberts, Ton : 115.00 1620.00 Grapes, Ton : : Walnuts, Ton : 164.00 2310.00 Raisin Variety : 130.00 1830.00 : : Other, Dried : 47.60 671.00 :Vegetables, Cwt 12/: Nectarines : : Fresh : Fresh, Calif, : : Carrots 9/ : 1.52 21.40 Ton 8/ : 59.20 835.00 : Cauliflower 9/ : 4.03 56.80 Olives, CA : : Celery 9/ : 1.80 25.40 Canning, Ton 6/: 94.10 1330.00 : Honeydew Melons : 2.27 32.00 Peaches : : Lettuce : 1.95 27.50 Fresh, Lb 5/ : .0409 .577 : Onions 9/ : 1.77 25.00 Dried, CA, : : Tomatoes : 4.38 61.80 Ton : 136.00 1920.00 : : Processing 6/ : : : Excl Dried : : : Clingstone, : : : CA, Ton : 30.50 430.00 : : ------------------------------------------------------------------------------- 1/ Parity prices are computed under the provisions of Title III, Subtitle a, Section 301 (a) of the Agricultural Adjustment Act of 1938 as amended by the Agricultural Acts of 1948, 1949, and 1956. See January and July Agricultural Prices for details on adjusted base price and parity price computations. 2/ Seasonally adjusted price as percentage of parity price. 3/ Wholesale extracted. Adjusted base price derived from state annual averages prices weighted by production. For 1982 through 1985 the national averages are the support prices. 4/ Average local market price, excluding incentive payments. 5/ Equivalent packinghouse-door returns for CA, NY (apples only), OR (except peaches), and WA. Price at point of first sale for other states. 6/ Equivalent returns for bulk fruit at first delivery point. 7/ Equivalent returns at processing plant door. 8/ Equivalent returns at packinghouse door. 9/ Includes some processing. 10/ Based on "as sold" prices for fresh fruit in all states. 11/ Prices in-shell basis except almonds which are shelled basis. 12/ F.O.B. shipping point prices. HDR2012000120010731951500Sugar Crops Sugar Crops: Marketing Year Average Price Received by Farmers and Value of Production, United States, 1994 Crop 1/ ------------------------------------------------------------------------------ Sugarbeets : Sugarcane 2/ ------------------------------------------------------------------------------ : : For Sugar : Sugar and Seed Price : Value :------------------------------------------------- : of : Price : Value of : Value of : Production : : Production : Production ------------------------------------------------------------------------------ Dollars 1,000 Dollars Dollars 1,000 Dollars per Ton per Ton 39.60 1,186,644 29.00 880,817 922,664 ------------------------------------------------------------------------------ 1/ Preliminary. Final prices and value of production by states will be published in "Crop Values" January 1996. 2/ Includes FL, HI, LA, and TX. Seasonal Adjustment Factors, Eggs and Milk Base prices used in calculating parity prices are averages of prices received by farmers for several years; therefore, any seasonal variation is largely averaged out. To facilitate comparisons with parity prices, monthly prices for eggs and milk are adjusted for seasonal variation. The table below presents the adjustment factors which will be used the next 12 months. The adjusted price is calculated by dividing the monthly price by the adjustment factor. The factors are based on prices for the years 1985-94. Seasonal Adjustment Factors, Eggs and Milk, United States ------------------------------------------------------------------------------ Year : : and : Eggs : Milk 1/ Month : : ------------------------------------------------------------------------------ 1995 : : Jul : 94 100 Aug : 93 101 Sep : 97 102 Oct : 100 103 Nov : 97 104 Dec : 105 102 : 1996 : : Jan : 105 100 Feb : 103 98 Mar : 101 96 Apr : 109 97 May : 101 98 Jun : 95 99 ------------------------------------------------------------------------------ 1/ All milk sold to plants and dealers. HDR2012000120010731951500Apples Apples for Fresh Use: Prices Received, by State, July 1994 - June 1995, and United States, July 1992 - June 1995 1/ ------------------------------------------------------------------------------ : 1994 : 1995 State:------------------------------------------------------------------------ : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr : May : Jun ------------------------------------------------------------------------------ : Dollars per Pound : CA : .327 .238 .362 .267 .242 .259 .242 .239 MI : .141 .145 .116 .117 .115 .125 .122 .126 .128 .128 .128 NY : .167 .164 .169 .174 .172 .186 .196 .193 OH :.273 .258 .225 .210 .211 .205 .229 .226 .206 .206 PA :.155 .170 .170 .190 .160 .160 .200 .170 .200 .200 .170 .170 VA : .160 .150 .160 .160 .160 .150 .160 .160 .160 .170 WA : .212 .170 .156 .197 .201 .186 .181 .163 .156 .153 ------------------------------------------------------------------------------ Year : Jul : Aug : Sep : Oct : Nov : Dec :Jan 2/: Feb : Mar : Apr : May : Jun ------------------------------------------------------------------------------ : United States : 1992 :.286 .333 .271 .212 .194 .199 .183 .167 .145 .143 .149 .161 1993 :.178 .244 .241 .211 .193 .186 .187 .178 .166 .155 .143 .135 1994 :.194 .290 .208 .192 .164 .192 .195 .183 .182 .166 .155 .153 ------------------------------------------------------------------------------ 1/ Equivalent packinghouse-door returns for CA, NY, OR, and WA; price at point of first sale for other states. 2/ January of the following year. Pears for Fresh Use: Prices Received, United States, July 1992 through June 1995 1/ ------------------------------------------------------------------------------ Year : Jul : Aug : Sep : Oct : Nov : Dec :Jan 2/: Feb : Mar : Apr : May : Jun ------------------------------------------------------------------------------ : Dollars per Ton : 1992 : 300 273 364 390 433 391 370 417 412 429 505 538 1993 : 390 344 366 350 330 281 235 220 202 182 172 175 1994 : 148 170 278 248 271 253 222 288 346 374 354 340 ------------------------------------------------------------------------------ 1/ Equivalent packinghouse-door returns for CA, OR, and WA; price at point of first sale for other states. 2/ January of the following year. HDR2012000120010731951500Parity Prices Parity Prices Parity Prices, based on data for July 1995 for all commodities for which parity prices are computed, together with base price data, are presented in the tables on pages A-28 through A-31. Average prices for 1993 and 1994 and averages for 1985-94 for use in parity computations are also shown. Parity Prices shown on the following pages are computed under the provisions of Title III. Subtitle A, Section 301(a) of the Agricultural Adjustment Act of 1938 as amended by the Agricultural Acts of 1948, 1949, 1954 and 1956. The major provisions of the amended Act relating to the calculation of parity prices are as follows: "(1) (A) The 'parity price' for any agricultural commodity, as of any date, shall be determined by multiplying the adjusted base price of such commodity as of such date by the parity index as of such date. "(B) The 'adjusted base price' of any agricultural commodity, as of any date, shall be (i) the average of the prices received by farmers for such commodity, at such time as the Secretary may select during each year of the ten-year period ending on the 31st of December last before such date, or during each marketing season beginning in such period if the Secretary determines use of a calendar year basis to be impracticable, divided by (ii) the ratio of the general level of prices received by farmers for agricultural commodities during the period January 1910 to December 1914, inclusive. "(C) The 'parity index', as of any date, shall be the ratio of (i) the general level of prices for articles and services that farmers buy, wages paid hired farm labor, interest on farm indebtedness secured by farm real estate, and taxes on farm real estate, for the calendar month ending last before such date to (ii) the general level of such prices, wages, rates, and taxes during the period January 1910 to December 1914, inclusive. "(D) The prices and indexes provided for herein, and the data used in computing them, shall be determined by the Secretary, whose determination shall be final." Section 301(a) (1) (F) outlines authority for the Secretary of Agriculture to make special adjustments in the method of computing parity prices for particular commodities if the method outlined in the Act results in parity prices seriously out of line with those of other commodities. The parity prices shown in this report are based on the provisions of the amended Act. Briefly, the actual method of computation is as follows: a. The average of prices received by farmers for individual commodities for the 10 preceding years is calculated (for 1995 this is the 1985-94 average). An allowance for unredeemed loans and other supplemental payments resulting from price support programs, such as the deficiency payments for grains and cotton, is included for those commodities for which applicable. b. This 10-year average is divided by the average of the Index of Prices Received by Farmers for the same 10 preceding calendar years, adjusted to include an allowance for unredeemed loans and other supplemental price support operations, to give an "adjusted base price". c. Parity prices are computed by multiplying the "adjusted base prices" by the current Parity Index (the Index of Prices Paid by Farmers, Including Interest, Taxes, and Wage Rates, 1910-14=100). Parity prices are calculated in terms of prices received by farmers in the local markets in which they ordinarily sell. This means that the parity prices apply to the average of all classes and grades of the commodity as sold by all farmers in the United States, except as otherwise specified. Fruits and vegetables for fresh use and for processing are usually considered separate commodities and separate parity prices are calculated. The Agricultural Marketing Agreement Act of 1937 provided for parity prices for certain commodities covered by a marketing agreement or order program. Under present legislation, U.S. parity prices, with appropriate adjustments where needed, may be used for the purpose of this Act. The indexes used in the computation of parity prices are published currently in "Agricultural Prices". For the purpose of illustrating the computation of parity prices, the calculation of the parity price for corn based on data for July 1995 is given below. The 120-month, January 1985-December 1994 average of prices received by farmers for corn was $2.73 per bushel, adjusted to allow for unredeemed loans and other supplemental payments resulting from price support operations. The 120-month average of the Index of Prices Received by Farmers, adjusted to include an allowance for unredeemed loans, etc., was 660 (1910-14=100). Dividing $2.73 by 6.60 gives $.414 per bushel, the adjusted base price which is multiplied by 1410 percent, the Parity Index (1910-14=100), based on data for July 1995. This gives $5.84 per bushel, the parity price of corn during August 1995. HDR2012000120010731951500Reliability of Prices Received Narrative Reliability of Prices Received by Farmers Estimates Definition: Prices received represent sales from producers to first buyers. They include all grades and qualities. The average commodity price from the survey multiplied by the total quantity marketed theoretically should give the total cash receipts for the commodity. Survey Procedures: Primary sales data used to determine grain prices were obtained from probability samples of 2600 mills and elevators. These procedures ensure that virtually all grain moving into commercial channels has a chance of being included in the survey. Generally, States surveyed account for 90 percent or more of total U.S. production. Livestock prices are obtained from packers, stockyards, auctions, dealers, and market check data from AMS-USDA, private marketing organizations, and state commodity groups and agencies. Inter-farm sales of grain and livestock are not included since they represent very small percentages of the total marketings. Grain marketed for seed is also excluded. Fruit and vegetable prices are obtained from sample surveys and market check data from AMS-USDA, private marketing organizations, state agencies, and universities. Summary and Estimation Procedures: Survey quantities sold are expanded by strata to state levels and used to weight average strata prices to a state average. State prices are then weighted to a U.S. price based on expanded marketings. Recommendations are prepared by the State Statistical Offices and reviewed by the Agricultural Statistics Board in Washington, D.C. State recommendations are reviewed for reasonableness with survey data, other States, and recent historic estimates. Revisions: For most items, the current month's price represents a 3-5 day period around the mid-month. Previous month's prices represent actual dollars received for quantities sold during the entire month. Revisions are published in monthly issues of "Agricultural Prices" and in the annual summary published in July. A schedule of monthly revisions is published in the December issue of "Agricultural Prices" and in the July annual summary. Reliability: U.S. price estimates generally have a sampling error of less than one half percent for the major commodities such as corn, wheat, soybeans, cotton, and rice. To assist users in evaluating the reliability of prices received estimates for major grain commodities, the "Root Mean Square Error" is shown in the table on the next page. The "Root Mean Square Error" is a statistical measure based on past performance and is computed using the difference between first and final estimates. The "Root Mean Square Error" for the 5-month corn price is 0.2 percent. This means that chances are 2 out of 3 that the current 5-month price of $2.47 per bushel will not be above or below the final 5-month price by more than 0.2 percent, or about half of a cent. Chances are 9 out of 10 (90% confidence interval) that the difference will not exceed 0.3 percent, or about three-fourths of a penny. Reliability of Five-Month Prices Received Estimates 1983 - 1992 1/ ------------------------------------------------------------------------------ :Root Mean Square Error :: 10-Year Record of :-----------------------:: Differences Between : :90% Confidence :: Preliminary and Final : : Level ::-------------------------------------- Commodity :Percent:---------------:: Dollars : No. of Years : : : ::-------------------------------------- : :Percent:Dollars:: : : : Below : Above : : : :: Avg : Min : Max : Final : Final ------------------------------------------------------------------------------ : : Corn : .2 .3 .008 .001 .000 .010 0 1 Wheat : .1 .2 .007 .002 .000 -.010 2 0 Sorghum : .2 .3 .007 .002 .000 -.010 1 1 Barley : .5 .9 .020 .006 .000 .030 1 2 Oats : 1.4 2.5 .035 .010 .000 .060 1 2 ------------------------------------------------------------------------------ 1/ Five-month prices received estimates represent weighted average prices for the first five months of the marketing year. For corn and sorghum the five month period is September-January. For wheat, barley, and oats the five month period is June-October. HDR2012000120010731951500Prices Paid Narrative Prices Paid The July Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 108 (1990-92=100), unchanged from April, but up 2 points (1.9 percent) from July 1994. Production Index: The farm production, goods, and services index for July 1995, at 107, was unchanged from April 1994. The index was up 2 points (1.9 percent) from July a year ago. Since April, price increases for farm services, farm supplies and repairs, fertilizer, and chemicals offset price decreases for feeder livestock and feed. Livestock and Poultry: The July 1995 livestock and poultry index declined 1.2 percent since April to 81. The index was 11.0 percent below a year earlier. July feeder cattle prices, at $66.90 per cwt, were up 40 cents from April. July feeder pig prices averaged $55.50 per cwt, a decrease of $19.50 from the previous quarter. Feed: At 99, the feed index declined 1.0 percent since April and 4.8 percent from July 1994. Since April, lower prices for concentrates, supplements, and hay were partially offset by higher feed grain and complete feed prices. Farm Services: The farm services index, at 118, rose 2.6 percent from April and 6.3 percent from a year ago. Prices were higher for utilities and agricultural trucking. Supplies and Repairs: The index rose to 112, a 1.8 percent increase from last quarter. Since July 1994, the index was up 0.9 percent. Higher July prices for labor services and replacement parts were the major contributors. Fuels: The fuels index, at 92, was unchanged from April but 10.8 percent higher than July 1994. Higher July diesel fuel and gasoline prices were offset by lower LP fuels. Fertilizer: The index was up 0.8 percent to 123 from April. The index was 2.8 percent higher than a year ago. Higher nitrogen and phosphate prices in July more than offset lower mixed fertilizer prices. Ag Chemicals: The agricultural chemical index rose 0.9 percent to 116 from last quarter and 2.7 percent from July 1994. Lower herbicide and insecticide prices in July partially offset higher prices for fungicides. Consumer Price Index: The June 1995 Consumer Price Index for All Urban Consumers (CPI-U) before seasonal adjustment rose 0.2 percent to a level of 152.5 (1982-84=100) compared to 152.2 in May. The April 1995 index was 151.9. For the 12-month period ending in June, the overall index increased 3.0 percent. The seasonally unadjusted fuel index rose 1.8 percent from May 1995, and 8.0 percent from June 1994. HDR2012000120010731951500Index Numbers Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, July 1995, With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :------------------------------------------------ And : 1994 : 1995 : 1994 : 1995 Ratios :------------------------------------------------ : JUL : APR : JUL : JUL : APR : JUL -------------------------------------------------------------------------------- Prices Paid by Farmers for : : Commodities & Services, : : Interest, Taxes, & Wage : : Rates (PPITW) : 1388 * 1407 1410 : 106 108 108 Production : 1023 * 1027 1025 : 105 *107 107 Feed : 506 * 489 483 : 104 100 99 Livestock and Poultry : 1168 1046 1028 : 91 82 81 Seeds : 1091 1091 1091 : 110 110 110 Fertilizer : 400 445 450 : 109 122 123 Agricultural Chemicals : 698 707 712 : 113 115 116 Fuels : 638 715 716 : 83 92 92 Farm Supplies & Repairs : 790 * 781 797 : 111 110 112 Autos & Trucks : 3065 * 3200 3203 : 115 121 121 Farm Machinery : 2739 2961 2961 : 109 119 119 Building Materials : 1488 * 1544 1547 : 110 114 114 Farm Services & Rent : 1330 1363 1384 : -- -- -- Farm Services : -- -- --- : 111 115 118 Rent : -- -- --- : 108 108 108 Interest 1/ : 2310 2545 2545 : 92 101 101 Taxes 2/ : 3002 3091 3091 : 112 115 115 Wage Rates : 4012 * 4174 4174 : 107 *112 112 Production, Interest, Taxes, : : & Wage Rates (PITW) : 1409 * 1439 1436 : 105 107 107 Family Living-CPI 3/ : 1406 * 1434 1436 : 110 *113 113 -------------------------------------------------------------------------------- Parity Ratio 4/ : 44 * 45 46 : Parity Ratio Adjusted 5/ : 46 * 48 48 : PPITW Adjusted for : : Productivity 6/ : 924 * 963 963 : -------------------------------------------------------------------------------- Crop Sector (PPITW) : : 108 111 112 Livestock Sector (PPITW) : : 105 105 105 -------------------------------------------------------------------------------- Farm Sector (Production) : : 100 * 95 93 Non-Farm Sector (Production) : : 108 113 114 -------------------------------------------------------------------------------- * Revised. 1/ Interest per acre on farm real estate debt and interest rate on farm non-real estate debt. 2/ Farm real estate taxes payable per acre. 3/ Bureau of Labor Statistics, Consumer Prices Index for All Urban Consumers (CPI- U), for the previous month converted by the USDA. 4/ Ratio of index of Prices Received to PPITW (1910-14=100). 5/ Based on estimated cash receipts, from marketings and government payments, the preliminary adjustment factor is 1.058 for 1995 and the revised factor is 1.045 for 1994. 6/ PPITW is adjusted based on productivity trend for the prior 15 years. Prices Paid Indexes and Annual Weights For Selected Production Input Sub-Components United States, July 1995 ------------------------------------------------------------------------------ : Relative Weights : Input Indexes : :----------------------------- Index :5-Year Moving Average: 1994 : 1995 :--------------------------------------------------- : 1994 : 1995 : Ann Avg : Jul : Apr : Jul ------------------------------------------------------------------------------ : -- percent -- -- (1990-92=100) -- : Production Items : 66.4 66.3 106 105 *107 107 : Feed : 11.9 11.5 105 104 100 99 Complete Feeds : 5.3 5.0 106 108 97 101 Feed Grains : 2.1 2.1 103 96 *100 115 Hay/Forages : 1.3 1.3 111 105 111 103 Concentrates : 1.9 1.8 106 108 96 77 Supplements : 1.3 1.3 97 92 108 89 Livestock & Poultry : 8.5 8.4 95 91 82 81 Feeder Cattle : 6.6 6.5 95 92 79 79 Milk Cow Replacements : .7 .7 103 103 82 100 Feeder Pigs : .7 .7 73 65 102 60 Poultry : .5 .5 105 104 103 103 Seeds : 2.7 2.7 109 110 110 110 Field Crops : 2.4 2.4 109 110 109 109 Grasses/Legumes : .3 .3 113 114 119 119 Fertilizer : 4.9 4.7 106 109 122 123 Mixed Fertilizer : 2.1 2.1 101 104 116 109 Nitrogen : 2.0 2.0 114 118 135 143 Potash & Potassium : .8 .6 97 99 107 111 Agricultural Chemicals : 3.2 3.4 112 113 115 116 Herbicides : 2.0 2.1 110 111 113 113 Insecticides : .8 .8 117 117 121 121 Fungicides/Other : .4 .5 114 115 116 122 Fuels : 2.9 2.9 84 83 92 92 Diesel : 1.6 1.6 82 81 87 88 LP Gas : .3 .3 86 86 97 94 Gasoline : 1.0 1.0 85 81 96 99 Farm Supplies & Repairs : 5.5 5.4 110 111 110 112 Supplies : 1.9 1.8 106 107 *109 110 Repairs : 3.6 3.6 111 113 111 114 Autos and Trucks : 1.4 1.4 115 115 121 121 Autos : .2 .2 111 111 119 118 Trucks : 1.2 1.2 116 116 121 122 Farm Machinery : 4.6 4.5 110 109 119 119 Self-Propelled : 1.8 1.8 110 110 117 117 Tractors : 1.0 1.0 110 108 121 122 Other Machinery : 1.8 1.7 109 109 118 119 Building Materials : 2.3 2.4 109 110 114 114 Farm Services : 10.8 11.1 112 111 115 118 Custom Rates : 1.1 1.1 104 104 104 104 Other Services : 9.7 10.0 113 113 116 120 Rent : 7.7 7.8 108 108 108 108 Cash : 3.5 3.5 115 115 115 115 Share : 4.2 4.3 102 102 102 102 ------------------------------------------------------------------------------ HDR2012000120010731951500Feed Price Ratios Feed Price Ratios: With Comparisons, United States, July 1995 ------------------------------------------------------------------------------- : 1994 : 1995 Feed Price Ratio 1/ :----------------------------- : Jul : Jun : Jul ------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower equal in : value to 1 pound of broiler, live weight. : * 5.6 5.0 5.0 Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs. : * 8.0 * 7.8 7.9 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight. : *18.4 *16.9 17.3 Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk. : * 2.61 * 2.47 2.44 : Steer Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight. : *28.4 *25.2 23.2 Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight. : * 6.9 *6.3 6.0 ------------------------------------------------------------------------------- * Revised. 1/ Effective January 1995, commercial feed prices (except corn) are surveyed only in April. Feeder Livestock and Poultry: Prices Paid, With Comparisons United States, July 1995 ------------------------------------------------------------------------------- : : 1994 : 1995 Item : Unit :------------------------------------------- : : Jul : Apr : Jul ------------------------------------------------------------------------------- : : Dollars Broiler Chicks 1/ : Per 100 : Egg-Type Chicks 1/ : " : Feeders and Stockers : : Cattle and Calves : Cwt : 77.80 66.50 66.90 Pigs : " : 59.50 56.00 55.50 Turkey Poults 1/ : Each : ------------------------------------------------------------------------------- 1/ Quarterly prices discontinued January 1994. Annual average data are published in April . Feeder Pigs: Prices Paid, 16-Major States, May 1995 1/ ------------------------------------------------------------------------------- State : Dollars Per Cwt : : State : Dollars Per Cwt ------------------------------------------------------------------------------- : : : : GA : 59.50 : : MO : 59.00 IL : 72.00 : : NE : 75.00 IN : 71.00 : : NC : 69.50 IA : 77.00 : : OH : 61.00 KS : 66.00 : : PA : 70.00 KY : 64.00 : : SD : 69.50 MI : 81.50 : : TN : 68.00 MN : 76.00 : : WI : 72.00 ------------------------------------------------------------------------------- 1/ Based on survey data reported by producers for entire month, except Kentucky where administrative data are used. HDR2012000120010731951500Grazing Fee Rates for Cattle Grazing Fee Rates for Cattle by Selected States and Regions ------------------------------------------------------------------------------ : Average Rates by Payment Method 1/ :--------------------------------------------------------------- State : Animal Unit 2/ : Cow-Calf : Per Head :--------------------------------------------------------------- : 1994 : 1995 : 1994 : 1995 : 1994 : 1995 ------------------------------------------------------------------------------ : Dollars Per Month : AZ : 5.72 5.75 7.25 7.50 6.35 7.50 CA : 11.00 10.50 13.10 12.80 11.80 11.10 CO : 10.20 10.30 12.10 12.00 10.20 10.50 : ID : 9.70 10.10 11.60 12.20 10.30 10.40 KS : 11.00 10.50 12.50 12.00 10.00 10.50 MT : 11.80 11.90 13.50 13.70 12.90 12.80 : NE : 17.50 17.60 20.90 21.00 17.50 16.80 NV : 8.80 8.80 11.50 12.00 9.50 8.80 NM : 8.08 8.74 10.40 10.35 8.50 9.94 : ND : 9.75 10.30 11.30 11.50 11.40 10.20 OK : 6.20 7.00 7.80 8.05 7.15 8.00 OR : 9.00 10.20 11.00 11.50 10.00 10.10 : SD : 13.20 13.90 15.80 16.30 14.00 14.00 TX : 8.75 9.10 10.40 10.75 8.10 8.00 UT : 9.00 9.50 11.50 10.00 10.10 11.75 : WA : 8.30 8.50 10.00 9.70 10.40 9.90 WY : 10.50 11.30 12.40 13.00 11.00 11.50 : 17-State 3/ : 11.00 10.60 13.10 12.40 9.70 10.50 : 16-State 4/ : 11.30 11.20 13.50 13.10 10.80 11.50 : 11-State 5/ : 10.00 10.30 12.00 12.10 10.30 11.00 : 9-State 6/ : 11.50 10.60 13.60 12.50 9.40 10.30 ------------------------------------------------------------------------------- 1/ The average rates are estimates (rates over $10.00 are rounded to the nearest dime) based on survey indications of monthly lease rates for private, non-irrigated grazing land from the June Agricultural Survey. 2/ Includes animal unit plus cow-calf rates. Cow-calf rate converted to animal unit (aum) using (1 aum=cow-calf * 0.833). 3/ Seventeen State: All States. 4/ Sixteen State: All States except Texas. 5/ Eleven State: AZ, CA, CO, ID, MT, NV, NM, OR, UT, WA, WY. 6/ Nine State: CO, KS, NE, NM, ND, OK, SD, TX, WY. HDR2012000120010731951500Summary of Prices Paid Summary of Prices Paid Agricultural Inputs: The Index of Prices Paid by Farmers measures changes in the prices paid for goods and services used in crop and livestock production and family living. The index is made up of 5 major components. In terms of total farm expenditures, the production component accounts for over 65 percent of the total and the family living component represented by the Bureau of Labor Statistics' Consumer Price Index (CPI-U) accounts for less than 20 percent of the index. The remaining three components are: (1) interest charges per acre on farm real estate debt and interest on farm non-real estate debt; (2) taxes payable per acre on farm real estate; and (3) wage rates paid to hired farm labor. Prices Paid Indexes are not seasonally adjusted and there are no adjustments for quality changes. The 1910-14=100 base is required under the Agricultural Adjustment Act of 1938, as amended. The Index of Prices Paid by Farmers for Commodities and Services, Interest, Taxes, and Farm Wage Rates on the 1910-14=100 base is called the Parity Index. The Parity Index reflects relative price change but does not take into account the technological advancements and increased productivity of American agriculture. Federal regulations require that the National Agricultural Statistics Service publish parity prices, the indexes, and relevant price data monthly in ~Agricultural Prices. In 1995, the National Agricultural Statistics Service reweighted and reconstructed the prices paid and received by farmers indexes. The indexes are now based on 5-year moving average weights compared with fixed weights previously. The changes in the construction of the indexes simplified updating component items and reference periods while maintaining appropriate weights. The overall changes to the weighting and construction of the indexes did not have a significant effect on the index levels, and therefore, had little effect on the level of parity prices. Indexes are newly published on a 1990-92=100 base using a 1990-92 reference period. As mentioned above, the 1910-14=100 base is continued for the parity index. Beginning 1995, the Prices Paid Survey of items purchased by farm establishments is conducted annually in April. Surveys are conducted for feed, livestock purchases, seed, fertilizer, ag chemicals, fuel, and farm machinery. The Bureau of Labor Statistics, (BLS) indexes measure price changes and replace survey activity for farm supplies and repairs, autos and trucks, building materials, and marketing containers. The BLS indexes are used in January, July, and October to measure price change for the three quarters when no survey data are collected. Before 1995, quarterly prices paid surveys were conducted by NASS. About 135 selected items are priced to represent groups of similar items purchased which make up the major production expenditures categories. The number of input items consumed on farms is so extensive that it is not feasible to collect price data for all of the inputs. Items on the questionnaire are described in the simplest way consistent with definite identification. Firms are requested to report the prices for the item most commonly sold which meets the general specification on the questionnaire. Reported data are summarized to regional estimates and then weighted to U.S. prices. Weights are based on available consumption or expenditure information. Average prices including state and local taxes are used in computing the indexes and are published in Agricultural Prices in the same month as the survey. Regional prices are published for feed, fuel, and fertilizer. U.S. prices are published for the remaining items surveyed. Revisions: Indexes are recomputed quarterly to reflect the most recent price changes and include any updated prices or indexes. Prices Paid Indexes including all components and subcomponents are subject to annual revisions as additional data become available. Annual revisions generally are made in the taxes, interest, and rent, and farm services components of the index. Parity Ratio: The Parity Ratio is the ratio of the Prices Received Index, 1910-14=100, to the Index of Prices Paid by Farmers for Commodities and Services, Interest, Taxes, and Wage Rates on a 1910-14=100 base. The Parity Ratio is a measure of price relationships; not a measure of farm income, of farmer's total purchasing power, or of farmer's welfare. The well-being of the farm community depends upon a number of factors other than price relationships such as changes in production efficiency and technology, quantities of farm products sold, and supplementary income, including income from off-farm jobs, and federal farm programs. Ratio: The ratio of the Prices Received Index to the Prices Paid Index on the 1990-92 base provides an indication of the change that has occurred in the prices farmers receive for their commodities relative to the change in the cost of inputs using the average of 1990-92 as the reference year. When this ratio is greater than 100 percent, it implies that farm commodity prices have increased at a faster rate than farm input prices. When the ratio is less than 100 percent, farm input prices are increasing at a more rapid pace than farm commodity prices. HDR2012000120010731951500Relative Importance Narrative Relative Importance The relative importance of the component indexes that make up the Index of Prices Paid by Farmers, including Interest, Taxes, and Farm Wage Rates were annually calculated in June prior to 1986. The prices paid program changed to a quarterly basis, effective March 1986, with the relative importance of component indexes now calculated annually in April. Relative importance is the percent of total contribution that a component makes to the overall Prices Paid Index at a given point in time. The change in relative importance from year- to-year is determined by the rates of price change for various items in relation to each other. It reflects the impact of the index items at current price levels on the overall index. This may be more or less than the previous year or base weight period as a result of larger or smaller price changes for an item or index compared with other items or indexes. Quantity weights used for index computation are based on a 5-year moving average based on annual expenditures data from the Farm Cost and Return Survey. Relative importance in the 1990-92 base period for individual commodities was published in "Revised Prices Received and Paid Indexes, United States, 1975-93; for Base Periods 1910-14=100 and 1990-92=100". Statistical Bulletin number 917, February 1995, pages 49-50. Parity Indexes: Relative Importance of Component Indexes, 1990-92 and April 1995 1/ ------------------------------------------------------------------------------ Commodity Group : Relative Importance ------------------------------------------------------------------------------ : 1990-92 : April 1995 2/ :----------------------------------------------- : Percent : Total Production : 100.0 100.0 : Production : 65.6 66.3 Feed : 11.1 11.5 Livestock & Poultry : 8.2 8.4 Seed : 2.7 2.7 Fertilizer : 4.7 4.7 Agricultural Chemicals : 3.4 3.4 Fuels : 3.0 2.9 Farm Supplies & Repairs : 5.4 5.4 Autos & Trucks : 1.3 1.4 Farm Machinery : 4.6 4.5 Building Materials : 2.4 2.4 Farm Services : 10.9 11.1 Rent : 8.0 7.8 : Interest : 5.7 5.5 Taxes : 3.0 3.0 Wage Rates : 6.7 6.8 Family Living : 19.0 18.4 ------------------------------------------------------------------------------ 1/ Data shown indicate the contribution of each component to the Prices Paid Index. The relative importance is obtained by multiplying each components item weights for April 1995 times the components 5-year moving weight and adjusting to equal 100 percent. 2/ Same as index weights. HDR2012000120010731951500Prices Paid by Farmers Narrative Prices Paid by Farmers Definition: Prices paid by farmers represent the average costs of inputs purchased by farmers and ranchers to produce agricultural commodities. Conceptually, the average price when multiplied by quantity purchased should equal total producer expenditures for the item. Survey Procedures: The prices paid data are obtained from establishments that sell goods and services to farmers and ranchers. Annually, about 38,500 firms are randomly selected from lists by type of item sold with an average response rate of around 75 percent. Firms are asked to report the price for the specified item "most commonly bought by farmers" or that was the "volume seller". Approximately 180 items are surveyed with varying frequency during the year to represent all production input items purchased. The survey reference period for most items is the 5 business days centered around the 15th of the month. Separate prices paid surveys are conducted for autos & trucks, building materials, equipment and supplies, feed, fertilizer, machinery, market containers, motor supplies, and seed. Several changes were made in the items surveyed and unit of reporting during the past year. The April 1994 publication reflects these changes. There is a large increase in chemical products surveyed as price data were dropped from the Chemical Use Survey. Plans are to publish these surveyed items after two data collection periods. Summary and Estimation Procedures: The Prices Paid Survey is summarized as a nonprobability survey. Average prices reported are aggregated to the region and U.S. level using weights available from expenditure data and other administrative sources. Price recommendations are prepared by the State Statistical Offices and Headquarters for review by the Agricultural Statistics Board in Washington, D.C. Also, the change in price level for individual items surveyed are combined to the regional and U.S. levels, and are published as prices paid indexes referenced to a specific base period. Revisions: Any revisions are published in the quarterly (January, April, July, and October) and annual issues of "Agricultural Prices". The basis for revision must be supported by additional data that directly affect the level of the estimate. Reliability: Current methods of summarization are not designed directly to calculate sampling errors. However, analytical measures approximate the U.S. relative sampling errors for major items around 10 percent. Any nonsampling errors are attributed to such things as the inability to obtain correct information, differences in interpreting questions or definitions, mistakes in coding or processing the data, etc. Efforts are made at each step in the survey process to minimize these nonsampling errors. Program Change: Effective January 1, 1995, the National Agricultural Statistics Service updated the weights and changed the construction of its prices paid and received by farmers indexes. A Federal Register Notice dated October 28, 1994 discussed these program modifications. A 1990-92 reference and base period replaced the 1977 reference and 1971-73 base weight period. Five-year moving average weights replaced the current fixed 1971-73 base period weights. The 1910-14=100 price indexes, required by statute for computing parity prices, were linked forward based on the changes in the new 1990-92=100 indexes. The new indexes were constructed by multiplying the ratios of the current prices to the base period prices by the moving average weights (adjusted for seasonal marketing patterns for the prices received indexes). HDR2012000120010731951500Index Index Prices Received U.S. Prices and Indexes Page Page Narrative............... A-2 Cows, Beef............. A-18 Price Indexes........... A-3 Cows, Milk............. A-21 Prices Received Eggs................... A-20 U.S. Summary.......... A-6-7 Flaxseed............... A-14 Selected Commodities.. A-12 Fruit, Citrus.......... A-16 Upland Cotton and Rice Hay.................... A-15 Prices and Marketings. A-15 All Hogs............... A-19 Parity Prices........... A-22-23 Lambs.................. A-20 Reliability Statement... A-32-33 Milk................... A-21 Oats................... A-13 Peanuts................ A-14 Monthly State Prices Potatoes............... A-17 Sheep.................. A-20 Apples.................. A-15 Sorghum, Grain......... A-13 Barley.................. A-13 Soybeans............... A-13 Barrows and Gilts....... A-19 Sows................... A-19 Beans, Dry Edible....... A-14 Steers and Heifers..... A-18 Beef Cattle............. A-18 Sunflower.............. A-14 Broilers................ A-20 Tobacco................ A-14 Calves.................. A-18 Turkeys................ A-20 Corn.................... A-13 Wheat.................. A-12 Cotton.................. A-15 Cottonseed.............. A-15 Special Features Sugarbeets and Sugarcane: Preliminary Marketing Year Average Price and Value of Production, U.S., 1994 ............................. A-24 Seasonal Adjustment Factors for Eggs and Milk ..................... A-24 Apples, For Fresh Use: Prices Received July 1994 - June 1995, by State and U.S. ............................................... A-25 Pears, For Fresh Use: Prices Received January 1993 - June 1995, by U.S. ......................................................... A-25 Parity Prices and Methods of Computing with Marketing Year Average Prices for 1993, 1994, and 1984-93 Averages ..................... A-26-31 HDR2012000120010731951500Prices Paid Prices Paid Page Narrative ...................................................... B-1 Indexes and Parity Ratios ...................................... B-2-3 Charts ......................................................... B-4-6 Feed Ratios .................................................... B-7 Reliability Statement .......................................... B-14-15 U.S. Average Prices: Feeder Livestock and Poultry ................................ B-7 State Average Prices: Feeder Pigs ................................................ B-7 Special Features: Relative weights of Prices Paid, by Farmers Including Interest, Taxes, and Farm Wage Rates: Base Price Period 1990-92 ...... B-9-13 Grazing Fee Rates for Cattle by Selected States and Regions.. B-8 HDR2012000120010731951500Report Features Report Features The next "Agricultural Prices" report will be released at 3 p.m. ET on August 31, 1995. Listed below are the commodity specialists in the Economic Statistics Branch of the National Agricultural Statistics Service to contact for additional information. Economic Statistics Branch Robert W. Milton, Chief (202) 720-3570 Commodity Prices Section (Prices Received) Herb Vanderberry, Head - Prices Received Indexes (202) 720-5446 James Hand - Potatoes, Hogs, Sheep & Lambs, Milk, Wool (202) 690-3236 Gail Hanneman - Grains, Oilseeds, Hay (202) 690-0270 Debra Kenerson - Cattle, Cotton, Poultry (202) 690-3234 Howard Hill - Fruits, Peanuts, Tobacco, Sugar Crops (202) 720-7235 Kirby Cavett - Vegetables (202) 690-3237 Farm Inputs Section (Prices Paid) Douglas Kleweno, Head (202) 720-4214 Daryl Brinkman - Prices Paid Indexes, Feed, Fertilizer, Pesticides, Seeds (202) 690-3226 Jim Williams - Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios (202) 690-3225 Grazing Fees, Autos & Trucks The United States Department of Agriculture (USDA) prohibits discrimination in its programs on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, and marital or familial status. Persons with disabilities who require alternative means for communication of program information (braille, large print, audiotape, etc.) should contact the USDA Office of Communications at (202) 720-5881 (voice) or (202) 720-7808 (TDD). To file a complaint, write the Secretary of Agriculture, USDA, Washington, D.C., 20250, or call (202) 720-7327 (voice) or (202) 720-1127 (TDD). USDA is an equal employment opportunity employer.