HDR1012000120010830961500 Agricultural Prices Released August 30, 1996, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" call (202) 720-2127, 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@NASS.USDA.GOV. The "Agricultural Prices" U.S. Summary is available on AutoFax, (202) 720-2000, report 6050. See back page. Prices Received Index Drops 2 Points The All Farm Products Index of Prices Received in August was 116 based on 1990-92=100, down 2 points (1.7 percent) from July even though price gains from July for cattle, milk, corn, and hay slightly more than offset price declines for wheat, peaches, tomatoes, and grapes. The seasonal changes in the mix of commodities farmers sell also affect the overall index level. In August, lower seasonal marketings of wheat, hay, corn, and hogs compared with other commodities resulted in this decline in the All Farm Products Index. Compared with August 1995, the All Farm Products Index was 14 points (14 percent) higher. Price increases from August 1995 for corn, milk, hogs, and soybeans more than offset price decreases for calves, tobacco, lettuce, and potatoes. Prices Paid Index Unchanged The August Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 115 percent of the 1990-92 average. The index was unchanged from July but up 5 points (4.5 percent) from August 1995. Since July 1996, prices were higher for feeder pigs purchased, complete feeds, feeder cattle, and electricity. Prices were fractionally lower for feed supplements, trucks, nitrogen and phosphate fertilizer materials, and agricultural chemicals. Index Summary Table ----------------------------------------------------------------------------- : 1995 : 1996 Index :----------------------------------------------------- 1990-92=100 : Jul : Aug : Jul : Aug ----------------------------------------------------------------------------- : : : : Prices Received : 101 : 102 : 118 : 116 : : : : Prices Paid 1/ : 110 : 110 : 115 : 115 : : : : Ratio 2/ : 92 : 93 : 103 : 101 ----------------------------------------------------------------------------- 1/ Prices paid indexes (1990-92=100) published monthly beginning January 1996. Indexes for 1995 were constructed for historical comparison. 2/ Ratio of index of prices received by farmers to index of prices paid. Pr 1 (8-96) Prices Received by Farmers The August All Farm Products Index was 116 percent of its 1990-92 base, down 1.7 percent from July but up 14 percent from August 1995. All Crops: The August index was 131, down 3.7 percent from July, but 15 percent above August 1995. From July, price gains for feed grains and hay, oilseeds, and tobacco were more than offset by price declines for food grains, potatoes, and fruits. Food Grains: The August index, at 151, was down 5.0 percent from the previous month, but 7.1 percent above August 1995. The August wheat price was down 22 cents from the July price of $4.73 per bushel, but still 25 cents above a year earlier. Rice prices, while unchanged from last month, are up $2.04 per cwt from August 1995. Tobacco: The August index, at 96, was 4.3 percent above July but 5.0 percent below August 1995. Flue-cured tobacco prices at $1.675 per pound were down 9.0 cents from August 1995. Fruits and Nuts: The August all fruit and nuts index, at 126, decreased 1.6 percent from the previous month, but increased 3.3 percent from August 1995. Higher prices from July for oranges, strawberries, and lemons were more than offset by lower prices for peaches, grapes, and pears. Feed Grains & Hay: The August index was a record 172, up 1.8 percent from last month and 50 percent above August 1995. Higher August prices for corn and hay more than offset lower prices for barley, oats, and sorghum. Corn prices, at $4.50 per bushel, reached a new record high and were 71 percent above August 1995. Low carry-in stocks and the current production forecasts for the 1996 crop have kept feed grain prices high. Cotton: The August index was 123, down 2.4 percent from July, but 2.5 percent above August 1995. Lower mill use and a decrease in exports have put a downward pressure on cotton prices. Livestock & Products: The August index, at 103, was unchanged from July but 12 percent above a year earlier. Cattle, hog, milk, broiler, and egg prices were up from July while turkey prices were down. Meat Animals: The August index, at 90, was 1.1 percent above July and 5.9 percent above a year ago. The August hog price, at $59.80 per cwt, was up $1.10 from July, and $11.20 above last year. A strong bacon demand from fast food franchises is largely responsible for an increase in the price of pork bellies. The August beef cattle price, at $60.80 per cwt, was $1.90 above July and $1.40 above a year ago. Tighter fed beef supplies and purchases for Labor Day specials have pushed prices to yearly highs. Dairy Products: The August index, at 120, was 2.6 percent above July and 26 percent above last year. The August milk price increased to $15.70 per cwt, 40 cents above July and $3.30 above last year. Tight supplies and continued good demand for manufactured dairy products have led to sharp increases in prices. Index Numbers of Prices Received by Farmers, United States, August 1996, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 1/ :------------------------------------------------------ Index : : 1995 : 1996 : 1995 : 1996 :Average:---------------------------------------------- :1990-92: Aug : Jul : Aug : Aug : Jul : Aug ------------------------------------------------------------------------------- : All Farm Products : 639 650 *751 739 102 *118 116 : All Crops : 500 562 *669 646 114 *136 131 Food Grains : 325 448 *504 479 141 *159 151 Feed Grains & Hay : 363 411 *604 614 115 *169 172 Cotton : 517 614 *644 628 120 *126 123 Tobacco : 1263 1535 *1391 1457 101 *92 96 Oil-Bearing Crops : 554 570 *743 745 104 *136 136 Fruit & Nuts : 716 854 *896 877 122 *128 126 Commercial Vegetables : 698 653 *622 652 98 *93 98 Potatoes & Dry Beans : 540 595 *681 566 118 *134 112 Other Crops : 493 525 532 532 106 108 108 : Livestock & Products : 768 708 *786 793 92 103 103 Meat Animals : 1021 865 *906 918 85 *89 90 Dairy Products : 799 762 *940 965 95 *117 120 Poultry & Eggs : 282 317 347 352 113 123 125 : Food Commodities : 100 *113 111 ------------------------------------------------------------------------------- * Revised. 1/ 1990-92=100 reference replaced 1977=100 in January 1995. Selected Index Numbers for Prices Received and Paid by Farmers, 1990-92=100, by Months, United States, 1995 and 1996 ------------------------------------------------------------------------------ : Index of Prices Received : Index of Prices Paid :-------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :-------------------------------------------------------------------- : 1995 : 1996 : 1995 : 1996 : 1995 : 1996 : 1995 : 1996 : 1995 : 1996 ------------------------------------------------------------------------------ Jan : 98 108 103 122 93 94 109 113 108 113 Feb : 97 106 101 122 94 93 109 113 108 113 Mar : 99 109 107 128 93 93 109 114 108 114 Apr : 99 108 112 128 90 93 109 114 108 114 May : 100 111 117 131 88 96 109 115 107 115 Jun : 100 118 113 141 90 99 110 115 109 115 Jul : 101 118 114 136 91 103 110 115 109 116 Aug : 102 116 114 131 92 103 110 115 109 116 Sep : 105 115 94 110 109 Oct : 104 114 92 111 110 Nov : 106 117 94 111 111 Dec : 108 118 96 112 112 ------------------------------------------------------------------------------ Prices Received by Farmers, United States, August 1996, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Aug : Jul : Aug : : : 1995 : 1996 : 1996 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 2.62 3.18 2.93 Feed : Bu : 1.90 2.29 3.14 2.69 Malting : Bu : 2.43 2.79 3.23 3.13 Beans, Dry Edible : Cwt : 19.10 23.00 27.50 27.10 Corn : Bu : 2.30 2.63 4.43 4.50 Cotton, Upland : Lb : .606 .726 .762 .743 Cottonseed : Ton : 96.00 100.00 118.00 : : Flaxseed : Bu : 4.27 5.21 6.19 5.91 Hay, All, Baled 1/ : Ton : 76.30 83.20 89.60 92.90 Alfalfa 1/ : Ton : 77.20 87.00 92.90 96.00 Other 1/ : Ton : 60.00 67.60 76.00 78.60 Oats : Bu : 1.22 1.48 2.12 2.05 Peanuts, In-Shell : Lb : .304 .306 Potatoes : Cwt : 5.82 6.81 7.69 6.20 : : Rice, Rough : Cwt : 7.07 7.64 9.68 9.68 Sorghum Grain : Cwt : 3.75 4.65 6.61 6.56 Soybeans : Bu : 5.61 5.83 7.62 7.71 Sunflower 2/ : Cwt : 9.50 11.40 13.60 12.70 Tobacco : Lb : 1.740 1.765 1.600 1.675 : : Wheat, All : Bu : 2.96 4.26 4.73 4.51 Winter : Bu : 2.93 4.22 4.67 4.44 Durum : Bu : 2.86 5.33 5.13 4.82 Other Spring : Bu : 3.11 4.19 5.30 4.70 Hard Red : Bu : 2.95 4.28 4.99 Soft Red : Bu : 2.87 3.98 4.17 White : Bu : 3.24 4.09 4.85 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 4.97 3.93 4.96 Lemons : Box : 10.10 10.88 14.03 Limes : Box : 10.15 10.54 -2.95 2.57 Oranges : Box : 5.79 4.25 5.74 8.15 Tangelos : Box : 5.82 Tangerines : Box : 15.11 Temples : Box : 6.23 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .245 .225 .246 Grapes, Fresh 3/ : Ton : 506.00 650.00 670.00 620.00 Peaches, Fresh 3/ : Lb : .216 .270 .431 .319 Pears, Fresh 3/ : Ton : 370.00 332.00 454.00 401.00 Strawberries, Fresh: Lb : .560 .649 .408 .496 ----------------------------------------------------------------------------- 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, August 1996, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Aug : Jul : Aug : : : 1995 : 1996 : 1996 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 87.00 Broccoli : Cwt : 22.50 34.10 21.80 19.00 Cantaloupes : Cwt : 12.50 12.40 11.30 Carrots : Cwt : 13.20 15.50 10.70 15.70 Cauliflower : Cwt : 26.80 29.30 22.50 22.60 Celery : Cwt : 11.60 11.10 10.80 9.58 Corn, Sweet : Cwt : 15.70 15.50 18.80 18.10 Cucumbers 2/ : Cwt : 16.80 16.10 15.30 Lettuce : Cwt : 11.90 15.20 12.00 13.00 Onions : Cwt : 12.80 10.80 11.40 12.30 Snap Beans 2/ : Cwt : 41.30 39.00 35.60 Tomatoes : Cwt : 32.30 15.80 25.00 22.10 : : Livestock : : : : Calves : Cwt : 94.30 70.90 56.80 58.80 Cattle, All Beef : Cwt : 72.90 59.40 58.90 60.80 Cows : Cwt : 49.60 35.80 31.00 32.70 Steers & Heifers : Cwt : 77.10 61.70 62.10 63.90 Milk Cows 3/ : Head : 1130.00 1090.00 : : Hogs, All : Cwt : 47.70 48.60 58.70 59.80 Barrows & Gilts : Cwt : 48.40 49.60 59.50 60.50 Sows : Cwt : 39.50 34.00 47.10 50.00 : : Lambs : Cwt : 56.20 85.60 98.30 Sheep : Cwt : 23.40 27.00 30.30 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 12.40 15.30 5/15.70 Fluid Grade : Cwt : 13.10 12.50 15.40 5/15.70 Mfg Grade : Cwt : 11.80 11.30 13.90 5/14.30 : : Broilers, Live 6/ : Lb : .317 .374 .410 .415 Eggs, All 7/ : Doz : .643 .642 .709 .744 Market 7/8/ : Doz : .546 .522 .594 .640 Turkeys, Live 6/7/ : Lb : .380 .419 .450 .444 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .690 .746 .791 Milk, All 4/ : Cwt : 9.71 12.28 15.61 15.86 ----------------------------------------------------------------------------- 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 3.55, fluid milk 3.55, mfg grade 3.58. 6/ Equivalent liveweight returns to producers for most States. 7/ Mid-month price. 8/ Includes eggs sold retail by the producer. Wheat: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat : Oth Spring Wheat State :------------------------------------------------------------------------ : Jul 1/ : Aug 2/ : Jul 1/ : Aug 2/ : Jul 1/ : Aug 2/ : Jul 1/ : Aug 2/ ------------------------------------------------------------------------------- : Dollars per Bushel : AZ : AR : 4.55 4.38 4.55 4.38 CA : 4.79 4.68 3/ 3/ 3/ 3/ CO : 4.78 4.48 4.78 4.48 4/ GA : ID : 5.09 4.68 4.82 4.60 5.32 4.80 IL : 4.20 4.10 4.20 4.10 IN : 4.09 4.00 4.09 4.00 KS : 5.03 4.60 5.03 4.60 MI : 4.07 4.05 4.07 4.05 MN : 5.17 4.50 4/ 4.71 4.70 5.18 4.50 MO : 4.23 4.10 4.23 4.10 MT : 5.32 4.99 5.25 5.00 5.33 4.80 5.34 5.00 NE : 4.77 4.40 4.77 4.40 ND : 5.24 4.66 5.41 4.00 5.13 4.80 5.32 4.60 OH : 4.05 4.00 4.05 4.00 OK : 4.87 4.55 4.87 4.55 OR : 4.71 4.65 4.71 4.65 SD : 4.84 4.38 4.67 4.31 4.75 4.77 5.40 4.60 TX : 4.96 4.61 4.96 4.61 WA : 5.21 4.67 5.21 4.64 5.19 4.83 : US : 4.73 4.51 4.67 4.44 5.13 4.82 5.30 4.70 ------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual buyers. 4/ Insufficient sales volume to establish a price. Prices Received for Selected Agricultural Commodities, by Months, United States, 1995 and 1996 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 1995 :1996 2/:1995 :1996 2/: 1995 :1996 2/: 1995 :1996 2/: 1995 :1996 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 3.69 4.83 2.19 3.09 5.47 6.77 67.60 59.10 36.80 42.30 Feb : 3.61 4.98 2.23 3.37 5.40 7.01 68.80 57.90 39.10 46.40 Mar : 3.52 5.07 2.30 3.51 5.51 7.00 66.90 56.70 37.80 48.60 Apr : 3.48 5.32 2.36 3.85 5.55 7.43 63.30 54.80 35.60 49.70 May : 3.67 5.73 2.42 4.14 5.56 7.69 60.80 54.60 37.10 56.70 Jun : 3.84 5.26 2.51 4.22 5.68 7.41 60.90 56.10 42.20 56.20 Jul : 4.10 4.73 2.63 4.43 5.90 7.62 59.50 58.90 46.30 58.70 Aug : 4.26 4.51 2.63 4.50 5.83 7.71 59.40 60.80 48.60 59.80 Sep : 4.53 2.69 5.98 59.10 48.40 Oct : 4.72 2.79 6.15 58.80 45.70 Nov : 4.81 2.87 6.40 60.70 39.90 Dec : 4.88 3.07 6.76 60.60 43.50 ------------------------------------------------------------------------------- 1/ Cows, steers and heifers. 2/ Current month prices are mid-month; prices for previous months are for the entire month. Grains: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :Jul 2/:Aug 3/:Jul 2/:Aug 3/:Jul 2/:Aug 3/:Jul 2/:Aug 3/: Jul 2/: Aug 3/ ------------------------------------------------------------------------------ : ----------------- Dollars per Bushel ---------------- Dollars per Cwt : AL : AR : 7.80 8.05 CA : 3.85 4/ CO : 3.18 3.16 4.76 4.77 4/ 4/ GA : 4.38 4.11 8.05 7.70 ID : 3.31 3.16 IL : 4.70 4.65 2.40 2.35 7.84 7.80 IN : 4.70 4.75 7.82 7.94 IA : 4.38 4.55 2.26 2.20 7.57 7.80 KS : 4.84 4.67 7.61 7.76 7.29 6.60 KY : 5.12 4.70 8.02 8.00 LA : 4/ MI : 4.83 4.70 2.59 2.30 7.74 7.80 MN : 2.97 2.50 3.96 4.10 2.04 1.90 7.39 7.45 MS : 6.98 7.70 MO : 4.90 4.50 7.76 7.75 7.46 6.60 MT : 3.27 3.08 2.02 1.90 NE : 4.65 4.60 2.13 2.15 7.57 7.50 7.49 6.90 NM : 4/ 4/ NY : NC : 5.13 4.49 7.77 7.65 ND : 3.12 2.80 1.94 1.75 OH : 4.90 4.90 2.52 2.40 7.90 7.80 OK : 7.20 6.92 OR : 3.13 3.05 5/ 2.10 PA : 5.42 5.35 2.18 2.24 SC : 7.68 7.73 SD : 2.91 2.61 4.55 4.45 2.05 2.00 7.37 7.48 TN : 7.99 7.95 TX : 4.11 4.33 4/ 4/ 6.55 6.53 UT : 3.25 3.05 WA : 3.02 2.88 WI : 4.42 4.10 2.03 1.75 WY : 3.12 3.20 : US : 3.18 2.93 4.43 4.50 2.12 2.05 7.62 7.71 6.61 6.56 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for August 1996 is $2.46. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual buyers. 5/ Sales volume insufficient to establish a price. Malting and Feed Barley: Prices Received Selected States, July and August 1996 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Jul : Aug : Jul : Aug ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 3.20 3.19 3.66 3.04 MN : 2.78 2.95 3.01 2.40 MT : 3.27 3.25 3.27 2.75 ND : 3.35 3.05 2.83 2.50 SD : 1/ 1/ 2.82 2.49 ------------------------------------------------------------------------------ 1/ Price not published to avoid disclosure of individual buyers. Field Crops: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :----------------------------------------------------------------------- :Jul 1/:Aug 2/:Jul 1/:Aug 2/:Jul 1/:Aug 2/:Jul 1/:Aug 3/: Jul 1/: Aug 3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : CA : 36.30 36.90 CO : 26.10 25.10 FL : 1.585 1.650 GA : 1.595 1.665 ID : 26.00 24.70 IN : KS : 5/ 5/ KY : MD : MI : 24.40 24.50 MN : 28.30 24.90 13.20 12.70 MO : NE : 25.00 24.30 NC : 1.605 1.675 ND : 24.20 24.60 14.10 13.00 6.19 6.05 OH : OK : SC : 1.600 1.665 SD : 12.50 10.70 6.17 4.94 TN : TX : VA : 1.690 WA : 26.40 26.40 WV : : US : 27.50 27.10 13.60 12.70 6.19 5.91 1.600 1.675 ------------------------------------------------------------------------------ 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. Tobacco: Prices Received, by Area and Type, August 1996, with Comparisons ------------------------------------------------------------------------------ : : Aug : Jul : Aug Class by Type : Type : 1995 : 1996 : 1996 ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured : : Old and Middle Belts: 11 : 1.770 1.685 Eastern N C Belt : 12 : 1.765 1.610 1.680 NC Border & SC Belt : 13 : 1.750 1.595 1.665 GA-FL Belt : 14 : 1.765 1.595 1.665 : : Total Flue-cured : 11-14: 1.765 1.600 1.675 : : US : 11-37: 1.765 1.600 1.675 ------------------------------------------------------------------------------ Field Crops and Apples: Prices Received, by States, July and August 1996 ---------------------------------------------------------------------------- : : August : Cotton, Upland :------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :----------------------------: Fresh : Jul 1/ : Aug 2/ : : All : Alfalfa : Other : Use 1/4/ ---------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton ------- Dol/Lb : AL : 5/ 5/ AZ : .774 5/ 86.00 85.00 98.00 AR : .752 .750 CA : .830 5/ 103.00 106.00 76.00 .309 CO : 93.00 94.00 81.00 GA : 5/ 5/ ID : 90.00 93.00 66.00 IL : 95.00 100.00 73.00 IN : IA : 90.00 95.00 66.00 KS : 76.00 78.00 57.00 KY : 93.00 118.00 80.00 LA : .737 .739 MI : 78.00 80.00 65.00 .160 MN : 77.00 83.00 51.00 MS : .750 .750 MO : 66.00 98.00 60.00 MT : 68.00 68.00 58.00 NE : 66.00 68.00 49.00 NV : 97.00 97.00 92.00 NM : 127.00 130.00 102.00 NY : 80.00 96.00 69.00 ND : 45.00 49.00 36.00 OH : 108.00 135.00 80.00 .309 OK : 94.00 111.00 68.00 OR : 102.00 105.00 74.00 PA : 106.00 117.00 95.00 .230 SD : 70.00 71.00 52.00 TN : .737 .750 TX : .748 .732 118.00 104.00 139.00 91.00 UT : 74.00 74.00 45.00 VA : WA : 116.00 112.00 135.00 .235 WI : 73.00 75.00 66.00 WY : 71.00 72.00 64.00 : US : .762 .743 118.00 92.90 96.00 78.60 .246 ---------------------------------------------------------------------------- 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/ Price not published to avoid disclosure of individual buyers. Upland Cotton and Rice: Prices Received and Marketings, United States, August 1996, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Jun 1996 1/ : Jul 1996 1/ : Aug 1996 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .786 .762 .743 Marketings 3/ : 1,000 Bales : 303 332 NA : : Rice : : Average Price : Dollars/Cwt : 9.74 9.68 9.68 Marketings 4/ : 1,000 Cwt : 9500 10142 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. Citrus Fruit: Prices and Equivalent Returns, by Utilization, by State and United States , August 1996 ------------------------------------------------------------------------------ : : 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 2/ : CA : 16.40 6.90 10.96 -0.23 4.96 9.02 -2.17 : US : 16.40 6.90 10.96 -0.23 4.96 9.02 -2.17 : Lemons : CA : 39.90 17.67 31.46 1.08 14.03 27.82 -2.56 : US : 39.90 17.67 31.46 1.08 14.03 27.82 -2.56 : Limes : FL : 23.00 8.21 11.80 1.75 2.57 5.80 -3.25 : Oranges : CA : Valencia : 19.70 10.23 13.80 -0.48 8.15 11.72 -2.56 : US : 19.70 10.23 13.80 -0.48 8.15 11.72 -2.56 : ------------------------------------------------------------------------------ 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. 2/ Desert Valley no longer reported separately. Potatoes: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : : :: : : State : Jul : Aug :: State : Jul : Aug : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : 12.30 10.30 :: NC : 6.80 7.80 AZ : :: ND - All 1/ : CA - All : 11.80 11.20 :: - Fresh 2/ : - Winter : :: - Processing : - Spring : 11.70 :: OH : 9.05 8.05 - Summer : 12.80 11.20 :: OR : 5.55 6.15 - Fall : :: PA : CO - All 1/ : 4.95 5.20 :: TX : 11.70 10.40 - Fresh 2/ : 5.71 NA :: VA : 13.50 FL : :: WA - All : 5.35 6.05 ID - All 1/ : 5.20 4.95 :: - Processing : 5.60 NA - Fresh 2/ : 4.90 NA :: WI - All 1/ : 6.20 - Processing : 5.70 NA :: - Fresh 2/ : NA ME : :: - Processing : NA MI : 9.50 7.75 :: : MN : :: US - All 1/ : 7.69 6.20 NY : :: - Fresh 2/ : 9.51 NA : :: - Processing : 5.58 NA ------------------------------------------------------------------------------ 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. Cattle: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : Cows 1/ : Steers & Heifers: Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Jul 2/ : Aug 3/ : Jul 2/ : Aug 3/ : Jul 2/ : Aug 3/ : Jul 2/ : Aug 3/ ------------------------------------------------------------------------------ : Dollars per Cwt : AZ : 32.00 32.50 60.00 63.00 57.80 60.60 63.00 63.50 AR : 30.60 32.10 53.90 57.40 43.00 45.50 41.90 46.50 CA : 32.00 33.00 53.00 55.00 43.60 45.10 53.00 56.00 CO : 34.00 35.00 64.30 64.80 63.10 63.60 57.10 57.10 FL : 28.20 30.10 46.30 48.40 32.70 35.40 53.80 56.50 GA : 27.90 30.40 44.40 46.50 33.20 36.00 45.00 49.00 ID : 30.10 31.60 55.70 56.40 49.80 51.90 53.20 53.50 IL : 31.90 32.50 62.30 64.70 61.70 64.10 92.00 92.00 IA : 30.70 30.70 62.60 64.60 53.00 54.40 51.90 53.90 KS : 31.60 32.80 62.50 65.00 62.20 64.70 59.00 59.00 KY : 31.00 32.00 49.00 53.00 44.70 48.00 45.00 48.00 LA : 27.30 29.00 46.20 48.00 33.70 36.00 47.70 51.00 MI : 32.80 34.00 55.00 57.00 50.60 52.40 48.00 51.20 MN : 32.20 33.00 60.80 61.70 58.60 59.40 51.00 54.00 MO : 31.00 32.80 53.70 57.00 48.70 51.70 51.70 54.90 MT : 33.30 36.90 58.90 59.50 45.60 51.60 54.90 56.80 NE : 31.90 36.20 64.70 66.80 63.90 66.20 56.30 62.50 NM : 36.00 37.10 54.20 55.20 47.50 48.30 52.50 53.00 ND : 33.80 34.00 55.70 56.20 44.70 48.40 50.00 50.00 OH : 29.80 31.00 59.30 60.00 56.40 57.10 41.20 43.00 OK : 29.40 31.40 58.90 59.60 53.50 54.50 54.50 59.70 OR : 30.50 32.00 51.50 53.00 45.20 46.70 50.00 50.00 PA : 32.40 32.30 60.70 62.30 53.30 54.50 68.00 60.00 SD : 31.00 31.40 61.60 63.00 54.00 57.90 62.70 64.00 TN : 27.90 29.40 49.30 51.50 40.70 42.70 45.40 50.50 TX : 26.60 28.00 60.00 61.20 57.70 58.90 53.10 57.20 VA : 28.10 28.20 49.90 51.10 42.30 43.10 43.30 46.20 WI : 33.40 35.10 57.10 60.20 43.40 45.60 88.80 94.50 WY : 35.70 37.50 61.00 63.10 58.70 60.50 50.40 51.50 : US : 31.00 32.70 62.10 63.90 58.90 60.80 56.80 58.80 ------------------------------------------------------------------------------ 1/ Beef cows and cull dairy cows sold for slaughter. 2/ Entire month. 3/ Mid-month. 4/ "Cows" and "steers and heifers" combined. Hogs: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Jul 1/ : Aug 2/ : Jul 1/ : Aug 2/ : Jul 1/ : Aug 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 44.00 46.90 56.40 57.30 55.20 56.30 IL : 45.80 49.00 58.80 60.10 57.80 59.20 IN : 48.20 52.50 57.70 58.90 56.80 58.30 IA : 49.30 53.20 60.70 61.30 60.50 61.10 KS : 49.00 51.40 58.20 59.30 57.10 58.40 KY : 46.00 49.00 58.00 58.00 57.50 57.60 MI : 48.60 49.60 59.50 60.50 57.00 58.00 MN : 47.10 50.00 60.70 62.60 60.10 62.10 MO : 47.20 49.50 58.10 59.80 57.10 58.90 NE : 48.60 51.60 60.60 61.70 60.30 61.50 NC : 48.40 51.00 59.60 59.70 59.40 59.50 OH : 44.60 46.00 58.80 60.00 57.60 58.90 PA : 46.10 47.50 57.50 59.50 55.80 57.70 SC : 41.10 44.50 53.70 56.10 52.90 55.40 SD : 45.70 49.20 61.00 62.50 58.70 60.60 TN : 45.70 51.00 56.40 57.30 55.30 56.70 TX : 39.30 39.80 53.70 55.40 51.80 53.40 VA : 44.40 45.90 58.70 59.50 58.40 59.20 WI : 42.40 45.10 58.00 59.30 56.00 57.50 : US : 47.10 50.00 59.50 60.50 58.70 59.80 ------------------------------------------------------------------------------ 1/ Entire month 2/ Mid-month. Sheep and Poultry: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : July : August :----------------------------------------------------------------------- State : Sheep : Lambs : Turkeys : Broilers: Eggs : 1/ : 1/ : 2/3/ : 1/4/ : 2/5/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Pound Dol/Doz : AL : .430 .570 AZ : AR : .45 .420 .690 CA : 26.50 100.00 .45 .410 .650 CO : 33.70 103.00 CT : 1.140 DE : .390 FL : .560 GA : .430 .612 ID : 26.50 93.00 IN : .44 .610 IA : 27.30 101.00 .48 .548 KS : 26.00 103.00 ME : 1.070 MD : .390 MI : .620 MN : 27.40 98.00 .47 .570 MS : .430 .725 MO : .43 .570 MT : 33.50 99.60 NE : 29.70 96.80 NM : NY : .766 NC : .42 .380 .588 OH : 27.10 93.20 .642 OR : 23.00 91.00 PA : .43 .390 .580 SC : .647 SD : 29.50 101.00 TX : 34.70 98.30 .430 .700 UT : 26.00 90.00 VA : .43 .400 WA : .710 WY : 35.10 95.10 : US : 30.30 98.30 .444 .415 .640 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ IN, IA, MN and PA are actual liveweight prices. All other State prices are equivalent liveweight returns to producers (see footnote 4 for formula). 4/ Equivalent liveweight returns to producers. Derived from ready-to-cook (RTC) prices using the following formula: (RTC price minus processing cost) * (dressing percentage) = equivalent liveweight price. 5/ Market (table) eggs. Includes eggs sold retail by the producer. Milk and Milk Cows: Prices Received, by States, July and August 1996 ------------------------------------------------------------------------------ : July : August :----------------------------------------------------------------------- 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 : 16.50 3.53 16.50 3.53 16.70 3.53 AR : 16.40 3.47 14.30 3.60 16.40 3.47 16.70 3.50 CA : 14.10 3.49 13.80 3.65 14.09 3.50 15.00 3.53 CO : 15.10 3.52 15.10 3.52 15.30 3.55 FL : 18.30 3.56 18.30 3.56 18.40 3.55 GA : 16.60 3.48 16.60 3.48 16.80 3.50 ID : 14.50 3.44 14.00 3.57 14.50 3.45 14.50 3.48 IL : 15.10 3.58 14.40 3.61 15.10 3.58 15.40 3.57 IN : 15.20 3.54 12.70 3.54 15.10 3.54 15.20 3.53 IA : 15.00 3.56 14.10 3.54 14.90 3.56 15.30 3.57 KS : 14.90 3.46 13.50 3.45 14.90 3.46 15.20 3.47 KY : 15.70 3.46 13.30 3.49 15.60 3.46 16.00 3.48 LA : 17.10 3.47 17.10 3.47 17.30 3.51 MD : 16.00 3.58 16.00 3.58 16.10 3.52 MI : 15.50 3.53 13.40 3.50 15.50 3.53 15.60 3.50 MN : 15.60 3.59 14.20 3.55 15.45 3.59 15.90 3.60 MS : 17.00 3.49 17.00 3.49 17.00 3.50 MO : 15.50 3.47 14.20 3.56 15.40 3.48 15.60 3.50 NE : 15.00 3.54 14.50 3.50 15.00 3.54 15.10 3.56 NM : 14.80 3.40 14.80 3.40 14.90 3.42 NY : 15.50 3.57 15.50 3.57 15.60 3.59 NC : 17.20 3.55 13.40 3.75 17.20 3.55 17.40 3.53 ND : 14.60 3.48 13.40 3.50 14.10 3.49 14.20 3.51 OH : 15.40 3.56 12.60 3.59 15.10 3.56 15.30 3.58 OK : 15.90 3.40 15.90 3.40 16.10 3.39 OR : 15.60 3.52 13.00 3.70 15.60 3.52 15.80 3.53 PA : 16.00 3.57 14.30 3.68 16.00 3.57 16.50 3.56 TN : 16.50 3.50 13.60 3.51 16.50 3.50 16.80 3.49 TX : 15.80 3.43 15.80 3.43 16.20 3.46 UT : 14.40 3.45 13.40 3.46 14.30 3.45 14.40 3.49 VT : 15.90 3.64 15.90 3.64 16.10 3.67 VA : 15.70 3.48 12.20 3.50 15.70 3.48 15.90 3.44 WA : 15.60 3.52 15.60 3.52 15.80 3.55 WI : 15.62 3.62 14.45 3.64 15.53 3.62 15.90 3.62 : US : 15.40 3.54 13.90 3.57 15.30 3.54 15.70 3.55 ------------------------------------------------------------------------------ 1/ Including milk 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. Parity Price Equivalent for Manufacturing Milk 1/: United States, July and August 1996, with Comparisons ------------------------------------------------------------------------------ Item : Aug 1995 : Jul 1996 : Aug 1996 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 25.04 26.51 26.60 Average Price F.O.B.......Dol per Cwt : 11.30 13.90 2/14.30 Average Fat Test of Milk..Percent : 3.57 3.57 2/3.58 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 1996 is 91.4 percent of the parity price of all milk sold to plants, compared with 91.4 percent in 1995. For additional details, see January 1996 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 August 1996, with Comparisons 1/ ------------------------------------------------------------------------------- : : Parity Prices :Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :------------------------------------------ : Prices : Aug : Jul : Aug : Aug : Jul : Aug : : 1995 : 1996 : 1996 : 1995: 1996: 1996 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .618 8.62 9.32 9.36 49 51 48 Rice, Cwt : 1.70 24.10 25.60 25.80 32 38 38 Corn, Bu : .411 5.84 6.20 6.23 45 71 72 Cotton, Lb : American Upland : .114 1.59 1.72 1.73 46 44 43 Extra Long Staple : .152 2.07 2.29 2.30 Peanuts, Lb : .0444 .619 .670 .673 49 Tobacco, By Type, Lb : Flue-Cured 11-14 : .251 3.55 3.79 3.80 50 42 44 VA Fire-Cured, 21 : .230 3.19 3.47 3.48 KY-TN Fire-Cured, 22-23 : .298 4.10 4.49 4.51 Burley, 31 : .260 3.64 3.92 3.94 Maryland, 32 : .218 3.07 3.29 3.30 Dark Air-Cured, 35-36 : .247 3.40 3.72 3.74 Sun-Cured, 37 : .206 2.79 3.11 3.12 PA Seedleaf, 41 : .161 2.20 2.43 2.44 Cigar Filler & Binder, : 42-44, 54-55 .198 2.79 2.99 3.00 Puerto Rican Filler, 46 : .173 2.44 2.61 2.62 Cigar Binder, 51-52 : .373 4.85 5.62 5.65 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.92 27.40 29.00 29.10 2/45 2/54 2/55 Honey, Extracted, Lb : 3/.0812 1.14 1.22 1.23 : Wool and Mohair : Wool, Lb : .282 3.98 4.25 4.27 Mohair, Lb : .708 9.98 10.70 10.70 : Other Nonbasic : Barley, Bu : .373 5.22 5.62 5.65 50 57 52 Cottonseed, Ton : 14.90 204.00 225.00 226.00 49 52 Dry Edible Beans, Cwt : 3.26 45.70 49.20 49.40 50 56 55 Flaxseed, Bu : .740 10.70 11.20 11.20 49 55 53 Oats, Bu : .229 3.24 3.45 3.47 46 61 59 Potatoes, Cwt : .865 11.70 13.00 13.10 58 59 47 Rye, Bu : .281 3.85 4.24 4.26 Sorghum Grain, Cwt : .642 9.01 9.68 9.73 52 68 67 Soybeans, Bu : .886 12.50 13.40 13.40 47 57 58 Sweetpotatoes, Cwt : 1.35 19.20 20.40 20.50 Apples, Fresh, Lb 5/ : .0286 .391 .431 .433 63 52 57 Citrus (equiv on-tree),box: Grapefruit : .671 10.10 10.10 10.20 49 39 49 Lemons : 1.23 16.50 18.50 18.60 59 75 Limes (FL) : 1.41 20.60 21.30 21.40 51 10/ 12 Oranges : .824 12.50 12.40 12.50 34 46 65 Tangerines : 1.94 27.60 29.30 29.40 Temples (FL) : .674 10.30 10.20 10.20 Beef Cattle, Cwt : 10.10 142.00 152.00 153.00 42 39 40 Calves, Cwt : 13.00 182.00 196.00 197.00 39 29 30 Hogs, Cwt : 6.89 98.30 104.00 104.00 49 56 58 Lambs, Cwt : 10.20 144.00 154.00 155.00 59 64 Sheep, Cwt : 4.09 57.20 61.70 62.00 47 49 Eggs, Doz : .0931 1.31 1.40 1.41 2/53 2/53 2/56 Turkeys, Live, Lb : .0586 .846 .884 .888 50 51 50 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for August 1996, 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 : .245 3.71 : Fresh 5/ : 49.90 756.00 Tobacco, Lb : : Dried, CA 7/ : 133.00 2010.00 Type 61 : 2.71 41.10 : Plums, CA, Ton : : : Fresh, Equiv : Noncitrus Fruit : : on-Tree : 58.20 882.00 Apples, Ton 7/ : : Prunes, Dried, : Processing : 18.00 273.00 : CA, Ton 7/ : 133.00 2010.00 Apricots, Ton : : Prunes and Plums,: Fresh 8/ : 161.00 2440.00 : Excl CA, Ton : Dried, CA : 310.00 4700.00 : Fresh 10/ : 55.90 847.00 Avocados, Ton 8/ : 171.00 2590.00 : Processing 7/ : Cherries : : Excl Dried : 18.90 286.00 Sweet, Ton : 140.00 2120.00 : : Tart, Lb : .0294 .445 :Tree Nuts 11/ : Cranberry, Bbl 6/: 7.10 108.00 : Almonds, Lb : .212 3.21 Dates, CA, Ton 8/: 137.00 2080.00 : Hazelnuts, Ton : 117.00 1770.00 Grapes, Ton : : Walnuts, Ton : 164.00 2480.00 Raisin Variety : 135.00 2050.00 : : Other, Dried : 49.90 756.00 :Vegetables, Cwt 12/: Nectarines : : Fresh : Fresh, Calif, : : Carrots 9/ : 1.67 25.30 Ton 8/ : 62.30 944.00 : Cauliflower 9/ : 4.11 62.30 Olives, CA : : Celery 9/ : 1.89 28.60 Canning, Ton 6/: 95.00 1440.00 : Honeydew Melons : 2.38 36.10 Peaches : : Lettuce : 2.14 32.40 Fresh, Lb 5/ : .0406 .615 : Onions 9/ : 1.80 27.30 Dried, CA, : : Tomatoes : 4.38 66.40 Ton : 137.00 2080.00 : : Processing 6/ : : : Excl Dried : : : Clingstone, : : : CA, Ton : 30.70 465.00 : : ------------------------------------------------------------------------------- 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. Cranberries: Marketing Year Average Prices Received by Growers, 1994-95 1/ ------------------------------------------------------------------------------ State : 1994 : 1995 ------------------------------------------------------------------------------ : Dollars per Barrel : MA : 50.60 53.40 NJ : 46.60 48.80 OR : 46.80 48.20 WA : 46.80 48.20 WI : 49.50 51.70 : US : 49.30 51.70 ------------------------------------------------------------------------------ 1/ Weighted average of co-op and independent sales. Co-op prices represent pool proceeds excluding returns from non-cranberry products and before deductions for capital stock and other retains. 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. Prices Paid The August Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 115 (1990-92=100), unchanged from July but up 4.5 percent from August 1995. Production Index: The farm production, goods, and services index for August 1996, at 116, was unchanged from a month earlier but up 6.4 percent from last August. Since July prices were higher for feeder pigs purchased, complete feeds, and feeder cattle. Prices were slightly lower for agricultural chemicals, fertilizer materials, and trucks. Livestock and Poultry: The index for livestock and poultry purchases was 78, an increase of 4.0 percent from last month but 2.5 percent below August a year earlier. Since last month, feeder cattle and calf prices climbed $1.10 to $61.60 per cwt and August feeder pig prices rose $11.00 to $79.00. Feed: At 139, the feed index was 0.7 percent above July 1996 and 34 percent greater than August a year ago. Complete feeds, corn, and alfalfa hay showed the greatest price increases since last month. On the downside, prices for barley, grain sorghum, and oats were lower compared to July. Fuels: The fuels index, at 97, was unchanged from last month but 7.8 percent above August 1995. August prices for diesel fuel and gasoline were up slightly. Agricultural Chemicals: The chemical index, at 117, showed no change since July. The index was 0.9 percent above August last year. Agricultural chemical prices were off marginally from last month. Fertilizer: At 124, the fertilizer index remained unchanged from July but was 4.2 percent above August a year ago. Since July, lower nitrogen material and phosphate prices offset higher mixed fertilizer prices. Farm Machinery: The farm machinery index, at 125, was unchanged from July but 3.3 percent greater than August last year. Prices for farm machinery items were mostly unchanged from July. Consumer Price Index: The July 1996 Consumer Price Index for all urban consumers (CPI-U) increased 0.2 percent before seasonal adjustment to a level of 157.0 (1982-84=100). The June index was 156.7. For the 12-month period ended in July, the overall index increased 3.0 percent. Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, August 1996 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 1995 : 1996 : 1995 : 1996 Ratios :---------------------------------------------- : Aug : Jul : Aug : Aug : Jul : Aug -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1441 *1510 1515 110 115 115 Production : 1057 *1121 1127 109 *116 116 Feed : 507 *676 680 104 138 139 Livestock and Poultry : 1026 956 992 80 75 78 Seeds : 1087 1160 1160 110 117 117 Fertilizer : 437 *453 453 119 *124 124 Agricultural Chemicals : 733 *744 744 116 117 117 Fuels : 694 *745 745 90 *97 97 Supplies & Repairs : 800 *814 814 113 *115 115 Autos & Trucks : 3190 *3268 3268 120 123 123 Farm Machinery : 3026 *3124 3124 121 125 125 Building Material : 1562 *1571 1571 115 116 116 Farm Services & Rent : 1428 1325 1334 Farm Services : 120 118 119 Rent : 116 119 119 Interest 1/ : 2578 2553 2553 103 102 102 Taxes 2/ : 3123 3243 3243 117 121 121 Wage Rates : 4161 *4386 4386 111 *113 113 Production, Interest, Taxes, : & Wage Rates (PITW) : 1465 *1509 1511 109 114 114 Family Living-CPI 3/ : 1452 *1494 1494 113 116 116 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 93 103 101 Parity Ratio 4/ : 45 50 49 Parity Ratio Adjusted 5/ : 47 51 50 PPITW Adjusted for : Productivity 6/ : 993 *1034 1036 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 113 116 116 Livestock Sector (PPITW) : 107 114 115 -------------------------------------------------------------------------------- Farm Sector (Production) : 96 112 113 Non-Farm Sector (Production) : 116 117 118 -------------------------------------------------------------------------------- * 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 Price 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 1.020 for 1996 and the revised factor is 1.034 for 1995. 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, August 1996 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :----------------------------- Index : 5-Year Moving Average : 1995 : 1996 :----------------------------------------------------- : 1995 : 1996 : Aug : Jul : Aug -------------------------------------------------------------------------------- : ---- Percent --- ---- (1990-92=100) ---- : Production Items : 66.3 66.1 109 *116 116 : Feed : 11.5 11.2 104 138 139 Complete Feeds : 5.0 4.9 101 133 133 Feed Grains : 2.1 2.1 113 *185 186 Hay/Forages : 1.3 1.2 106 116 120 Concentrates : 1.8 1.8 97 *122 122 Supplements : 1.3 1.2 105 *129 129 Livestock & Poultry : 8.4 8.3 80 75 78 Feeder Cattle : 6.5 6.4 78 71 73 Milk Cow Replacements : .7 .7 100 97 97 Feeder Pigs : .7 .7 60 64 86 Poultry : .5 .5 105 104 104 Seeds : 2.7 2.7 110 117 117 Field Crops : 2.4 2.4 109 117 117 Grasses/Legumes : .3 .3 119 120 120 Fertilizer : 4.7 4.6 119 *124 124 Mixed Fertilizer : 2.1 2.0 117 *124 124 Nitrogen : 2.0 2.0 127 *130 130 Potash & Potassium : .6 .6 101 *104 104 Agricultural Chemicals : 3.4 3.4 116 117 117 Herbicides : 2.1 2.1 114 116 116 Insecticides : .8 .8 120 123 123 Fungicides/Other : .5 .5 115 115 115 Fuels : 2.9 2.9 90 *97 97 Diesel : 1.6 1.6 87 *93 93 LP Gas : .3 .3 90 *101 101 Gasoline : 1.0 1.0 94 *100 100 Farm Supplies & Repairs : 5.4 5.4 113 *115 115 Supplies : 1.8 1.8 110 113 113 Repairs : 3.6 3.6 114 *116 116 Autos & Trucks : 1.4 1.4 120 123 123 Autos : .2 .2 117 120 120 Trucks : 1.2 1.2 120 *123 123 Farm Machinery : 4.5 4.5 121 125 125 Self-Propelled : 1.8 1.8 124 128 128 Tractors : 1.0 1.0 117 119 119 Other Machinery : 1.7 1.7 120 124 124 Building Materials : 2.4 2.5 115 116 116 Farm Services : 11.1 11.2 120 118 119 Custom Rates : 1.1 1.1 104 111 111 Other Services : 10.0 10.1 121 119 119 Rent : 7.8 8.0 116 119 119 Cash : 3.5 3.6 123 129 129 Share : 4.3 4.4 110 111 111 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios: With Comparisons, United States, August 1996 ------------------------------------------------------------------------------ : 1995 : 1996 Feed Price Ratio 1/ :---------------------------- : Aug : Jul : Aug ----------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower equal in : *5.5 4.1 4.1 Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs : *8.8 *6.5 6.9 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 18.5 *13.3 13.3 Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : *2.50 *2.20 2.21 : Steer & Heifer-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight : 23.5 *14.0 14.2 Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 6.3 *4.9 4.8 value to 1 pound of broiler, live weight : ----------------------------------------------------------------------------- 1/ Effective January 1995, prices of commercial prepared feeds are based on current U.S. prices received for corn, soybeans, alfalfa hay, and all wheat.* Revised. Feeder Livestock and Poultry: Prices Paid, With Comparisons United States, August 1996 ----------------------------------------------------------------------------- : : 1995 : 1996 ITEM : Unit :----------------------------------------- : : Aug : Jul Aug ----------------------------------------------------------------------------- : : Dollars Feeders and Stockers : : Cattle and Calves : Cwt : 58.20 60.50 61.60 Pigs : " : 62.00 58.50 79.00 Broiler Chicks 1/ : Per 100 : Egg-Type Chicks 1/ : " : Turkey Poults 1/ : Each : ----------------------------------------------------------------------------- 1/ Annual average poultry prices. Quarterly poultry prices discontinued January 1994. 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 8,500 firms are randomly selected from lists by type of item sold with an average response rate in the range of 75-80 percent. Firms are asked to report the price for the specified item "most commonly bought by farmers" or that was the "volume seller". Approximately 135 items are surveyed each April 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 agricultural chemicals, fuels, feed, fertilizer, machinery, and seed. Summary and Estimation Procedures: The annual April 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. Prices paid indexes for new autos and trucks, building materials, farm supplies, motor supplies, and marketing containers are updated based on price changes measured in selected Bureau of Labor Statistics (BLS) indexes. Revisions: Any revisions are published in the monthly and in annual issues of "Agricultural Prices". The basis for revision must be supported by additional data that directly affect the level of the estimate. More revisions are likely in April when separate prices paid surveys are conducted, in lieu of BLS indexes, by the USDA to measure price change. Reliability: Current methods of summarization in April 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). 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-25-26 Milk................... A-21 Oats................... A-13 Monthly State Prices Peanuts................ A-14 Potatoes............... A-17 Apples................... A-15 Sheep.................. A-20 Barley................... A-13 Sorghum, Grain......... A-13 Barrows and Gilts........ A-19 Soybeans............... A-13 Beans, Dry Edible........ A-14 Sows................... A-19 Beef Cattle.............. A-18 Steers and Heifers..... A-18 Broilers................. A-20 Sunflower.............. A-14 Calves................... A-18 Tobacco................ A-14 Corn..................... A-13 Turkeys................ A-20 Cotton................... A-15 Wheat.................. A-12 Cottonseed............... A-15 Special Features Cranberries: Marketing Year Average Price ........................ A-24 Index Prices Paid Page Narrative................................................ B-1 Indexes and Parity Ratios........................ ....... B-2-3 Charts................................................... B-4-6 Feed Ratios.............................................. B-7 Reliability Statement.................................... B-8 U.S. Average Prices: Feeder Livestock and Poultry ......................... B-7 Report Features Listed below are the commodity specialists in the Estimates Division of the National Agricultural Statistics Service to contact for additional information. Crops Branch C. Ray Halley, Chief (202) 720-2127 Field Crops Section Bill Dowdy, Head (202) 720-3843 Kevin Barnes - Oilseeds (202) 720-7369 Dan Kerestes - Corn (202) 720-9526 Roger Latham - Cotton (202) 720-5944 Joel Moore - Barley, Hay, Sorghum (202) 690-3234 Greg Preston - Oats (202) 720-7621 Barbara Rater - Peanuts, Rice, Tobacco (202) 720-7688 Vaughn Siegenthaler - Wheat (202) 720-8068 Fruit and Vegetable Section Vince Matthews, Head (202) 720-3843 Arvin Budge - Potatoes (202) 720-4285 Howard Hill - Grapes, Strawberries (202) 720-7235 Dave Mueller - Vegetables (202) 720-2157 Linda Simpson - Apples, Dry Beans, Peaches, Pears (202) 720-3578 Blair Smith - Citrus (202) 720-5412 Commodity Prices Coordinator Charles Van Lahr (202) 720-5446 Livestock and Economic Branch Robert W. Milton, Chief (202) 720-3570 Livestock Section Doyle Fuchs, Head (202) 720-4447 Dean Groskurth - Cattle (202) 720-3040 James Hand - Sheep, Lambs (202) 690-3236 Kevin Hintzman - Milk (202) 720-4448 Mike Pallesen - Hogs (202) 720-3106 Poultry and Specialty Commodities Section Alfonzo Drain, Head (202) 720-6351 Dan Boostrum - Eggs (202) 720-3244 James Brewster - Turkeys (202) 720-8784 Tom Krutchen - Broilers (202) 690-4870 Farm Inputs Section (Prices Paid) Douglas Kleweno, Head (202) 720-4214 Daryl Brinkman - Prices Paid Indexes, Feed, Fertilizer, Agricultural Chemicals, Seeds (202) 690-3226 Jim Williams - Farm Supplies and Repairs, Farm Machinery, Fuels, Feeder Livestock, Poultry Chicks, Feed Price Ratios, Grazing Fees, Autos & Trucks (202) 690-3225 The next "Agricultural Prices" report will be released at 3:00 p.m. ET on September 30, 1996. 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