HDR1012000120010530971500Agricultural Prices Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released May 30, 1997, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, U.S. Department of Agriculture. For information on "Agricultural Prices" or other assistance, see page B-14. Prices Received Index Gains 1 Point The All Farm Products Index of Prices Received in May was 107 based on 1990-92=100, up 1 point (0.9 percent) from April. Price increases from April for hogs, strawberries, cattle, and lemons were offset by price decreases for lettuce, milk, corn, and broilers. The seasonal changes in the mix of commodities farmers sell also affect the overall index level. Higher seasonal marketings of cantaloupes, sweet corn, grapes, and wheat more than offset the relatively lower marketings of cattle, milk, cotton, and corn. These changes contributed virtually all of the one point increase in the overall index. Compared with May 1996, the All Farm Products Index was 5 points (4.5 percent) lower. Price decreases from May 1996 for corn, wheat, milk, and potatoes more than offset price increases for cattle, soybeans, hay, and calves. Prices Paid Index Unchanged The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 117 percent of the 1990-92 average. The index was unchanged from April but 2 points (1.7 percent) above May 1996. Since April, higher prices for feeder cattle and calves were offset by slightly lower feeder pig, and feed prices. Index Summary Table ----------------------------------------------------------------------------- : 1996 : 1997 Index :----------------------------------------------------- 1990-92=100 : Apr : May : Apr : May ----------------------------------------------------------------------------- : : : : Prices Received : 108 : 112 : 106 : 107 : : : : Prices Paid : 114 : 115 : 117 : 117 : : : : Ratio 1/ : 95 : 97 : 91 : 91 ----------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Pr 1 (5-97) Prices Received by Farmers The May All Farm Products Index was 107 percent of its 1990-92 base, up 0.9 percent from April but down 4.5 percent from May 1996. All Crops: The May index was 117, up 1.7 percent from April but 11 percent below May 1996. From April, price increases for fruits, oilseeds, and potatoes and dry beans more than offset price decreases for vegetables, feed grains and hay, and food grains. Feed Grains & Hay: The May index was 124, down 2.4 percent from last month and 27 percent below May 1996. The corn price, at $2.68 per bushel, was down 12 cents from April and $1.46 below the May 1996 price. The all hay price, at $118.00 per ton, was up $1.00 from April. Oil-Bearing Crops: The May index, at 150, was up 2.7 percent from April and 9.5 percent above May 1996. Soybean prices, at $8.42 per bushel, increased 19 cents from April. Food Grains: The May index, at 138, was down 1.4 percent from the previous month, and 25 percent below May 1996. The May all wheat price, at $4.09 per bushel, was down 2 cents from April and $1.66 below the May 1996 price. Fruit and Nuts: The May all fruit and nuts index, at 106, increased 20 percent from the previous month but was 9.4 percent below May 1996. Higher prices for strawberries, lemons, oranges, and pears accounted for the May increase. Potatoes and Dry Beans: The May index, at 90, was up 7.1 percent from April but 35 percent below May 1996. The May potato price, at $4.87 per cwt, was up 32 cents from April but $3.22 below May 1996. New season potato prices increased as a result of heavy rainstorms in the Hastings, Florida area. Prices for fall potatoes continue to decline. Livestock and Products: The May index, at 100, was up 1.0 percent from April and 3.1 percent higher than in May 1996. Prices received for cattle, calves, and hogs were up from a year ago, while prices declined for milk, broilers, eggs, and turkeys. Meat Animals: The May index, at 97, was up 3.2 percent from April and 14 percent above May 1996. The May beef cattle price, at $65.60 per cwt, was up 80 cents from last month and $10.90 from a year earlier. The May hog price of $58.00 was up $4.20 from April and $1.20 higher than a year ago. Fed cattle and beef cow prices were steady to down slightly because of large supplies of cattle on feed, while shrinking supplies of lighter weight cattle led to higher feeder prices. Hog prices were supported by smaller than expected slaughter and prospects for export growth. Dairy Products: The May index, at 100, was down 2.9 percent from April and was 8.3 percent below last year. The May all milk price, at $13.10 per cwt, was down 30 cents from April, and $1.20 below last year. April milk production was up 0.8 percent from last year. Cheese prices continued to weaken during May. Poultry and Eggs: The May index, at 106, was 0.9 percent below April and 8.6 percent below a year ago. The May broiler price at 36.4 cents per pound decreased 0.7 cents from April. Market egg prices decreased 2.1 cents to 51.1 cents per dozen. Turkeys increased 1.7 cents to 41.2 cents per pound. Supplies of broilers and eggs continue to be large. Cold storage holdings of turkeys decreased and placements are running 5 percent below a year ago. Index Numbers of Prices Received, United States, May 1997, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 1/ :------------------------------------------------------ Index : : 1996 : 1997 : 1996 : 1997 :Average:---------------------------------------------- :1990-92: May : Apr : May : May : Apr : May ------------------------------------------------------------------------------- : All Farm Products : 639 710 673 682 112 106 107 : All Crops : 500 645 *569 576 131 115 117 Food Grains : 325 584 *445 439 184 *140 138 Feed Grains & Hay : 363 606 453 442 170 127 124 Cotton : 517 648 *569 563 127 *111 110 Tobacco 2/ : 1263 Oil-Bearing Crops : 554 750 *801 819 137 *146 150 Fruit & Nuts : 716 820 *612 743 117 *88 106 Commercial Vegetables : 698 668 *755 717 100 *113 107 Potatoes & Dry Beans : 540 696 *427 454 138 *84 90 Other Crops : 493 532 532 532 108 108 108 : Livestock & Products : 768 745 *758 765 97 99 100 Meat Animals : 1021 862 956 985 85 94 97 Dairy Products : 799 879 *823 805 109 103 100 Poultry & Eggs : 282 326 302 299 116 107 106 : Food Commodities : 106 103 106 ------------------------------------------------------------------------------- * Revised. 1/ 1990-92=100 reference replaced 1977=100 in January 1995. 2/ Missing data indicate insufficient sales to establish a price. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Months, United States, 1996 and 1997 ------------------------------------------------------------------------------ : Index of Prices Received : Index of Prices Paid :-------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :-------------------------------------------------------------------- : 1996 : 1997 : 1996 : 1997 : 1996 : 1997 : 1996 : 1997 : 1996 : 1997 ------------------------------------------------------------------------------ Jan : 108 108 121 116 94 98 113 116 113 115 Feb : 106 105 123 113 93 98 113 116 113 115 Mar : 109 107 128 117 94 98 114 117 114 117 Apr : 108 106 128 115 93 99 114 117 114 117 May : 112 107 131 117 97 100 115 117 115 117 Jun : 118 140 100 115 115 Jul : 119 136 102 115 116 Aug : 118 133 104 115 116 Sep : 116 125 105 115 116 Oct : 112 119 103 115 114 Nov : 111 118 102 115 114 Dec : 110 116 103 115 114 ------------------------------------------------------------------------------ Prices Received, United States, May 1997, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : May : Apr : May : : : 1996 : 1997 : 1997 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 3.45 2.27 2.37 Feed : Bu : 1.90 3.43 2.24 2.39 Malting : Bu : 2.43 3.52 2.30 2.34 Beans, Dry Edible : Cwt : 19.10 24.80 22.60 23.50 Corn : Bu : 2.30 4.14 2.80 2.68 Cotton, Upland : Lb : .606 .767 .673 .666 Cottonseed : Ton : 96.00 : : Flaxseed : Bu : 4.27 6.13 6.49 6.21 Hay, All, Baled 1/ : Ton : 76.30 95.50 117.00 118.00 Alfalfa 1/ : Ton : 77.20 100.00 123.00 127.00 Other 1/ : Ton : 60.00 75.70 82.30 84.80 Oats : Bu : 1.22 2.48 1.87 1.81 Peanuts, In-Shell : Lb : .304 Potatoes : Cwt : 5.82 8.09 4.55 4.87 : : Rice, Rough : Cwt : 7.07 9.73 10.20 9.78 Sorghum Grain : Cwt : 3.75 7.65 4.34 4.16 Soybeans : Bu : 5.61 7.69 8.23 8.42 Sunflower 2/ : Cwt : 9.50 13.50 12.40 12.20 Tobacco : Lb : 1.740 : : Wheat, All : Bu : 2.96 5.75 4.11 4.09 Winter : Bu : 2.93 5.81 4.14 4.14 Durum : Bu : 2.86 5.76 4.40 4.50 Other Spring : Bu : 3.11 5.68 4.04 3.94 Hard Red : Bu : 2.95 5.83 4.15 Soft Red : Bu : 2.87 4.61 3.90 White : Bu : 3.24 5.38 3.92 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 3.22 1.16 -.140 Lemons : Box : 10.10 6.73 2.59 10.20 Limes : Box : 10.15 4.80 Oranges : Box : 5.79 6.63 4.65 4.76 Tangelos : Box : 5.82 Tangerines : Box : 15.11 7.76 7.81 Temples : Box : 6.23 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .219 .160 .148 Grapes, Fresh 3/ : Ton : 506.00 1300.00 1200.00 Peaches, Fresh 3/ : Lb : .216 .348 .304 Pears, Fresh 3/ : Ton : 370.00 367.00 471.00 501.00 Strawberries, Fresh: Lb : .560 .456 .427 .636 ----------------------------------------------------------------------------- 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, United States, May 1997, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : May : Apr : May : : : 1996 : 1997 : 1997 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 95.30 108.00 100.00 Broccoli : Cwt : 22.50 28.20 24.20 25.80 Cantaloupes : Cwt : 17.50 22.70 Carrots : Cwt : 13.20 12.00 12.70 12.60 Cauliflower : Cwt : 26.80 37.70 28.20 25.00 Celery : Cwt : 11.60 8.90 10.50 16.60 Corn, Sweet : Cwt : 15.70 15.60 16.20 17.80 Cucumbers 2/ : Cwt : 11.00 27.80 24.30 Lettuce : Cwt : 11.90 13.30 15.70 10.70 Onions : Cwt : 12.80 9.67 17.40 13.80 Snap Beans 2/ : Cwt : 44.10 59.50 46.00 Tomatoes : Cwt : 32.30 23.60 27.60 23.00 : : Livestock : : : : Calves : Cwt : 94.30 54.40 82.20 83.40 Cattle, All Beef : Cwt : 72.90 54.70 64.80 65.60 Cows : Cwt : 49.60 30.40 38.20 38.10 Steers & Heifers : Cwt : 77.10 57.60 67.90 68.80 Milk Cows 3/ : Head : 1130.00 1110.00 : : Hogs, All : Cwt : 47.70 56.80 53.80 58.00 Barrows & Gilts : Cwt : 48.40 57.70 54.40 58.60 Sows : Cwt : 39.50 41.40 44.80 48.40 : : Lambs : Cwt : 56.20 90.30 96.60 Sheep : Cwt : 23.40 25.30 37.60 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 14.30 13.40 5/13.10 Fluid Grade : Cwt : 13.10 14.30 13.40 5/13.10 Mfg Grade : Cwt : 11.80 13.40 11.70 5/11.20 : : Broilers, Live 6/ : Lb : .317 .378 .371 .364 Eggs, All 7/ : Doz : .643 .695 .658 .643 Market 7/ : Doz : .546 .569 .532 .511 Turkeys, Live 6/7/ : Lb : .380 .432 .395 .412 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .688 .621 .624 Milk, All 4/ : Cwt : 9.71 14.59 13.54 13.23 ----------------------------------------------------------------------------- 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. Includes quality, quantity, and other premiums. Excludes hauling subsidies. 5/ Fat test percent: all milk 3.60, fluid milk 3.59, mfg grade 3.72. 6/ Equivalent liveweight returns to producers for most States. 7/ Mid-month price. Wheat: Prices Received, by States, April and May 1997 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat : Oth Spring Wheat State :------------------------------------------------------------------------ : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ ------------------------------------------------------------------------------- : Dollars per Bushel : AR : 4.05 3.75 4.05 3.75 CA : 4.34 4.45 4.34 4.44 3/ 3/ CO : 4.25 4.07 4.26 4.07 4.14 3/ ID : 3.75 3.99 3.87 4.05 3.64 3.90 IL : 3.90 3.70 3.90 3.70 IN : 3.81 3.55 3.81 3.55 KS : 4.40 4.20 4.40 4.20 MI : 3.73 3.50 3.73 3.50 MN : 4.08 4.00 3/ 3/ 4.08 4.00 MO : 4.10 3.70 4.10 3.70 MT : 4.14 4.10 4.11 4.10 4.13 4.30 4.16 4.10 NE : 4.24 3.98 4.24 3.98 ND : 4.17 4.01 3/ 3/ 4.41 4.50 4.06 3.80 OH : 3.82 3.70 3.82 3.70 OK : 4.29 4.09 4.29 4.09 OR : 4.16 4.40 4.16 4.40 SD : 4.01 3.93 3.94 3.89 3/ 3/ 4.04 3.95 TX : 4.18 4.07 4.18 4.07 WA : 4.14 4.36 4.12 4.36 4.30 4.40 : US : 4.11 4.09 4.14 4.14 4.40 4.50 4.04 3.94 ------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Price not published to avoid disclosure of individual buyers. Prices Received for Selected Agricultural Commodities, by Months, United States, 1996 and 1997 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 1996 :1997 2/:1996 :1997 2/: 1996 :1997 2/: 1996 :1997 2/: 1996 :1997 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 4.83 4.03 3.09 2.69 6.78 7.13 59.00 61.40 42.60 53.80 Feb : 4.98 3.88 3.37 2.65 7.00 7.38 57.90 61.90 46.50 52.80 Mar : 5.07 3.93 3.51 2.79 7.00 7.97 56.80 64.80 48.70 49.40 Apr : 5.32 4.11 3.85 2.80 7.43 8.23 54.90 64.80 49.70 53.80 May : 5.75 4.09 4.14 2.68 7.69 8.42 54.70 65.60 56.80 58.00 Jun : 5.25 4.20 7.41 56.40 56.40 Jul : 4.73 4.43 7.62 59.10 58.60 Aug : 4.58 4.30 7.82 61.30 59.70 Sep : 4.37 3.55 7.79 63.80 54.70 Oct : 4.18 2.89 6.95 63.30 55.60 Nov : 4.14 2.66 6.90 63.40 54.40 Dec : 4.06 2.63 6.91 61.00 55.60 ------------------------------------------------------------------------------- 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, April and May 1997 ------------------------------------------------------------------------------ : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/:Apr 2/:May 3/: Apr 2/: May 3/ ------------------------------------------------------------------------------ : ----------------- Dollars per Bushel ---------------- Dollars per Cwt : AL : AR : 8.44 8.50 4.95 4.56 CA : 4/ 4/ CO : 2.61 2.68 2.78 2.68 GA : 3.44 3.34 8.41 8.62 ID : 2.73 2.74 IL : 2.90 2.80 2.37 2.30 8.36 8.65 4.66 4.55 IN : 2.96 2.83 8.38 8.58 IA : 2.72 2.62 2.04 1.98 8.18 8.35 KS : 2.78 2.73 8.20 8.41 4.47 4.23 KY : 3.04 2.90 8.36 8.40 LA : 5/ 4/ MI : 2.90 2.75 2.49 2.30 8.26 8.40 MN : 2.24 2.20 2.58 2.50 1.78 1.70 8.08 8.24 MS : 8.51 8.61 MO : 2.82 2.70 8.29 8.40 4.58 4.35 MT : 2.55 2.54 2.00 2.00 NE : 2.75 2.63 2.10 2.00 7.84 8.20 4.12 4.00 NC : 3.35 3.30 8.50 8.52 ND : 2.08 2.18 1.62 1.50 OH : 2.94 2.80 2.24 2.25 8.41 8.50 OK : 4.52 4.29 OR : 2.57 2.65 2.07 2.00 PA : 3.21 3.17 2.27 2.17 SD : 2.20 2.41 2.50 2.47 1.75 1.65 8.06 8.19 TN : 8.38 8.40 TX : 3.05 2.90 4.68 4.52 UT : 2.74 2.62 WA : 2.47 2.55 WI : 2.76 2.65 1.94 1.95 8.14 8.35 WY : 2.59 2.65 : US : 2.27 2.37 2.80 2.68 1.87 1.81 8.23 8.42 4.34 4.16 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for May 1997 is $2.01. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual operations. 5/ Insufficient sales volume to establish a price. Malting and Feed Barley: Prices Received Selected States, April and May 1997 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Apr : May : Apr : May ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 3.22 3.15 2.60 2.60 MN : 2.24 2.20 1.94 1.90 MT : 3.13 3.10 2.22 2.30 ND : 2.18 2.25 1.94 2.00 SD : 2.43 2.55 2.05 2.30 WY : 1/ 1/ 2.59 2.65 ------------------------------------------------------------------------------ 1/ Insufficient sales volume to establish a price. Field Crops: Prices Received, by States, April and May 1997 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :----------------------------------------------------------------------- :Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 2/:Apr 1/:May 3/: Apr 1/: May 3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : CA : 39.40 39.60 CO : 19.70 19.80 FL : GA : ID : 23.00 23.10 IN : KS : 5/ 5/ KY : MD : MI : 20.90 20.00 MN : 17.40 18.30 13.60 13.40 MO : NE : 19.00 19.20 NC : ND : 16.90 16.50 12.90 13.10 6.49 6.25 OH : OK : SC : SD : 11.00 10.90 5/ 6.01 TN : TX : VA : WV : : US : 22.60 23.50 12.40 12.20 6.49 6.21 6/ 6/ ------------------------------------------------------------------------------ 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. 6/ Insufficient sales to establish a price. Field Crops and Apples: Prices Received, by States, April and May 1997 ---------------------------------------------------------------------------- : : May : Cotton, Upland :------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :----------------------------: Fresh : Apr 1/ : May 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ ---------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton ------- Dol/Lb : AL : AZ : .692 .705 127.00 127.00 132.00 AR : .671 .655 CA : .735 .762 133.00 138.00 97.00 CO : 124.00 125.00 115.00 GA : .662 .691 ID : 108.00 108.00 74.00 IL : 118.00 125.00 92.00 IA : 115.00 119.00 77.00 KS : 91.00 95.00 68.00 KY : 82.00 95.00 63.00 LA : .620 .614 MI : 123.00 125.00 110.00 .150 MN : 105.00 115.00 67.00 MS : .659 .657 MO : 72.00 105.00 65.00 MT : 98.00 101.00 89.00 NE : 72.00 74.00 53.00 NV : 116.00 119.00 86.00 NM : 131.00 134.00 103.00 NY : 87.00 90.00 85.00 .176 NC : .678 .690 ND : 64.00 69.00 44.00 OH : 163.00 200.00 100.00 .266 OK : 87.00 103.00 62.00 OR : 115.00 120.00 80.00 PA : 123.00 144.00 111.00 .240 SD : 88.00 97.00 67.00 TN : .658 .646 TX : .653 .646 103.00 150.00 71.00 UT : 88.00 88.00 55.00 VA : .190 WA : 114.00 110.00 125.00 .139 WI : 101.00 110.00 65.00 WY : 94.00 95.00 85.00 : US : .673 .666 118.00 127.00 84.80 .148 ---------------------------------------------------------------------------- 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 August-February. Upland Cotton and Rice: Prices Received and Marketings, United States, May 1997, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Mar 1997 1/ : Apr 1997 1/ : May 1997 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .694 .673 .666 Marketings 3/ : 1,000 Bales : 891 448 NA : : Rice : : Average Price : Dollars/Cwt : 10.20 10.20 9.78 Marketings 4/ : 1,000 Cwt : 10133 9902 NA ---------------------------------------------------------------------------- 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Expanded data from sample of about 59 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, May 1997 ------------------------------------------------------------------------------ : : 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/ : AZ : 12.60 3.98 7.16 -0.22 2.04 5.22 -2.16 CA : 12.40 3.93 6.96 -0.22 1.99 5.02 -2.16 FL : 11.20 2.29 4.81 1.18 -0.25 2.81 -1.60 White Seedless : 10.40 1.30 4.00 1.00 -1.33 2.00 -1.70 Colored Seedless: 11.30 2.81 4.90 1.30 0.28 2.90 -1.60 Other : 1.50 1.50 -0.30 -0.30 : CA-AZ 2/ : 12.50 3.95 7.05 -0.22 2.01 5.11 -2.16 : US : 11.30 2.37 5.00 1.14 -0.14 3.01 -1.62 : Lemons : CA : 27.30 13.84 18.86 1.08 10.20 15.22 -2.56 : US : 27.30 13.84 18.86 1.08 10.20 15.22 -2.56 : Limes : FL : 22.00 10.80 10.80 4.80 4.80 : Oranges : AZ : 11.70 5.74 5.80 -0.48 3.66 3.72 -2.56 Valencia : 11.70 5.74 5.80 -0.48 3.66 3.72 -2.56 CA : 18.80 10.61 12.88 -0.48 8.58 10.85 -2.51 Navel and Misc : 21.50 12.67 15.48 -0.48 10.69 13.50 -2.46 Valencia : 16.10 8.46 10.20 -0.48 6.38 8.12 -2.56 FL : 12.20 6.19 5.80 6.20 4.19 3.80 4.20 Valencia : 12.20 6.19 5.80 6.20 4.19 3.80 4.20 : CA-AZ : Navel and Misc : 21.50 12.67 15.48 -0.48 10.69 13.50 -2.46 Valencia : 15.70 8.25 9.82 -0.48 6.17 7.74 -2.56 : US : 17.30 6.76 11.21 6.03 4.76 9.18 4.03 ------------------------------------------------------------------------------ 1/ Approximate net contents per box are as follows: Grapefruit - AZ and CA 67 lbs; FL, 85 lbs; TX, 80 lbs; Lemons - 76 lbs; Limes - 88 lbs; Oranges - 75 lbs; FL, 90 lbs; TX 85 lbs. 2/ California Desert Valley and Other Areas Grapefruit estimates combined with All Grapefruit beginning in 1995-1996. Potatoes: Prices Received, by States, April and May 1997 ------------------------------------------------------------------------------ : : :: : : State : Apr : May :: State : Apr : May : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : 11.00 :: NC : AZ : 6.55 7.65 :: ND - All 1/ : 4.50 4.50 CA - All : 9.75 7.85 :: - Fresh 2/ : 3.00 NA - Winter : 21.80 :: - Processing : 5.00 NA - Spring : 9.00 :: OH : 6.80 - Summer : :: OR : 4.75 4.75 - Fall : 4.60 4.55 :: PA : 7.70 7.40 CO - All 1/ : 1.25 0.85 :: TX : 8.30 - Fresh 2/ : 0.85 NA :: VA : FL : 13.00 9.45 :: WA - All : 5.05 5.00 ID - All 1/ : 3.20 3.25 :: - Processing : 5.50 NA - Fresh 2/ : 1.50 NA :: WI - All 1/ : 3.20 2.80 - Processing : 3.70 NA :: - Fresh 2/ : 1.35 NA ME : 5.10 4.95 :: - Processing : 4.05 NA MI : 6.10 6.20 :: : MN : 4.35 4.35 :: US - All 1/ : 4.55 4.87 NY : 7.10 7.10 :: - Fresh 2/ : 4.19 NA : :: - Processing : 4.74 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, April and May 1997 ------------------------------------------------------------------------------ : Cows 1/ : Steers & Heifers: Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : Apr 2/ : May 3/ : Apr 2/ : May 3/ : Apr 2/ : May 3/ : Apr 2/ : May 3/ ------------------------------------------------------------------------------ : Dollars per Cwt : AZ : 40.50 40.50 67.00 68.00 63.80 65.30 82.00 82.50 AR : 38.00 37.80 72.00 75.40 57.70 59.60 66.60 68.40 CA : 35.00 36.00 62.00 63.00 49.00 51.10 67.00 70.00 CO : 41.90 40.10 68.70 68.50 67.10 66.50 85.80 86.20 FL : 36.80 37.50 67.00 69.00 42.20 43.20 88.30 92.10 GA : 36.30 36.20 67.10 68.50 47.40 46.90 79.10 80.10 ID : 37.50 36.40 65.20 65.50 58.50 58.50 75.00 77.00 IL : 40.00 40.70 67.60 67.60 67.10 67.10 103.00 104.00 IA : 40.40 41.40 68.40 68.30 67.70 67.80 76.40 76.70 KS : 37.70 39.90 67.30 68.80 66.10 67.60 86.00 86.00 KY : 38.00 39.00 66.00 69.00 59.30 61.80 75.00 77.00 LA : 38.40 37.00 70.80 72.00 47.80 47.90 78.30 78.00 MI : 38.20 37.50 63.30 63.50 53.30 53.10 57.00 56.00 MN : 38.00 39.00 64.50 65.50 62.00 62.90 65.40 69.00 MO : 39.30 39.80 73.40 77.00 64.90 67.70 82.20 84.20 MT : 41.40 42.00 74.10 78.90 62.30 61.90 83.90 84.40 NE : 39.50 39.50 69.70 70.00 68.60 69.10 84.40 84.40 NM : 43.60 43.70 71.50 76.00 62.00 65.30 85.40 88.80 ND : 39.50 39.50 72.10 72.00 62.00 59.70 73.40 73.50 OH : 35.60 36.00 63.30 64.00 60.50 61.20 61.10 60.00 OK : 39.50 40.30 72.00 75.50 67.70 70.90 84.10 88.20 OR : 42.50 41.00 66.90 70.10 59.60 61.40 71.70 76.50 PA : 36.10 36.50 64.50 64.00 57.10 56.90 69.00 69.50 SD : 35.80 36.50 72.70 74.70 67.90 67.80 84.20 89.20 TN : 37.20 37.50 70.10 73.10 56.90 58.90 77.60 78.70 TX : 38.30 37.10 68.30 69.80 65.60 66.90 87.80 88.70 VA : 31.80 33.90 68.50 67.90 60.00 60.10 74.20 74.20 WI : 40.20 39.80 64.60 65.70 50.40 50.70 94.90 98.10 WY : 41.20 41.20 73.10 74.00 70.20 67.40 83.20 85.00 : US : 38.20 38.10 67.90 68.80 64.80 65.60 82.20 83.40 ------------------------------------------------------------------------------ 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, April and May 1997 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 44.30 43.90 50.70 54.80 50.10 53.70 IL : 45.10 48.20 53.60 57.70 52.90 56.90 IN : 46.10 49.10 53.50 57.60 52.80 56.80 IA : 47.80 51.50 55.30 59.40 54.90 59.10 KS : 46.90 51.60 53.40 58.20 52.50 57.20 KY : 45.00 48.00 54.00 58.00 53.60 57.60 MI : 40.40 44.50 55.50 59.50 53.90 58.30 MN : 45.70 50.00 54.90 59.00 54.50 58.60 MO : 44.60 47.40 52.50 57.00 52.00 56.40 NE : 46.20 52.00 55.80 60.60 55.70 60.40 NC : 46.20 51.00 54.70 58.80 54.60 58.70 OH : 42.60 46.00 54.30 58.00 53.80 57.50 PA : 42.30 44.00 52.00 55.00 50.50 53.40 SC : 44.60 48.90 50.70 56.30 50.40 55.90 SD : 43.90 50.30 56.40 62.20 55.20 60.90 TN : 44.40 47.70 51.30 56.70 50.60 55.80 TX : 39.60 41.30 51.10 54.00 49.50 52.20 VA : 41.00 45.00 52.40 56.00 52.20 55.80 WI : 42.20 47.00 53.20 58.60 51.80 57.10 : US : 44.80 48.40 54.40 58.60 53.80 58.00 ------------------------------------------------------------------------------ 1/ Entire month 2/ Mid-month. Sheep and Poultry: Prices Received, by States, April and May 1997 ------------------------------------------------------------------------------ : April : May :----------------------------------------------------------------------- State : Sheep : Lambs : Turkeys : Broilers: Eggs : 1/ : 1/ : 2/3/ : 1/4/ : 2/5/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Pound Dol/Doz : AL : .365 .480 AZ : AR : .42 .360 .500 CA : 37.00 97.00 .39 .375 .500 CO : 36.30 94.60 CT : .510 DE : .360 FL : .550 GA : .365 .514 ID : 35.50 89.00 IN : .42 .560 IA : 34.90 92.20 .46 .409 KS : 30.00 93.00 ME : .630 MD : .360 MI : .460 MN : 30.70 94.50 .41 .450 MS : .360 .550 MO : .42 .430 MT : 37.60 100.00 NE : 32.90 110.00 NM : NY : .607 NC : .40 .375 .442 OH : 32.50 116.00 .552 OR : 32.00 83.00 PA : .42 .370 .550 SC : .533 SD : 35.30 94.30 TX : 46.40 97.80 .370 .500 UT : 34.00 100.00 VA : .40 .350 WA : .530 WY : 37.00 102.20 : US : 37.60 96.60 .412 .364 .511 ------------------------------------------------------------------------------ 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. Milk and Milk Cows: Prices Received, by States, April and May 1997 ------------------------------------------------------------------------------ : April : May :----------------------------------------------------------------------- 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 : 15.10 3.51 15.10 3.51 15.00 3.49 AZ : 12.90 3.53 12.90 3.53 12.50 3.52 AR : 14.40 3.50 14.40 3.50 14.30 3.43 CA : 12.50 3.60 11.80 3.91 12.49 3.61 12.20 3.54 CO : 12.80 3.58 12.80 3.58 12.50 3.58 FL : 16.30 3.53 16.30 3.53 16.10 3.51 GA : 14.40 3.48 14.40 3.48 14.40 3.47 ID : 12.10 3.58 11.90 3.75 12.10 3.59 11.50 3.51 IL : 12.90 3.74 12.10 3.81 12.90 3.74 12.90 3.72 IN : 13.40 3.68 11.40 3.71 13.30 3.68 13.50 3.58 IA : 12.80 3.73 11.60 3.77 12.70 3.73 12.70 3.64 KS : 12.70 3.59 11.40 3.60 12.70 3.59 12.70 3.52 KY : 14.10 3.52 10.50 3.54 14.00 3.52 13.80 3.48 LA : 14.30 3.33 14.30 3.33 14.40 3.36 MD : 13.90 3.65 13.90 3.65 13.90 3.60 MI : 13.60 3.66 10.60 3.76 13.60 3.66 13.40 3.60 MN : 12.75 3.75 11.40 3.77 12.62 3.75 12.00 3.71 MS : 14.40 3.47 14.40 3.47 14.40 3.50 MO : 13.90 3.56 11.50 3.63 13.80 3.56 13.90 3.51 NE : 13.00 3.70 12.00 3.73 12.90 3.70 12.70 3.64 NM : 12.80 3.50 12.80 3.50 12.90 3.42 NY : 13.30 3.69 13.30 3.69 13.00 3.66 NC : 15.10 3.59 10.60 3.86 15.10 3.59 15.20 3.55 ND : 12.60 3.69 11.30 3.66 12.00 3.68 11.70 3.58 OH : 13.90 3.70 11.30 3.76 13.70 3.70 13.40 3.65 OK : 14.30 3.55 14.30 3.55 14.30 3.48 OR : 13.20 3.64 11.70 4.00 13.20 3.64 12.90 3.60 PA : 14.20 3.65 11.30 3.76 14.20 3.65 14.40 3.56 TN : 14.60 3.50 10.50 3.53 14.50 3.50 15.00 3.45 TX : 13.60 3.52 13.60 3.52 13.70 3.48 UT : 12.90 3.58 12.10 3.62 12.80 3.58 12.70 3.54 VT : 14.00 3.77 14.00 3.77 13.60 3.77 VA : 14.20 3.48 10.50 3.58 14.20 3.48 14.00 3.45 WA : 13.20 3.64 13.20 3.64 12.80 3.58 WI : 12.89 3.81 11.96 3.88 12.82 3.82 12.00 3.76 : US : 13.40 3.64 11.70 3.79 13.40 3.65 13.10 3.60 ------------------------------------------------------------------------------ 1/ Including milk diverted to manufacturing. 2/ Before deductions for hauling. 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, April and May 1997, with Comparisons ------------------------------------------------------------------------------ Item : May 1996 : Apr 1997 : May 1997 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 26.51 26.97 26.97 Average Price F.O.B.......Dol per Cwt : 13.40 11.70 2/11.20 Average Fat Test of Milk..Percent : 3.74 3.79 2/3.72 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 1997 is 90.8 percent of the parity price of all milk sold to plants, compared with 91.4 percent in 1996. For additional details, see January 1997 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 May 1997, with Comparisons 1/ ------------------------------------------------------------------------------- : : Parity Prices :Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :------------------------------------------ : Prices : May : Apr : May : May : Apr : May : : 1996 : 1997 : 1997 : 1996: 1997: 1997 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .623 9.35 9.58 9.58 61 43 43 Rice, Cwt : 1.69 25.70 26.00 26.00 38 39 38 Corn, Bu : .418 6.22 6.42 6.43 67 44 42 Cotton, Lb : American Upland : .112 1.72 1.72 1.72 45 39 39 Extra Long Staple : .150 2.30 2.31 2.31 Peanuts, Lb : .0430 .672 .661 .661 Tobacco, By Type, Lb : Flue-Cured 11-14 : .250 3.80 3.84 3.85 VA Fire-Cured, 21 : .233 3.48 3.58 3.58 KY-TN Fire-Cured, 22-23 : .303 4.51 4.66 4.66 Burley, 31 : .259 3.93 3.98 3.98 Maryland, 32 : .225 3.30 3.46 3.46 Dark Air-Cured, 35-36 : .253 3.74 3.89 3.89 Sun-Cured, 37 : .209 3.12 3.21 3.21 PA Seedleaf, 41 : .176 2.44 2.71 2.71 Cigar Filler & Binder, : 42-44, 54-55 .208 3.00 3.20 3.20 Puerto Rican Filler, 46 : .173 2.62 2.66 2.66 Cigar Binder, 51-52 : .429 5.64 6.59 6.60 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.93 29.00 29.70 29.70 2/50 2/46 2/45 Honey, Extracted, Lb : 3/.0859 1.23 1.32 1.32 : Wool and Mohair : Wool, Lb : .270 4.27 4.15 4.15 Mohair, Lb : .721 10.70 11.10 11.10 : Other Nonbasic : Barley, Bu : .381 5.64 5.86 5.86 61 39 40 Cottonseed, Ton : 15.30 225.00 235.00 235.00 Dry Edible Beans, Cwt : 3.28 49.30 50.40 50.40 50 45 47 Flaxseed, Bu : .748 11.20 11.50 11.50 55 56 54 Oats, Bu : .237 3.46 3.64 3.65 72 51 50 Potatoes, Cwt : .839 13.10 12.90 12.90 62 35 38 Rye, Bu : .303 4.25 4.66 4.66 Sorghum Grain, Cwt : .661 9.71 10.20 10.20 79 43 41 Soybeans, Bu : .901 13.40 13.80 13.90 57 60 61 Sweetpotatoes, Cwt : 1.25 20.40 19.20 19.20 Apples, Fresh, Lb 5/ : .0290 .433 .446 .446 51 36 33 Citrus (equiv on-tree),box: Grapefruit : .704 10.20 10.80 10.80 32 11 10/ Lemons : 1.15 18.60 17.70 17.70 36 15 58 Limes (FL) : 1.30 21.30 20.00 20.00 24 Oranges : .900 12.50 13.80 13.80 53 34 34 Tangerines : 1.90 29.40 29.20 29.20 26 27 Temples (FL) : .755 10.20 11.60 11.60 Beef Cattle, Cwt : 9.99 153.00 154.00 154.00 36 42 43 Calves, Cwt : 12.70 197.00 195.00 195.00 28 42 43 Hogs, Cwt : 6.79 104.00 104.00 104.00 55 52 56 Lambs, Cwt : 10.00 154.00 154.00 154.00 59 63 Sheep, Cwt : 4.06 61.90 62.40 62.40 41 60 Eggs, Doz : .0935 1.41 1.44 1.44 2/49 2/43 2/43 Turkeys, Live, Lb : .0573 .887 .881 .881 49 45 47 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for May 1997, 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 : : Peaches, cont. : Hops, Lb : .239 3.68 : Processing 6/ : Spearmint Oil, Lb: 1.91 29.40 : Excl Dried : Tobacco, Lb : : Clingstone, : Type 61 : 2.58 39.70 : CA, Ton : 30.80 474.00 : : Pears, Ton : Noncitrus Fruit : : Fresh 5/ : 50.20 772.00 Apples, Ton 7/ : : Dried, CA 7/ : 140.00 2150.00 Processing : 18.30 281.00 : Plums, CA, Ton : Apricots, Ton : : Fresh, Equiv : Fresh 8/ : 147.00 2260.00 : on-Tree : 53.60 824.00 Dried, CA : 309.00 4750.00 : Prunes, Dried, : Avocados, Ton 8/ : 141.00 2170.00 : CA, Ton 7/ : 122.00 1880.00 Cherries : : Prunes and Plums,: Sweet, Ton : 147.00 2260.00 : Excl CA, Ton : Tart, Lb : .0363 .558 : Fresh 10/ : 55.70 857.00 Cranberry, Bbl 6/: 7.10 109.00 : Processing 7/ : Dates, CA, Ton 8/: 130.00 2000.00 : Excl Dried : 21.10 325.00 Grapes, Ton : : : Raisin Variety : 137.00 2110.00 :Tree Nuts 11/ : Other Dried : 52.60 809.00 : Almonds, Lb : .212 3.26 Kiwifruit, Ton : 84.80 1300.00 : Hazelnuts, Ton : 116.00 1780.00 Nectarines : : Pistachio, Lb : .173 2.66 Fresh, Calif, : : Walnuts, Ton : 148.00 2280.00 Ton 8/ : 61.60 947.00 : : Olives, CA : :Vegetables, Cwt 12/: Canning, Ton 6/: 93.70 1440.00 : Fresh : Papayas (HA) Lb : .0410 .631 : Carrots 9/ : 1.55 23.80 Peaches : : Cauliflower 9/ : 4.18 64.30 Fresh, Lb 5/ : .0401 .617 : Celery 9/ : 1.83 28.10 Dried, CA, : : Honeydew Melons : 2.40 36.90 Ton : 131.00 2010.00 : Lettuce : 2.14 32.90 : : Onions 9/ : 1.71 26.30 : : Tomatoes : 4.33 66.60 ------------------------------------------------------------------------------- 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 "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. Tobacco: Marketing Year Average Price, by Type, State and United States, 1995-96 1/ ------------------------------------------------------------------------------ : : : Cure, Area, and State : Type : 1995 : 1996 : : : ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : 1.805 1.860 VA : 11 : 1.807 1.871 US : 11 : 1.806 1.864 Eastern NC Belt : : NC : 12 : 1.800 1.830 NC Border & SC Belt : : NC : 13 : 1.768 1.810 SC : 13 : 1.779 1.822 US : 13 : 1.775 1.817 GA-FL Belt : : FL : 14 : 1.761 1.808 GA : 14 : 1.759 1.813 US : 14 : 1.759 1.812 Total Flue-cured : 11-14 : 1.790 1.834 : : Fire-cured: : : VA Belt : : VA : 21 : 1.640 1.790 Eastern District : : KY : 22 : 2.178 2.246 TN : 22 : 2.185 2.252 US : 22 : 2.183 2.250 Western District : : KY : 23 : 2.145 2.233 TN : 23 : 2.154 2.227 US : 23 : 2.146 2.232 KY-TN Fire-cured : 22-23 : 2.172 2.245 Total Fire-cured : 21-23 : 2.151 2.227 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.860 1.920 KY : 31 : 1.857 1.922 MO : 31 : 1.834 1.918 NC : 31 : 1.843 1.920 OH : 31 : 1.861 1.926 TN : 31 : 1.845 1.920 VA : 31 : 1.843 1.920 WV : 31 : 1.855 1.923 US : 31 : 1.854 1.922 Southern MD Belt : : MD : 32 : 1.670 1.920 PA : 32 : 1.400 1.750 US : 32 : 1.573 1.856 Total Light Air-cured : 31-32 : 1.843 1.920 : : Dark Air-cured: : : One-Sucker Belt : : KY : 35 : 1.774 1.945 TN : 35 : 1.756 1.915 US : 35 : 1.771 1.940 Green River Belt : : KY : 36 : 1.745 1.979 KY-TN Dark Air-cured : 35-36 : 1.762 1.953 ------------------------------------------------------------------------------ See footnotes at end of table. -- continued Tobacco: Marketing Year Average Price, by Type, State and United States, 1995-96 1/ (continued) ------------------------------------------------------------------------------ : : : Cure, Area, and State : Type : 1995 : 1996 : : : ------------------------------------------------------------------------------ : : Dollars per Pound : : VA Sun-cured Belt : : VA : 37 : 1.555 1.782 Total Dark Air-cured : 35-37 : 1.761 1.951 : : All Cures Other Than Cigar : 11-37 : 1.821 1.877 : : : : Cigar Filler: : : PA Seedleaf : : PA : 41 : 1.450 1.550 : : Cigar Binder: : : CT Valley Broadleaf : : CT : 51 : 3.850 6.200 MA : 51 : 4.050 6.550 US : 51 : 3.890 6.280 WI Binder, Southern : : WI : 54 : 1.450 1.480 WI Binder, Northern : : WI : 55 : 1.450 1.500 Total WI Binder : 54-55 : 1.450 1.486 Total Binder : 51-55 : 2.137 3.214 : : Cigar Wrapper: : : CT Valley Shade-grown : : CT 2/ : 61 : MA 2/ : 61 : US 2/ : 61 : : : Total Cigar Types 2/ : 41-55 : 1.783 2.318 : : US All Tobacco 2/ : 11-55 : 1.820 1.882 ------------------------------------------------------------------------------ 1/ 1996 revised; 1995 VA Types 21 and 37 revised. 2/ CT and MA Type 61 price not published to avoid disclosure; not included in Total Cigar Types or US All Tobacco. Tobacco: Marketing Year Average Price, by State, 1995-96 1/ ------------------------------------------------------------------------------ State : 1995 : 1996 : State : 1995 : 1996 ------------------------------------------------------------------------------ : Dollars per Pound : : Dollars per Pound : : : CT 2/ : 3.850 6.200 : NC : 1.798 1.838 FL : 1.761 1.808 : OH : 1.861 1.926 GA : 1.759 1.813 : PA : 1.429 1.629 IN : 1.860 1.920 : SC : 1.779 1.822 KY : 1.872 1.940 : TN : 1.912 1.982 MD : 1.670 1.920 : VA : 1.810 1.878 MA 2/ : 4.050 6.550 : WV : 1.855 1.923 MO : 1.834 1.918 : WI : 1.450 1.486 ------------------------------------------------------------------------------ 1/ 1996 revised; 1995 VA revised. 2/ CT and MA Type 61 not published to avoid disclosure. Tobacco: Prices Received Monthly, by State and United States, July 1995 - April 1996 ------------------------------------------------------------------------ : 1995 : 1996 State :--------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr ------------------------------------------------------------------------ : Dollars per Pound : FL : 1.570 1.775 1.840 1.775 GA : 1.595 1.765 1.830 1.805 IN : 1.845 1.850 1.875 1.865 KY : 1.845 1.850 1.895 1.990 1.855 1.635 MD : 1.670 MO : 1.825 1.805 1.850 NC : 1.795 1.765 1.830 1.810 1.835 1.850 1.855 OH : 1.845 1.850 1.875 1.885 SC : 1.725 1.750 1.830 1.805 TN : 1.840 1.845 1.980 2.205 1.890 1.485 VA : 1.835 1.775 1.835 1.815 1.840 1.790 1.820 WV : 1.840 1.850 1.880 : US : 1.755 1.765 1.830 1.810 1.840 1.845 1.900 2.060 1.745 1.605 ------------------------------------------------------------------------ Tobacco: Prices Received Monthly, by State and United States, July 1996 - April 1997 1/ ------------------------------------------------------------------------ : 1996 : 1997 State :--------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr 2/ ------------------------------------------------------------------------ : Dollars per Pound : FL : 1.585 1.735 1.895 1.915 GA : 1.590 1.740 1.895 1.915 IN : 1.920 1.920 1.920 1.915 KY : 1.925 1.925 1.930 1.905 1.925 MD : 1.920 MO : 1.920 1.920 1.910 NC : 1.605 1.745 1.885 1.905 1.920 1.920 1.915 OH : 1.925 1.925 1.925 1.915 SC : 1.600 1.740 1.895 1.915 TN : 1.920 1.920 1.935 1.940 1.955 VA : 1.745 1.885 1.920 1.920 1.910 1.900 WV : 1.925 1.925 1.920 : US : 1.600 1.745 1.890 1.910 1.925 1.925 1.930 1.910 1.930 ------------------------------------------------------------------------ 1/ Revised. 2/ Insufficient sales to establish a price. Tobacco: Prices Received Monthly by Type, State and United States, July 1995 - April 1996 ------------------------------------------------------------------------------ : : 1995 Cure, Area, and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : 1.830 1.770 1.830 1.815 VA : 11 : 1.835 1.775 1.835 1.815 US : 11 : 1.830 1.770 1.830 1.815 Eastern NC Belt : : NC : 12 : 1.800 1.765 1.835 1.815 NC Border & SC Belt : : NC : 13 : 1.695 1.745 1.825 1.780 SC : 13 : 1.725 1.750 1.830 1.805 US : 13 : 1.710 1.750 1.825 1.800 GA-FL Belt : : FL : 14 : 1.570 1.775 1.840 1.775 GA : 14 : 1.595 1.765 1.830 1.805 US : 14 : 1.590 1.765 1.830 1.795 Total Flue-cured : 11-14: 1.755 1.765 1.830 1.810 : : Fire-cured: : : VA Belt : : VA : 21 : 1.635 Eastern District : : KY : 22 : TN : 22 : US : 22 : Western District : : KY : 23 : TN : 23 : US : 23 : KY-TN Fire-cured : 22-23: Total Fire-cured : 21-23: 1.635 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.845 1.850 KY : 31 : 1.845 1.850 MO : 31 : 1.825 1.805 NC : 31 : 1.835 1.850 OH : 31 : 1.845 1.850 TN : 31 : 1.840 1.845 VA : 31 : 1.840 1.845 WV : 31 : 1.840 1.850 US : 31 : 1.840 1.850 Southern MD Belt : : MD : 32 : Total Light Air-cured : 31-32: 1.840 1.850 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 1.880 TN : 35 : 1.770 US : 35 : 1.865 Green River Belt : : KY : 36 : 1.810 KY-TN Dark Air-cured : 35-36: 1.845 VA Sun-cured Belt : : VA : 37 : 1.540 Total Dark Air-cured : 35-37: 1.840 : : Total All Cures : 11-37: 1.755 1.765 1.830 1.810 1.840 1.845 ------------------------------------------------------------------------------ -- continued Tobacco: Prices Received Monthly by Type, State and United States, July 1995 - April 1996 (continued) ------------------------------------------------------------------------------ : : 1996 Cure, Area, and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : VA : 11 : US : 11 : Eastern NC Belt : : NC : 12 : NC Border & SC Belt : : NC : 13 : SC : 13 : US : 13 : GA-FL Belt : : FL : 14 : GA : 14 : US : 14 : Total Flue-cured : 11-14: : : Fire-cured: : : VA Belt : : VA : 21 : 1.560 Eastern District : : KY : 22 : 2.390 2.230 1.915 1.635 TN : 22 : 2.350 2.225 1.895 1.485 US : 22 : 2.365 2.230 1.900 1.605 Western District : : KY : 23 : 2.290 2.050 1.635 TN : 23 : 2.310 2.070 1.660 US : 23 : 2.295 2.050 1.640 KY-TN Fire-cured : 22-23: 2.330 2.185 1.875 1.605 Total Fire-cured : 21-23: 2.315 2.185 1.875 1.605 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.875 1.865 KY : 31 : 1.875 1.875 MO : 31 : 1.850 NC : 31 : 1.855 OH : 31 : 1.875 1.885 TN : 31 : 1.860 1.840 VA : 31 : 1.855 WV : 31 : 1.880 US : 31 : 1.870 1.875 Southern MD Belt : : MD : 32 : 1.670 Total Light Air-cured : 31-32: 1.870 1.875 1.670 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 1.745 1.440 TN : 35 : 1.765 1.610 US : 35 : 1.750 1.470 Green River Belt : : KY : 36 : 1.705 1.460 KY-TN Dark Air-cured : 35-36: 1.735 1.470 VA Sun-cured Belt : : VA : 37 : 1.445 Total Dark Air-cured : 35-37: 1.735 1.470 : : Total All Cures : 11-37: 1.900 2.060 1.745 1.605 ------------------------------------------------------------------------------ Tobacco: Prices Received Monthly by Type, State and United States, July 1996 - April 1997 1/ ------------------------------------------------------------------------------ : : 1996 Cure, Area, and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : 1.735 1.880 1.910 VA : 11 : 1.745 1.885 1.920 US : 11 : 1.740 1.880 1.915 Eastern NC Belt : : NC : 12 : 1.610 1.750 1.890 1.910 NC Border & SC Belt : : NC : 13 : 1.595 1.740 1.890 1.900 SC : 13 : 1.600 1.740 1.895 1.915 US : 13 : 1.600 1.740 1.890 1.910 GA-FL Belt : : FL : 14 : 1.585 1.735 1.895 1.915 GA : 14 : 1.590 1.740 1.895 1.915 US : 14 : 1.590 1.740 1.895 1.915 Total Flue-cured : 11-14: 1.600 1.745 1.890 1.910 : : Fire-cured: : : VA Belt : : VA : 21 : 1.795 Eastern District : : KY : 22 : TN : 22 : US : 22 : Western District : : KY : 23 : TN : 23 : US : 23 : KY-TN Fire-cured : 22-23: Total Fire-cured : 21-23: 1.795 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.920 1.920 KY : 31 : 1.925 1.925 MO : 31 : 1.920 1.920 NC : 31 : 1.920 1.920 OH : 31 : 1.925 1.925 TN : 31 : 1.920 1.920 VA : 31 : 1.920 1.920 WV : 31 : 1.925 1.925 US : 31 : 1.925 1.920 Southern MD Belt : : MD : 32 : Total Light Air-cured : 31-32: 1.925 1.920 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 1.990 TN : 35 : 1.990 US : 35 : 1.990 Green River Belt : : KY : 36 : 2.000 KY-TN Dark Air-cured : 35-36: 1.995 VA Sun-cured Belt : : VA : 37 : 1.790 Total Dark Air-cured : 35-37: 1.990 : : Total All Cures : 11-37: 1.600 1.745 1.890 1.910 1.925 1.925 ------------------------------------------------------------------------------ See footnotes at end of table. -- continued Tobacco: Prices Received Monthly by Type, State and United States, July 1996 - April 1997 1/ (continued) ------------------------------------------------------------------------------ : : 1997 Cure, Area, and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr 2/ ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : VA : 11 : US : 11 : Eastern NC Belt : : NC : 12 : NC Border & SC Belt : : NC : 13 : SC : 13 : US : 13 : GA-FL Belt : : FL : 14 : GA : 14 : US : 14 : Total Flue-cured : 11-14: : : Fire-cured: : : VA Belt : : VA : 21 : 1.730 Eastern District : : KY : 22 : 2.410 2.195 1.905 TN : 22 : 2.335 2.245 1.955 US : 22 : 2.365 2.225 1.935 Western District : : KY : 23 : 2.275 2.145 1.940 TN : 23 : 2.275 2.145 1.940 US : 23 : 2.275 2.145 1.935 KY-TN Fire-cured : 22-23: 2.320 2.195 1.935 Total Fire-cured : 21-23: 2.245 2.195 1.935 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.920 1.915 KY : 31 : 1.925 1.900 MO : 31 : 1.910 NC : 31 : 1.915 OH : 31 : 1.925 1.915 TN : 31 : 1.920 1.920 VA : 31 : 1.920 WV : 31 : 1.920 US : 31 : 1.920 1.900 Southern MD Belt : : MD : 32 : 1.920 Total Light Air-cured : 31-32: 1.920 1.900 1.920 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 1.870 1.675 TN : 35 : 1.850 1.625 US : 35 : 1.865 1.665 Green River Belt : : KY : 36 : 1.935 KY-TN Dark Air-cured : 35-36: 1.900 1.665 VA Sun-cured Belt : : VA : 37 : 1.500 Total Dark Air-cured : 35-37: 1.890 1.665 : : Total All Cures : 11-37: 1.930 1.910 1.930 ------------------------------------------------------------------------------ 1/ Revised. 2/ Insufficient sales to establish a price. 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". Reliability:U.S. price estimates based on probability surveys generally have a sampling error of less than one percent for the major commodities such as corn, wheat, soybeans, cotton, and rice. Current methods of summarization for non-probability commodities are not designed directly to calculate sampling errors. However, analytical measures approximate the U.S. relative sampling errors at around five 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. Prices Paid The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 117 (1990-92=100), unchanged from April but 1.7 percent higher than May 1996. Production Index: The farm production, goods, and services index for May 1997, at 117, was the same as a month earlier but 1.7 percent higher than May last year. Since April 1997, higher prices for feeder cattle and calves were offset by slightly lower feeder pig, and feed prices. Livestock and Poultry: The index for livestock and poultry purchases was 95, up 2.2 percent from last month and up 36 percent from last May. Higher May 1997 feeder cattle and calf prices were partially offset by lower feeder pig prices. Feed: At 128, the feed index was unchanged from April but fell 7.2 percent from May 1996. Lower corn, oat, and grain sorghum prices during May were offset by price increases for barley and hay. Fuels: The fuel index, at 105, was the same as April but down 0.9 percent from a year ago. LP gas prices were down in May while gasoline prices were up marginally from a month earlier. Consumer Price Index: The April 1997 Consumer Price Index for all urban consumers (CPI-U) increased 0.1 percent before seasonal adjustment to a level of 160.2 (1982-84=100). This compares to the March index of 160.0. For the 12-month period ending in April, the overall index increased 2.5 percent. Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, May 1997 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 1996 : 1997 : 1996 : 1997 Ratios :---------------------------------------------- : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1509 *1536 1538 115 117 117 Production : 1120 1135 1137 115 117 117 Feed : 673 *624 622 138 128 128 Livestock and Poultry : 891 *1192 1219 70 *93 95 Seeds : 1161 1186 1186 117 120 120 Fertilizer : 463 454 454 126 124 124 Agricultural Chemicals : 728 737 737 118 119 119 Fuels : 819 807 807 106 105 105 Supplies & Repairs : 815 829 829 115 117 117 Autos & Trucks : 2862 *2918 2918 108 110 110 Farm Machinery : 3116 3194 3194 124 127 127 Building Material : 1568 *1603 1603 115 118 118 Farm Services & Rent : 1406 *1402 1402 Farm Services : 117 117 117 Rent : 119 119 119 Interest 1/ : 2643 2659 2659 105 106 106 Taxes 2/ : 3001 3093 3093 112 *115 115 Wage Rates : 4366 *4586 4586 117 *123 123 Production, Interest, Taxes, : & Wage Rates (PITW) : 1542 *1562 1564 115 117 117 Family Living-CPI 3/ : 1489 *1523 1523 116 119 119 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 97 91 91 Parity Ratio 4/ : 47 44 44 Parity Ratio Adjusted 5/ : 49 46 46 PPITW Adjusted for : Productivity 6/ : 1016 *1048 1048 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 116 118 118 Livestock Sector (PPITW) : 114 116 116 -------------------------------------------------------------------------------- Farm Sector (Production) : 111 115 115 Non-Farm Sector (Production) : 118 118 118 -------------------------------------------------------------------------------- * 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 1.039 for 1997 and the revised factor is 1.039 for 1996. 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, May 1997 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :----------------------------- Index : 5-Year Moving Average : 1996 : 1997 :----------------------------------------------------- : 1996 : 1997 : May : Apr : May -------------------------------------------------------------------------------- : ---- Percent --- ---- (1990-92=100) ---- : Production Items : 66.1 66.8 115 117 117 : Feed : 11.2 11.3 138 128 128 Complete Feeds : 4.9 5.0 132 126 126 Feed Grains : 2.1 2.0 179 *118 114 Hay/Forages : 1.2 1.3 123 142 146 Concentrates : 1.8 1.8 122 135 135 Supplements : 1.2 1.2 132 127 127 Livestock & Poultry : 8.3 7.9 70 *93 95 Feeder Cattle : 6.4 6.2 64 88 91 Milk Cow Replacements : .7 .6 95 98 99 Feeder Pigs : .7 .6 73 136 129 Poultry : .5 .5 104 *100 100 Seeds : 2.7 2.7 117 120 120 Field Crops : 2.4 2.5 117 119 119 Grasses/Legumes : .3 .2 120 130 130 Fertilizer : 4.6 4.7 126 124 124 Mixed Fertilizer : 2.0 2.1 122 118 118 Nitrogen : 1.9 2.0 137 135 135 Potash & Phosphate : .5 .6 108 110 110 Agricultural Chemicals : 3.4 3.6 118 119 119 Herbicides : 2.1 2.3 116 116 116 Insecticides : .8 .8 125 129 129 Fungicides/Other : .5 .5 115 118 118 Fuels : 2.9 2.8 106 105 105 Diesel : 1.6 1.5 104 100 100 LP Gas : .3 .3 99 107 107 Gasoline : 1.0 1.0 111 111 111 Farm Supplies & Repairs : 5.4 5.7 115 117 117 Supplies : 1.8 1.9 113 114 114 Repairs : 3.6 3.8 116 118 118 Autos & Trucks : 1.4 1.3 108 110 110 Autos : .2 .2 105 106 106 Trucks : 1.2 1.1 108 *110 110 Farm Machinery : 4.5 4.2 124 127 127 Self-Propelled : 1.8 1.7 128 127 127 Tractors : 1.0 .9 120 125 125 Other Machinery : 1.7 1.6 123 129 129 Building Materials : 2.5 2.6 115 118 118 Farm Services : 11.2 11.9 117 117 117 Custom Rates : 1.1 1.2 113 111 111 Other Services : 10.1 10.7 118 *117 117 Rent : 8.0 8.0 119 119 119 Cash : 3.6 3.6 129 129 129 Share : 4.4 4.4 111 111 111 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios: United States, May 1997 With Comparisons ------------------------------------------------------------------------------ : 1996 : 1997 Feed Price Ratio 1/ :---------------------------- : May : Apr : May ------------------------------------------------------------------------------ : Broiler-Feed: Pounds of Broiler Grower equal in : value to 1 pound of broiler, live weight : 3.9 *4.3 4.2 Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs : 6.5 *7.4 7.2 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 13.7 *19.2 21.6 Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.09 *2.17 2.12 : Steer-Heifer-Feed-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight : 13.9 24.3 25.7 Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 4.6 5.0 5.3 ------------------------------------------------------------------------------- 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. Prices Used to Calculate Feed Price Ratios United States, May 1997 With Comparisons ------------------------------------------------------------------------------- : : 1996 : 1997 Commodity : Unit :----------------------------------------------- : : May : Apr : May ------------------------------------------------------------------------------- Broilers, Live : Lb : .378 .371 .364 Eggs, Market : Doz : .569 .532 .511 : : Hogs, All : Cwt : *56.80 *53.80 58.00 Milk, All : Cwt : 14.30 *13.40 13.10 : : Steers and Heifers : Cwt : 57.60 *67.90 68.80 Turkeys, Live : Lb : .432 *.395 .412 : : Corn : Bu : 4.14 *2.80 .268 Hay, Alfalfa, Baled : Ton : 100.00 123.00 127.00 : : Soybeans : Bu : 7.69 *8.23 8.42 Wheat, All : Bu : 5.75 *4.11 4.09 ------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States, May 1997 With Comparisons ------------------------------------------------------------------------------- : : 1996 : 1997 ITEM : Unit :------------------------------------------- : : May : Apr : May ------------------------------------------------------------------------------- : : Dollars Feeders and Stockers : : Cattle and Calves : Cwt : 54.30 74.40 77.20 : : Feeder Pigs : " : 67.00 125.00 119.00 ------------------------------------------------------------------------------- Replacement Poultry: Prices Paid and Value of Production, United States, 1993-96 ------------------------------------------------------------------------------- Item : Unit : 1993 : 1994 : 1995 : 1996 ------------------------------------------------------------------------------- : : Dollars : : Replacement Poultry : : : : Broiler-Type Chicks :Per 100: 18.60 19.30 18.60 18.60 : : Egg-Type Chicks :Per 100: 53.80 49.70 49.80 50.20 : : Turkey Poults : Each : 1.05 1.06 1.06 1.10 : : : : Value of Hatchery : : Production : : 1,000 Dollars : : All Chicks : -- : 1,369,893 1,557,276 1,577,782 1,605,409 : : All Poults : -- : 323,149 336,486 340,748 358,558 -------------------------------------------------------------------------------- Feed Price Ratios, Monthly, United States, January 1994 - May 1997 1/ ------------------------------------------------------------------------------- : : : : : : : : : : : : : Year : Jan : Feb : Mar : Apr : May :Jun : Jul : Aug: Sep : Oct: Nov : Dec : Avg : : : : : : : : : : : : : 2/ ------------------------------------------------------------------------------- : Broiler-Feed Ratio 3/ : 1994 : 4.5 4.5 4.7 4.8 5.1 5.1 5.6 5.7 5.8 5.8 5.6 5.4 5.2 1995 : 5.3 5.3 5.2 5.1 5.0 5.0 5.1 5.5 5.5 5.1 5.0 4.6 5.2 1996 : 4.7 4.2 4.0 3.8 3.9 4.3 4.1 4.1 4.4 5.0 5.3 5.4 4.4 1997 : 5.2 4.9 4.5 4.3 4.2 : : Market Egg-Feed Ratios 4/ : 1994 : 7.9 8.0 8.4 7.7 8.6 6.9 8.0 9.0 9.2 8.9 10.3 10.2 8.6 1995 : 9.4 9.3 9.0 8.9 7.5 7.6 8.0 8.5 8.9 8.7 10.1 7.3 8.6 1996 : 9.8 8.7 9.1 7.9 6.5 6.7 6.3 6.9 8.1 9.3 11.3 10.8 8.5 1997 :10.0 9.9 8.6 7.4 7.2 : : Turkey-Feed Ratio 5/ : 1994 : 5.4 5.4 5.5 5.8 5.9 6.1 6.9 7.4 7.4 7.9 7.9 7.3 6.6 1995 : 6.8 6.4 6.5 6.4 6.3 6.3 6.0 6.3 6.4 6.4 6.5 5.7 6.3 1996 : 5.3 5.2 5.1 4.8 4.6 4.9 4.9 4.7 5.3 6.1 6.4 6.1 5.3 1997 : 5.4 5.0 5.0 5.0 5.3 : : Milk-Feed Ratio 6/ : 1994 : 2.61 2.51 2.52 2.51 2.36 2.42 2.61 2.72 2.81 2.92 2.96 2.81 2.65 1995 : 2.77 2.73 2.71 2.60 2.51 2.46 2.39 2.50 2.55 2.60 2.69 2.55 2.59 1996 : 2.59 2.42 2.35 2.17 2.09 2.18 2.21 2.30 2.65 2.94 2.82 2.64 2.45 1997 : 2.40 2.35 2.26 2.17 2.12 : : : Hog-Corn Ratio 7/ : 1994 :16.1 17.2 16.2 16.1 16.4 16.4 18.4 19.4 16.2 15.4 14.1 14.5 16.4 1995 :16.8 17.5 16.4 15.1 15.3 16.8 17.6 18.5 18.0 16.4 13.9 14.2 16.4 1996 :13.8 13.8 13.9 12.9 13.7 13.4 13.2 13.9 15.4 19.2 20.5 21.1 15.4 1997 :20.0 19.6 17.7 19.2 21.6 : : Steer & Heifer-Corn Feed Ratio 7/ : 1994 :27.0 26.2 27.5 28.5 26.8 24.8 28.4 31.6 30.2 32.1 34.4 31.9 29.1 1995 :32.6 32.2 30.6 28.2 26.3 25.2 23.5 23.5 23.0 22.3 22.7 21.1 25.9 1996 :20.3 18.1 17.2 15.1 13.9 14.2 14.0 15.0 19.1 23.6 25.8 24.9 18.4 1997 :24.2 24.2 24.3 24.3 25.7 -------------------------------------------------------------------------------- 1/ Quarterly commercial feed surveys discontinued in January 1995, comparable feeds based on US prices for Corn, Alfalfa Hay, Soybeans, and All Wheat. 2/ Simple average of monthly ratios, January through December. 3/ Broiler Feed: Ration composition per 100 pounds: Corn-58 pounds, Soybeans- 42 pounds. 4/ Market Egg Feed: Corn-75 pounds, Soybeans-25 pounds. 5/ Turkey Feed: Corn-51 pounds, Soybeans-28 pounds, All Wheat-21 pounds. 6/ Milk Feed, 16%: Corn-51 pounds, Soybean-8 pounds, Alfalfa Hay-41 pounds. 7/ Price of (100 pounds Liveweight 1 bushel of Corn). 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 Cottonseed............. A-15 Price Indexes............ A-3 Cows, Beef............. A-18 Prices Received Cows, Milk............. A-21 U.S. Summary........... A-6-7 Eggs................... A-20 Selected Commodities... A-12 Flaxseed............... A-14 Upland Cotton and Rice: Fruit, Citrus.......... A-16 Prices and Marketings.. A-15 Hay.................... A-15 Parity Prices............ A-22-23 All Hogs............... A-19 Reliability Statement.... A-31 Lambs.................. A-20 Milk................... A-21 Monthly State Prices Oats................... A-13 Peanuts................ A-14 Apples................... A-15 Potatoes............... A-17 Barley................... A-13 Sheep.................. A-20 Barrows and Gilts........ A-19 Sorghum, Grain......... A-13 Beans, Dry Edible........ A-14 Soybeans............... A-13 Beef Cattle.............. A-18 Sows................... A-19 Broilers................. A-20 Steers and Heifers..... A-18 Calves................... A-18 Tobacco................ A-14 Corn..................... A-13 Turkeys................ A-20 Cotton................... A-15 Wheat.................. A-12 Special Features Tobacco: Marketing Year Average, by Type, State, and U.S., 1995-96 .............................................. A-24-25 Tobacco: Revised Monthly Prices, All Types by State and U.S., 1995-97 .............................................. A-26 Tobacco: Revised Monthly Prices, by Type, State, and U.S., 1995-97 .............................................. A-27-30 Index Prices Paid Page Narrative .................................................. B-1 Indexes and Parity Ratios .................................. B-2-3 Charts ..................................................... B-4-6 Feed Ratios ................................................ B-7 Commodity Prices Used in Feed Price Ratios ................. B-7 Reliability Statement ....................................... B-10 U.S. Average Prices: Feeder Livestock ........................................ B-8 Special Features Feed: Price Ratios, January 1994 - May 1997 ................. B-9 Replacement Poultry, Annual Average Prices and Value .......... B-8 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 Rhonda Brandt - Oats (202) 720-7621 Barbara Rater - Peanuts, Rice (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 (202) 720-7235 Dave Mueller - Vegetables (202) 720-2157 Linda Simpson - Dry Beans, Peaches, Pears (202) 690-0270 Vince Matthews - Citrus (202) 720-3843 Debbie Williams - Apples, Tobacco, Strawberries (202) 720-4288 Commodity Prices Coordinator Charles Van Lahr (202) 720-5446 Kirby Cavett - Prices Received Indexes (202) 690-3237 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, Milk (202) 690-3236 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, Honey (202) 690-4870 Farm Inputs Section (Prices Paid) Douglas Kleweno, Head (202) 720-4214 Greg Thessen - 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 June 27, 1997. 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