HDR1012000120010627971500 Agricultural Prices Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released June 27, 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-12. Prices Received Index Drops 1 Point The All Farm Products Index of Prices Received in June was 107 based on 1990-92=100, down 1 point (0.9 percent) from May. Price decreases from May for cattle, milk, wheat, and cantaloupes more than offset price increases for lettuce, strawberries, lemons, and broilers. The seasonal changes in the mix of commodities farmers sell also affect the overall index level. Higher seasonal marketings of wheat, grapes, hay, and cantaloupes more than offset the relatively lower marketings of oranges, tomatoes, strawberries, and cattle. These changes in marketings limited the decline in the index. Compared with June 1996, the All Farm Products Index was 11 points (9.3 percent) lower. Price decreases from June 1996 for corn, wheat, milk, and broilers more than offset price increases for cattle, soybeans, hay, and calves. Prices Paid Index Unchanged The June 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 May but 2 points (1.7 percent) above June 1996. Since May 1997, higher prices for feed concentrates, complete feeds, feeder cattle, and herbicides were offset by lower hay, feed grain, fuel, feeder pig, and fertilizer prices. Index Summary Table ----------------------------------------------------------------------------- : 1996 : 1997 Index :----------------------------------------------------- 1990-92=100 : May : June : May : June ----------------------------------------------------------------------------- : : : : Prices Received : 112 : 118 : 108 : 107 : : : : Prices Paid : 115 : 115 : 117 : 117 : : : : Ratio 1/ : 97 : 103 : 92 : 91 ----------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Pr 1 (6-97) Prices Received by Farmers The June All Farm Products Index was 107 percent of its 1990-92 base, down 0.9 percent from May and down 9.3 percent from June 1996. All Crops: The June index was 118, up 0.9 percent from May but 16 percent below June 1996. From May, price increases for fruits and cotton more than offset price decreases for feed grains and hay, food grains, and oilseeds. Feed Grains & Hay: The June index was 119, down 4.0 percent from last month and 28 percent below June 1996. The corn price, at $2.56 per bushel, was down 13 cents from May and was $1.64 below the June 1996 price. The all hay price, at $108.00 per ton, was down $10.00 from May. Oil-Bearing Crops: The June index, at 146, was down 2.0 percent from May but 9.8 percent above June 1996. Soybean prices, at $8.22 per bushel, decreased 18 cents from May. Food Grains: The June index, at 125, was down 10 percent from the previous month, and 29 percent below June 1996. The June all wheat price, at $3.66 per bushel, was down 43 cents from May and $1.59 below the June 1996 price. Fruit and Nuts: The June all fruit and nuts index, at 120, increased 17 percent from the previous month but was 12 percent below June 1996. Higher prices from last month for strawberries, lemons, grapefruit, and pears accounted for the increase. Potatoes and Dry Beans: The June index, at 90, was down 4.3 percent from May and 35 percent below June 1996. The June potato price, at $4.96 per cwt, was down 23 cents from May and $3.18 per cwt below June 1996. Potato prices rose in May due to shortages of chip potatoes. Old crop supplies caused the June price to decline from May. New crop prices are improving. Livestock and Products: The June index, at 98, was down 2.0 percent from both May and June 1996. Prices received for milk, broilers, eggs, and turkeys were down from a year ago, while prices increased for cattle, calves, and hogs. Meat Animals: The June index, at 93, was down 4.1 percent from May but 9.4 percent above June 1996. The June beef cattle price, at $61.90 per cwt, was down $3.20 from last month but up $5.50 from a year earlier. The June hog price of $57.20 was down $1.00 from May but 80 cents higher than a year ago. Fed cattle and beef cow prices were lower because of large cattle on feed supplies and lack of consumer demand generated by fast food promotions. Hog prices were down slightly because slaughter has picked up and the expected foreign trade potential has not materialized. Dairy Products: The June index at 96, was down 4.0 percent from May and 15 percent below a year ago. The June all milk price, at $12.60 per cwt, was down 40 cents from May, and $2.20 below last year. Milk production continues to be strong with May production up 2.1 percent over last year. Cheese prices continue near their lowest level of the year. Poultry and Eggs: The June index, at 111, was unchanged from May but 9.0 percent below a year ago. The June broiler price at 37.4 cents per pound increased 1.0 cent from May. Market egg prices decreased 5.7 cents to 45.4 cents per dozen. Turkeys increased 0.3 cents to 41.5 cents per pound. Broiler prices reflect a seasonal increase as demand picks up in the summer. Market egg prices are reflecting increasing supplies as May production was 3 percent above a year earlier. Index Numbers of Prices Received, United States, June 1997, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 1996 : 1997 : 1996 : 1997 :Average:---------------------------------------------- :1990-92: Jun : May : Jun : Jun : May : Jun ------------------------------------------------------------------------------- : All Farm Products : 639 750 *684 681 118 *108 107 : All Crops : 500 692 *577 583 140 117 118 Food Grains : 325 556 *442 396 175 *139 125 Feed Grains & Hay : 363 591 *443 427 165 124 119 Cotton : 517 650 *576 590 127 *112 115 Tobacco 1/ : 1263 Oil-Bearing Crops : 554 726 *817 796 133 *149 146 Fruit & Nuts : 716 957 *720 837 137 *103 120 Commercial Vegetables : 698 766 *728 730 115 *109 109 Potatoes & Dry Beans : 540 704 *474 454 139 *94 90 Other Crops : 493 532 532 532 108 108 108 : Livestock & Products : 768 765 *769 750 100 100 98 Meat Animals : 1021 869 *981 944 85 97 93 Dairy Products : 799 910 *799 774 113 100 96 Poultry & Eggs : 282 344 *312 313 122 *111 111 : Food Commodities : 114 106 106 ------------------------------------------------------------------------------- * Revised. 1/ 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 : 109 108 128 117 94 99 114 117 114 116 Apr : 108 107 128 115 93 100 114 117 114 117 May : 112 108 131 117 97 100 115 117 115 117 Jun : 118 107 140 118 100 98 115 117 115 117 Jul : 119 136 102 115 116 Aug : 118 133 104 115 116 Sep : 116 125 105 116 116 Oct : 112 119 103 115 115 Nov : 111 118 102 115 114 Dec : 110 116 103 115 115 ------------------------------------------------------------------------------ Prices Received, United States, June 1997, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Jun : May : Jun : : : 1996 : 1997 : 1997 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 3.55 2.31 2.30 Feed : Bu : 1.90 3.58 2.33 2.25 Malting : Bu : 2.43 3.51 2.30 2.36 Beans, Dry Edible : Cwt : 19.10 25.80 22.60 21.30 Corn : Bu : 2.30 4.20 2.69 2.56 Cotton, Upland : Lb : .606 .769 .681 .698 Cottonseed : Ton : 96.00 : : Flaxseed : Bu : 4.27 5.90 6.50 6.29 Hay, All, Baled 1/ : Ton : 76.30 92.30 118.00 108.00 Alfalfa 1/ : Ton : 77.20 96.90 127.00 115.00 Other 1/ : Ton : 60.00 74.40 84.80 79.40 Oats : Bu : 1.22 2.16 1.86 1.80 Peanuts, In-Shell : Lb : .304 Potatoes : Cwt : 5.82 8.14 5.19 4.96 : : Rice, Rough : Cwt : 7.07 9.77 10.10 9.97 Sorghum Grain : Cwt : 3.75 6.85 4.17 4.11 Soybeans : Bu : 5.61 7.41 8.40 8.22 Sunflower 2/ : Cwt : 9.50 14.30 12.10 11.20 Tobacco : Lb : 1.740 : : Wheat, All : Bu : 2.96 5.25 4.09 3.66 Winter : Bu : 2.93 5.14 4.10 3.54 Durum : Bu : 2.86 5.56 4.41 4.37 Other Spring : Bu : 3.11 5.50 3.98 3.85 Hard Red : Bu : 2.95 5.46 4.05 Soft Red : Bu : 2.87 4.40 3.67 White : Bu : 3.24 5.21 4.09 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 3.60 -.140 1.82 Lemons : Box : 10.10 11.06 10.20 21.20 Limes : Box : 10.15 3.64 4.80 -2.39 Oranges : Box : 5.79 6.72 4.76 4.62 Tangelos : Box : 5.82 Tangerines : Box : 15.11 Temples : Box : 6.23 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .219 .148 .141 Grapes, Fresh 3/ : Ton : 506.00 1300.00 1200.00 790.00 Peaches, Fresh 3/ : Lb : .216 .272 .304 .208 Pears, Fresh 3/ : Ton : 370.00 584.00 501.00 583.00 Strawberries, Fresh: Lb : .560 .654 .543 .658 ----------------------------------------------------------------------------- 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, June 1997, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : Jun : May : Jun : : : 1996 : 1997 : 1997 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 108.00 99.70 112.00 Broccoli : Cwt : 22.50 30.60 23.10 27.90 Cantaloupes : Cwt : 23.40 22.20 15.60 Carrots : Cwt : 13.20 11.00 12.60 12.70 Cauliflower : Cwt : 26.80 35.70 20.70 31.50 Celery : Cwt : 11.60 11.50 15.40 10.70 Corn, Sweet : Cwt : 15.70 13.80 19.60 17.60 Cucumbers 2/ : Cwt : 10.80 18.70 13.50 Lettuce : Cwt : 11.90 15.20 10.50 13.10 Onions : Cwt : 12.80 11.10 13.60 15.70 Snap Beans 2/ : Cwt : 44.00 38.20 28.20 Tomatoes : Cwt : 32.30 25.90 33.80 35.60 : : Livestock : : : : Calves : Cwt : 94.30 55.10 84.30 85.00 Cattle, All Beef : Cwt : 72.90 56.40 65.10 61.90 Cows : Cwt : 49.60 30.60 38.20 36.00 Steers & Heifers : Cwt : 77.10 59.60 68.30 64.90 Milk Cows 3/ : Head : 1130.00 : : Hogs, All : Cwt : 47.70 56.40 58.20 57.20 Barrows & Gilts : Cwt : 48.40 57.10 58.80 57.90 Sows : Cwt : 39.50 44.90 48.40 45.80 : : Lambs : Cwt : 56.20 100.70 90.90 Sheep : Cwt : 23.40 26.60 33.40 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 14.80 13.00 5/12.60 Fluid Grade : Cwt : 13.10 14.90 13.10 5/12.70 Mfg Grade : Cwt : 11.80 13.60 10.90 5/10.90 : : Broilers, Live 6/ : Lb : .317 .406 .364 .374 Eggs, All 7/ : Doz : .643 .708 .643 .597 Market 7/ : Doz : .546 .583 .511 .454 Turkeys, Live 6/7/ : Lb : .380 .444 .412 .415 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .745 .624 .628 Milk, All 4/ : Cwt : 9.71 14.95 13.13 12.73 ----------------------------------------------------------------------------- 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 3.54, fluid milk 3.54, mfg grade 3.63. 6/ Equivalent liveweight returns to producers for most States. 7/ Mid-month price. Wheat: Prices Received, by States, May and June 1997 ------------------------------------------------------------------------------- : All Wheat : Winter Wheat : Durum Wheat : Oth Spring Wheat State :------------------------------------------------------------------------ : May 1/ : Jun 2/ : May 1/ : Jun 2/ : May 1/ : Jun 2/ : May 1/ : Jun 2/ ------------------------------------------------------------------------------- : Dollars per Bushel : AR : 3.73 3.35 3.73 3.35 CA : 4.20 4.10 3.99 3.87 3/ 3/ CO : 4.18 3.55 4.18 3.55 3.71 ID : 3.89 3.80 3.94 3.95 3.83 3.60 IL : 3.76 3.50 3.76 3.50 IN : 3.58 3.17 3.58 3.17 KS : 4.19 3.62 4.19 3.62 MI : 3.44 3.00 3.44 3.00 MN : 3.98 3.90 3/ 3/ 3.99 3.90 MO : 3.79 3.20 3.79 3.20 MT : 4.20 3.92 4.23 3.85 4.41 4.15 4.17 3.95 NE : 4.02 3.50 4.02 3.50 ND : 4.12 4.09 4.42 4.45 3.91 3.85 OH : 3.60 3.30 3.60 3.30 OK : 4.19 3.62 4.19 3.62 OR : 4.37 3.90 4.37 3.90 SD : 3.91 3.69 3.93 3.52 4.15 3/ 3.90 3.75 TX : 3.93 3.46 3.93 3.46 WA : 4.33 3.80 4.30 3.78 4.50 4.04 : US : 4.09 3.66 4.10 3.54 4.41 4.37 3.98 3.85 ------------------------------------------------------------------------------- 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 2.69 7.69 8.40 54.70 65.10 56.80 58.20 Jun : 5.25 3.66 4.20 2.56 7.41 8.22 56.40 61.90 56.40 57.20 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, May and June 1997 ------------------------------------------------------------------------------ : Barley 1/ : Corn : Oats : Soybeans : Sorghum Grain State :----------------------------------------------------------------------- :May 2/:Jun 3/:May 2/:Jun 3/:May 2/:Jun 3/:May 2/:Jun 3/: May 2/: Jun 3/ ------------------------------------------------------------------------------ : ----------------- Dollars per Bushel ---------------- Dollars per Cwt : AL : AR : 8.51 8.51 4.64 4.48 CA : 3.08 3.00 CO : 2.66 2.64 2.75 2.69 GA : 3.30 3.20 4/ 4/ ID : 2.55 2.60 IL : 2.80 2.65 2.30 2.30 8.61 8.30 4.39 4.40 IN : 2.86 2.73 8.60 8.44 IA : 2.61 2.48 2.10 2.00 8.40 8.15 KS : 2.71 2.70 8.27 8.20 4.25 4.17 KY : 2.94 2.75 8.72 8.20 LA : 4/ 4/ MI : 2.86 2.70 2.41 2.40 8.62 8.50 MN : 2.22 2.22 2.52 2.40 1.80 1.70 8.23 8.00 MS : 8.45 8.31 MO : 2.73 2.65 8.51 8.30 4.62 4.35 MT : 2.62 2.53 1.80 1.80 NE : 2.62 2.52 1.85 1.85 7.86 7.90 4.03 4.00 NC : 3.34 3.30 8.68 8.46 ND : 2.06 2.08 1.52 1.55 OH : 2.82 2.75 2.27 2.25 8.64 8.60 OK : 4.34 4.21 OR : 2.69 2.60 2.08 2.10 PA : 3.16 3.09 2.33 2.38 SD : 2.35 2.18 2.41 2.32 1.77 1.62 8.12 7.96 TN : 8.55 8.35 TX : 2.86 2.81 4.45 4.14 UT : 2.74 2.54 WA : 2.49 2.40 WI : 2.71 2.60 1.90 1.85 8.42 8.40 WY : 2.46 2.35 : US : 2.31 2.30 2.69 2.56 1.86 1.80 8.40 8.22 4.17 4.11 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for June 1997 is $1.90. 2/ Entire month. 3/ Mid-month. 4/ Insufficient sales to establish a price. Malting and Feed Barley: Prices Received Selected States, May and June 1997 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : May : Jun : May : Jun ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 3.05 3.05 2.53 2.55 MN : 2.27 2.30 2.01 1.90 MT : 3.30 3.10 2.23 2.15 ND : 2.18 2.25 1.95 1.90 SD : 2.48 2.20 2.17 2.04 WY : 1/ 1/ 2.46 2.35 ------------------------------------------------------------------------------ 1/ Insufficient sales to establish a price. Field Crops: Prices Received, by States, May and June 1997 ------------------------------------------------------------------------------ : Dry Edible : : : : : Beans : Sunflower : Flaxseed : Tobacco : Peanuts 4/ State :----------------------------------------------------------------------- :May 1/:Jun 2/:May 1/:Jun 2/:May 1/:Jun 2/:May 1/:Jun 3/: May 1/: Jun 3/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Bu --- Dollars per Pound --- : AL : CA : 39.60 38.70 CO : 19.90 20.50 FL : GA : ID : 23.10 23.40 IN : KS : 5/ 5/ KY : MD : MI : 18.90 18.20 MN : 19.10 18.20 12.70 12.40 MO : NE : 19.50 19.50 NC : ND : 16.10 16.80 12.20 11.70 6.52 6.30 OH : OK : SC : SD : 11.30 10.00 5/ 5/ TN : TX : VA : WV : : US : 22.60 21.30 12.10 11.20 6.50 6.29 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, May and June 1997 ---------------------------------------------------------------------------- : : June : Cotton, Upland :------------------------------------------------- State : : Cotton- : Hay, Baled 3/ : Apples :-------------------: seed :----------------------------: Fresh : May 1/ : Jun 2/ : 5/ : All : Alfalfa : Other : Use 1/4/ ---------------------------------------------------------------------------- : Dollars per Pound -------- Dollars per Ton ------- Dol/Lb : AL : AZ : .709 .706 106.00 106.00 98.00 AR : .660 .669 CA : .749 .752 125.00 129.00 99.00 CO : 120.00 120.00 110.00 GA : .695 .676 ID : 111.00 112.00 77.00 IL : 111.00 116.00 90.00 IA : 112.00 117.00 73.00 KS : 89.00 90.00 74.00 KY : 67.00 91.00 59.00 LA : .615 .619 MI : 108.00 110.00 95.00 .150 MN : 96.00 110.00 63.00 MS : .658 .656 MO : 71.00 104.00 64.00 MT : 84.00 84.00 71.00 NE : 76.00 78.00 53.00 NV : 102.00 105.00 78.00 NM : 126.00 129.00 100.00 NY : 84.00 113.00 71.00 NC : .693 .660 ND : 64.00 66.00 43.00 OH : 174.00 210.00 110.00 OK : 87.00 101.00 65.00 OR : 116.00 120.00 80.00 PA : 129.00 148.00 115.00 .200 SD : 96.00 97.00 67.00 TN : .641 .644 TX : .660 .672 93.00 135.00 70.00 UT : 85.00 85.00 55.00 VA : WA : 113.00 113.00 131.00 .138 WI : 96.00 104.00 62.00 WY : 85.00 85.00 78.00 : US : .681 .698 108.00 115.00 79.40 .141 ---------------------------------------------------------------------------- 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, June 1997, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Apr 1997 1/ : May 1997 1/ : Jun 1997 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .673 .681 .698 Marketings 3/ : 1,000 Bales : 448 531 NA : : Rice : : Average Price : Dollars/Cwt : 10.20 10.10 9.97 Marketings 4/ : 1,000 Cwt : 9902 7969 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, June 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 : 10.90 1.72 5.46 -0.22 -0.22 3.52 -2.16 CA : 13.10 4.23 7.66 -0.22 2.29 5.72 -2.16 FL : 11.50 4.42 5.10 1.00 2.27 3.10 -1.90 Colored Seedless: 11.50 4.42 5.10 1.00 2.27 3.10 -1.90 : CA-AZ 2/ : 12.60 3.42 7.16 -0.22 1.48 5.22 -2.16 : US : 12.00 3.85 5.99 0.03 1.82 4.02 -2.11 : Lemons : CA : 37.70 24.84 29.26 1.08 21.20 25.62 -2.56 : US : 37.70 24.84 29.26 1.08 21.20 25.62 -2.56 : Limes : FL : 15.00 3.36 3.80 2.00 -2.39 -2.20 -3.00 : Oranges : AZ : 7.62 1.68 1.72 -0.48 -0.40 -0.36 -2.56 Valencia : 7.62 1.68 1.72 -0.48 -0.40 -0.36 -2.56 CA : 16.20 7.70 10.27 -0.48 5.62 8.19 -2.56 Navel and Misc : 22.10 14.66 16.08 -0.48 12.68 14.10 -2.46 Valencia : 16.10 7.64 10.20 -0.48 5.56 8.12 -2.56 FL : 15.50 6.28 9.10 6.15 4.28 7.10 4.15 Valencia : 15.50 6.28 9.10 6.15 4.28 7.10 4.15 : CA-AZ : Navel and Misc : 22.10 14.66 16.08 -0.48 12.68 14.10 -2.46 Valencia : 16.00 7.56 10.05 -0.48 5.48 7.97 -2.56 : US : 15.90 6.64 9.98 5.61 4.62 7.91 3.60 ------------------------------------------------------------------------------ 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 - AZ and CA, 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, May and June 1997 ------------------------------------------------------------------------------ : : :: : : State : May : Jun :: State : May : Jun : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : 11.00 11.00 :: NC : AZ : 8.65 7.75 :: ND - All 1/ : 4.85 4.95 CA - All : 8.05 9.80 :: - Fresh 2/ : 2.00 NA - Winter : :: - Processing : 5.00 NA - Spring : 8.75 10.50 :: OH : - Summer : :: OR : 4.50 3.95 - Fall : 5.65 4.95 :: PA : 7.75 CO - All 1/ : 0.65 0.65 :: TX : 8.30 8.10 - Fresh 2/ : 0.65 NA :: VA : FL : 11.00 11.50 :: WA - All : 5.15 5.20 ID - All 1/ : 3.55 3.00 :: - Processing : 5.55 NA - Fresh 2/ : 1.30 NA :: WI - All 1/ : 2.80 5.00 - Processing : 4.50 NA :: - Fresh 2/ : 1.20 NA ME : 4.90 :: - Processing : 4.00 NA MI : 6.20 :: : MN : 4.40 4.40 :: US - All 1/ : 5.19 4.96 NY : 7.10 :: - Fresh 2/ : 4.48 NA : :: - Processing : 5.77 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. Sweetpotatoes: Season Average Prices Received, by State and United States, 1995-96 ------------------------------------------------------------------------------- State : 1995 : 1996 : State : 1995 : 1996 ------------------------------------------------------------------------------- : Dollars per Cwt : : Dollars per Cwt : : : AL : 16.50 12.10 : NC : 11.60 10.70 CA : 33.00 26.10 : SC : 12.60 14.70 GA : 10.10 10.60 : TX : 12.70 14.40 LA : 13.20 13.10 : VA : 10.60 10.90 MS : 15.10 12.60 : : NJ : 23.10 17.90 : US : 15.90 14.40 ------------------------------------------------------------------------------- Cattle: Prices Received, by States, May and June 1997 ------------------------------------------------------------------------------ : Cows 1/ : Steers & Heifers: Beef Cattle 4/ : Calves State :----------------------------------------------------------------------- : May 2/ : Jun 3/ : May 2/ : Jun 3/ : May 2/ : Jun 3/ : May 2/ : Jun 3/ ------------------------------------------------------------------------------ : Dollars per Cwt : AZ : 40.20 37.00 67.00 64.00 64.30 61.60 84.00 81.00 AR : 37.90 34.50 74.20 73.30 57.50 55.50 68.60 66.70 CA : 36.50 33.00 64.00 63.00 51.90 50.10 71.00 70.00 CO : 40.50 40.10 68.10 64.00 66.20 62.80 86.60 87.30 FL : 37.30 36.40 69.90 71.50 42.50 42.40 92.70 91.20 GA : 36.30 33.50 69.30 68.60 47.20 45.80 80.90 80.00 ID : 35.50 34.20 65.00 61.30 57.90 54.80 77.00 77.00 IL : 39.90 38.70 67.10 63.30 66.60 62.80 103.00 104.00 IA : 40.30 38.70 68.70 65.00 65.00 61.80 79.10 82.40 KS : 40.70 37.90 68.10 63.60 67.00 63.30 89.00 89.00 KY : 39.00 38.00 70.00 70.00 62.60 62.30 78.00 78.00 LA : 37.50 35.00 71.70 71.00 48.10 46.20 79.90 81.00 MI : 39.50 39.50 62.40 63.00 53.20 53.60 56.00 62.00 MN : 37.00 35.50 64.80 63.00 62.10 60.30 63.70 68.00 MO : 39.60 36.30 76.90 77.00 66.50 65.60 84.50 84.30 MT : 41.70 39.70 77.40 74.90 56.70 52.00 84.30 80.20 NE : 40.20 37.20 69.40 64.00 68.70 63.20 87.10 83.10 NM : 43.80 42.20 75.70 73.80 65.20 62.70 88.00 88.30 ND : 40.90 40.00 73.10 74.00 60.50 55.30 79.70 80.00 OH : 37.20 36.00 66.20 64.00 63.30 61.20 68.90 65.00 OK : 39.00 40.50 73.90 75.80 69.60 71.60 87.40 87.40 OR : 41.00 41.00 71.40 71.60 62.30 62.40 74.50 75.00 PA : 37.10 35.60 64.00 62.40 57.00 55.40 69.70 69.50 SD : 37.00 33.00 71.80 73.10 65.50 63.90 89.20 91.00 TN : 37.40 35.50 73.10 73.30 58.80 58.20 78.80 79.00 TX : 37.20 34.60 69.50 69.50 66.60 66.40 89.60 91.70 VA : 34.50 34.60 70.20 72.40 63.10 64.80 74.60 74.70 WI : 39.90 36.90 64.30 63.10 50.10 47.90 96.90 97.70 WY : 41.40 38.50 75.00 74.40 73.00 67.20 84.50 84.50 : US : 38.20 36.00 68.30 64.90 65.10 61.90 84.30 85.00 ------------------------------------------------------------------------------ 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, May and June 1997 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : May 1/ : Jun 2/ : May 1/ : Jun 2/ : May 1/ : Jun 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 45.20 45.20 54.50 52.70 53.60 52.00 IL : 48.50 45.50 57.20 56.70 56.50 55.80 IN : 49.20 45.70 57.30 57.30 56.50 56.10 IA : 51.20 48.90 60.50 60.10 60.40 60.00 KS : 51.10 47.30 56.80 53.40 55.90 52.60 KY : 47.00 46.00 58.00 56.00 57.60 55.60 MI : 44.90 42.50 59.60 60.50 57.70 57.80 MN : 50.80 47.50 59.60 59.00 59.20 58.50 MO : 48.30 47.60 56.60 55.90 56.00 55.30 NE : 50.80 48.40 60.50 59.40 60.30 59.20 NC : 50.60 46.50 58.80 56.70 58.70 56.60 OH : 45.40 46.00 59.00 58.00 58.20 57.30 PA : 44.10 45.30 57.00 56.00 55.10 54.40 SC : 46.90 44.60 55.10 55.00 54.60 54.40 SD : 48.40 44.80 60.60 58.80 59.30 56.80 TN : 47.70 44.40 54.90 55.20 54.20 54.10 TX : 41.30 40.40 53.70 51.60 52.00 50.00 VA : 43.00 42.00 56.40 53.30 56.10 53.10 WI : 45.90 43.30 56.70 56.10 55.30 54.40 : US : 48.40 45.80 58.80 57.90 58.20 57.20 ------------------------------------------------------------------------------ 1/ Entire month 2/ Mid-month. Sheep and Poultry: Prices Received, by States, May and June 1997 ------------------------------------------------------------------------------ : May : June :----------------------------------------------------------------------- State : Sheep : Lambs : Turkeys : Broilers: Eggs : 1/ : 1/ : 2/3/ : 1/4/ : 2/5/ ------------------------------------------------------------------------------ : ---- Dollars per Cwt ---- Dollars per Pound Dol/Doz : AL : .380 .400 AZ : AR : .42 .370 .480 CA : 30.00 94.00 .40 .385 .410 CO : 28.00 90.00 CT : .520 DE : .380 FL : .530 GA : .370 .457 ID : 35.50 81.50 IN : .41 .490 IA : 31.30 89.30 .45 .351 KS : 30.00 89.00 ME : .620 MD : .380 MI : .410 MN : 29.30 101.00 .41 .420 MS : .370 .560 MO : .42 .348 MT : 33.40 103.00 NE : 30.10 108.00 NM : NY : .543 NC : .41 .375 .380 OH : 32.60 106.00 .495 OR : 29.00 86.00 PA : .42 .380 .500 SC : .474 SD : 35.10 91.30 TX : 39.20 88.00 .380 .430 UT : 30.00 96.00 VA : .42 .360 WA : .480 WY : 29.60 87.70 : US : 33.40 90.90 .415 .374 .454 ------------------------------------------------------------------------------ 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, May and June 1997 ------------------------------------------------------------------------------ : May : June :----------------------------------------------------------------------- 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 : 15.00 3.52 15.00 3.52 14.10 3.52 AZ : 12.50 3.48 12.50 3.48 12.10 3.51 AR : 14.20 3.49 14.20 3.49 13.50 3.47 CA : 12.00 3.52 11.50 3.90 12.00 3.52 11.90 3.50 CO : 12.60 3.53 12.60 3.53 12.30 3.52 FL : 16.30 3.54 16.30 3.54 15.40 3.50 GA : 14.50 3.50 14.50 3.50 13.50 3.50 ID : 11.00 3.46 10.80 3.63 11.00 3.47 11.00 3.45 IL : 12.60 3.69 11.60 3.89 12.50 3.70 12.80 3.64 IN : 13.40 3.62 11.40 3.61 13.30 3.62 13.40 3.55 IA : 13.60 3.67 10.90 3.68 13.30 3.67 13.50 3.60 KS : 12.20 3.54 10.90 3.55 12.20 3.54 12.00 3.48 KY : 14.10 3.49 9.80 3.53 14.00 3.49 13.00 3.48 LA : 14.30 3.37 14.30 3.37 14.40 3.39 MD : 13.60 3.59 13.60 3.59 12.50 3.55 MI : 13.40 3.60 10.00 3.67 13.40 3.60 12.60 3.50 MN : 12.15 3.70 10.60 3.70 12.00 3.70 12.00 3.60 MS : 14.40 3.46 14.40 3.46 13.40 3.48 MO : 13.60 3.53 10.80 3.57 13.50 3.53 13.60 3.50 NE : 12.20 3.62 10.80 3.59 12.10 3.62 11.20 3.53 NM : 12.20 3.42 12.20 3.42 12.70 3.37 NY : 13.00 3.65 13.00 3.65 12.30 3.57 NC : 15.20 3.58 9.75 3.74 15.10 3.58 14.10 3.54 ND : 11.80 3.58 10.70 3.53 11.30 3.56 11.40 3.50 OH : 13.50 3.64 11.30 3.68 13.30 3.64 12.40 3.58 OK : 14.00 3.51 14.00 3.51 13.00 3.47 OR : 12.70 3.53 11.00 3.80 12.70 3.53 12.10 3.52 PA : 13.80 3.58 10.50 3.69 13.80 3.58 13.80 3.53 TN : 14.60 3.48 9.80 3.52 14.50 3.48 14.40 3.46 TX : 13.20 3.48 13.20 3.48 13.50 3.46 UT : 11.80 3.53 10.60 3.50 11.70 3.53 11.60 3.50 VT : 13.90 3.79 13.90 3.79 13.00 3.66 VA : 14.10 3.56 10.40 3.57 14.10 3.56 13.80 3.52 WA : 12.70 3.53 12.70 3.53 12.10 3.52 WI : 12.33 3.76 11.22 3.81 12.24 3.76 12.10 3.66 : US : 13.10 3.59 10.90 3.70 13.00 3.60 12.60 3.54 ------------------------------------------------------------------------------ 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, May and June 1997, with Comparisons ------------------------------------------------------------------------------ Item : Jun 1996 : May 1997 : Jun 1997 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 26.51 26.97 26.97 Average Price F.O.B.......Dol per Cwt : 13.60 10.90 2/10.90 Average Fat Test of Milk..Percent : 3.63 3.70 2/3.63 ------------------------------------------------------------------------------ 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 June 1997, with Comparisons 1/ ------------------------------------------------------------------------------- : : Parity Prices :Prices as Percent :Adjusted: Based on Data for : of Parity Commodity and Unit : Base :------------------------------------------ : Prices : Jun : May : Jun : Jun : May : Jun : : 1996 : 1997 : 1997 : 1996: 1997: 1997 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .623 9.34 9.58 9.58 56 43 38 Rice, Cwt : 1.69 25.70 26.00 26.00 38 39 38 Corn, Bu : .418 6.21 6.43 6.42 68 42 40 Cotton, Lb : American Upland : .112 1.72 1.72 1.72 45 40 41 Extra Long Staple : .150 2.30 2.31 2.31 Peanuts, Lb : .0430 .671 .661 .661 Tobacco, By Type, Lb : Flue-Cured 11-14 : .250 3.80 3.85 3.84 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 3.73 3.89 3.89 Sun-Cured, 37 : .209 3.11 3.21 3.21 PA Seedleaf, 41 : .176 2.43 2.71 2.71 Cigar Filler & Binder, : 42-44, 54-55 .208 2.99 3.20 3.20 Puerto Rican Filler, 46 : .173 2.62 2.66 2.66 Cigar Binder, 51-52 : .429 5.64 6.60 6.59 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.93 29.00 29.70 29.70 2/52 2/44 2/43 Honey, Extracted, Lb : 3/.0859 1.23 1.32 1.32 : Wool and Mohair : Wool, Lb : .270 4.26 4.15 4.15 Mohair, Lb : .721 10.70 11.10 11.10 : Other Nonbasic : Barley, Bu : .381 5.64 5.86 5.86 63 39 39 Cottonseed, Ton : 15.30 225.00 235.00 235.00 Dry Edible Beans, Cwt : 3.28 49.30 50.40 50.40 52 45 42 Flaxseed, Bu : .748 11.20 11.50 11.50 53 57 55 Oats, Bu : .237 3.46 3.65 3.64 62 51 49 Potatoes, Cwt : .839 13.10 12.90 12.90 62 40 38 Rye, Bu : .303 4.25 4.66 4.66 Sorghum Grain, Cwt : .661 9.71 10.20 10.20 71 41 40 Soybeans, Bu : .901 13.40 13.90 13.80 55 60 60 Sweetpotatoes, Cwt : 1.25 20.40 19.20 19.20 Apples, Fresh, Lb 5/ : .0290 .432 .446 .446 51 33 32 Citrus (equiv on-tree),box: Grapefruit : .704 10.10 10.80 10.80 36 10/ 17 Lemons : 1.15 18.60 17.70 17.70 59 58 120 Limes (FL) : 1.30 21.30 20.00 20.00 17 24 10/ Oranges : .900 12.50 13.80 13.80 54 34 33 Tangerines : 1.90 29.30 29.20 29.20 Temples (FL) : .755 10.20 11.60 11.60 Beef Cattle, Cwt : 9.99 153.00 154.00 154.00 37 42 40 Calves, Cwt : 12.70 197.00 195.00 195.00 28 43 44 Hogs, Cwt : 6.79 104.00 104.00 104.00 54 56 55 Lambs, Cwt : 10.00 154.00 154.00 154.00 65 59 Sheep, Cwt : 4.06 61.80 62.40 62.40 43 54 Eggs, Doz : .0935 1.41 1.44 1.44 2/53 2/43 2/44 Turkeys, Live, Lb : .0573 .886 .881 .881 50 47 47 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for June 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 3.67 : Processing 6/ : Spearmint Oil, Lb: 1.91 29.40 : Excl Dried : Tobacco, Lb : : Clingstone, : Type 61 : 2.58 39.70 : CA, Ton : 30.80 473.00 : : 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/ : 55.70 856.00 Cranberry, Bbl 6/: 7.10 109.00 : Processing 7/ : Dates, CA, Ton 8/: 130.00 2000.00 : Excl Dried : 21.10 324.00 Grapes, Ton : : : Raisin Variety : 137.00 2110.00 :Tree Nuts 11/ : Other Dried : 52.60 808.00 : 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 2270.00 Ton 8/ : 61.60 947.00 : : Olives, CA : :Vegetables, Cwt 12/: Canning, Ton 6/: 93.70 1440.00 : Fresh : Papayas (HA) Lb : .0410 .630 : Carrots 9/ : 1.55 23.80 Peaches : : Cauliflower 9/ : 4.18 64.20 Fresh, Lb 5/ : .0401 .616 : 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. 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 June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 117 (1990-92=100), unchanged from May but 1.7 percent higher than June 1996. Production Index: The farm production, goods, and services index for June 1997, at 117, was the same as a month earlier but 1.7 percent higher than June last year. Since May 1997, higher prices for feed concentrates, complete feeds, feeder cattle, and herbicides were offset by lower hay, feed grain, fuel, feeder pig, and fertilizer prices. Fuels: The fuel index, at 98, was down 3.0 percent from a month ago but up 1.0 percent from June 1996. Prices were down in June for diesel fuel, LP gas, and gasoline with diesel fuel showing the largest decline. Feed: At 129, the feed index was unchanged from May, but fell 5.8 percent from June 1996. Lower corn and other feed grains, hay, and supplement prices during June were offset by price increases for concentrates and complete feeds. Agricultural Chemicals: The agricultural chemicals index increased 0.8 percent from May to 122. The index was 3.4 percent above a year ago. Higher herbicide prices contributed most to the increase in June. Fertilizer: At 123, the fertilizer index declined 0.8 percent from both May 1997 and June 1996. Lower June prices for nitrogen and phosphate materials more than offset higher mixed fertilizer prices. Farm Machinery: The farm machinery index, at 128, rose 0.8 percent from May and 2.4 percent from the previous year. Prices were slightly higher in June for other farm machinery, while tractor and self-propelled machinery prices were unchanged from May. Livestock and Poultry: The index for livestock and poultry purchases was 95, the same as May 1997, but up 30 percent from last June. Since last month, higher feeder cattle and calf prices and lower feeder pig prices were offsetting. Consumer Price Index: The May 1997 Consumer Price Index for all urban consumers (CPI-U) declined 0.1 percent before seasonal adjustment to a level of 160.1 (1982-84=100). This compares to the April index of 160.2. For the 12-month period ending in May, the overall index increased 2.2 percent. Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, June 1997 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 1996 : 1997 : 1996 : 1997 Ratios :---------------------------------------------- : Jun : May : Jun : Jun : May : Jun -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1508 *1539 1537 115 117 117 Production : 1119 *1139 1137 115 117 117 Feed : 669 *630 627 137 *129 129 Livestock and Poultry : 931 *1218 1215 73 95 95 Seeds : 1161 1186 1186 117 120 120 Fertilizer : 453 *452 451 124 124 123 Agricultural Chemicals : 730 *745 753 118 *121 122 Fuels : 750 *782 759 97 *101 98 Supplies & Repairs : 815 *832 832 115 117 117 Autos & Trucks : 2863 *2904 2889 108 *109 109 Farm Machinery : 3123 *3196 3199 125 127 128 Building Material : 1574 *1609 1609 116 118 118 Farm Services & Rent : 1413 *1404 1404 Farm Services : 118 117 117 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) : 1541 *1566 1564 115 117 117 Family Living-CPI 3/ : 1490 *1522 1522 116 119 119 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 103 *92 91 Parity Ratio 4/ : 50 44 44 Parity Ratio Adjusted 5/ : 52 46 46 PPITW Adjusted for : Productivity 6/ : 1016 1048 1048 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 116 118 118 Livestock Sector (PPITW) : 114 *117 116 -------------------------------------------------------------------------------- Farm Sector (Production) : 112 *116 115 Non-Farm Sector (Production) : 117 118 118 -------------------------------------------------------------------------------- * 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, June 1997 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :----------------------------- Index : 5-Year Moving Average : 1996 : 1997 :----------------------------------------------------- : 1996 : 1997 : Jun : May : Jun -------------------------------------------------------------------------------- : ---- Percent --- ---- (1990-92=100) ---- : Production Items : 66.3 66.8 115 117 117 : Feed : 11.2 11.3 137 *129 129 Complete Feeds : 4.9 5.0 133 *128 129 Feed Grains : 2.1 2.0 179 114 109 Hay/Forages : 1.2 1.3 117 146 134 Concentrates : 1.8 1.8 118 *143 152 Supplements : 1.2 1.2 132 *123 118 Livestock & Poultry : 8.3 7.9 73 95 95 Feeder Cattle : 6.4 6.2 69 91 92 Milk Cow Replacements : .7 .6 95 99 99 Feeder Pigs : .7 .6 67 *128 119 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 4.7 124 124 123 Mixed Fertilizer : 2.0 2.1 122 *119 119 Nitrogen : 1.9 2.0 131 *134 132 Potash & Phosphate : .5 .6 107 *109 109 Agricultural Chemicals : 3.4 3.6 118 *121 122 Herbicides : 2.1 2.3 117 *118 120 Insecticides : .8 .8 125 *130 132 Fungicides/Other : .5 .5 115 118 118 Fuels : 2.9 2.8 97 *101 98 Diesel : 1.6 1.5 92 *97 94 LP Gas : .3 .3 97 *97 88 Gasoline : 1.0 1.0 106 *110 108 Farm Supplies & Repairs : 5.4 5.7 115 117 117 Supplies : 1.8 1.9 113 114 114 Repairs : 3.6 3.8 116 *119 119 Autos & Trucks : 1.4 1.3 108 *109 109 Autos : .2 .2 105 106 105 Trucks : 1.2 1.1 108 110 109 Farm Machinery : 4.5 4.2 125 127 128 Self-Propelled : 1.8 1.7 128 127 127 Tractors : 1.0 .9 120 125 125 Other Machinery : 1.7 1.6 124 129 130 Building Materials : 2.5 2.6 116 118 118 Farm Services : 11.2 11.9 118 117 117 Custom Rates : 1.1 1.2 113 111 111 Other Services : 10.1 10.7 119 *118 118 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, June 1997 With Comparisons ------------------------------------------------------------------------------ : 1996 : 1997 Feed Price Ratio 1/ :---------------------------- : Jun : May : Jun ------------------------------------------------------------------------------ : Broiler-Feed: Pounds of Broiler Grower equal in : value to 1 pound of broiler, live weight : 4.3 4.2 4.4 Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs : 6.7 7.2 6.6 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 13.4 21.6 22.3 Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : 2.18 *2.11 2.18 : Steer-Heifer-Feed-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight : 14.2 *25.4 25.4 Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 4.9 5.3 5.6 ------------------------------------------------------------------------------ 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, June 1997 With Comparisons ------------------------------------------------------------------------------ : : 1996 : 1997 Commodity : Unit :---------------------------------------------- : : June : May : June ------------------------------------------------------------------------------ Broilers, Live : Lb : .406 .364 .374 Eggs, Market : Doz : .583 .511 .454 : : Hogs, All : Cwt : 56.40 *58.20 57.20 Milk, All : Cwt : 14.80 *13.00 12.60 : : Steers and Heifers : Cwt : 59.60 *68.30 64.90 Turkeys, Live : Lb : .444 .412 .415 : : Corn : Bu : 4.20 *2.69 2.56 Hay, Alfalfa, Baled : Ton : 96.90 127.00 115.00 : : Soybeans : Bu : 7.41 *8.40 8.22 Wheat, All : Bu : *5.26 4.09 3.66 ------------------------------------------------------------------------------ * Revised. Feeder Livestock: Prices Paid, United States, June 1997 With Comparisons ------------------------------------------------------------------------------- : : 1996 : 1997 ITEM : Unit :------------------------------------------- : : June : May : June ------------------------------------------------------------------------------- : : Dollars Feeders and Stockers : : Cattle and Calves : Cwt : 58.20 77.20 77.80 : : Feeder Pigs : " : 62.00 *118.00 109.00 ------------------------------------------------------------------------------- * Revised. 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-24 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 Sweetpotatoes: Marketing Year Average Price, by State, and U.S., 1995-96 ............................................... A-17 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-8 U.S. Average Prices: Feeder Livestock ........................................ 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 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) 690-3347 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 July 31, 1997. 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