Agricultural Prices National Agricultural Statistics Service USDA Washington, D.C. Released May 29, 1998, 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 May was 103 based on 1990-92=100, down 1 point (1.0 percent) from April. Price decreases from April for lettuce, milk, eggs, and broccoli more than offset price increases for hogs, tomatoes, potatoes, 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 peaches more than offset the relatively lower marketings of cattle, milk, cotton, and apples. These changes in marketings limited the decline in the index. Compared with May 1997, the All Farm Products Index was 5 points (4.6 percent) lower. Price decreases from May 1997 for hogs, soybeans, corn, and wheat more than offset price increases for milk, tomatoes, lettuce, and potatoes. Prices Paid Index Unchanged The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 116 percent of the 1990-92 average. The index was unchanged from April 1998 but 2 points (1.7 percent) below May 1997. Since April, lower prices for feed concentrates, feeder cattle, complete feeds, feed supplements, nitrogen fertilizer, and feed grains were offset by higher prices for diesel fuel, gasoline, mixed fertilizers, feeder pigs, and alfalfa hay. Index Summary Table ----------------------------------------------------------------------------- : 1997 : 1998 Index :----------------------------------------------------- 1990-92=100 : Apr : May : Apr : May ----------------------------------------------------------------------------- : : : : Prices Received : 106 : 108 : 104 : 103 : : : : Prices Paid : 117 : 118 : 116 : 116 : : : : Ratio 1/ : 91 : 92 : 90 : 89 ----------------------------------------------------------------------------- 1/ Ratio of index of prices received by farmers to index of prices paid. Pr 1 (5-98) Prices Received by Farmers The May All Farm Products Index was 103 percent of its 1990-92 base, down 1.0 percent from April and down 4.6 percent from May 1997. All Crops: The May index was 113, down 1.7 percent from April and 3.4 percent below May 1997. From April, price decreases for vegetables, feed grains and hay, fruits, and food grains more than offset price increases for potatoes and dry beans and oilseeds. Food Grains: The May index, at 109, was down 2.7 percent from the previous month and 22 percent below May 1997. The May all wheat price, at $3.07 per bushel, was down 8 cents from April and $1.01 below the May 1997 price. Feed Grains & Hay: The May index was 108, down 0.9 percent from last month and 11 percent below May 1997. The corn price, at $2.36 per bushel, was down 5 cents from April and 33 cents below the May 1997 price. The all hay price, at $103.00 per ton, was up $2.00 from April. Oil-Bearing Crops: The May index, at 112, was unchanged from April but 25 percent below May 1997. Soybean prices, at $6.28 per bushel, increased 2 cents from April but were $2.12 below May 1997. Potatoes and Dry Beans: The May potatoes and dry beans index, at 115, was up 8.5 percent from the previous month and up 22 percent from May 1997. Increased movement from last month for new crop potatoes in Florida and California resulted in an increase in overall potato prices. Commercial Vegetables: The May index, at 126, was down 19 percent from last month but 16 percent above May 1997. Lower prices from last month for lettuce, broccoli, asparagus, and onions more than offset higher prices for tomatoes and celery. Crops for which plantings were delayed due to weather conditions are now coming to market resulting in lower prices. Livestock and Products: The May index, at 95, was unchanged from the April index but down 5.0 percent from May 1997. Compared with a year ago, prices were up for calves, all milk, and broilers but were lower for hogs, beef cows, steers and heifers, eggs, and turkeys. Meat Animals: The May index, at 87, was up 3.6 percent from last month but down 10 percent from a year earlier. The May hog price was $41.80 per cwt, up $6.20 from April but $16.40 below a year ago. The May beef cattle price, of $62.50, was down 50 cents from last month and $2.60 below May 1997. Beef cattle prices were down slightly due to heavier slaughter weights which continue to keep stocks in cold storage well above a year ago. Dairy Products: The May index, at 103, was down 3.7 percent from April but was 6.2 percent above May 1997. The May all milk price, at $13.40 per cwt, was down 60 cents from April but up 70 cents from last year. April milk production was up 1.0 percent from last year. May prices decreased for both fluid and manufacturing grade milk. Cheese prices decreased during the month of May. Poultry and Eggs: The May index, at 107, was 1.8 percent below April and 4.5 percent below a year ago. The May broiler price, at 36.9 cents per pound, was up 0.4 cents from April, reflecting a seasonal increase in demand. A decrease in domestic demand for eggs along with a weak export market lowered market egg prices 10.6 cents from April to 39.0 cents per dozen. Turkey prices decreased 0.3 cent to 35.4 cents per pound. Cold storage holdings of turkey continue to be above last year. Index Numbers of Prices Received, United States, May 1998, with Comparisons ------------------------------------------------------------------------------- : 1910-14=100 : 1990-92=100 :------------------------------------------------------ Index : : 1997 : 1998 : 1997 : 1998 :Average:---------------------------------------------- :1990-92: May : Apr : May : May : Apr : May ------------------------------------------------------------------------------- : All Farm Products : 639 684 *662 656 108 *104 103 : All Crops : 500 578 *568 555 117 *115 113 Food Grains : 325 442 *357 345 139 *112 109 Feed Grains & Hay : 363 435 *390 387 122 *109 108 Cotton : 517 577 *526 525 113 103 102 Tobacco 1/ : 1263 1678 *1474 111 97 Oil-Bearing Crops : 554 817 *613 615 149 *112 112 Fruit & Nuts : 716 754 *710 771 108 *102 110 Commercial Vegetables : 698 731 1041 841 109 156 126 Potatoes & Dry Beans : 540 478 *539 580 94 *106 115 Other Crops : 493 532 532 532 108 108 108 : Livestock & Products : 768 766 *731 731 100 95 95 Meat Animals : 1021 982 *856 881 97 84 87 Dairy Products : 799 780 *860 823 97 *107 103 Poultry & Eggs : 282 314 306 301 112 109 107 : Food Commodities : 106 *103 102 ------------------------------------------------------------------------------- * Revised. 1/ Missing data indicates insufficient sales to establish a price. Selected Index Numbers for Prices Received and Paid, 1990-92=100, by Months, United States, 1997 and 1998 ------------------------------------------------------------------------------ : Index of Prices Received : Index of Prices Paid :-------------------------------------------------------------------- : : : Livestock : : Month : All Farm : All : and : All : Production : Products : Crops : Products : Items : Items :-------------------------------------------------------------------- : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 : 1997 : 1998 ------------------------------------------------------------------------------ Jan : 108 103 116 110 98 94 116 117 115 116 Feb : 105 101 113 110 98 94 116 117 116 115 Mar : 108 102 118 111 99 95 117 116 116 114 Apr : 106 104 116 115 99 95 117 116 117 114 May : 108 103 117 113 100 95 118 116 118 114 Jun : 107 119 97 117 117 Jul : 107 114 99 117 117 Aug : 107 116 99 117 117 Sep : 107 114 99 117 117 Oct : 107 114 97 117 116 Nov : 107 114 98 117 117 Dec : 105 111 97 117 116 ------------------------------------------------------------------------------ Prices Received, United States, May 1998, with Comparisons ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : May : Apr : May : : : 1997 : 1998 : 1998 ----------------------------------------------------------------------------- : : Dollars : : Field Crops : : : : Barley, All : Bu : 2.12 2.29 2.14 2.16 Feed : Bu : 1.90 2.26 1.85 2.04 Malting : Bu : 2.43 2.32 2.50 2.36 Beans, Dry Edible : Cwt : 19.10 22.20 20.80 21.30 Corn : Bu : 2.30 2.69 2.41 2.36 Cotton, Upland : Lb : .606 .683 .622 .621 Cottonseed : Ton : 96.00 : : Flaxseed : Bu : 4.27 6.45 6.22 6.20 Hay, All, Baled 1/ : Ton : 76.30 109.00 101.00 103.00 Alfalfa 1/ : Ton : 77.20 112.30 105.00 108.00 Other 1/ : Ton : 60.00 95.90 78.20 78.00 Oats : Bu : 1.22 1.86 1.61 1.48 Peanuts, In-Shell : Lb : .304 Potatoes : Cwt : 5.82 5.26 6.17 6.70 : : Rice, Rough : Cwt : 7.07 10.20 9.30 9.28 Sorghum Grain : Cwt : 3.75 4.18 3.76 3.67 Soybeans : Bu : 5.61 8.40 6.26 6.28 Sunflower 2/ : Cwt : 9.50 12.10 12.60 13.40 Tobacco : Lb : 1.740 1.695 : : Wheat, All : Bu : 2.96 4.08 3.15 3.07 Winter : Bu : 2.93 4.09 2.94 2.89 Durum : Bu : 2.86 4.37 4.45 4.07 Other Spring : Bu : 3.11 3.99 3.41 3.37 Hard Red : Bu : 2.95 4.05 3.17 Soft Red : Bu : 2.87 3.66 2.81 White : Bu : 3.24 4.05 2.92 : : Fruit : : : : Citrus-Equiv on-tree : : Grapefruit : Box : 5.77 .210 1.36 .420 Lemons : Box : 10.10 15.71 2.14 4.75 Limes : Box : 10.15 3.50 24.50 6.50 Oranges : Box : 5.79 5.15 5.82 5.68 Tangelos : Box : 5.82 Tangerines : Box : 15.11 11.56 12.87 .160 Temples : Box : 6.23 : : Non-citrus : : Apples, Fresh 3/ : Lb : .212 .143 .192 .182 Grapes, Fresh 3/ : Ton : 506.00 1200.00 Peaches, Fresh 3/ : Lb : .216 .255 .400 Pears, Fresh 3/ : Ton : 370.00 503.00 292.00 373.00 Strawberries, Fresh: Lb : .560 .543 .689 .686 ----------------------------------------------------------------------------- 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 1998, with Comparisons (continued) ----------------------------------------------------------------------------- : : : Entire Month : Preliminary : : Average :---------------------------------- Commodity : Unit : 1990-92 : May : Apr : May : : : 1997 : 1998 : 1998 ----------------------------------------------------------------------------- : : Dollars : : Vegetables, Fresh 1/ : : : : Asparagus : Cwt : 79.80 97.40 121.00 99.00 Broccoli : Cwt : 22.50 23.10 40.50 30.10 Cantaloupes : Cwt : 22.20 Carrots : Cwt : 13.20 12.60 12.20 12.00 Cauliflower : Cwt : 26.80 20.70 44.50 41.50 Celery : Cwt : 11.60 15.40 13.80 14.90 Corn, Sweet : Cwt : 15.70 21.20 22.90 17.60 Cucumbers 2/ : Cwt : 18.70 22.50 17.80 Lettuce : Cwt : 11.90 10.40 27.90 13.60 Onions : Cwt : 12.80 13.30 21.70 18.60 Snap Beans 2/ : Cwt : 38.20 59.20 43.50 Tomatoes : Cwt : 32.30 33.40 36.50 42.40 : : Livestock : : : : Calves : Cwt : 94.30 84.30 90.80 89.60 Cattle, All Beef : Cwt : 72.90 65.10 63.00 62.50 Cows : Cwt : 49.60 38.20 36.20 36.50 Steers & Heifers : Cwt : 77.10 68.30 66.30 65.70 Milk Cows 3/ : Head : 1130.00 1110.00 : : Hogs, All : Cwt : 47.70 58.20 35.60 41.80 Barrows & Gilts : Cwt : 48.40 58.80 36.10 42.50 Sows : Cwt : 39.50 48.40 26.90 28.50 : : Lambs : Cwt : 56.20 90.80 66.10 Sheep : Cwt : 23.40 34.00 35.40 : : Dairy and Poultry : : : : Milk, All 4/ : Cwt : 13.06 12.70 14.00 5/13.40 Fluid Grade : Cwt : 13.10 12.80 14.00 5/13.50 Mfg Grade : Cwt : 11.80 10.90 12.10 5/11.60 : : Broilers, Live 6/ : Lb : .317 .368 .365 .369 Eggs, All 7/ : Doz : .643 .642 .635 .548 Market 7/ : Doz : .546 .506 .496 .390 Turkeys, Live 6/7/ : Lb : .380 .413 .357 .354 ----------------------------------------------------------------------------- Adjusted for Seasonal : : Variation : : Eggs, All : Doz : .545 .623 .605 .537 Milk, All 4/ : Cwt : 9.71 12.83 14.14 13.67 ----------------------------------------------------------------------------- 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 3.60, mfg grade 3.70. 6/ Liveweight equivalent price. 7/ Mid-month price. Wheat: Prices Received, by States, April and May 1998 ------------------------------------------------------------------------------- : 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 : 2.89 2.75 2.89 2.75 CA : 3.13 2.78 3.13 2.78 3/ 3/ CO : 3.08 2.88 3.08 2.88 3.06 3.07 ID : 2.81 2.65 2.82 2.65 2.80 2.65 IL : 3.05 2.90 3.05 2.90 IN : 2.56 2.70 2.56 2.70 KS : 2.89 2.88 2.89 2.88 MI : 2.77 2.75 2.77 2.75 MN : 3.42 3.49 2.79 2.80 3/ 3/ 3.43 3.50 MO : 2.74 2.75 2.74 2.75 MT : 3.53 3.59 3.28 3.30 4.87 4.50 3.55 3.65 NE : 3.06 3.00 3.06 3.00 ND : 3.51 3.41 3/ 3/ 4.38 4.00 3.38 3.30 OH : 2.67 2.65 2.67 2.65 OK : 2.87 2.80 2.87 2.80 OR : 3.09 3.04 3.06 3.02 3.18 3.17 SD : 3.35 3.29 2.95 2.89 4/ 4/ 3.58 3.52 TX : 2.89 2.91 2.89 2.91 WA : 2.97 3.01 2.95 3.00 3.12 3.07 : US : 3.15 3.07 2.94 2.89 4.45 4.07 3.41 3.37 ------------------------------------------------------------------------------- 1/ Entire month. 2/ Mid-month. 3/ Insufficient sales to establish a price. 4/ Price not published to avoid disclosure of individual buyers. Prices Received for Selected Agricultural Commodities, by Months, United States, 1997 and 1998 ------------------------------------------------------------------------------- : All Wheat : Corn : Soybeans :Beef Cattle 1/: All Hogs Month:------------------------------------------------------------------------- : 1997 :1998 2/:1997 :1998 2/: 1997 :1998 2/: 1997 :1998 2/: 1997 :1998 2/ ------------------------------------------------------------------------------- : ---------- Dollars per Bushel --------- ---- Dollars per Cwt ----- : Jan : 4.02 3.33 2.69 2.56 7.13 6.69 61.40 62.50 53.80 36.00 Feb : 3.89 3.27 2.65 2.55 7.38 6.57 61.90 60.40 52.80 35.70 Mar : 3.93 3.32 2.79 2.54 7.97 6.40 64.80 61.30 49.40 34.80 Apr : 4.10 3.15 2.80 2.41 8.23 6.26 64.80 63.00 53.80 35.60 May : 4.08 3.07 2.69 2.36 8.40 6.28 65.10 62.50 58.20 41.80 Jun : 3.52 2.56 8.16 62.30 57.80 Jul : 3.23 2.42 7.52 62.80 58.90 Aug : 3.56 2.50 7.25 63.90 55.30 Sep : 3.67 2.52 6.72 63.60 50.40 Oct : 3.55 2.54 6.50 63.30 47.30 Nov : 3.50 2.51 6.85 63.30 45.10 Dec : 3.45 2.52 6.71 62.90 41.60 ------------------------------------------------------------------------------- 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 1998 ------------------------------------------------------------------------------ : 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 : 6.46 6.45 4.30 4.20 CA : 4/ 4/ CO : 2.49 2.16 2.42 2.36 GA : 2.98 2.95 6.05 6.27 ID : 2.66 2.39 IL : 2.49 2.45 1.40 5/ 6.39 6.45 4.22 4.10 IN : 2.46 2.40 6.37 6.43 IA : 2.37 2.30 1.78 1.65 6.21 6.19 KS : 2.37 2.28 6.31 6.20 3.72 3.60 KY : 2.58 2.50 6.41 6.50 LA : 6.45 6.45 MI : 2.32 2.30 1.89 1.90 6.12 6.20 MN : 1.77 1.80 2.29 2.30 1.54 1.40 6.14 6.12 MS : 6.33 6.37 MO : 2.42 2.40 6.21 6.35 3.89 3.90 MT : 2.51 2.53 5/ 5/ NE : 2.38 2.30 1.81 1.80 6.09 6.10 3.72 3.65 NC : 2.95 2.85 6.43 6.45 ND : 1.87 1.85 1.20 1.20 OH : 2.41 2.45 1.69 1.70 6.29 6.40 OK : 3.74 3.64 OR : 2.38 2.05 1.83 1.75 PA : 2.91 2.85 1.75 1.87 SD : 2.17 2.13 2.20 2.19 1.57 1.53 6.09 6.15 TN : 2.79 2.70 6.40 6.50 TX : 2.94 2.87 5/ 1.38 4.13 3.87 UT : 2.37 2.17 WA : 1.97 1.85 WI : 2.35 2.30 1.52 1.40 5.70 5.75 WY : 4/ 4/ : US : 2.14 2.16 2.41 2.36 1.61 1.48 6.26 6.28 3.76 3.67 ------------------------------------------------------------------------------ 1/ The Three-State (MN, ND and SD) Feed Barley price for May 1998 is $1.54. 2/ Entire month. 3/ Mid-month. 4/ Price not published to avoid disclosure of individual operations. 5/ Insufficient sales to establish a price. Malting and Feed Barley: Prices Received Selected States, April and May 1998 ------------------------------------------------------------------------------ : Malting Barley : Feed Barley State :----------------------------------------------------------------------- : Apr : May : Apr : May ------------------------------------------------------------------------------ : Dollars per Bushel : ID : 2.95 2.90 2.19 2.05 MN : 2.05 2.10 1.48 1.50 MT : 2.74 2.80 1.96 1.90 ND : 2.20 2.15 1.55 1.55 SD : 2.45 2.35 1.70 1.66 WY : 1/ 1/ 1.90 2.00 ------------------------------------------------------------------------------ 1/ Price not published to avoid disclosure of individual operations. Field Crops: Prices Received, by States, April and May 1998 ------------------------------------------------------------------------------ : 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 : 28.60 27.80 CO : 21.50 21.00 FL : GA : ID : 21.80 21.60 IN : 1.670 KS : 5/ 5/ KY : 1.715 MD : 1.645 MI : 20.00 19.80 MN : 18.30 18.20 13.10 13.60 MO : NE : 20.30 20.00 NC : ND : 17.50 17.80 12.60 13.20 6.22 6.20 OH : OK : SC : SD : 12.70 13.60 5/ 5/ TN : TX : VA : WV : : US : 20.80 21.30 12.60 13.40 6.22 6.20 1.695 ------------------------------------------------------------------------------ 1/ Entire month. 2/ Mid-month. 3/ Based on sales through first half of month. 4/ Marketing year Aug - Jan. 5/ Price not published to avoid disclosure of individual buyers. Field Crops and Apples: Prices Received, by States, April and May 1998 ---------------------------------------------------------------------------- : : 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 : .560 6/ 107.00 109.00 61.00 AR : .611 .623 CA : .649 116.00 116.00 106.00 CO : 91.00 90.00 98.00 GA : .617 .610 ID : 80.00 80.00 55.00 IL : 95.00 100.00 76.00 IA : 99.00 101.00 67.00 KS : 71.00 73.00 65.00 KY : 93.00 110.00 73.00 LA : .607 .621 MI : 101.00 105.00 85.00 .160 MN : 75.00 83.00 57.00 MS : .630 .629 MO : 73.00 107.00 66.00 MT : 70.00 71.00 61.00 NE : 66.00 67.00 54.00 NV : 105.00 106.00 93.00 NM : 118.00 120.00 98.00 NY : 91.00 92.00 89.00 .188 NC : .627 .606 ND : 54.00 57.00 38.00 OH : 118.00 140.00 80.00 .245 OK : 83.00 94.00 66.00 OR : 112.00 115.00 95.00 PA : 131.00 156.00 117.00 SD : 56.00 59.00 41.00 TN : .628 .622 TX : .599 .606 96.00 149.00 60.00 UT : 77.00 77.00 60.00 VA : .170 WA : 114.00 110.00 124.00 .183 WI : 94.00 100.00 70.00 WY : 77.00 78.00 71.00 : US : .622 .621 103.00 108.00 78.00 .182 ---------------------------------------------------------------------------- 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. 6/ Insufficient sales to establish a price. Upland Cotton and Rice: Prices Received and Marketings, United States, May 1998, with Comparisons ---------------------------------------------------------------------------- Item : Unit : Mar 1998 1/ : Apr 1998 1/ :May 1998 2/ ---------------------------------------------------------------------------- : : Cotton, Upland : : Average Price : Dollars/Pound : .634 .622 .621 Marketings 3/ : 1,000 Bales : 1301 545 NA : : Rice : : Average Price : Dollars/Cwt : 9.55 9.30 9.28 Marketings 4/ : 1,000 Cwt : 10474 10802 NA ---------------------------------------------------------------------------- 1/ Entire month. 2/ Based on purchases for the first half of the month. 3/ Expanded data from sample of about 60 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 1998 ------------------------------------------------------------------------------ : : Equivalent Returns Commodity : F.O.B. :----------------------------------------------- And : Packed : Packinghouse-door : On-tree State : Fresh :----------------------------------------------- : : All : Fresh : Process : All : Fresh :Process ------------------------------------------------------------------------------ : Dollars per Box 1/ Grapefruit : AZ : 11.80 4.04 6.36 -0.26 2.10 4.42 -2.20 CA : 14.00 4.35 8.56 -0.26 2.41 6.62 -2.20 FL : 12.30 2.56 4.95 1.43 0.28 3.10 -1.05 White Seedless : 13.70 1.99 5.80 1.20 -0.19 3.95 -1.05 Colored Seedless: 12.00 2.87 4.75 1.60 0.54 2.90 -1.05 : CA-AZ : 13.60 4.31 8.19 -0.26 2.37 6.25 -2.20 : US : 12.50 2.68 5.29 1.35 0.42 3.43 -1.10 : Lemons : CA : 24.70 8.39 16.26 2.08 4.75 12.62 -1.56 : US : 24.70 8.39 16.26 2.08 4.75 12.62 -1.56 : Limes : FL : 22.00 11.50 11.50 6.50 6.50 : Oranges : AZ : Valencia : 10.40 4.49 4.50 1.96 2.41 2.42 -0.12 CA : 19.00 10.51 13.04 1.13 8.49 11.01 -0.89 Navel and Misc : 19.80 10.57 13.78 0.66 8.59 11.80 -1.32 Valencia : 18.10 10.45 12.20 1.96 8.37 10.12 -0.12 FL : Valencia : 12.80 7.21 5.90 7.25 5.35 3.90 5.40 : CA-AZ : Navel and Misc : 19.80 10.57 13.78 0.66 8.59 11.80 -1.32 Valencia : 17.10 9.81 11.23 1.96 7.73 9.15 -0.12 : US : 17.10 7.55 10.93 7.09 5.68 8.90 5.23 : Tangerines : AZ : 12.10 5.46 6.20 -0.08 3.38 4.12 -2.16 CA : 5.40 -0.50 -0.50 -2.58 -2.58 : US : 8.27 2.24 2.37 -0.08 0.16 0.29 -2.16 ------------------------------------------------------------------------------ 1/ Net lbs. per box: Grapefruit-AZ & CA-67, FL-85; Lemons-76; Limes-88; Oranges-AZ & CA-75, FL-90; Tangerines-AZ & CA-75. Potatoes: Prices Received, by States, April and May 1998 ------------------------------------------------------------------------------ : : :: : : State : Apr : May :: State : Apr : May : : :: : : ------------------------------------------------------------------------------ : Dollars per Cwt :: : Dollars per Cwt : :: : AL : 11.40 :: NC : AZ : 9.35 9.30 :: ND - All 1/ : 6.95 6.25 CA - All : 10.90 8.95 :: - Fresh 2/ : 7.00 NA - Winter : 29.00 :: - Processing : 5.35 NA - Spring : 9.65 :: OH : 9.20 - Summer : :: OR : 5.90 5.70 - Fall : 7.40 7.20 :: PA : 9.55 9.55 CO - All 1/ : 4.30 4.00 :: TX : 9.35 - Fresh 2/ : 4.20 NA :: VA : FL : 20.30 13.30 :: WA - All : 5.00 4.95 ID - All 1/ : 4.55 4.45 :: - Processing : 4.90 NA - Fresh 2/ : 3.60 NA :: WI - All 1/ : 6.05 5.95 - Processing : 4.80 NA :: - Fresh 2/ : 3.95 NA ME : 6.95 7.10 :: - Processing : 7.70 NA MI : 7.35 7.95 :: : MN : 6.40 6.45 :: US - All 1/ : 6.17 6.70 NY : 8.40 9.85 :: - Fresh 2/ : 6.58 NA : :: - Processing : 5.34 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 1998 ------------------------------------------------------------------------------ : 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 : 39.40 37.60 64.30 65.00 62.60 63.10 92.50 89.60 AR : 35.30 34.80 72.60 71.80 59.90 57.00 85.70 83.60 CA : 35.50 35.00 64.00 64.50 50.30 51.20 75.00 75.00 CO : 37.00 36.70 66.60 66.70 64.80 64.60 95.00 93.50 FL : 37.30 37.30 74.10 69.20 40.60 39.50 94.20 90.20 GA : 36.20 36.00 71.50 69.80 48.60 47.20 87.10 86.00 ID : 34.60 35.50 69.10 70.40 60.80 62.00 83.00 83.00 IL : 35.60 37.00 64.20 65.70 63.70 65.10 105.00 105.00 IA : 37.80 39.40 63.70 64.30 61.90 62.60 80.50 80.80 KS : 36.50 36.30 68.10 64.60 66.80 63.50 98.00 89.00 KY : 38.00 38.00 73.00 73.00 64.60 64.60 87.00 85.00 LA : 36.40 36.00 74.70 70.00 47.50 46.50 87.20 82.00 MI : 37.20 37.00 54.90 54.00 47.80 47.20 55.00 52.00 MN : 35.60 37.00 63.30 65.00 59.00 60.80 72.50 74.50 MO : 36.30 37.50 78.00 78.00 67.60 67.90 90.80 90.00 MT : 39.90 38.80 79.00 75.70 72.00 60.90 88.90 86.00 NE : 35.90 36.60 65.60 66.50 64.70 65.60 92.60 88.60 NM : 40.80 39.50 76.90 73.30 64.60 62.10 94.30 91.40 ND : 38.90 40.00 74.30 74.50 66.80 64.20 87.70 86.00 OH : 35.30 37.00 63.50 65.00 60.70 62.20 78.00 77.00 OK : 36.50 35.40 75.10 73.50 72.50 70.80 92.40 90.80 OR : 38.90 40.00 76.30 77.60 65.10 66.30 84.60 85.30 PA : 36.70 37.30 60.70 61.80 54.50 55.40 80.00 84.00 SD : 37.40 38.70 71.10 71.90 66.70 65.90 90.00 91.00 TN : 36.80 36.60 76.50 73.70 60.60 58.90 88.10 82.50 TX : 35.30 33.60 67.20 66.50 64.30 63.50 94.30 90.90 VA : 33.70 34.50 70.60 71.90 66.50 65.90 82.90 84.70 WI : 36.60 37.60 61.20 63.10 46.90 48.30 99.80 102.00 WY : 38.50 38.70 76.00 75.60 71.90 68.20 94.30 96.00 : US : 36.20 36.50 66.30 65.70 63.00 62.50 90.80 89.60 ------------------------------------------------------------------------------ 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 1998 ------------------------------------------------------------------------------ : Sows : Barrows and Gilts : All Hogs State :----------------------------------------------------------------------- : Apr 1/ : May 2/ : Apr 1/ : May 2/ : Apr 1/ : May 2/ ------------------------------------------------------------------------------ : Dollars per Cwt : GA : 27.10 28.00 35.80 41.60 34.90 40.20 IL : 26.20 28.00 34.80 41.10 34.20 40.10 IN : 27.10 28.50 35.30 43.50 34.50 42.00 IA : 28.20 31.70 37.30 43.50 37.10 43.30 KS : 27.90 31.40 34.40 42.80 33.50 41.10 KY : 27.00 27.00 36.00 42.00 35.60 41.40 MI : 25.50 27.50 37.50 45.00 36.50 43.60 MN : 27.90 30.00 35.70 42.00 35.40 41.50 MO : 26.70 27.50 34.40 38.50 33.60 37.80 NE : 28.10 30.60 37.80 44.10 37.70 43.80 NC : 28.70 29.10 35.40 43.80 35.30 43.70 OH : 26.60 28.00 37.00 41.00 36.50 40.40 PA : 23.80 24.60 34.30 37.70 32.70 35.70 SC : 26.80 27.00 34.80 40.40 34.30 39.60 SD : 26.60 29.30 37.50 41.50 36.40 40.20 TN : 26.00 28.30 34.60 40.00 33.70 38.80 TX : 23.40 25.30 32.50 36.00 31.20 34.50 VA : 26.20 26.90 36.60 44.50 36.40 44.10 WI : 24.30 25.80 33.80 41.10 32.60 39.10 : US : 26.90 28.50 36.10 42.50 35.60 41.80 ------------------------------------------------------------------------------ 1/ Entire month 2/ Mid-month. Sheep and Poultry: Prices Received, by States, April and May 1998 ------------------------------------------------------------------------------ : 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 : .370 .350 AZ : AR : .36 .350 .340 CA : 35.50 69.00 .37 .370 .370 CO : 33.90 62.80 CT : .350 DE : .375 FL : .400 GA : .390 .388 ID : 39.30 57.00 IN : .37 .460 IA : 30.40 61.30 .39 .263 KS : 30.00 63.00 ME : .470 MD : .375 MI : .320 MN : 30.20 65.00 .35 .350 MS : .375 .450 MO : .36 .260 MT : 35.10 70.30 NE : 29.90 78.00 NM : NY : .460 NC : .34 .370 .300 OH : 32.20 77.90 .458 OR : 34.40 64.90 PA : .35 .370 .460 SC : .440 SD : 33.40 66.90 TX : 41.80 67.30 .350 .350 UT : 37.00 70.00 VA : .34 .370 WA : .440 WY : 33.20 65.60 : US : 35.40 66.10 .354 .369 .390 ------------------------------------------------------------------------------ 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/ Liveweight equivalent price. Derived from ready-to-cook (RTC) prices using the following formula: (RTC price minus processing cost) * (dressing percentage) = liveweight equivalent price. 5/ Market (table) eggs. Milk and Milk Cows: Prices Received, by States, April and May 1998 ------------------------------------------------------------------------------ : 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 : 16.20 3.59 16.20 3.59 15.70 3.57 AZ : 13.60 3.57 13.60 3.57 13.00 3.57 AR : 15.80 3.70 15.80 3.70 15.30 3.70 CA : 13.20 3.65 12.50 3.93 13.19 3.66 13.00 3.60 CO : 13.90 3.55 13.90 3.55 13.50 3.52 FL : 17.00 3.49 17.00 3.49 16.50 3.50 GA : 15.70 3.53 15.70 3.53 14.90 3.50 ID : 12.30 3.53 11.90 3.66 12.30 3.54 11.30 3.46 IL : 13.70 3.71 12.90 3.77 13.70 3.71 13.50 3.68 IN : 14.20 3.64 11.20 3.67 14.00 3.64 13.90 3.58 IA : 13.40 3.73 12.10 3.72 13.30 3.73 12.90 3.65 KS : 13.80 3.67 12.10 3.74 13.70 3.67 13.30 3.59 KY : 14.80 3.55 11.50 3.63 14.70 3.55 14.20 3.50 LA : 15.70 3.38 15.70 3.38 15.30 3.40 MD : 14.90 3.67 14.90 3.67 14.40 3.61 MI : 14.50 3.64 11.30 3.73 14.50 3.64 13.60 3.59 MN : 13.55 3.70 12.00 3.73 13.43 3.70 12.80 3.62 MS : 15.70 3.51 15.70 3.51 15.20 3.50 MO : 15.40 3.61 12.00 3.69 15.20 3.61 15.00 3.51 NE : 13.60 3.71 12.50 3.74 13.50 3.71 12.80 3.60 NM : 13.00 3.52 13.00 3.52 12.90 3.44 NY : 14.10 3.66 14.10 3.66 13.20 3.62 NC : 16.40 3.64 11.30 3.81 16.30 3.64 15.90 3.62 ND : 13.10 3.69 11.70 3.68 12.50 3.69 12.10 3.58 OH : 14.40 3.69 11.70 3.78 14.20 3.70 13.90 3.66 OK : 14.50 3.56 14.50 3.56 14.00 3.49 OR : 14.00 3.64 13.10 3.90 14.00 3.64 13.50 3.58 PA : 15.20 3.65 12.20 3.93 15.20 3.65 15.10 3.60 TN : 14.90 3.57 11.30 3.64 14.80 3.57 14.30 3.50 TX : 14.60 3.52 14.60 3.52 14.40 3.48 UT : 13.00 3.58 12.10 3.67 12.90 3.59 12.80 3.52 VT : 15.00 3.77 15.00 3.77 14.50 3.78 VA : 14.90 3.65 12.20 3.53 14.80 3.65 14.30 3.55 WA : 14.00 3.64 14.00 3.64 13.60 3.59 WI : 13.53 3.75 12.44 3.84 13.45 3.76 12.50 3.71 : US : 14.00 3.65 12.10 3.77 14.00 3.65 13.40 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 1998, with Comparisons ------------------------------------------------------------------------------ Item : May 1997 : Apr 1998 : May 1998 ------------------------------------------------------------------------------ : Parity Equivalent.........Dol per Cwt : 26.97 26.63 26.54 Average Price F.O.B.......Dol per Cwt : 10.90 12.10 2/11.60 Average Fat Test of Milk..Percent : 3.72 3.77 2/3.70 ------------------------------------------------------------------------------ 1/ The parity price equivalent during 1998 is 90.9 percent of the parity price of all milk sold to plants, compared with 90.8 percent in 1997. For additional details, see January 1998 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 1998, 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 : : 1997 : 1998 : 1998 : 1997: 1998: 1998 ------------------------------------------------------------------------------- : ----------- Dollars ---------- ---- Percents ---- Basic Commodities : All Wheat, Bu : .632 9.58 9.66 9.61 43 33 32 Rice, Cwt : 1.76 26.00 26.90 26.80 39 35 35 Corn, Bu : .429 6.43 6.56 6.52 42 37 36 Cotton, Lb : American Upland : .112 1.72 1.71 1.70 40 36 37 Extra Long Staple : .147 2.31 2.25 2.23 Peanuts, Lb : .0422 .661 .645 .641 Tobacco, By Type, Lb : Flue-Cured 11-14 : .249 3.85 3.80 3.78 VA Fire-Cured, 21 : .243 3.58 3.71 3.69 KY-TN Fire-Cured, 22-23 : .311 4.66 4.75 4.73 Burley, 31 : .262 3.98 4.00 3.98 43 Maryland, 32 : .217 3.46 3.32 3.30 50 Dark Air-Cured, 35-36 : .261 3.89 3.99 3.97 Sun-Cured, 37 : .218 3.21 3.33 3.31 PA Seedleaf, 41 : .186 2.71 2.84 2.83 Cigar Filler & Binder, : 42-44, 54-55 .213 3.20 3.25 3.24 Puerto Rican Filler, 46 : .173 2.66 2.64 2.63 Cigar Binder, 51-52 : .489 6.60 7.47 7.43 : Designated Nonbasic : All Milk, Sold to : Plants, Per Cwt : 1.92 29.70 29.30 29.20 2/43 2/48 2/47 Honey, Extracted, Lb : 3/.0859 1.32 1.31 1.31 : Wool and Mohair : Wool, Lb : .270 4.15 4.13 4.10 Mohair, Lb : .721 11.10 11.00 11.00 : Other Nonbasic : Barley, Bu : .386 5.86 5.90 5.87 39 36 37 Cottonseed, Ton : 15.70 235.00 240.00 239.00 Dry Edible Beans, Cwt : 3.29 50.40 50.30 50.00 44 41 43 Flaxseed, Bu : .782 11.50 11.90 11.90 56 52 52 Oats, Bu : .237 3.65 3.62 3.60 51 44 41 Potatoes, Cwt : .839 12.90 12.80 12.80 41 48 52 Rye, Bu : .325 4.66 4.97 4.94 Sorghum Grain, Cwt : .675 10.20 10.30 10.30 41 37 36 Soybeans, Bu : .924 13.90 14.10 14.00 60 44 45 Sweetpotatoes, Cwt : 1.61 19.20 24.60 24.50 Apples, Fresh, Lb 5/ : .0285 .446 .435 .433 32 44 42 Citrus (equiv on-tree),box: Grapefruit : .704 10.80 10.80 10.70 2 13 4 Lemons : 1.15 17.70 17.60 17.50 89 12 27 Limes (FL) : 1.21 20.00 18.50 18.40 18 132 35 Oranges : .900 13.80 13.80 13.70 37 42 41 Tangerines : 1.90 29.20 29.00 28.90 40 44 1 Temples (FL) : .755 11.60 11.50 11.50 Beef Cattle, Cwt : 9.90 154.00 151.00 150.00 42 42 42 Calves, Cwt : 12.60 195.00 193.00 192.00 43 47 47 Hogs, Cwt : 6.72 104.00 103.00 102.00 56 35 41 Lambs, Cwt : 10.10 154.00 154.00 154.00 59 43 Sheep, Cwt : 4.12 62.40 63.00 62.60 54 56 Eggs, Doz : .0946 1.44 1.45 1.44 2/43 2/42 2/37 Turkeys, Live, Lb : .0575 .881 .879 .874 47 41 41 ------------------------------------------------------------------------------- --continued Parity Prices Based on Data for May 1998, 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 : .236 3.59 : Processing 6/ : Spearmint Oil, Lb: 1.88 28.60 : Excl Dried : Tobacco, Lb : : Clingstone, : Type 61 : 2.58 39.20 : CA, Ton : 31.40 477.00 : : Pears, Ton : Noncitrus Fruit : : Fresh 5/ : 51.50 783.00 Apples, Ton 7/ : : Dried, CA 7/ : 142.00 2160.00 Processing : 18.30 278.00 : Plums, CA, Ton : Apricots, Ton : : Fresh, Equiv : Fresh 8/ : 140.00 2130.00 : on-Tree : 53.10 807.00 Dried, CA : 297.00 4510.00 : Prunes, Dried, : Avocados, Ton 8/ : 141.00 2140.00 : CA, Ton 7/ : 122.00 1850.00 Cherries : : Prunes and Plums,: Sweet, Ton : 153.00 2330.00 : Excl CA, Ton : Tart, Lb : .0363 .552 : Fresh 10/ : 58.20 885.00 Cranberry, Bbl 6/: 7.10 108.00 : Processing 7/ : Dates, CA, Ton 8/: 126.00 1920.00 : Excl Dried : 21.70 330.00 Grapes, Ton : : : Raisin Variety : 136.00 2070.00 :Tree Nuts 11/ : Other Dried : 55.00 836.00 : Almonds, Lb : .215 3.27 Kiwifruit, Ton : 75.80 1150.00 : Hazelnuts, Ton : 115.00 1750.00 Nectarines : : Pistachio, Lb : .168 2.55 Fresh, Calif, : : Walnuts, Ton : 148.00 2250.00 Ton 8/ : 61.40 933.00 : : Olives, CA : :Vegetables, Cwt 12/: Canning, Ton 6/: 93.70 1420.00 : Fresh : Papayas (HA) Lb : .0459 .698 : Carrots 9/ : 1.75 26.60 Peaches : : Cauliflower 9/ : 4.21 64.00 Fresh, Lb 5/ : .0399 .606 : Celery 9/ : 1.86 28.30 Dried, CA, : : Honeydew Melons : 2.45 37.20 Ton : 125.00 1900.00 : Lettuce : 2.14 32.50 : : Onions 9/ : 1.72 26.10 : : Tomatoes : 4.38 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 Class, Type, State, and United States, 1996-97 1/ ------------------------------------------------------------------------------ : : : Class and State : Type : 1996 : 1997 : : : ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : 1.860 1.710 VA : 11 : 1.871 1.727 US : 11 : 1.864 1.716 Eastern NC Belt : : NC : 12 : 1.830 1.720 NC Border & SC Belt : : NC : 13 : 1.810 1.720 SC : 13 : 1.822 1.735 US : 13 : 1.817 1.728 GA-FL Belt : : FL : 14 : 1.808 1.721 GA : 14 : 1.813 1.712 US : 14 : 1.812 1.714 Total Flue-cured : 11-14 : 1.834 1.720 : : Fire-cured: : : VA Belt : : VA : 21 : 1.790 2.125 Eastern District : : KY : 22 : 2.246 2.268 TN : 22 : 2.252 2.260 US : 22 : 2.250 2.263 Western District : : KY : 23 : 2.233 2.242 TN : 23 : 2.227 2.226 US : 23 : 2.232 2.240 KY-TN Fire-cured : 22-23 : 2.245 2.256 Total Fire-cured : 21-23 : 2.227 2.250 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.920 1.870 KY : 31 : 1.922 1.886 MO : 31 : 1.918 1.895 NC : 31 : 1.920 1.860 OH : 31 : 1.926 1.869 TN : 31 : 1.920 1.886 VA : 31 : 1.920 1.903 WV : 31 : 1.923 1.878 US : 31 : 1.922 1.885 Southern MD Belt : : MD : 32 : 1.920 1.720 PA : 32 : 1.750 1.300 US : 32 : 1.856 1.585 Total Light Air-cured : 31-32 : 1.920 1.877 : : Dark Air-cured: : : One-Sucker Belt : : KY : 35 : 1.945 2.011 TN : 35 : 1.915 2.003 US : 35 : 1.940 2.010 Green River Belt : : KY : 36 : 1.979 2.034 KY-TN Dark Air-cured : 35-36 : 1.952 2.017 ------------------------------------------------------------------------------ See footnotes at end of table. -- continued Tobacco: Marketing Year Average Price, by Class, Type, State, and United States, 1996-97 1/ (continued) ------------------------------------------------------------------------------ : : : Class and State : Type : 1996 : 1997 : : : ------------------------------------------------------------------------------ : : Dollars per Pound : : VA Sun-cured Belt : : VA : 37 : 1.782 1.908 Total Dark Air-cured : 35-37 : 1.950 2.016 : : All Cures Other Than Cigar : 11-37 : 1.877 1.793 : : : : Cigar Filler: : : PA Seedleaf : : PA : 41 : 1.550 1.600 : : Cigar Binder: : : CT Valley Broadleaf : : CT : 51 : 6.200 6.000 MA : 51 : 6.550 9.500 US : 51 : 6.279 7.414 WI Binder, Southern : : WI : 54 : 1.480 1.500 WI Binder, Northern : : WI : 55 : 1.500 1.520 Total WI Binder : 54-55 : 1.486 1.505 Total Binder : 51-55 : 3.211 3.784 : : Cigar Wrapper: : : CT Valley Shade-grown : : CT 2/ : 61 : MA 2/ : 61 : US 2/ : 61 : : : Total Cigar Types 2/ : 41-55 : 2.317 2.669 : : US All Tobacco 2/ : 11-55 : 1.882 1.803 ------------------------------------------------------------------------------ 1/ 1997 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, 1996-97 1/ ------------------------------------------------------------------------------ State : 1996 : 1997 : State : 1996 : 1997 ------------------------------------------------------------------------------ : Dollars per Pound : : Dollars per Pound : : : CT 2/ : 6.200 6.000 : NC : 1.838 1.720 FL : 1.808 1.721 : OH : 1.926 1.869 GA : 1.813 1.712 : PA : 1.629 1.489 IN : 1.920 1.870 : SC : 1.822 1.735 KY : 1.940 1.903 : TN : 1.982 1.952 MD : 1.920 1.720 : VA : 1.878 1.765 MA 2/ : 6.550 9.500 : WV : 1.923 1.878 MO : 1.918 1.895 : WI : 1.486 1.505 ------------------------------------------------------------------------------ 1/ 1997 revised. 2/ CT and MA Type 61 not published to avoid disclosure. Tobacco: Prices Received Monthly, by State and United States, July 1996 - April 1997 ------------------------------------------------------------------------ : 1996 : 1997 State :--------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr 1/ ------------------------------------------------------------------------ : 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/ Insufficient sales to establish a price. Tobacco: Prices Received Monthly, by State and United States, July 1997 - April 1998 1/ ------------------------------------------------------------------------ : 1997 : 1998 State :--------------------------------------------------------------- : Jul : Aug : Sep : Oct : Nov : Dec : Jan : Feb : Mar : Apr ------------------------------------------------------------------------ : Dollars per Pound : FL : 1.555 1.655 1.820 1.790 GA : 1.590 1.640 1.800 1.760 IN : 1.900 1.915 1.875 1.805 1.770 1.670 KY : 1.905 1.925 1.915 1.880 1.775 1.715 MD : 1.770 1.645 MO : 1.890 1.895 1.895 NC : 1.530 1.565 1.750 1.780 1.760 1.880 1.815 OH : 1.875 1.885 1.875 1.810 1.600 SC : 1.630 1.670 1.800 1.795 TN : 1.910 1.910 2.000 2.085 2.180 VA : 1.600 1.690 1.795 1.810 1.935 1.880 WV : 1.870 1.900 1.850 1.695 : US : 1.580 1.595 1.755 1.785 1.845 1.920 1.920 1.915 1.810 1.695 ------------------------------------------------------------------------ 1/ Revised. Tobacco: Prices Received Monthly by Class, Type, State, and United States, July 1996 - April 1997 ------------------------------------------------------------------------------ : : 1996 Class 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 Classes : 11-37: 1.600 1.745 1.890 1.910 1.925 1.925 ------------------------------------------------------------------------------ -- continued Tobacco: Prices Received Monthly by Class, Type, State, and United States, July 1996 - April 1997 (continued) ------------------------------------------------------------------------------ : : 1997 Class and State : Type :----------------------------------------------- : : Jan : Feb : Mar : Apr 1/ ------------------------------------------------------------------------------ : : 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 1.940 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 Classes : 11-37: 1.930 1.910 1.930 ------------------------------------------------------------------------------ 1/ Insufficient sales to establish a price. Tobacco: Prices Received Monthly by Class, Type, State, and United States, July 1997 - April 1998 1/ ------------------------------------------------------------------------------ : : 1997 Class and State : Type :----------------------------------------------- : : Jul : Aug : Sep : Oct : Nov : Dec ------------------------------------------------------------------------------ : : Dollars per Pound Flue-cured: : : Old Belts : : NC : 11 : 1.510 1.680 1.790 1.760 VA : 11 : 1.600 1.690 1.795 1.780 US : 11 : 1.545 1.685 1.790 1.765 Eastern NC Belt : : NC : 12 : 1.540 1.565 1.765 1.780 1.750 NC Border & SC Belt : : NC : 13 : 1.520 1.620 1.790 1.780 1.720 SC : 13 : 1.630 1.670 1.805 1.795 US : 13 : 1.595 1.650 1.795 1.785 1.720 GA-FL Belt : : FL : 14 : 1.555 1.655 1.820 1.790 GA : 14 : 1.590 1.640 1.800 1.760 US : 14 : 1.585 1.645 1.805 1.765 Total Flue-cured : 11-14: 1.580 1.595 1.755 1.785 1.760 : : Fire-cured: : : VA Belt : : VA : 21 : 2.120 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: 2.120 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.900 1.915 KY : 31 : 1.905 1.920 MO : 31 : 1.890 1.895 NC : 31 : 1.870 1.880 OH : 31 : 1.875 1.885 TN : 31 : 1.910 1.910 VA : 31 : 1.910 1.915 WV : 31 : 1.870 1.900 US : 31 : 1.905 1.915 Southern MD Belt : : MD : 32 : Total Light Air-cured : 31-32: 1.905 1.915 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 2.050 TN : 35 : 2.065 US : 35 : 2.055 Green River Belt : : KY : 36 : 2.090 KY-TN Dark Air-cured : 35-36: 2.065 VA Sun-cured Belt : : VA : 37 : 1.900 Total Dark Air-cured : 35-37: 2.060 : : Total All Classes : 11-37: 1.580 1.595 1.755 1.785 1.845 1.920 ------------------------------------------------------------------------------ See footnotes at end of table. -- continued Tobacco: Prices Received Monthly by Class, Type, State and United States, July 1997 - April 1998 1/ (continued) ------------------------------------------------------------------------------ : : 1998 Class 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 : 2.140 Eastern District : : KY : 22 : 2.435 2.210 2.025 3.065 TN : 22 : 2.400 2.305 2.260 US : 22 : 2.410 2.270 2.185 3.065 Western District : : KY : 23 : 2.340 2.180 1.950 TN : 23 : 2.340 2.180 1.950 US : 23 : 2.340 2.180 1.950 KY-TN Fire-cured : 22-23: 2.385 2.245 2.150 3.065 Total Fire-cured : 21-23: 2.380 2.245 2.150 3.065 : : Air-cured: : : Light Air-cured: : : Burley : : IN : 31 : 1.875 1.805 1.770 1.670 KY : 31 : 1.885 1.810 1.755 1.700 MO : 31 : 1.895 NC : 31 : 1.815 1.570 OH : 31 : 1.875 1.810 1.600 TN : 31 : 1.855 1.675 1.700 VA : 31 : 1.845 WV : 31 : 1.850 1.695 US : 31 : 1.880 1.800 1.755 1.700 Southern MD Belt : : MD : 32 : 1.770 1.645 Total Light Air-cured : 31-32: 1.880 1.800 1.760 1.685 : : Dark Air-cured: : : One Sucker Belt : : KY : 35 : 1.970 1.630 TN : 35 : 1.910 1.715 US : 35 : 1.960 1.660 Green River Belt : : KY : 36 : 2.010 1.850 KY-TN Dark Air-cured : 35-36: 1.980 1.770 VA Sun-cured Belt : : VA : 37 : 1.960 Total Dark Air-cured : 35-37: 1.980 1.770 : : Total All Classes : 11-37: 1.920 1.915 1.810 1.695 ------------------------------------------------------------------------------ 1/ Revised. Reliability of Prices Received 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 by Farmers The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) was 116 (1990-92=100), unchanged from April 1998 but 1.7 percent below May 1997. Production Index: The farm production, goods, and services index for May 1998, at 114, was the same as last month but down 3.4 percent from a year ago. Since April, lower prices for feed concentrates, feeder cattle, complete feeds, feed supplements, nitrogen fertilizer, and feed grains were offset by higher prices for diesel fuel, gasoline, mixed fertilizers, feeder pigs, and alfalfa hay. Feed: At 107, the feed index was 3.6 percent below April and 17 percent less than last May. Since April, prices were lower for all feed items except barley and alfalfa hay. Lower prices for feed concentrates and complete feeds contributed most to the index decline. Livestock and Poultry: The index for livestock and poultry purchases was 91, down 3.2 percent from last month and 5.2 percent below last year. Lower May feeder cattle and calf prices more than offset higher feeder pig prices. Feeder cattle and calf prices, at $77.50 per cwt, were down $2.80 from April. May feeder pig prices rose $2.50 per cwt, to $66.50. Fertilizer: The fertilizer index, at 113, was 0.9 percent below April and fell 8.1 percent from May a year ago. Since April, lower prices for nitrogen materials more than offset slightly higher prices for mixed fertilizers and phosphate and potash materials. Agricultural Chemicals: At 121, the chemical index was down 0.8 percent from last month but increased 0.8 percent from last year. Prices were lower in May for herbicides while prices for insecticides and fungicides were marginally higher. Fuels: The fuels index, at 93, was up 2.2 percent from a month earlier but 9.7 percent below May 1997. Compared to last month, the index increased due to higher diesel fuel and gasoline prices. LP gas prices were down slightly. Farm Machinery: The May farm machinery index was 132, unchanged from April but 3.1 percent above last May. Since April, self-propelled machinery and other machinery prices were marginally higher but not enough to change the index. Consumer Price Index: The April 1998 Consumer Price Index for all urban consumers (CPI-U) rose 0.2 percent before seasonal adjustment to a level of 162.5 (1982-84=100). This compares to the March index of 162.2. For the 12-month period ending in April, the overall index has increased 1.4 percent. Index Numbers of Prices Paid by Farmers and Related Parity Ratios United States, May 1998 With Comparisons -------------------------------------------------------------------------------- : 1910-14 = 100 : 1990-92 = 100 Indexes :---------------------------------------------- and : 1997 : 1998 : 1997 : 1998 Ratios :---------------------------------------------- : May : Apr : May : May : Apr : May -------------------------------------------------------------------------------- Prices Paid by Farmers for : Commodities & Services, : Interest, Taxes, & Wage : Rates (PPITW) : 1546 1528 1520 118 116 116 Production : 1144 *1110 1101 118 114 114 Feed : 631 *544 524 129 111 107 Livestock and Poultry : 1226 1199 1169 96 94 91 Seeds : 1186 1216 1216 120 123 123 Fertilizer : 453 416 415 123 114 113 Agricultural Chemicals : 740 753 750 120 122 121 Fuels : 797 699 721 103 91 93 Supplies & Repairs : 837 *841 841 118 *119 119 Autos & Trucks : 3164 *3171 3173 119 119 119 Farm Machinery : 3208 3300 3308 128 132 132 Building Material : 1609 *1607 1611 118 118 119 Farm Services & Rent : 1409 *1419 1419 Farm Services : 116 116 116 Rent : 121 124 124 Interest 1/ : 2679 2702 2702 107 108 108 Taxes 2/ : 3093 3185 3185 115 119 119 Wage Rates : 4549 *4846 4846 122 *130 130 Production, Interest, Taxes, : & Wage Rates (PITW) : 1578 *1550 1541 117 115 115 Family Living-CPI 3/ : 1521 *1543 1543 119 *121 121 -------------------------------------------------------------------------------- Ratio (Received\Paid) : 92 *90 89 Parity Ratio 4/ : 44 *43 43 Parity Ratio Adjusted 5/ : 46 45 45 PPITW Adjusted for : Productivity 6/ : 1025 *1042 1042 -------------------------------------------------------------------------------- Crop Sector (PPITW) : 118 119 119 Livestock Sector (PPITW) : 117 114 113 -------------------------------------------------------------------------------- Farm Sector (Production) : 116 107 104 Non-Farm Sector (Production) : 119 118 118 -------------------------------------------------------------------------------- * 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 1.037 for 1998 and the revised factor is 1.040 for 1997. 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 1998 With Comparisons -------------------------------------------------------------------------------- : : Input Indexes : Relative Weights :----------------------------- Index : 5-Year Moving Average : 1997 : 1998 :----------------------------------------------------- : 1997 : 1998 : May : Apr : May -------------------------------------------------------------------------------- : ---- Percent --- ----- (1990-92=100) ---- : Production Items : 66.8 67.0 118 114 114 : Feed : 11.4 11.6 129 111 107 Feed Grains : 2.1 2.1 114 *102 100 Complete Feeds : 5.0 5.1 128 115 112 Hay/Forages : 1.3 1.3 142 126 128 Concentrates : 1.8 1.8 146 110 98 Supplements : 1.2 1.3 121 100 95 Livestock & Poultry : 7.9 7.5 96 94 91 Feeder Cattle : 6.2 5.9 92 95 92 Feeder Pigs : .6 .6 128 70 72 Milk Cow Replacements : .6 .6 98 98 98 Poultry : .5 .4 106 106 106 Seeds : 2.7 2.8 120 123 123 Field Crops : 2.5 2.5 119 123 123 Grasses/Legumes : .2 .3 130 123 123 Fertilizer : 4.7 4.8 123 114 113 Mixed Fertilizer : 2.1 2.1 118 117 118 Nitrogen : 2.0 2.0 133 111 108 Potash & Phosphate : .6 .7 110 114 114 Agricultural Chemicals : 3.6 3.7 120 122 121 Herbicides : 2.3 2.4 118 118 117 Insecticides : .8 .8 130 136 136 Fungicides/Other : .5 .5 113 117 117 Fuels : 2.8 2.7 103 91 93 Diesel : 1.5 1.4 97 84 88 Gasoline : 1.0 1.0 114 100 104 LP Gas : .3 .3 99 92 85 Farm Supplies & Repairs : 5.7 5.4 118 *119 119 Supplies : 1.9 1.8 115 115 115 Repairs : 3.8 3.6 119 120 120 Autos & Trucks : 1.3 1.4 119 119 119 Autos : .2 .2 114 113 113 Trucks : 1.1 1.2 120 120 120 Farm Machinery : 4.2 4.1 128 132 132 Tractors : .9 .9 126 130 130 Self-Propelled : 1.7 1.6 127 131 132 Other Machinery : 1.6 1.6 130 133 133 Building Materials : 2.6 2.7 118 118 119 Farm Services : 11.9 12.2 116 116 116 Custom Rates : 1.2 1.3 115 115 115 Other Services : 10.7 10.9 116 116 116 Rent : 8.0 8.1 121 124 124 Cash : 3.6 3.6 135 140 140 Share : 4.4 4.5 111 111 111 -------------------------------------------------------------------------------- * Revised. Feed Price Ratios: United States, May 1998 With Comparisons ---------------------------------------------------------------------------------- : 1997 : 1998 Feed Price Ratio 1/ :----------------------------- : May : Apr : May ---------------------------------------------------------------------------------- : Broiler-Feed: Pounds of Broiler Grower equal in : value to 1 pound of broiler live weight : 4.2 *5.3 5.4 : Market Egg Feed: Pounds of Laying Feed equal in : value to 1 dozen eggs : *7.1 *8.5 6.8 : Hog-Corn: Bushels of Corn equal in value to : 100 pounds of hog, live weight : 21.6 *14.5 17.7 : Milk-Feed: Pounds of 16% Mixed Dairy Feed equal : in value to 1 pound of Whole Milk : *2.16 *2.70 2.58 : Steer-Heifer-Feed-Corn: Bushels of Corn equal : in value to 100 pounds of Steer & Heifers, : live weight : 25.4 *27.5 27.8 : Turkey-Feed: Pounds of Turkey Grower equal in : value to 1 pound of Turkey, live weight : 5.3 *5.7 5.8 ----------------------------------------------------------------------------------- 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 1998 With Comparisons ----------------------------------------------------------------------------------- : : 1997 : 1998 Commodity : Unit :------------------------------------------------ : : May : Apr : May ----------------------------------------------------------------------------------- Broilers, Live : Lb : .368 .365 .369 Eggs, Market : Doz : .506 .496 .390 : : Hogs, All : Cwt : 58.20 *35.60 41.80 Milk, All : Cwt : 12.70 *14.00 13.40 : : Steers and Heifers : Cwt : 68.30 *66.30 65.70 Turkeys, Live : Lb : .413 .357 .354 : : Corn : Bu : 2.69 *2.41 2.36 Hay, Alfalfa, Baled : Ton : 112.30 105.00 108.00 : : Soybeans : Bu : 8.40 *6.26 6.28 Wheat, All : Bu : 4.08 *3.15 3.07 ----------------------------------------------------------------------------------- * Revised. Feeder Livestock: Prices Paid, United States, May 1998 With Comparisons ---------------------------------------------------------------------------------- : : 1997 : 1998 ITEM : Unit :--------------------------------------------------- : : May : Apr : May ----------------------------------------------------------------------------------- : : Dollars Feeders and Stockers : : Cattle and Calves : Cwt : 77.50 80.30 77.50 : : Feeder Pigs : Cwt : 118.00 64.00 66.50 ----------------------------------------------------------------------------------- Feed Price Ratios, Monthly, United States, January 1995 - May 1998 1/ ------------------------------------------------------------------------------- : : : : : : : : : : : : : Year : Jan : Feb : Mar : Apr : May :Jun : Jul : Aug: Sep : Oct: Nov : Dec : Avg : : : : : : : : : : : : : 2/ ------------------------------------------------------------------------------- : Broiler-Feed Ratio 3/ : 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 5.1 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 : 5.0 4.8 4.4 4.2 4.2 4.5 5.1 5.2 5.2 4.8 4.6 4.4 4.7 1998 : 4.5 4.8 5.0 5.3 5.4 : : Market Egg-Feed Ratios 4/ : 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 11.3 8.6 1997 :10.1 9.9 8.6 7.4 7.1 6.6 8.2 7.8 9.3 8.7 11.4 12.9 9.0 1998 :10.1 8.3 9.4 8.5 6.8 : : Turkey-Feed Ratio 5/ : 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 6.2 6.4 6.1 5.3 1997 : 5.4 5.1 5.0 5.1 5.3 5.6 6.0 5.9 6.1 6.2 6.3 5.7 5.7 1998 : 5.4 5.2 5.4 5.7 5.8 : : Milk-Feed Ratio 6/ : 1995 : 2.77 2.73 2.71 2.60 2.52 2.48 2.40 2.50 2.56 2.62 2.69 2.56 2.59 1996 : 2.59 2.42 2.35 2.12 2.06 2.17 2.19 2.28 2.64 2.98 2.85 2.70 2.44 1997 : 2.42 2.35 2.27 2.16 2.16 2.11 2.25 2.34 2.44 2.60 2.72 2.76 2.38 1998 : 2.73 2.74 2.72 2.70 2.58 : : Hog-Corn Ratio 7/ : 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 19.3 20.5 21.1 15.4 1997 :20.0 19.6 17.7 19.2 21.6 22.6 24.3 22.1 20.0 18.6 18.0 16.5 20.0 1998 :14.1 14.0 13.7 14.5 17.7 : : Steer & Heifer-Corn Feed Ratio 7/ : 1995 :32.6 32.3 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 24.6 24.3 24.3 25.4 25.4 27.0 26.6 26.6 26.5 27.1 26.5 25.7 1998 :25.8 24.8 25.3 27.5 27.8 -------------------------------------------------------------------------------- 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 8,400 firms are randomly selected from lists by type of item sold with an average response rate in the range of 80-85 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 Prices Paid Survey is summarized as a nonprobability survey. Average prices reported are aggregated to the region and U.S. level using weights available from expenditure data and other administrative sources. Price recommendations are prepared by the State Statistical Offices and Headquarters for review by the Agricultural Statistics Board in Washington, D.C. Also, the change in price level for individual items surveyed are combined to the regional and U.S. levels and are published as prices paid indexes referenced to a specific base period. Prices paid indexes for new autos and trucks, building materials, farm supplies, motor supplies, and marketing containers are updated based on price changes measured in selected Bureau of Labor Statistics (BLS) indexes. Revisions: Any revisions are published in the monthly and in annual issues of "Agricultural Prices". The basis for revision must be supported by additional data that directly affect the level of the estimate. More revisions are likely in April when separate prices paid surveys are conducted, in lieu of BLS indexes, by the USDA to measure price change. Reliability: Current methods of summarization in April are not designed directly to calculate sampling errors. However, analytical measures approximate the U.S. relative sampling errors for major items around 10 percent. Any nonsampling errors are attributed to such things as the inability to obtain correct information, differences in interpreting questions or definitions, mistakes in coding or processing the data, etc. Efforts are made at each step in the survey process to minimize these nonsampling errors. Program Change: Effective January 1, 1995, the National Agricultural Statistics Service updated the weights and changed the construction of its prices paid and received by farmers indexes. A Federal Register Notice dated October 28, 1994 discussed these program modifications. A 1990-92 reference and base period replaced the 1977 reference and 1971-73 base weight period. Five-year moving average weights replaced the current fixed 1971-73 base period weights. The 1910-14=100 price indexes, required by statute for computing parity prices, were linked forward based on the changes in the new 1990-92=100 indexes. The new indexes were constructed by multiplying the ratios of the current prices to the base period prices by the moving average weights (adjusted for seasonal marketing patterns for the prices received indexes). Index Prices Received U.S. Prices and Indexes Page Page Narrative................ A-2 Cows, Beef............. A-18 Price Indexes............ A-3 Cows, Milk............. A-21 Prices Received Eggs................... A-20 U.S. Summary........... A-6-7 Flaxseed............... A-14 Selected Commodities... A-12 Fruit, Citrus.......... A-16 Upland Cotton and Rice: Hay.................... A-15 Prices and Marketings.. A-15 All Hogs............... A-19 Parity Prices............ A-22-23 Lambs.................. A-20 Reliability Statement.... A-31 Milk................... A-21 Oats................... A-13 Monthly State Prices Peanuts................ A-14 Potatoes............... A-17 Apples................... A-15 Sheep.................. A-20 Barley................... A-13 Sorghum, Grain......... A-13 Barrows and Gilts........ A-19 Soybeans............... A-13 Beans, Dry Edible........ A-14 Sows................... A-19 Beef Cattle.............. A-18 Steers and Heifers..... A-18 Broilers................. A-20 Sunflower.............. A-14 Calves................... A-18 Tobacco................ A-14 Corn..................... A-13 Turkeys................ A-20 Cotton................... A-15 Wheat.................. A-12 Cottonseed............... A-15 Special Features Tobacco: Marketing Year Average, by Type, State, and U.S., 1996-97 .............................................. A-24-25 Tobacco: Revised Monthly Prices, All Types by State and U.S., 1996-98 .............................................. A-26 Tobacco: Revised Monthly Prices, by Type, State, and U.S., 1996-98 .............................................. 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-9 U.S. Average Prices: Feeder Livestock ........................................ B-7 Special Features Feed: Price Ratios, January 1995 - May 1998 ................. 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 Rhonda Brandt - Corn (202) 720-9526 Roger Latham - Cotton (202) 720-5944 Mark E. Miller - Oats (202) 720-7621 Jerry Ramirez - Barley, Sorghum (202) 690-3234 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 Dave DeWalt - Citrus (202) 720-5412 Doug Hartwig - Hay (202) 720-8843 Howard Hill - Grapes (202) 720-7235 Dave Mueller - Vegetables (202) 720-2157 Linda Simpson - Dry Beans, Peaches, Pears (202) 690-0270 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 Dan Kerestes, Head (202) 720-4447 Dean Groskurth - Cattle (202) 720-3040 James Hand - Sheep, Lambs, Milk (202) 690-3236 Greg Matli - 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) Mark Harris, 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 June 29, 1998. 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