28 June 2012
June Farm Prices Received Index Increased 3 Points
Producers received higher prices for hogs, oranges, eggs, and broccoli and lower prices for hay, corn, soybeans, and broilers. In addition to prices, the overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased monthly movement of wheat and hay offset the decreased marketing of oranges, corn, cattle, and strawberries.
The preliminary All Farm Products Index is up 1 point (0.6 percent) from June 2011. The Food Commodities Index, at 170, increased 4 points (2.4 percent) from last month but decreased 1 point (0.6 percent) from June 2011.
Prices Paid Index Unchanged
The June Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 215 percent of the 1990-1992 average. The index is unchanged from May but 12 points (5.9 percent) above June 2011. Higher prices in June for complete feeds, concentrates, nitrogen, and supplements offset lower prices for diesel, hay & forages, LP gas, and gasoline.
Prices Received by Farmers
The June All Farm Products Index is 181 percent of its 1990-1992 base, up 1.7 percent from the May index and 0.6 percent above the June 2011 index.
All crops: The June index, at 210, increased 1.0 percent from May and 0.5 percent from June 2011. Index increases for fruits & nuts and commercial vegetables more than offset the index decreases for feed grains & hay, oilseeds, food grains, and potatoes & dry beans.
Food grains: The June index, at 213, is 2.3 percent below the previous month and down 12 percent from a year ago. The June price for all wheat, at $6.37 per bushel, is down 30 cents from May and $1.04 below June 2011.
Feed grains & hay: The June index, at 265, is down 2.9 percent from last month but 1.1 percent above a year ago. The corn price, at $6.25 per bushel, is down 8 cents from last month and 13 cents below June 2011. The all hay price, at $183 per ton, is down $16.00 from May but $20.00 higher than last June. Sorghum grain, at $9.95 per cwt, is 45 cents below May and 55 cents below June last year.
Cotton, Upland: The June index, at 137, is down 2.1 percent from May but unchanged from last year. The June price, at 83.1 cents per pound, is down 1.5 cents from the previous month and 0.2 cent below last June.
Oilseeds: The June index, at 245, is down 2.0 percent from May but 3.4 percent higher than June 2011. The soybean price, at $13.70 per bushel, decreased 30 cents from May but is 50 cents above June 2011.
Fruits & nuts: The June index, at 179, is up 5.3 percent from May and 13 percent higher than a year ago. Price increases for apples and oranges more than offset price decreases for peaches, strawberries, and lemons.
Commercial vegetables: The June index, at 166, is up 5.1 percent from last month but unchanged from June 2011. Price increases during June for broccoli and lettuce more than offset price declines for onions, snap beans, and cucumbers.
Potatoes & dry beans: The June index, at 180, is down 3.2 percent from last month and 8.2 percent below June 2011. The all potato price, at $9.89 per cwt, is down 55 cents from May and $1.70 below last June. The all dry bean price, at $43.90 per cwt, is up 60 cents from the previous month and $10.10 above June 2011.
Livestock and products: The June index, at 152, is 0.7 percent above last month but down 0.7 percent from June 2011. Compared with a year ago, prices are higher for cattle, broilers, calves, turkeys, and eggs. Prices for milk and hogs are down from last year.
Meat animals: The June index, at 161, is up 1.3 percent from last month and 10 percent higher than last year. The June hog price, at $66.90 per cwt, is up $4.10 from May but $2.80 lower than a year ago. The June beef cattle price of $122 per cwt is unchanged from last month but $15.00 higher than June 2011.
Dairy products: The June index, at 123, is down 0.8 percent from a month ago and 24 percent lower than June last year. The June all milk price of $16.10 per cwt is 10 cents less than last month and $5.00 lower than June 2011.
Poultry & eggs: The June index, at 164, is up 0.6 percent from May and 5.8 percent above a year ago. The June market egg price, at 68.8 cents per dozen, increased 9.4 cents from May and is 0.1 cent above June 2011. The June broiler price, at 52.0 cents per pound, is down 1.0 cent from May but 3.0 cents above a year ago. The June turkey price, at 73.9 cents per pound, is up 1.3 cents from the previous month and 4.4 cents above a year earlier.
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