USDA Agricultural Prices
02 August 2012
July Farm Prices Received Index Advanced 11 Points
Producers received higher prices for corn, wheat, soybeans, and hogs and lower prices for cattle, grapes, broilers, and broccoli. 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, grapes, grain sorghum, and hay offset the decreased marketing of milk, potatoes, cantaloupes, and corn.
The preliminary All Farm Products Index is up 10 points (5.5 percent) from July 2011. The Food Commodities Index, at 178, increased 7 points (4.1 percent) from last month and increased 3 points (1.7 percent) from July 2011.
Prices Paid Index Up 1 Point
The July 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 up 1 point (0.5 percent) from June and 11 points (5.4 percent) above July 2011. Higher prices in July for feed grains, concentrates, nitrogen, and LP gas offset lower prices for feeder cattle, feeder pigs, diesel, and potash & phosphate.
Prices Received by Farmers
The July All Farm Products Index is 193 percent of its 1990-1992 base, up 6.0 percent from the June index and 5.5 percent above the July 2011 index.
All crops: The July index, at 233, increased 9.4 percent from June and is 10 percent above July 2011. Index increases for feed grains & hay, food grains, and oilseeds more than offset the index decreases for fruits & nuts, commercial vegetables, and potatoes & dry beans.
Food grains: The July index, at 275, is 23 percent above the previous month and 17 percent above a year ago. The July price for all wheat, at $8.31 per bushel, is up $1.61 from June and $1.21 above July 2011.
Feed grains & hay: The July index, at 302, is up 12 percent from last month and 15 percent above a year ago. The corn price, at $7.36 per bushel, is up 99 cents from last month and is $1.03 above July 2011. The all hay price, at $184 per ton, is up $1.00 from June and up $14.00 from last July. Sorghum grain, at $12.00 per cwt, is $2.44 above June and up $1.60 from July last year.
Cotton, Upland: The July index, at 126, is down 1.6 percent from June and 7.4 percent below last year. The July price, at 76.6 cents per pound, is down 0.7 cent from the previous month and 5.9 cents below last July.
Oilseeds: The July index, at 278, is up 12 percent from June and 17 percent higher than July 2011. The soybean price, at $15.60 per bushel, increased $1.70 from June and is $2.40 above July 2011.
Fruits & nuts: The July index, at 156, is down 14 percent from June and 16 percent lower than a year ago. The price decreases for peaches and oranges more than offset the price increases for pears and apples.
Commercial vegetables: The July index, at 150, is down 6.2 percent from last month and 8.0 percent below July 2011. Price declines for tomatoes, broccoli, and lettuce more than offset price increases during July for snap beans, onions, and celery.
Potatoes & dry beans: The July index, at 179, is down 0.6 percent from last month and 23 percent below July 2011. The all potato price, at $9.76 per cwt, is down 17 cents from June and $4.43 lower than last July. The all dry bean price, at $43.80 per cwt, is down 40 cents from the previous month but $9.60 higher than July 2011.
Livestock and products: The July index, at 151, is 0.7 percent below last month and down 2.6 percent from July 2011. Compared with a year ago, prices are higher for cattle, broilers, eggs, hogs, turkeys, and calves. The price for milk is lower than last year.
Meat animals: The July index, at 158, is down 2.5 percent from last month but 3.9 percent higher than last year. The July hog price, at $73.80 per cwt, is up $3.60 from June and $2.10 higher than a year ago. The July beef cattle price of $116 per cwt is down $5.00 from last month but $5.00 higher than July 2011.
Dairy products: The July index, at 127, is up 2.4 percent from a month ago but 24 percent lower than July last year. The July all milk price of $16.60 per cwt is up 40 cents from last month but down $5.20 from July 2011.
Poultry & eggs: The July index, at 159, is down 1.9 percent from June but 6.0 percent above a year ago. The July market egg price, at 76.3 cents per dozen, increased 7.5 cents from June and is 7.9 cents above July 2011. The July broiler price, at 49.0 cents per pound, is down 2.0 cents from June but 2.0 cents above a year ago. The July turkey price, at 72.4 cents per pound, is down 1.5 cents from the previous month but up 4.9 cents from a year earlier.
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