USDA Agricultural Prices
31 May 2012
May Farm Prices Received Index Declined 2 Points
The Crop Index is down 3 points (1.4 percent) and the Livestock Index decreased 1 point (0.7 percent). Producers received lower prices for cattle, corn, milk, and wheat. Higher prices were received for broilers, grapefruit, hay, and oranges. 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 broilers, sweet corn, wheat, and grapes offset the decreased marketing of corn, cattle, milk, and soybeans.
The preliminary All Farm Products Index is up 1 point (0.6 percent) from May 2011. The Food Commodities Index, at 164, decreased 1 point (0.6 percent) from last month and decreased 1 point (0.6 percent) from May 2011.
Prices Paid Index Down 1 Point
The May Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 212 percent of the 1990-1992 average. The index is down 1 point (-0.5 percent) from April but 8 points (3.9 percent) above May 2011. Lower prices in May for LP gas, diesel, feeder pigs, and feeder cattle offset higher prices for nitrogen, concentrates, complete feeds, and hay & forages.
Prices Received by Farmers
The May All Farm Products Index is 176 percent of its 1990-1992 base, down 1.1 percent from the April index but 0.6 percent above the May 2011 index.
All crops: The May index, at 204, decreased 1.4 percent from April but remained slightly above May 2011. Index decreases for feed grains & hay, food grains, and potatoes & dry beans more than offset the index increases for fruits & nuts, upland cotton, and commercial vegetables.
Food grains: The May index, at 216, is 4.4 percent below the previous month and 15 percent below a year ago. The May all wheat price, at $6.60 per bushel, is down 51 cents from April and $1.56 below May 2011.
Feed grains & hay: The May index, at 269, is down 1.1 percent from last month but 1.1 percent above a year ago. The corn price, at $6.22 per bushel, is down 12 cents from last month and 10 cents below May 2011. The all hay price, at $199 per ton, is up $9.00 from April and $28.00 higher than last May. Sorghum grain, at $10.10 per cwt, is 50 cents below April and $1.50 below May last year.
Cotton, Upland: The May index, at 157, is up 4.7 percent from April and 15 percent above last year. The May price, at 95.1 cents per pound, is up 4.2 cents from the previous month and 11.9 cents above last May.
Oilseeds: The May index, at 245, is unchanged from April but 3.4 percent higher than May 2011. The soybean price, at $13.70 per bushel, is unchanged from April but is 50 cents above May 2011.
Fruits & nuts: The May index, at 173, is up 6.1 percent from April and 16 percent higher than a year ago. Price increases for oranges and grapefruit more than offset the price decrease for strawberries.
Commercial vegetables: The May index, at 138, is unchanged from last month but 19 percent below May 2011. Price increases during May for onions and cucumbers offset the lower price for lettuce.
Potatoes & dry beans: The May index, at 179, is down 7.7 percent from last month and 5.3 percent below May 2011. The all potato price, at $9.86 per cwt, is down 89 cents from April and $1.31 from last May. The all dry bean price, at $44.60 per cwt, is down $2.40 from the previous month but $11.70 above May 2011.
Livestock and products: The May index, at 151, is 0.7 percent below last month and May 2011. Compared with a year ago, prices for milk and hogs are down from last year. Prices are higher for cattle, broilers, calves, turkeys, and all eggs.
Meat animals: The May index, at 158, is down 2.5 percent from last month but 4.6 percent higher than last year. The May hog price, at $61.60 per cwt, is down $1.20 from April and $7.00 lower than a year ago. The May beef cattle price of $121 per cwt is down $3.00 from last month but $9.00 higher than May 2011.
Dairy products: The May index, at 126, is down 2.3 percent from a month ago and 16 percent lower than May last year. The May all milk price of $16.40 per cwt declined 40 cents from last month and is $3.20 lower than May 2011.
Poultry & eggs: The May index, at 163, is up 2.5 percent from April and 5.2 percent above a year ago. The May market egg price, at 59.4 cents per dozen, decreased 4.8 cents from April and is 2.8 cents below May 2011. The May broiler price, at 53.0 cents per pound, is up 2.0 cents from April and 3.0 cents above a year ago. The May turkey price, at 73.8 cents per pound, is up 0.1 cents from the previous month and up 5.9 cents from a year earlier.
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