U.S. All Farm Product Index of Prices Received by Farmers up 0.5% month-over-month in November to 185% of 1990-1992 baseline, USDA says; crop index up 2.5%, livestock index 1.3%

Andrew Rogers

WASHINGTON , November 30, 2011 (press release) – The preliminary All Farm Products Index of Prices Received by Farmers in November, at 185 percent, based on 1990-1992=100, is up 1 point (0.5 percent) from October. The Crop Index is up 5 points (2.5 percent) and the Livestock Index increased 2 points (1.3 percent). Producers received higher prices for corn, lettuce, cattle, and broilers and lower prices for soybeans, hogs, apples, and hay. 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 milk, cattle, corn, and cotton offset the decreased marketing of soybeans, peanuts, potatoes, and sunflowers.

The preliminary All Farm Products Index is up 31 points (20 percent) from November 2010. The Food Commodities Index, at 171, decreased 2 points (1.2 percent) from last month but increased 22 points (15 percent) from November 2010.

Prices Paid Index Unchanged

The November Index of Prices Paid for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW) is 205 percent of the 1990-1992 average.

The index is unchanged from October but 18 points above (9.6 percent) November 2010. Higher prices in November for feeder cattle, nitrogen, diesel, and mixed fertilizer offset lower prices for complete feeds, concentrates, supplements, and other services.

Prices Received by Farmers

The November All Farm Products Index is 185 percent of its 1990-1992 base, is up 0.5 percent from the October index and 19 percent from the November 2010 index.

All crops: The November index, at 208, increased 2.5 percent from October and is 21 percent above November 2010. Index increases for feed grains & hay, oilseeds, commercial vegetables, and potatoes & dry beans more than offset the index decrease for fruits & nuts.

Food grains: The November index, at 237, is unchanged from the previous month but 19 percent above a year ago. The November price for all wheat, at $7.33 per bushel, is up 4 cents from October and $1.23 above November 2010.

Feed grains & hay: The November index, at 259, is up 4.0 percent from last month and 34 percent above a year ago. The corn price, at $6.00 per bushel, is up 29 cents from last month and $1.45 above November 2010. The all hay price, at $176.00 per ton, is down $5.00 from October but $66.00 higher than last November. Sorghum grain, at $11.00 per cwt, is 30 cents above October and up $2.56 from November last year.

Cotton, Upland: The November index, at 155, is up 2.0 percent from October and 16 percent above last year. The November price, at 94.1 cents per pound, is up 1.8 cents from the previous month and 12.6 cents above last November.

Oilseeds: The November index, at 213, is up 3.9 percent from October and 15 percent higher than November 2010. The soybean price, at $11.50 per bushel, decreased 20 cents from October but is 40 cents above November 2010.

Fruits & nuts: The November index, at 174, is down 1.1 percent from October and a year ago. Price decreases for apples and grapefruit more than offset price increases for oranges and grapes.

Commercial vegetables: The November index, at 165, is up 28 percent from last month but down 9.8 percent from November 2010. Price increases during November for lettuce and tomatoes more than offset price declines for snap beans and sweet corn.

Potatoes & dry beans: The November index, at 161, increased 13 percent from last month and is 17 percent above November 2010. The all potato price, at $8.26 per cwt, is up 93 cents from October and 25 cents from a year ago. The all dry bean price, at $44.40 per cwt, increased $2.80 from the previous month and $17.70 from November 2010.

Livestock and products: The November index, at 156, is 1.3 percent above last month and up 16 percent from November 2010. Compared with a year ago, prices are higher for cattle, hogs, milk, calves, and turkeys. Prices for broilers and eggs are lower than last year.

Meat animals: The November index, at 157, is up 0.6 percent from last month and 29 percent higher than last year. The November hog price, at $65.70 per cwt, is down $3.00 from October but $14.20 higher than a year ago. The November beef cattle price of $119.00 per cwt is up $2.00 from last month and $25.00 higher than November 2010.

Dairy products: The November index, at 152, is unchanged from a month ago but 11 percent higher than November last year. The November all milk price of $19.90 per cwt is unchanged from last month but $2.00 higher than November 2010.

Poultry & eggs: The November index, at 155, is up 4.0 percent from October but 4.9 percent below a year ago. The November market egg price, at 86.2 cents per dozen, increased 0.5 cent from October but is 15.8 cents below November 2010. The November broiler price, at 45.0 cents per pound, is up 2.0 cents from October but 3.0 cents below a year ago. The November turkey price, at 78.4 cents per pound, is up 1.1 cents from the previous month and 4.8 cents from a year earlier.

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