Washington - Average prices paid to farmers for their crops and livestock fell in December from the prior month, the U.S. Agriculture Department said this week.
The farm-price index fell three points in December to 104, down 2.8 percent from November.
The fall in the December index was led by drops in prices for wheat, corn, cotton, soybeans, lettuce, hogs, eggs and poultry. Farmers selling peanuts, rice and strawberries, however, saw prices increase in December from the previous month, the department said.
The seasonal changes in the mix of commodities farmers sell affects the overall index level, the department said. Compared to one year ago, the index was down six points, or 5.5 percent.
Wheat sold for an average $3.40 per bushel this month, down 10 cents from November and 66 cents below the December 1996 price. Corn prices fell 3 cents in December to $2.48 per bushel and was 15 cents lower than December 1996 prices.
Higher world production and ending stocks contributed to the decrease in the average December cotton price, which fell to 65.5 cents per pound, down 2.1 cents from November and 3.8 cents per pound below the December 1996 rate, the department said.
Average soybean prices fell to $6.68 per bushel, down 17 cents from November and 23 cents below prices paid in December last year.
The December hog price was $42.50 per cwt, down $2.60 from last month and $13.10 below a year ago.
"Hog prices are reflecting herd expansion with weekly slaughter running 5 to 10 percent above a year earlier during December," the report said.
Egg prices, down 2.9 cents to 68.0 cents per dozen, reflect a "plentiful" supply, the department said.
Press for Information on Placing Your Ad Here
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Web Site: http://www.spcnetwork.com/mii