 991213 Little Holiday Cheer For U.S. Farm PricesDecember 1, 1999 Washington - The year-end demand for festive meals is boosting turkey and egg prices but providing little holiday cheer for most U.S. crop and livestock prices. USDA's farm-price index, a gauge of prices paid to farmers for their goods, rose 2.2% during November for a reading of 93 -- 6.1% lower than a year ago due to poor prices. Egg, turkey, broiler and potato prices rose during the month while milk, soybeans, hogs and orange prices fell, according to preliminary figures. Holiday demand propelled egg prices to 49 cents a dozen, up 16.9 cents for the month, and pushed turkeys to 45.6 cents per pound, up 0.2 cents. Stockpiles of frozen turkeys were smaller than last year's holiday season. Broiler prices surged as well, up 3.9 cents a pound, to average 37.4 cents. Potatoes averaged $5.37 per 100 pounds, compared to $4.84 last month and $4.86 a year earlier. Corn sold for an average $1.72 per bushel during November, up three cents but 21 cents less than the year-ago rate. The government said forecasts that 2 billion bushels of corn would be in warehouses next fall, when the new crop was ready for harvest, "are keeping prices low." Soybean prices fell by 12 cents a bushel, to $4.35 a bushel during November, $1.04 a bushel less than one year ago. At $2.54 a bushel, wheat was down four cents from October, mainly due to "lower prices received for poor-quality durum wheat sold for livestock feed," the report said. Wheat sold for 41 cents a bushel more a year ago. Cotton rose barely, up 0.9 cents per pound to average 46.8 cents, on Congress' vote to revive the so-called Step 2 sales subsidy program. Hog prices fell to $32.90 per 100 pounds, down $1.10 from October but still $14.10 higher than one year ago, when prices crashed. Cattle prices were unchanged at an average $66.20 per 100 pounds but $8.10 higher than a year ago. "Strong retail demand continues to support farm prices," the government said of meat prices. The all-milk price, at $14.40 per 100 pounds, was down 60 cents from October and $3.40 less than a year ago. Oranges sold for $4.33 a box, less than half of October's average of $10.25, as the harvest got underway. A year ago, oranges sold for $5.37 a box.
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