Most agricultural prices were up for Michigan farmers for the full month of October 2007 and mid-month prices as of Nov. 15, 2007, according to the USDA, NASS, Michigan Field Office.
Some Michigan highlights were: corn was $3.40 per bushel, up $0.22 from October and up $0.57 from last year. Soybeans were $9.50 per bushel, up $1.25 from last month. Milk, at $22.50 per cwt, was up $0.30 from last month and up $8.20 from last year. Steers and heifers were $85 per cwt, up $4.50 from last year. Calves were $116 down $10 from last year.
U.S. preliminary All Farm Products Index of Prices received by farmers in November, at 143%, based on 1990-92=100%, increased 2 points (1.4%) from October. The crop index is up 2 points (1.4%) and the livestock index increased 3 points (2.3%). Producers received higher commodity prices for soybeans, eggs, corn, and broilers and lower prices were received for lettuce, hogs, cattle, and broccoli. The overall index is also affected by the seasonal change based on a 3-year average mix of commodities producers sell. Increased average marketings of milk, cattle, cotton, and cottonseed offset decreased marketings of soybeans, peanuts, potatoes, and lettuce.
The preliminary All Farm Products Index is up 24 points (20%) from November 2006. The Food Commodities Index, at 147, increased 2 points (1.4%) from last month and increased 27 points (23%) from November 2006.
The November index of prices paid for commodities and services, interest,
taxes, and farm wage rates is 161% of the 1990-92 average.
The index is up 1 point (0.6%) from October and 13 points (8.8%) above November 2006. Higher prices in November for diesel fuel, complete feeds, and gasoline offset lower prices for feeder cattle, potash & phosphate materials, and hay & forages.