Regional Economics Information

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Data & Analysis

Agriculture - May 2008

Data Sources on the Web
U.S. Department of Agriculture
U.S. Drought Monitor
 
Excel logo Data
Prices Received by Farmers—Poultry
Prices Received by Farmers-Poultry
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Source: U.S. Department of Agriculture

Excel logo Data
Prices Received by Farmers—Cotton
Prices Received by Farmers-Cotton
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Source: U.S. Department of Agriculture

Excel logo Data
Prices Received by Farmers—Oranges
Prices Received by Farmers-Citrus
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Source: U.S. Department of Agriculture
Data and Analysis

Agriculture

May 2008

Recent rains improved soil moisture levels across most areas of the region. However, most areas of Florida have had no significant rainfall since April. With dry pasture conditions, some ranchers are reporting hay shortages and are selling off livestock to relieve grazing pressures.

Growers across the region noted higher costs of fuel, fertilizer, and feed. Market conditions for local poultry and cotton remained favorable, led by strong global demand and the lower value of the U.S. dollar. However, market conditions for Florida's citrus growers are less favorable, in part because of higher production in Brazil.

Poultry
Cotton
Citrus

Poultry
Poultry producers are currently enjoying strong demand from Russia, China, and Mexico. Poultry prices have stabilized between 40 cents and 50 cents per pound. Broiler exports in early 2008 rose about 12 percent above record levels in 2007.

Cotton
Cotton growers are also benefiting from strong global demand. Higher textile mill production in China, India, Pakistan, and Turkey has benefited U.S. cotton exports. U.S. exports of cotton contribute about 71 percent of cotton farm cash receipts. Prices were near four-year highs in April.

Citrus
Orange prices have stabilized over the past two months but remain below 2007 levels. Increased citrus production in Brazil, rising pest and disease control costs, and a sharp spike in energy prices have dampened the profit outlook for Florida citrus growers.


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