USDA November/December Ag Prices

Prices received by Michigan farmers for the full month of November 2023 are listed in the table below.

   Some Michigan highlights were: November corn, at $4.29 per bushel, decreased $0.53 from October and decreased $1.82 from last year; November soybeans, at $13.30 per bushel, increased $0.40 from last month but decreased $1.00 from last year; November wheat, at $4.87 per bushel, decreased $0.32 from October and decreased $3.86 from last year; November milk, at $21.10 per cwt., increased $0.20 from last month but decreased $3.10 from last year.

   Nationally, the November Prices Received Index 2011 Base (Agricultural Production), at 113.2, decreased 0.1 percent from October and 15 percent from November 2022. At 99.8, the Crop Production Index is down 3.0 percent from last month and 20 percent from the previous year. The Livestock Production Index, at 134.0, increased 0.6 percent from October, but decreased 6.7 percent from November last year. Producers received lower prices during November for corn, hogs, cattle, and turkeys but higher prices for market eggs, soybeans, strawberries, and lettuce. In addition to prices, the volume change of commodities marketed also influences the indexes. In November, there was decreased marketing of soybeans, grapes, wheat, and dry beans but increased monthly movement for corn, cattle, milk, and cotton.

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December 2023 Hogs and Pigs:

Michigan’s total hog and pig inventory on December 1 was estimated at 1.29 million head, up 30,000 head from a year ago, according to Marlo D. Johnson, Director of the USDA, NASS, Great Lakes Regional Field Office. Breeding hog inventory, at 115,000 head, was unchanged from last December. Market hog inventory, at 1.18 million head, was up 3 percent from last year. The average pigs saved per litter for the September to November quarter was 11.40, compared to 11.10 from the same period last year.

   United States inventory of all hogs and pigs on December 1, 2023, was 75.0 million head. This was up slightly from December 1, 2022, but down slightly from September 1, 2023.

   Breeding inventory, at 6.00 million head, was down 3 percent from last year, and down 3 percent from the previous quarter. Market hog inventory, at 69.0 million head, was up slightly from last year, but down slightly from last quarter.

   The September-November 2023 pig crop, at 34.6 million head, was down slightly from 2022. Sows farrowing during this period totaled 2.97 million head, down 4 percent from 2022. The sows farrowed during this quarter represented 48 percent of the breeding herd. The average pigs saved per litter was 11.66 for the September-November period, compared to 11.22 last year.

   United States hog producers intend to have 2.90 million sows farrow during the December 2023-February 2024 quarter, down 2 percent from the actual farrowings during the same period one year earlier, and down 1 percent from the same period two years earlier. Intended farrowings for March-May 2024, at 2.91 million sows, are down 1 percent from the same period one year earlier, and down 2 percent from the same period two years earlier.