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Group Title: Bulletin Florida Cooperative Extension Service
Title: Seasonality of Florida feeder cattle prices
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 Material Information
Title: Seasonality of Florida feeder cattle prices
Series Title: Bulletin Florida Cooperative Extension Service
Physical Description: ii, 22 p. : ill. ; 28 cm.
Language: English
Creator: Simpson, James R
Alderman, Rom
Publisher: Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida
Place of Publication: Gainesville
Publication Date: 1985
 Subjects
Subject: Cattle trade -- Seasonal variations -- Florida   ( lcsh )
Cows -- Marketing   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
bibliography   ( marcgt )
non-fiction   ( marcgt )
 Notes
Bibliography: Includes bibliographical references (p. 15).
Statement of Responsibility: James R. Simpson and Rom Alderman.
General Note: "February 1985."
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Bibliographic ID: UF00008520
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: ltqf - AAA6782
ltuf - AEG7073
oclc - 14720244
alephbibnum - 000870008

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1- \February 1985


Bulletin 214


Seasonality of Florim

Feeder Cattle Prices

James R. Simpson
Rom Alderman


, -' '.A
arr


Florida Cooperative Extension Service / Institute of Food and Agricultural Sciences / University of Florida / John T. Woeste, Dean


A!l!


"^ ->














Table of Contents


Page
List of Tables...................................................... II

List of Figures................................. ... ................. II

Introduction................... ......... .................. ...... 1

Data Sources...................................................2... 2

Methodology ...... ...... ............ ......... ...................... 3

Seasonality of 400-500 Pound Steers................................ 3
Annual Analysis................................................. 4
July-October Analysis.......................................... 4

Seasonality of 600-700 Pound Steers................................ 8
Annual Analysis........................................... 8
March-May Analysis.........................................13

Summary and Conclusions...................... ....... ....... ....... 13

References............................. .... ................. ......15


Appendix 1


Appendix 2


Appendix 3


Appendix 4


Appendix 5



Appendix 6



Appendix 7


Average weekly prices for Medium Number 1 steers,
400-500 pounds, Okeechobee, Florida, 1972-1983..........16

Average weekly prices for Medium Number 1 steers,
600-700 pounds, Okeechobee, Florida, 1972-1983..........17

Approximate relationship between week number and
month, and week within the month.......................18

Index, prices received by U.S. farmers by live-
stock and livestock products............................ 19

Deflated average monthly prices and deflated
price index for 400-500 pound Medium Number 1 steers,
Okeechobee, Florida, 1972-1983.......................... 20

Index of weekly prices for 400-500 pound Medium Number 1
steers, Okeechobee, Florida, July-September,
1980-1983....................................... ....... 21

Deflated average monthly prices and deflated price
index for 600-700 pound Medium Number 1 steers,
Florida average, 1972-1983 ............................. 22














List of Tables


Tables Page

1 Average monthly prices for 400-500 pound Medium Number 1
steer calves, Okeechobee, Florida, 1972-1983................... 5

2 Average monthly prices for 600-700 pound Medium Number 1
steers, Florida average, 1972-1983.............................. 10



List of Figures

Figure Page

1 Seasonality of 400-500 pound Medium Number 1 steers,
Okeechobee, Florida, 1980-1983................................. 6

2 Monthly index of deflated prices for 400-500 pound
Medium Number 1 steers, Okeechobee, Florida, 1972-1983
and 1980-1983.............................................. .... 7

3 Price fluctuations for 400-500 pound Medium Number 1
steers, Okeechobee, Florida, July-September,
average 1980-1983............................................. 9

4 Prices for 600-700 pound Medium Number 1 steers,
Florida average, 1980-1983.................................... 11

5 Monthly index of deflated prices for 600-700 pound
Medium Number 1 steers, all Florida average, 1972-1983
and 1980-1983 ... ............................................... 12

6 Price fluctuations for 600-700 pound Medium Number 1
steers, Okeechobee, Florida, March-May, average
1980-1983................................ ....................... 14













SEASONALITY OF FLORIDA
FEEDER CATTLE PRICES



James R. Simpson and Rom Alderman



It has been recognized that production and prices of beef cattle
undergo movements over time that can be divided into trend, cyclical,
random components and seasonality. Trends are simply the general dir-
ection of prices over time, while cyclical movements refer to peri-
odic, long-term, regular rises and falls. A cattle cycle, which is
defined as the period from one low point in national cattle inventory
to another low point, is a well-recognized phenomenon affecting cattle
prices [1]. Random components are those which cannot be accounted for
statistically. The last one, seasonality, refers to a repeatable phe-
nomenon occurring each year. Because it does occur annually, pro-
ducers can use the information in developing marketing plans.




Introduction


Seasonality of prices refers to the tendency of prices to regu-
larly be higher or lower at some period of the year. This pattern is
primarily due to the biological nature of production but, to some ex-
tent, is also due to the nature of demand. For example, turkey pro-
duction is highest during Thanksgiving (a demand side phenomenon)
while market hog slaughter has traditionally been largest in the late


Professor and Research Analyst, respectively, Food and Resource Eco-
nomics Department, University of Florida, Gainesville.













spring (a supply side phenomenon). Cattle prices are lowest in the
fall, which is also a supply side oriented situation.

This bulletin provides a descriptive analysis of the seasonal
price pattern of 400-500 pound steer calves, and 600-700 pound year-
ling steers in Florida. In addition, special consideration is given
to the July-September period for weaned calves since this is the time
when the majority of them are sold, and the March-May period for year-
lings since that is the major marketing period for them. Finally, an
analysis is presented on differences between the price of 400-500
pound steer calves in the fall and 600-700 pound yearlings the follow-
ing spring.




Data Sources


Data used in this bulletin are from the weekly Florida Livestock
Market Report [2]. Weekly data are used since monthly averages by
weight class are not available. The prices for 400-500 pound steers
are for Medium Number l's (Medium l's) at the Okeechobee livestock
auction, while prices for 600-700 pound Medium 1 steers are statewide
averages. Examination of the data indicates that prices for 400-500
pound calves are about $2.00 per cwt. higher in the Panhandle of
Florida than in Okeechobee. This is due to transportation costs since
virtually all of this class cattle are transported north.
Accordingly, producers can adjust for their location. There is no
appreciable difference for 600-700 pound cattle in different areas of
Florida as this weight cattle are transported in all directions after
sale. Consequently, no adjustment will be needed for different state
locations except, possibly, in the far western panhandle.

The weekly prices, which are reported as ranges, have been aggre-
gated into simple average monthly prices. This method does lead to













some bias, and a weighted average would be more accurate. But, that
procedure is not possible since neither quantity by cattle class nor
weight are reported.

Averages of weekly data for the 12 year period 1972-83 are given
in Appendix 1 for 400-500 pound Medium 1 steer calves and in Appendix
2 for 600-700 pound Medium 1 yearlings. Blanks in the series indicate
that data are not available for that week. Appendix 3 indicates the
relationship between weeks and months.




Methodology


Weekly price data are first averaged into a monthly series. Be-
cause of the difficulty in interpreting seasonal patterns from actual
prices, they are placed on an index basis after the actual prices have
been deflated using the Index of Prices Received by Farmers for Live-
stock and Livestock Products [3]. The deflating process (Appendix 4)
is necessary to assure that end-of-year figures match up, especially
in years of high inflation. Averages of the indices are then con-
structed for 1972-1983, with most of the analyses presented in this
bulletin focusing on the four years 1980-83 since this most recent pe-
riod has been one of relatively stable prices while the entire period
1972-83 contains large price fluctuations.




Seasonality of 400-500 Pound Steers


This section is divided into two parts, seasonality for the year
as a whole, and a detailed analysis within the major marketing period
for Florida cattle, July-October.













Annual Analysis

The weekly price data in Appendix 1 for 1972-1983 have first been
transformed into the monthly data (Table 1). Actual prices for the
last four years 1980-1983 are presented in Figure 1.

The index of deflated prices, provided in Appendix 5 and graphed
in Figure 2, displays a very definite seasonal pattern, with a high in
early spring and a low in late summer. The spring high of 8 percent
above the annual average occurred in March when the entire period of
1972-1983 is considered, and April when the last four years of data
are used to construct the index. Seasonal lows include three months;
September, October and November regardless of the period analyzed.
The lows are 5 percent below the annual average. In summary, there is
a total seasonal fluctuation of 13-14 percent in prices from spring to
fall.


July-October Analysis

Florida cow/calf operators are especially concerned about the
July-September period as this is the time when more than 70 percent of
their weaned calves are marketed. The index in Figure 2 shows that
prices fall about 7-8 percent during that period. Consequently, a
logical question, and the one addressed in this section, is the extent
to which there are any identifiable patterns which producers could
rely on to help determine the time to market their calves.

A graph of the weekly prices on an index basis (taken from Appen-
dix 2) for each of four years 1980-83 during the three month period
July-October is presented in Appendix 6. As can be determined from
reviewing the graph, actual data are hard to interpret and thus have
been averaged, again on an index basis, and are given in Figure 3.
The results indicate that on the average there are definite peaks
early in each month, with prices falling off toward the end of each










Table 1. Average monthly
1972-1983


prices for 400-500 pound Medium Number


1 steer calves, Okeechobee,


Month
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983


Avg (72-83)
Avg (80-83)


41
58
44
22
34
36
57
105
82
77
69
75


58
76


Dollars
44
56
31
26
36
36
62
92
75
69
66
70


55
70


per cwt .------------------------------------
44 42 42 44 44 42
57 63 55 53 49 47
32 28 23 22 22 21
27 24 26 26 27 31
34 34 32 31 30 32
37 38 38 38 38 40
70 63 66 65 68 78
94 85 90 86 85 83
75 77 75 75 71 73
62 63 67 63 63 63
65 65 64 63 61 63
66 64 62 61 65 68


55 54 53 52 52 53
67 67 67 66 65 67


Source: Compiled from Appendix 1 using weekly-monthly relationships given in Appendix 3.


Florida,


-------------------------------------














90 8
/ 80 o---o--
88 /
8 / \ 81 --A
82 e*****
86- 82 3
83 10
84-
\
82-

80- 8
o \
78-

M 76- 1 /
5 D-.-< \o---o
S74
o p
0 72- '

70- .

68 *,

66- *

64- **0 \ '^

62
70
60 I 1 I I 1 --
J F M A M J J A S O N D
Month





Figure 1. Seasonality of 400-500 lb. Medium No. 1 steers, Okeechobee, Florida, 1980-83















Avg (72-83) -
Avg (80-83) o- -


J F M A M J J
Month


A S O N


Figure 2. Monthly index of deflated prices for 400-500 lb. Medium No. 1 steers, Okeechobee, Florida,
1972-83 and 1980-83


109

108

107

106

105

104

103

102

101

100

99

98

97

96


\9








h














month by about 3-4 percent. This means, if prices are about $60 per
cwt., that a decline of about $2 per cwt. would be expected. Exami-
nation of the individual years in Appendix 6 reveals that while this
pattern generally holds, in some years there are exceptions, i.e.,
that the results should be used only as a guide.




Seasonality of 600-700 Pound Steers


This section, is divided into two parts, an annual analysis and
one for the heaviest marketing period of March-May.


Annual Analysis

Appendix 2 contains the weekly price data for 600-700 pound
steers covering the period 1972-1983. These data, which are Florida
averages, have been transformed into the monthly averages given in
Table 2 and graphed in Figure 4. The averages in Table 2, deflated
using the wholesale price indices given in Appendix 4, are presented
in Appendix 7.

Seasonal indices provided in Appendix 7 are graphically presented
in Figure 5. The results indicate that the patterns for the two peri-
ods evaluated, 1972-1983 and 1980-1983, are similar. Differences are
also similar to those found in the analysis of 400-500 pound steer
calves. In both cases the low point of prices is in September-
November and, in both weight classes, the peak, using data for the en-
tire period, is in April. But, for 600-700 pound steers, the peak
during the four year 1980-1983 period occurs in January.

Analysis of the overall data series (1972-1983) indicates that
the April peak is about 4 percent above the annual average, while the
low point is 3-4 percent below the annual average. In contrast, the







98.5- Avg (80-83)


98 -
97.5-
- 97 -
o
> 96.5-
C
c 96 -
K-
o 95.5 -
9-
95 -
94.5-


Figure 3. Price fluctuations for 400-500 lb. Medium No. 1 steers, Okeechobee, Florida, July-September,
Average 1980-83


94 -1 a 1 g i i I I I I
Week 2 3 4 5 1 2 3 4 1 2 3 4
July August September


i











Table 2. Average monthly prices for 600-700 pound Medium Number 1 steers, Florida average,


Month
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


1972
1973
1974
1975
1976
1977
1978
S 1979
1980
1981
1982
1983


Avg (72-83)
Avg (80-83)


-----------------------------------Dollars
34 36 35 34 35 37
43 46 51 47 49 48
48 47 41 38 35 31
25 23 25 27 31 31
31 33 34 39 38 38
32 35 35 37 35 35
40 45 49 52 55 54
71 75 83 82 81 77
73 76 67 62 62 64
62 63 63 63 59 57
55 57 58 59 60 59
60 64 64 64 61 63


48 50 50 50 50 50
62 65 63 62 61 61


per cwt.-----------------------------
39 37 37 40 39 39
51 58 51 48 44 42
32 31 27 25 23 25
29 28 31 30 31 33
35 33 32 31 31 32
35 35 35 35 35 37
57 57 58 60 59 65
77 70 75 71 68 70
65 67 65 64 63 62
56 56 58 56 55 56
57 60 58 57 56 59
60 57 52 53 54 59


49 49 48 48 46 48
60 60 58 58 57 59


Source: Compiled from Appendix 2 using weekly-monthly relationships given in Appendix 3.


1972-1983













80 0- - -
81 /--
82 *******O
83 -


76

74

72

70

o 68




0
| 66

5 64

a 62

* 60
&. 58


S 0


Month


Figure 4. Prices for 600-700 lb. Medium No. 1 steers, Florida Average, 1980-83


0*6


/ \
\\


e e * *e*
. oO
















Avg (72-83)-
Avg (80-83) o---


J FM A M J J
Month


A S O N D


Figure 5. Monthly index of deflated prices for 600-700 lb. Medium No. 1 steers, all Florida average,
1972-83 and 1980-83


107

106

105

104

S 103
0
II 102.

101

o 100.

99.
x

.E 98,

97.


96

95.

94.













spring peak in January during the 1980-1983 period is about 6 percent
above the annual average while the low point in September-November is
4-5 percent below the annual average.

One of the more difficult decisions facing operators with 600-700
pound steers is when to sell. The analysis indicates that severe
price breaks occur from July through September. This means that un-
less there are special circumstances, operators will probably find it
most profitable to either retain ownership through the finishing phase
to slaughter weight or sell when winter pastures are used up in the
March-May period. We now concentrate on the latter decision recogniz-
ing that while the sell decision is largely dictated by weather, there
is some flexibility. The question then is: to what extent are there
repeatable weekly variations?


March-May Analysis

Examination of weekly data during March-May (Figure 6) indicate a
severe price break taking place after the second week of April and
lasting through the third week in May. During this period prices drop
about 4-6 percent which, for steers that are $60 per cwt., results in
a price decline of about $3 per cwt. Again, the price declines are
only averages and caution must be exercised in interpretation of the
results.




Summary and Conclusions


Data on Florida feeder cattle prices from 1972-1983 have been
presented and analyzed to determine seasonal fluctuation. Results for
both 400-500 pound and 600-700 pound steers indicate a definite price
pattern with highs in April, and a low in September-November. The a-
mount of variation depends on the period being analyzed. For 400-500

















105-



104-



103-


0
S102-
0,



C


100-


Avg (80-83)


99



98-



97 -,-|--
Week 1 2 3 4 5 1 2 3 4/ 1 2 3 4,
March April May


Figure 6. Price fluctuations for 600-700 lb. Medium No. 1 steers, Okeechobee, Florida, March-May,
Average 1980-83














pound steers there is a total seasonal fluctuation of 13-14 percent
while the total variation for 600-700 pound steers is 8 percent if the
12 year period is used, and 12 percent during the 1980-1983 period.

Analysis of the data on a weekly basis during the major marketing
period for 400-500 pound steers, July-September, indicates that on the
average prices are about 3-4 percent higher early in each month than
late in the month. Review of the major marketing period for 600-700
pound steers, March-May, reveals that a price decline of about 4-6
percent takes place after the second week of April and lasts until the
third week of May. Caution must be exercised in use of these findings
since they are averages, and in some years the patterns do not hold.







References


[1] Simpson, James R. and Donald E. Farris. The World's Beef Busi-
ness (Ames: Iowa State University Press, 1982).

[2] Florida Department of Agriculture and Consumer Services, Florida
Livestock Market Report, weekly.

[3] U.S. Department of Agriculture. Agricultural Prices.
Washington, D.C. Various issues.














Appendix 1. Average weekly prices for Med. No. 1 steers, 400-500 lbs., Okeechobee, Florida, 1972-1983

Week Year
Month Numbera 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983

.. -Dollars per cwt.--
January 1 38 46 35 39 65
2 38 44 53 22 33 34 83 88 70
3 38 48 49 24 31 34 45 89 89 73 62 69
4 41 53 48 22 31 32 49 85 75 69
February 5 41 48 53 21 30 34 50 91 88 75 63 /u
6 40 54 52 22 31 36 48 91 69 62 70
7 41 50 51 22 32 37 45 101 93 75 64 73
8 42 55 43 23 35 33 103 92 76 65 74
March 9 40 57 47 18 36 36 52 106 88 77 67 75
10 36 60 42 33 34 52 83 87 77 77
11 39 55 42 35 34 57 84 77 71 75
12 41 61 45 25 34 39 52 105 80 77 69 74
13 44 54 42 22 35 39 65 78 79 68 76
April 14 41 58 46 24 35 38 58 70 75 68 76
15 44 57 41 27 37 40 52 76 75 68 76
16 40 59 43 26 40 41 61 108 78 76 68 75
17 41 62 42 25 44 41 59 117 72 74 65 71
May 18 41 61 39 25 41 40 59 117 72 76 69 73
19 42 61 36 27 43 42 63 109 70 73 69 70
20 44 62 35 27 38 35 64 102 71 69 70 72
21 45 59 36 27 36 36 66 102 73 65 72 69
June 22 47 60 36 25 40 35 67 102 75 65 73 70
23 45 54 32 26 35 38 86 70 67 68 69
24 44 53 31 26 38 37 63 89 75 69 67 70
25 40 54 26 38 32 61 91 76 69 66
26 44 32 28 36 37 61 90 79 70 65 67
July 27 50 28 32 37 76 64 64 67
28 45 55 35 28 38 70 97 77 64 66 66
29 44 60 31 27 38 70 95 74 61 66 66
30 42 65 31 38 69 90 73 61 65 65
August 31 42 68 29 31 34 36 81 79 60 65
32 42 66 29 27 33 39 68 80 76 60 66 65
33 43 62 32 26 34 40 59 85 80 62 67 65
34 42 56 32 23 35 39 63 95 78 65 58 63
September 35 41 56 23 29 33 39 65 85 74 64 67 61
36 60 26 31 33 65 74 65
37 44 54 23 26 34 40 69 94 78 65 65 62
38 43 51 22 26 31 38 67 90 78 68 64 63
39 43 51 23 27 31 37 65 87 70 69 63 64
October 40 43 55 21 27 28 38 62 92 63 62 60
41 43 55 26 30 31 39 68 84 77 63 62 62
42 45 52 24 29 31 35 66 83 76 63 64 62
43 47 51 22 30 33 37 87 76 64 62
November 44 46 52 30 33 36 64 85 74 63 61
45 44 48 23 30 30 37 65 84 69 63 61 67
46 44 48 21 31 33 39 69 83 62 63 64
47 44 50 22 32 29 75 70 66 63 68
December 48 42 42 22 32 30 40 90 73 63 59 70
49 44 23 30 41 78 83 76 65 63 66
50 47 24 31 31 41 79 83 74 65 64
51 17 32 34 79 83 70 61 63
52

Average 42 55 34 26 34 37 69 92 77 68 65 68

aSee also Appendix 3 for corresponding month and week. The relationship is approximate.
















Appendix 2. Average weekly prices for Med. No. 1 steers, 600-700 lbs., Okeechobee, Florida, 1972-1983

Week Year
Month Numbera 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983

Dollars per cvt.------ --


January 1
2
3
4
February 5
6
7
8
March 9
10
11
12
13
April 14
15
16
17
May 18
19
20
21
June 22
23
24
25
26
July 27
28
29
30
August 31
32
33
34
September 35
36
37
38
39
October 40
41
42
43
November 44
45
46
47
December 48
49
50
51
52


Average


47 25
26
25
48 24
46 23
47 24
46 23
42 24
41


35 51
35
34 48
34 45
47
36 51
48
35 49
49
47
38 47

51
36

39

53
58
62
37 62
36 57
37 54
51
37
38 51
37
40
39 50
47
41 47
41 44
43
39 42
37
38 46

41
42


26
40 26
37 26
39 27
38 28
37 28
34 32
35 32
31
33 31
32 31
31 30
32
31
31
32 31
32

32
32

26
28

29 31
28 31
25 31
25 30

22
26

23
26
23

25
26 33
24


34
32
32 32
32
34
35
35 36
35 36
29 34
34 36
36
34 36
36
37
39 39
40 39
41 37
41 37
39 34
34
38 34


34
33
33
32

33
33
32
29
29
32
33
32
30
30
32
30
30
31
33
32


52
54
52
55
56
57


56
51


57
58
58

59
55
57
59
58
55
61
58
63
62
59

59

58
60

66
64
64


70 76
73 73
71
73 74
76
79 79
78 77
81 76
72
68
85 66
64
59
63
81 65
86 61
63
80 58
83 63
79 63
85 66
78 64
76 64
74 63
74 64
66
77 67
75 63
78
65 67
66 68
72 65
75 68
73 66
66
78 64
77 65
70 63
73
71 65
70 65
69 65
66 64
68 63
67
62
71 63
69 64
70 63
72 59


36 49 33 28 34 35 55 74 66 59 58 59


aSee also Appendix 3 for corresponding month and week. The relationship is approximate.











Appendix 3.


Approximate relationship between week
week within the month


number and month, and


Approximate Approximate
Week month and Week month and
Number week number week


January 1
2
3
4
February 1
2
3
4
March 1
2
3
4
5
April 1
2
3
4
May 1
2
3
4
June 1
2
3
4
5


July 1
2
3
4
August 1
2
3
4
September 1
2
3
4
5
October 1
2
3
4
November 1
2
3
4
December 1
2
3
4
5










Index, prices received by U.S. farmers for livestock and livestock productsa


-- Month

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

------------------------------------------196 --------------------


1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983


128
157
194
153
181
170
185
252
253
254
240


133
165
193
151
182
174
196
264
255
252
249
256


135
178
143
176
184
173
219
255
237
256
261
247


138
186
157
181
179
179
217
249
251
254
259
238


137
225
164
180
175
177
217
242
262
254
259
242


140
203
157
190
172
177
225
254
263
254
256
238


140
190
157
189
165
176
232
247
263
245
249
238


139
183
153
182
162
174
228
251
259
242
243
238


Source: [3].


Appendix 4.












Appendix 5.


Deflated average monthly prices and
steers, Okeechobee, Florida,1972-1983


deflated price index for 400-500 pound Medium Number 1


Month
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Deflated prices
-Dollars per cwt.


1972
1973
1974
1975
1976
1977
1978
1979
S 1980
1981
1982
1983


Avg (72-83)
Avg (80-83)


Deflated price index


--------------------------------------Average months=100


(72-83)
(80-83)


102
106


101
96


Source: Prices deflated from averages in Table 1 using price indices in Appendix 4.


alndex constructed by summing the deflated prices for each year
rounded figures provided in the table) and dividing to obtain an average


including decimals (as
which is equal to 100.


opposed to


---------------------------------------


-------- -----------------------------


----------------------------------- --















104 1 80 o- --
81 8------


103

102

101

100


82 ***** ****
83 E 1


* *.


S j



I
I
I


881- 1 1-
Week 1 2 3 4 5
July
July


Il:I
i' *I/
'\ '

I\
I .
i 1 *
I *
I
'I
I
\1
o


*
..
\ *
1 *

'.
1 .




: I
\ I
* /
* .1 /
* *\:-


1 2 3 4
August


I
I


I.\

I.
I.


1 2 3 4
September


Appendix 6. Index of weekly prices for 400-500 lb. Medium No. 1 steers, Okeechobee, Florida, July-
September, 1980-83













steers, lroriaa average, 19/I-i a 3

Month
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Deflated prices
-Dollars per cwt.------------------------- -------


1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983


Avg (72-83)
Avg (80-83)


24 24 23
24 24 24

Deflated price indexa


-------------------------------------Average months=100
100 102 103 104 103 102 101
104 106 104 103 101 101 98


Source: Prices deflated from


averages in Table 1 using price indices in Appendix 4.


aIndex constructed by summing the deflated prices for each year
rounded figures provided in the table) and dividing to obtain an average


including decimals


which is equal to 100.


(as opposed to


(72-83)
(80-83)


98
100


---U--I-------------------------------


-------------------------- ----------


Appendix 7.


Deflated average monthly prices and


deflated price index for


600-700 pound


Medium Number 1







































































This publication was produced at a cost of $1,371, or 49 cents per copy, to inform Florida ranchers,
residents and researchers about the seasonality of Florida feeder cattle prices. 4-2.8M-85




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