He was the sixth player drafted and the Yanks were thrilled that he was still left when their turn came up to pick.
Good story from the NY Post -
A group of stunned and euphoric executives rejoiced at a baseball miracle, the Red Seas of the draft had parted in just such a way that the youngster every person in the Yankees’ draft war room was in unanimity must be taken was outrageously there with the sixth pick.
Hit the link to find out how and why Jeter survived until the 6th pick. I don't recognize the names of any of the players taken before him.