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AGHICULTURAL NEWS OF THE WEEK Numbe rlOO----·--·--· -----· Federal Reserve Bank of Dallas P E ANUT S 1 The Department of Agriculture.this week am10unced the number of acres which Texas farmers will be allowed. to plant in peanuts next year. The 1952 acreave allotment is 3703000 acres, or 27,000 acres less than the 1951 alfotment for tli·e· State-~-State, county, and J.ocal Pl\IIA cormnittees will apportion the allotment among peanut growerso Ho.rvesting was practicaJ.ly completed in aJJ. areas of the southwest last week. In of the State harvestings of peanuts were generally of poor quality and much acreage was being baled for hay. A number of shelling plants closed down because of insufficierit supplies to warrant operation. Shellers were bidding activelJ last week for all lots of good quality peanuts at priGes ranginp from support to above support. Shelled Spanish No. 1 sold from 22-23 cents per pound;-·y:- o. b. -·shipp~i.ng point: Offerings of peanut meal in tte. E;outhwest last week were light but demand was good~ Sales·Of-pe.ariu·t-meal, 41 percent protein content, were made to feeders and dealers at $82.00-88.CO per ton. many-area's C0 T T 0 N The spot cotton markets continued.to fluctuate within considera1le range. However, the avE':~age-price- for -Middling 1)/16-inch cotton in tne 10 spot markets on Tuesday, November 27, was L2.h~ cents. per pound, or nearly tlie same as a week earlier~ Producers were not offering current ginnings very r'r~ely 1 ast week due mainly to the--de"C~1ine in the. ma:rketfrom-tlieprevious-week. Also, loan ~qui ties were not moving quite as much. Cotton placed in the CCC loan pro~rarn throueh November 15 totaled 776,000 bales, of whjch 17,000 f1avebeen-repaid. Upland cotton ginned in the HeS. prior to November lh this season averaged aoout-the-sarne- in grade but shorter in staple length than durinR' the same pe riod a year ago, accord~ .ng to the USDA. As compared with tlle same period of 19~0, ginnings through iJovember 13 this year contained less of the strict MiddJ in .' and higher r.rades and the strict low uiiddling and lo·N:er grades, but contained more Middling cotton. The latter comprised a little over 41 percent of ginnings thus far this year, as coinpared with 37 percent last year. Cotton ginned in Texas throu~h November 13 amounted to 2.8 million bales, compared wit112·:-1ffii11Ion~a-ye.a. r ago, according to the Bureau of the Census. Ginnings in the U.. S. through the sarne date totaled 11.1 million baJ es vs. 7. 6 million a year earlier. GHAI NS Trends in grain prices on .. theFor~:-orth market for the past - ·eek have been mixed.. No. 1 hardwheatcontinued to advance, reaching .,;2. 84 per oushel on Tuesday, fovember 27, - higher than at any time since the sharp market break in February 19h8, 1fo. 2 vrhi te oats sold Tuesday for ~~L 27-1/4 per bushel - down 1 cent from a we ek ear lier, No. 2 yellow corn at· ·2 ~ 20 was off 2-1/4 cents, while No. 2 white corn at :ti;2.44-l/2 was up fractionally. No. 2 yellow mi lo sold in Fort ·v~orth Tue s day for a t p price of ~ 3. 05-1/2 per cwt. - 1/2 cent under the pe al~ of last vveek. Sorghum grain"' are selling for more than 50 cents per 100 poun·ls above the J e vel of-iast: summer·. AGrUCULTUnPI. NE:,J OF TEE WEEK J\fumbcr -100 Wednesday, Fovember ?8, 1951 -----------?age H--------· 2- Grain markets have beer1 rather sensitive for the past several weeks, reacting tO-talk of. pric~ ceilings, cease-fire ag~ent in ~~r~~' and other factors. A seasonal slump in demand hit the ric~ ~arket~ in Texas and Louisiana last week, according to the PMA; prices held barely steady. Prices offered by millers were generally below rovernrnent loan values. Most rice farmers found storage space for their rice and placed it under loan. Cool temperatures and dry soils in northvrest ·rexas and adjoining areas of ~fow Mexico and Oklahoma have slowed development ·o f the winter wheat crop. Very little grazing has been provided by the crop thus f'a.r this seaso-n:---·- - - 1 I VE S T 0 CK Prices of many classes -of livestock --on-the Fort ·~ orth market strengthened slightly last -;eek after having declined for sever&l consecutive weeks' accordingto re.Ports of the USDA~ On Tuesday, November 27, Good and Choic~ slalJght.er steers and yearlings cc.shed at t,iJO.OO-J.5 .. 00, while Utility and Comrr:erciar-ofr'erings...werc soldfrom-$22.00-JO .. OO.. Utility a.nd Comnercial grade cotvs were sold from $21.00-26eOO, while canners c:ni cutters sold mainJy from $13.00-21.no. Mediu1 End Good stocker and feeder steers and steer yearlings cashed at $27. 00- 3.3. OOo ----·--------Good and Choice slaup-hter calves sold Tuesday at .$29.00-34.75, while Utility and Commercial ?rades brought ::?21.-00-29. 00. Choice 180-270 pound hogs brought $18 • .50 and $18. 75. Heavier and lighter ho ,s cleared from $17.00-18.250~~ · Good, Choic~and Prime shorn slaughter lambs sold from ~28~00-30c00~ A few Good slaughter ewes brought ~a3. OO_o_Common ..toGood feeder lc:Jmos moved out from $20.00-2h.OO. ------- - if 0 0 L D A M' 0 H A I R 'I rading continued slow in the Boston marke.tlast unchaneecl from previous ,yeek~accordin to the PMl'... :eek. Prices were about A small quantity of average 12-months original bag Texas wool, averarre French combing length) sold last v; )k at an estim-1te:d clP., n r)rice of ar011nd $1. 85 per pound, delivere to Boston. There has been very little activity in the mohair narkets in the 0outh"rest for several weeks. However, some mohair ras reportecCpurchased in Texas last week at $1.11-1/2 for adult and c·i. 36-1/2 for kid mohair. J POU LT HY 1\here has been some seasonal pickup l.n poultry prices in the Southwest during recent days. Broilers sold in East Texas on T es ay of this 'ie ,k at 25-26 ce ts per 1 ound-,or°2Cents o rer a 1eek e· rJ.ier o roilers in ~outh Texas areas co .• un~ d d 27-29 cents, up 3 cents from a we k a ·o. On the t< ort ... orth pro uce markr.>t ommercial f ·y rs sold thL we ~K at 25-27 cents per 1 ound for top rade, 24 centsanddown for lo· r grad Heavy hens rou ht 23-2 c~ntso 'urk y he n are r.in in 38-}~0 cents p r pound in Fort 'iortl, :vhil No. 1 toms are q11ote;:;-atJJ- S cents, v·i th uncl r rades at t e ual 8 to 10 c ~ nts off. 'I" I':). 0 ritchett A ric ltural Economist
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