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Number 131

Wednesday, Ju ly 2, 1952

Cotton prices in the domestic market moved lower la s t week. There was
considerable s e llin g influenced by developments regarding the Abernathy B i l l .
Middling 15/16-inch cotton closed out the week in Dallas at 39.95 cents per pound,
compared with 1*0.80 cents a week e a r lie r .
The Abernathy B i l l would have provided for an increase in the 1952
cotton loan rate of I*.30 cents per pound, i f a crop of 16 m illion bales or more
were to be forecast by the USDA; however, the Senate Agriculture Committee fa ile d
to take favorable action on the b i l l . The main objection to the b i l l was that i t
gave cotton preferential treatment over the other basic commodities.
The decline in wheat prices continued la s t week. No. 1 hard wheat closed
in Fort Worth Saturday at $ 2 . 1*14- 1 /1* per bushel, top p rice, which is the lowest since
November 1950. The close was 1*1 cents below the December peak.
A fter almost a year of irregular r is e , sorghum grain prices declined
during June. No. 2 yellow milo closed in Fort WonEbT*last weelc atT$3^18 per cw t.,
compared with $3*27 a week e a rlie r and $3.35 a month ago.
White corn p rices, on the other hand, rose during most of June. No. 2
grain closed in Fort Worth la s t week at $2.52 per bushel, or about 20 cents over a
month ago.
Prices of other grains are showing only small week-to-week net changes on
the Fort Worth marked LasL week’ s closing prices: No. 2 barley $1.55; No. 2 white
oats $1.06; and No. 2 yellow corn $2.19-1/2 per bushel.
Livestock market receipts f e l l o f f la s t week following sharp price declines
in the preceding week. As a re su lt, livestock prices generall y held steady, with a
few exceptions.
Plain and medium grade beef steers and yearlings were weak to 50 cents
per cwt. lower; stocker ca ttle were strong to $1.00 higher. Good and choice
slaughter and stocker calves were strong to $1.00 higher, while other calves generally
were steady. Spring lambs gained $1.00 to $2.00 during the week.
Last week1s closing prices per cwt.: Good and choice slaughter steers and
yearlings $27~to $32.50, and common, plain and medium sorts $17 to $25; fa t cows
brought $15.50 to $21; good and choice fa t calves cashed at $26 to $31; common and
medium butcher calves sold for $17 to $2lt; good and choice slaughter spring lambs
cashed at $23 to $27; and hogs brought $20 to $ 20 . 50 , top p rice.
R elatively small supplies of goats in San Antonio la s t week sold steady
to weak. Most common and medium angoras brought $8 to $8.50, few $9 to $9.50.
Demand for meats in the Chicago wholesale meat trade was narrowed la s t
week by hot, humid weather. A ll buyers cut their requirements to a minimum and many
were operating v irtu a lly on a hand-to-mouth basis.- I t was generally a buyers market
a ll the way through and a l l price changes were in a lower d irection.

Texas b ro iler markets held steady la s t week. Dressing plant demand
was f a ir to good while truck demand was mostly good. The week’ s closing prices:
south Texas 30 cents; east Texas and Waco area 28 to 29 cents.
The BAE reports that 1,251**000 broiler chicks were placed on Texas
farms during the week ended June 21, which was I*, 000 fewer than a week e a r lie r but
11 percent more than during the corresponding week la s t year.
A USDA study ju s t concluded says that there is a need for more san itatio n
in the handling of poultry to prevent spread of “a ir sac in fe c tio n .” Movement
from one poultry farm to another without proper d isin fection is a factor in spread­
ing disease. Rubber boots and coats which can be e a sily disinfected are strongly
recommended fo r anyone moving between poultry farms.
The USDA has announced that minimum price support levels for 1952 crop
peanuts w ill be based on a national average of not less than $239.1*0 per ton, and
w ill vary according to types and areas. The support prices w ill be increased i f
90 percent of parity at the beginning of the marketing year, August 1, exceeds
$239.1*0. Warehouse and handling charges w ill be paid by producers. The support rate
fo r Spanish type peanuts west of the M ississippi River is set at $232 per ton.
O riginal bag 12 months, good French combing and staple wools sold at
Del Rio la s t week at 61* cents to 6? cents per pound, in the grease; a few exceptional
lo ts were reported up to 71* cents, in the grease.
A few small lo ts of mohair sold in Texas la s t week at $1.12 to $1.15 per
pound to be used fo r woolen purposes.
The current issue of The A gricultural S itu atio n , published by the USDA,
contains an in teresting a r tic le en titled “Why Don’ t Farmers Do More To Stop S o il
Erosion?” . Out of 15 “ obstacles” considered as hindrances in the program to reduce
s o il erosion, 1* stood out above a l l others, according to the opinions and experiences
of farmers interviewed. They were: (1) required changes in farm enterprises (more
liv e sto ck , e t c .) are costly; (2) rental agreements either do not e x ist between
landlord and tenant, or they do not provide fo r sharing additional costs or benefits
of s o il erosion control practices; (3) mortgage indebtedness and the annual cash
outlays fo r operating and liv in g expenses keep them from making additional expendi­
tures for erosion control; and (l*) there is often a short expectancy of tenure due
to tenancy, retirement, or other fa c to rs.
On the Farmers’ Market in Dallas at the end of la s t week, tomatoes brought
$3 to $6 per bushel. Texas watermelons averaging 30 to 32 pounds bulked at
1* to 5 cents per pound. Irish potatoes sold at $3.50 to $1* per bushel.
The week of Ju ly 20-26 has been designated “Farm Safety Week.” In an
announcement concerning th is observance, the USDA says that on the basis of past
records, accidents w ill k i l l 1*1 farm residents each day for the next 12 months;
a disabling injury w ill strike a farm resident every 2l* seconds; and about 6,000
farm residents w ill be k ille d and over 200,000 injured in motor vehicle accidents
during the year.
W. M. P r itc h e tt
A g r ic u ltu r a l Economist