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Number 131 Wednesday, Ju ly 2, 1952 COTTON 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. GRAI NS, 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. L I V E S T O CK 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. POULTRY 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. MI SCELLANEOUS 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
