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COTTON P r i c e c h a n g e s i n th e s p o t c o t t o n m a rk e t d u r in g t h e p a s t w eek w ere r e l a t i v e l y m in o r. The m a rk e t s t r e n g t h e n e d d u r in g t h e e a r l y p a r t o f t h e week an d m a rk e t a c t i v i t y i n c r e a s e d som ew h at, b u t p r i c e s c o n t in u e d t o h o ld j u s t u n d e r 39 c e n t s p e r pound f o r 1 5 / 1 6 -in c h M i d d li n g i n t h e 10 s p o t m a r k e ts . T h i s i s s l i g h t l y lo w e r t h a n t h e p r e v io u s week b u t w e l l ab o v e t h e l e v e l o f a b o u t 3k c e n t s p e r pound w h ic h p r e v a i l e d a y e a r a g o . Premiums f o r some o f th e b e t t e r g r a d e s an d medium l e n g t h s h a v e w id e n e d , w h i le d i s c o u n t s f o r some o f t h e lo w e r g r a d e s h a v e n a r r o w e d . R e p o r te d s a l e s i n t h e 10 s p o t m a rk e ts d u r in g t h e week en d ed A u g u s t 28 t o t a l e d 11+9,900 b a l e s , com pared w it h 102,300 t h e p r e v io u s week and 1 9 9 ,0 0 0 i n t h e c o r r e s p o n d in g week a y e a r a g o . M i l l b u y in g i n c r e a s e d m o d e r a t e ly an d w as m o s t l y f o r prom pt s h ip m e n t. T here w ere some i n c r e a s e d i n q u i r i e s f o r e x p o r t c o t t o n , w it h l i m i t e d s a l e s r e p o r t e d t o F r a n c e and J a p a n . The t e x t i l e m a r k e ts g e n e r a l l y re m ain e d i n a c t i v e , w it h p r i c e s about u n ch an ged . R e p o r ts i n d i c a t e t h a t more fa r m e r s a r e h o l d i n g t h e i r c o t t o n th a n w as t r u e e a r l i e r i n th e s e a s o n . R e p o r ts o f g r o w in g damage t o t h e c r o p b e c a u s e o f d r o u g h t a p p e a r t o be i n f l u e n c i n g some p r o d u c e r s t o h o ld t h e i r c o t t o n i n a n t i c i p a t i o n o f h ig h e r p r i c e s . C o t t o n g in n e d i n th e U n i t e d S t a t e s p r i o r t o A u g u s t 16 t o t a l e d 1*JU2, U00 b a l e s , compared w i t h 6 2 6 ,2 0 0 b a le s a s o f t h a t d a t e l a s t y e a r . A b o u t 3 9 6 ,0 0 0 b a l e s o f t h i s t o t a l w ere g in n e d i n T e x a s . T h i s was o n e - t h i r d l e s s t h a n g in n i n g s a s o f t h a t d a t e i n 195>1. C o t t o n g in n e d i n T e x a s t h i s y e a r a v e r a g e d lo w e r i n g r a d e b u t a b o u t t h e same in s ta p le le n g th a s f o r l a s t y e a r . C ro p p r o s p e c t s c o n t in u e d t o d e c l i n e i n much o f t h e S o u t h w e s t , a s d r o u g h t and h i g h t e m p e r a tu r e s c o n t in u e d o v e r t h e week e n d . I n c e n t r a l and n o r t h T e x a s , grow th an d f r u i t i n g h a v e s t o p p e d , an d p i c k i n g o f p r e m a tu r e ly open b o l l s h a s become g e n e r a l. S c a t t e r e d sh o w e rs on t h e n o r t h e r n H ig h P l a i n s a i d e d t h e c r o p i n t h a t s e c t i o n , an d r e p o r t s c o n t in u e t o i n d i c a t e t h a t a r e c o r d c ro p w i l l be p r o d u c e d on t h e H ig h P l a i n s . H a r v e s t i s a b o u t c o m p le te i n t h e L o w e r R i o G rand e V a l l e y and i s a s much a s 60 p e r c e n t c o m p le te i n many c o u n t ie s o f t h e C o a s t a l Bend s e c t i o n . RICE H a r v e s t o f a r e c o r d r i c e c r o p i n T e x a s and L o u i s i a n a i s i n f u l l s w i n g , w it h g ro w e rs a n x i o u s l y w a t c h in g r e p o r t s o f h u r r i c a n e s i n t h e C a r ib b e a n . The h o t , c l e a r w e a th e r o f r e c e n t w eeks h a s b een i d e a l f o r co m b in in g t h e g r a i n . The m a rk e t i s g e n e r a l l y f i r m , w i t h c o n s i d e r a b le volum e o f t h e c r o p m o vin g t o t h e m i l l s on p r e v io u s c o n t r a c t s o r d a i l y s a l e s . Q u a li t y i s re p o r te d b e t t e r th a n a y e a r a g o . S a l e s o f N o . 2 Z e n i t h w ere r e p o r t e d a t $ 5 .5 6 t o $ 5 .7 9 p e r 100 p o u n d s , d r y b a s i s . N o . 2 P a t n a b r o u g h t $5.U5 t o $ 5 .9 8 p e r 100 p o u n d s . A s l i g h t s h i f t to w a rd m e d iu m -g r a in v a r i e t i e s i s i n d i c a t e d t h i s y e a r b y a r e p o rt o f th e R ic e M i ll e r s A s s o c ia t io n . A c c o r d in g t o t h i s r e p o r t , 6 0 .6 p e r c e n t o f th e s o u th e r n r i c e a c r e a g e w as p l a n t e d t o l o n g - g r a i n v a r i e t i e s t h i s y e a r , a s com pared w it h 6 3 .3 p e r c e n t i n 1 9 5 1 . B lu e b o n n e t i s a g a i n t h e l e a d i n g v a r i e t y , w it h R e x o r a secon d. LI VES TOCK P r i c e s o f v i r t u a l l y a l l c l a s s e s o f l i v e s t o c k showed f u r t h e r d e c l i n e s d u r in g th e p a s t w e e k . R e l a t i v e l y h e a v y r e c e i p t s a t F o r t W o rth and o t h e r t e r m in a l m a rk e ts d u r in g t h e w ee k , e s p e c i a l l y on M onday, t o g e t h e r w i t h some w ea k n ess i n p r ic e s o f d r e s s e d m e a t s , w ere m a jo r f a c t o r s i n s e t t i n g o f f f u r t h e r d e c l i n e s . On Saturday# A u g u s t 3 0 , m o st c a t t l e and c a l v e s c l o s e d $1 t o $2 p e r c w t . lo w e r th a n t h e p r e v io u s w ee k . H ogs w ere o f f 50 t o 75 c e n t s an d s p r i n g lam bs w ere o f f fro m $ 1 t o $2 p e r cwt. P r i c e s on th e F o r t W orth l i v e s t o c k m a rk e t on S a t u r d a y , A u g u s t 3 0 : Good and C h o ic e s l a u g h t e r s t e e r s and y e a r l i n g s , $21; t o $32 p e r c w t . 5 f a t co w s, $ l l t .5 0 to $ 1 8 .0 0 ; cu t t e r s an d e a r n e r s , $9 t o $ l l u 5 0 ; G ood and C h o ic e s l a u g h t e r c a l v e s , $23 to $ 2 7 ; Good and C h o ic e s t o c k e r c a l v e s , $21; t o $ 2 9 , w it h a few h i g h e r ; s t o c k e r s t e e r y e a r l i n g s , g e n e r a l l y $17 t o $ 2 6 , w it h some l i g h t w e i g h t s t o $27 and h i g h e r ; Good and C h o ic e f a t s p r i n g la m b s , $21; t o $ 2 8 , w it h s t o c k e r and f e e d e r lam bs fro m $10 to $ 2 0 ; Good and C h o ic e b u t c h e r h o g s , $ 2 1 t o $ 2 1 .2 ^ 1 GRAINS P r i c e c h a n g e s on t h e F o r t W o rth G r a in and C o t t o n E x ch a n g e w ere r e l a t i v e l y m in o r d u r in g th e p a s t w e e k , w it h no s i g n i f i c a n t t r e n d s e v i d e n t . Some w ea k n ess was e x h i b i t e d i n c o r n and w h e a t. G r a in men on t h e m a jo r m a rk e ts r e p o r t e d no im p o r ta n t f a c t o r s i n t h e m arket t h a t a r e l i k e l y t o l e a d t o p r i c e c h a n g e s . Closing prices on the Fort Worth Grain and Cotton Exchange, Friday, August 29* were: No. 1 hard wheat, $ 2 .6 0 -3 / 1 ; per bushel; No. 2 white c o m , $ 3 .1 7 - 1 / 2 ; N o . 2 y e l l o w c o m , $ 2 .1 1 -1 / 1 ;; N o . 2 w h ite o a t s , $ 1 .1 1 -1 / 1 ;; and N o . 2 y e l lo w m i l o , $ 3 .5 1 p e r c w t . P O U L T R Y P r i c e s f o r T e x a s f r y e r s and b r o i l e r s w ere g e n e r a l l y s t e a d y t o s t r o n g d u r in g t h e week ended A u g u s t 2 9 . I n S o u t h T e x a s , p r i c e s w ere q u o te d g e n e r a l l y a t 33 c e n t s and i n t h e E a s t T e x a s and Waco a r e a s , m o st b i r d s moved a t 32 c e n t s p e r pound Due t o t h e h o t w e a t h e r , lo n g e r f e e d i n g p e r io d s h a ve b een r e q u ir e d f o r t h e c h ic k e n s t o r e a c h d e s i r a b l e m a rk e t w e i g h t s . A s a r e s u l t , t h e r e h a s b een some s c a r c i t y o f b i r d s w e ig h in g 2 .7 t o 3 p o u n d s . Some p r o c e s s o r s d rop p ed o u t o f t h e m a rk e t b e c a u s e o f th e s h o r t a g e o f h e a v i e r b i r d s . C h ic k p la c e m e n ts i n T e x a s d u r in g t h e week en d ed A u g u s t 23 t o t a l e d 961;#000, com pared w it h 81;6,000 d u r in g t h e co m p arab le week a y e a r e a r l i e r . P la c e m e n ts d u r in g t h e p a s t 5 w eeks h a v e shown r e l a t i v e l y l i t t l e ch an ge i n v o lu m e . T e x a s t u r k e y g ro w ers a r e r a i s i n g 3*7 03 *0 0 0 b i r d s t h i s y e a r - a n i n c r e a s e o f 15 p e r c e n t o v e r a y e a r a g o , a c c o r d i n g t o a r e p o r t b y t h e D e p a rtm e n t o f A g r i c u l t u r e T h is w i l l be t h e l a r g e s t cr o p s i n c e 19U5* when 3 *7 6 9 *0 0 0 w ere r a i s e d . The r e p o r t i n d i c a t e s t h a t a b o u t 18 p e r c e n t o f t h i s y e a r * s t u r k e y s a r e B e l t s v i l l e w h i t e s o r o t h e r l i g h t b i r d s * com pared w i t h a b o u t 10 p e r c e n t i n 1 9 5 1 . The p r o d u c t i o n o f tu rk e y " b r o i l e r s ” ( a v e i y l i g h t - w e i g h t , f a s t - g r o w i n g t u r k e y ) h a s n o t become s i g n i f i c a n t i n th e S t a t e , b u t t h e r e a r e some i n d i c a t i o n s t h a t t h i s ty p e o f b i r d i s b e co m in g more p o p u la r w i t h b o th g ro w e rs and co n s u m e r s . T e x a s g ro w ers i n d i c a t e t h a t t h e y p l a n t o s e l l 90 p e r c e n t o f t h e i r b i r d s p r i o r t o J a n u a r y 1 n e x t y e a r . I n th e N a t i o n , th e t u r k e y cro p i s r e p o r t e d a t a r e c o r d h i g h o f 5 8 ,9 5 6 ,0 0 0 b i r d s - 13 p e r c e n t ab o v e a y e a r a g o . V i r g i n i a , T e x a s* C a l i f o r n i a * M in n e s o t a , and Io w a r e p o r t e d t h e l a r g e s t i n c r e a s e s . Carl H. Moore A gricultural Economist
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