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-~i~~~~F-E_D_E_R_A_L__R_E_S_E_R_V~E~B-A_N_K~O~F~D-A_L_L_A_S~~----------WednesdBiY, December 16, 1953

Number 207

Spot cotton prices continue to fluctuate within a narrow range and generally
below support levels. Cottonseed pricSS also are holding about stea~ at averages
of around $53.00 per ton in Texas and o.oo in Oklahoma.
CCC loan entries reported in the week ended December 4 were 403 1 300 bales,
which brought the total for the season through that date to 4,572,100 bales, or
slight~ ever one-fcurth of the 1953 crop. The total for the season thus far is
1 million bales below the record quantity pledged to CCC from the 1937 crop. In
onJJ 2 years - 1937 and 1948 - have CCC loan entries exceeded 5 million baleso
The Secretary of Agriculture announced last week his decision to recommend
to Congress an increase .!!! ~ national. cotton acreage allotment to approximately
21 million acres - an increase of about 3 million acres above the announced national
allotment of 17.9 million acres.
Reports on cotton ginnings to November 1 show the counties in Texas with
the largest number of bales ginned as followst Hidalgo 124,115, Ellis 115,329,
Cameron 93 1 015, Wharton 78,3111 Hill 69,884, Williamson 65,514, Navarro 64,209,
Reeves 63,174, McLennan 61,065, Ft. Bend 56,901 1 and Lubbock 53,JOO.
The USDA reports that production of winter vegetables in Texas is estimated to be 7 percent larger than last yea.rand 20 percent above the 4-year (194952) average. Total plantings are up 8 percent from a year ago but only 2 percent
above average.
Texas is expected to produce about the same amount of winter cabbage this
season as a year ago, while the Arizona crop is substantially lowero The two crops
are estimated at 130,000 and 13,200 tons, respective]3.
Winter carrot production in Texas, estimated at 5,075,000 bushels, also
about equals last year's harvest, while the Arizona crop of 880,000 bushels is well
below that of a year ago.
Winter lettuce production in Arizona is estimated at 2,500,000 crates, or
about the same as last year. Winter lettuce production in Texas has been increasing
rapidly in the past several years, and this season's crop of 1,890,000 crates is
about one-half million over last season's harvest.
Winter crops £!. broccoli ~ cauliflower in Arizona and Texas are down
slightl,y from a year ago. Also, winter production of commercial Irish potatoes in
Texas is expected to fall short of last year's harvest because of a curtailment in
acreage. However, the acreage of early spring Irish potatoes in Texas is expected
to more than double last year's relative'.cy- small acreage.

L I VE S T 0 C K
Reports from the Fort Worth livestock market last week indicate that prices
of slaughter steers tended somewhat lower, part]3 because of heavy supplies of fed
steers at Corn Belt points. However, there was a strong demand for replacement cattle
and calves, and prices for these classes were :firm to higher. Lambs were weak to
$lo00 lower and yearling muttons also declined. Hogs closed 50 cents lower.

On Mond8'Y of this week, trade continued slow on fed steers
Good fed steers and yearlings brought $16.00 to $19:'00, a few Choice
$20.50. A small suppzy of ·commercial cows brought $12.00 to $12.50,
Medium and Good stocker and feeder steers and yearlings cleared fran

and heifers.
$20.00 to
a few $13.00.
$13.00 to

Choice slaughter calves brought $18.oo to $19.00 in Fort Worth Monday,
a few to $20.00, Good most~ $15.oo to $17.$0, Camnercial $12.00 to $14.oo.
Butcher hogs sold steaey to 50 cents higher than last week's close.
Choice 190 to 2SO pounds brought $24.00 and $24.2). Wooled slaughter lambs sold
fran $17.00 to $18.50. Good and Choice shorn slaughter lambs turned fran $16.50
to $17.50.
There have been reports that wheat poiso~ has killed sane cattle
pastured on fields in the Texas Panhandle and Souti'lains. One cattleman is said
to have lost 51 calves, while another reported loss of 41 cattle. However, the
losses are said to have been negligible where cattle raisers have fed ample
roughage and a mineral mixture.
Minimum support price for 1954-produced wool is to be not less than 52.1
cents per pound, says a USDA announcement. This price reflects 90 percent of
estimated parity as of the beginning of the 1954 marketing year. The national
average support for 1953 wool production is 53.1 cents per pound.
The USDA also announced that the support level for 1954 mohair production
will be at 83 percent of the parity price for mohair as of the beginning of the
marketing year, April 1, 1954. The support for 1953 mohair is 80 percent of parity,
or 60.7 cents per pound.
Original bag, Average to Good French Combing 12-months Texas wool was
sold last week at about $1.75 per pound, clean basis. Fall wool or good length
brought $1.59, clean basis.
AMS reports that up to 400,000 pounds of mohair were purchased in Texas
last week. Surplus Kid sold at $1.75, regular Kid at ii.10, and Adult at 73 cents.
Texas broiler markets were mostly steady last week,although unsettled in
the south Texas producing area where sales were relative~ few. On Monciq ot this
week, prices were equal in all areas and about l cent lower, mostly 26 cents to
27 cents, for broilers or fryers weighing 2 1/2 to 3 pounds. There were 1,448,ooo
chicks placed on Texas fa:nns in the week ended December 5, according to USDA.
This is 4 percent more than in the corresponding week a year ago.
Local turkey markets in Texas were quiet last week and on Mondq of this
week,with too few sales to establish a market.
The Texas orange crop for the current season is estimated at 1.3 million
boxes, while the esti.Jlate of the grapefruit crop is placed at 1.1 million boxes.
This total citrus crop of 2.4 million boxes is 1 million more than a year ago. The
Arizona orange and grapefruit crops are estimated at 1.2 million and 3.3 million
boxes, respective~, each above a year ago.
!s.s. production in states of this District is running well above a year
ago, but totals for the first 11 months of 1953 indicate that the year's output
will fall substantia.111' lower than in 1952.
USDA estimates of @ production on farms in Texas and Oklahoma in November
are slightly above those of a year earlier.
W. M. Pritchett
Agricultural Economist