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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 317 Wednesday, January C AT T 1 E AND CA1 VE S 0 N 25, 1956 F E E D The number of cattle and calves on feed for market in the United States, as of January 1, 1956, is placed at 5,e23,ooo, reports the Agricultural Marketing Service,. This-compares with 5,786,000 on feed at the same time last year and the 1950-5L average of 5,001,000. In Texas the number of cattle and calves on feed for market, as of January 1, is estimated at 1L3,000, which is 8% more than at the same time in 1955. In the irrigated areas of the High Plains - where large crops of grain, hay, and silage were produced during the past year - cattle feeding on farms is at a much higher level than in January 1955. However, a lower level of farm feeding in other parts of the State is more than offsetting the increase in the High Plains, Cattle marketings in Texas during January are expected to total approximately 32,000, or somewhat above those a year earlier. Intentions are that marketings during February and March this year will be at a much faster rate than during the corresponding months in 1955 ,, LIVESTOCK Cattle and calf receipts at Fort Worth on Monday, January 23, totaled only 3,200, or 33% fewer than a week earlier and 39% below the supply at the same time in 1955, reports the AMS. Trading of beef steers was slow, and prices were steady to weak; sales of other cattle were fairly active and brought fully steady prices, Most Good slaughter steers sold at $16 to $18; beef cows, $11 to $12; and Good stocker steers, ~15.50 to $17. Prices of calves were fully steady with those at the past week's close; Choice butchers brought mostly $18 to ~18.50, and Medium and Good stocker steer calves cleared at $13~50 to $17.50. Hog supplies are estimated at 500, compared with 1;260 on the preceding Monday's market and L39 at the same time in 1955. Trading was fairly active, with butchers and sows selling at 25¢ to 50¢ higher than in the latter part of the past week. Heavyweight butchers and sows showed the greatest upturn in prices. No. 1 to No. 3 Grades of mixed 200- to 270-lb. slaughter hogs brought $12.25 to $12,75, with those weighing 268 lbs, and less selling mainly at ~;,12 ,50, Sheep and lamb marketings totaled L,200, or about 700 fewer than a week earlier but nearly double the receipts on the corresponding day a year ago, Trading on slaughter lambs was active, and prices were mostly steady to strong, Shorn feeder lambs brought prices that were steady to 50¢ per cwt. higher than in the latter part of the previous week. Good and Choice 85- to 100-lb. slaughter lambs cleared at $17 to $18, including No. 1 and No, 2 pelt lambs at $18. POULTRY During the week ended Friday, January 20, the principal Texas broiler markets opened weak but were generally steady at the close, according to the AMS. Closing prices were unchanged to 3¢ per lb. lower than in the preceding week, with the following prices quoted: South Texas and Waco, 19¢; east Texas, 18¢ to 20¢; and the Corsicana F.O,B, plant, 20¢ per lb. During the corresponding week in 1955, closing prices in all the areas were mostly 25¢. On Monday, January 23, the major Texas broiler markets were steady to firm. Trading was moderate in-south Texas, heavy in east Te~as, and normal in the Waco-Corsicana area. The follo~ing prices were quoted: South Texas, 19t to 2lt; east Texas, 19t to 2li, mostly 20t; Waco, 19t to 20i, mostly 20p; and the Corsicana F .o.B., plant, 20,,5, per lb, During the week ended January lL, 1956, broiler chick placements on Texas farms totaled 1,727,000, according to the AMS. This is about 1% below placements in the previous week but is one-third above those during the comparable period in 1955 C> HATCHERY PRODUCTION Commercial hatchery production in the United States during December 1955 was the largest of record for the month~ reports-the AMS:- The output of chick-s~ totaled 118,77L,OOO, compared with 86,971,000 during the same month in 195L and t~e 19L9-53 December average of 8L,315,000. The demand for chicks for both broiler output and egg production is strong, and a record or near=record hatch is in prospect for January. The output of broiler chicks in Texas during December - which usually is a month of relatively light operations - is estimated at 7,866,000, ~r 59% larger than a year earlier and 58% above the 19L9-53 average for the month. C0 TT 0 N S A MP 1 I N G R E GU1 AT I 0 NS On January 9, 1956, the U. s. Department of Agriculture announced that revised cotton sampling regulations under the Smith-Doxey classing service provide that -::1. Each sample must be representative of the bale from which it is taken. 2 ., Samples shall not be dressed or trimmed and shall be handled carefully in such a manner as not to cause loss of leaf, sand, or other material or otherwise change their representative character. 3. Samples shall not be handled by any person other than the sampling agent prior to shipment or delivery to the cotton classing office. 4. Only one sample from each bale of eligible cotton shall be submitted for classification under the program, except for a review classification or a reclassification. W0 R 1 D AG R I C U1 T U R A1 P R 0 DU CT I 0 N World agricultural production in 1955-56 is one of great abundance and is surpassIIl'gthat in any previous seasori-; according to a survey recently completed by the Foreign Agricultural Service. The new index of world agricultural production (which includes both crops and livestock) is 119% of the pre-World War II (1935-39) average, compared with 117% in 1954-55. This is the third consecutive year since the prewar period that the increase in farm output has exceeded the rise in world population. The index of world population in mid-1955 was 117% of the 1935-39 average. - - - --J. z. Rowe Agricultural Economist
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