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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Wednesday, March 21, 1956 Number 325 P R 0 S P E CT I V E P 1 A NT I NGS F 0 R 1 9 56 On March 16 the U. S. Department of Agriculture issued a report on the indicated acreages of certain crops to be planted in 1956. The rGport is based on replies from farmers in all parts ofthe country regarding their plans as of March 1, The acreages which are actually planted this year may be larger or smaller than the March 1 indicatioilsas a result of weather conditions,price changes, labor supplies, financial conditions, the agricultural program, and the effect of the prospective plant ings report upon farmers' actions. The table below shows the percentage changes in acreages of selected spring crops which farmers intend to plant in 1956 from the planted acreages in 1955 for the District states and the United States. PLANTINGS OF SELEGrED SPRING CROPS Five Southwestern States and United States (Percenta ge changes, 1956 from 1955) Area All corn Oats Barley -10 Arizona •••••••• Louisiana •••••• New Mexic o ••..• Oklahoma ••...•• Texas ••••••.••• -6 -2 -10 -4 -14 0 -13 -5 Five states •• -8 United States -L -10 -L All sorghums All hay_!/ Flaxseed Soybeans 0 -3 -14 -2 10 -8 -5 -11 0 -3 0 0 -6 2 -22 -10 50 -8 -9 -2 -2 -21 10 -L -8 # # 5 11 15 1/ Acreage harvested. Indicates change of less than one-half of 1%. SOURCE: U. s. Department of Agriculture. 71 LIVEST 0 C K Cattle receipts at Fort Worth on Monday, March 19, are estimated at 2,800, or about the same as a wee~earlier but '1;000 more than or1the corresponding date in 1955, reports the Agricultural Marketing Service. Fed steers and heifers comprised the major part of the offerings. Trading was slow on slaughter steers and heifers but was active on cows. Stockers and feeders moved readily and brought firm prices, Good fed steers sold at ~~ 16 to ~·17,50; Utility coi:·rn, ~~12 to $12 ,50; and Medium and Good yearling stocker and feeder steers, $14 to tl? .50~ Monday's calf supplies totaled an estimated 600, or about the same as both a week ago and on the comparable date last year. Most calves sold readily and brought generally steady prices, Commercial and Good slaughter offerings and Medium and Good stocker steer calves cleared at t 14 to ~' 18 per cwt. Hog receipts are placed at 1,100, which is 16% larger than on the preceding i'-'i onday and almost triple the supplies on the corresponding date in 1955 o Trading was active, and butchers sold at prices which were fully 50¢ per c1~. higher than in the latter part of the past week. Prices of sows were steady to strong. U. S. mixed No. 1 through Noo 3 Grades of 190- to 250-lb. butchers sold mainly at $14.50; a few lo t s of No. 1 and No. 2 Grades brought $14.75, or the highest price since early February, Monday's sheep and lamb marketings are placed at approximately 16,500 the largest receipts since micr.:M"ay last year. Spring lambs accounted for about onehalf of the supplies, and old-crop shorn lambs made up most of the remainder. Trading was very slow. Prices of spring lambs were 50¢ lower than in the latter part of the past week, and those for old-crop slaughter lambs were steady to 50¢ 101.rnr. Slaughter ewes and feeder lambs held mostly steady. Good and Choice spring lambs were quoted at $19 to $21 per cwt. 1 9 5 6 E AR1 Y S P R I NG 1 A MB CR 0 P The 1956 early spring lamb crop in the principal early lamb-producing states of the Nation is estimated to be 2% below that in the previous year, as a result of the smaller number of breeding-ewes, reports-rhe AMS. The 1956 lambing percentage (lambs saved µ;r 100 ewes) is about the same as the 1955 percentage. In Texas the 1956 early spring lamb crop is estimated to be smaller than a year earlier:--T°his decrease is the result of a 4% decline in the number of breeding ewes in the State on January 1 this year and a smaller percentage of ewes lambin early. POULTRY The major Texas broiler markets held mostly steady throughout the week ended Friday, March 16, reports the State Department of Agriculture. Tractlng was actlVe in all the areas. Closing prices - which were unchanged to 1¢ per lb, higher than on the preceding Friday's market - were: South Texas, 23¢, a few at 24¢; east Texas and \rTaco, 22¢; and the Corsicana F.o.B. plant, 22¢ to 23¢. During the corresponding week in 1955, the following closing prices were quoted: South Texas, 29 ¢ to 30¢, mostly 29¢; east Texas, 30¢ to 31¢, mostly 30¢; Waco, 30¢; and the Corsicana F.O.B. plant, 31¢ pe~ lb. The principal Texas broiler markets were steady to firm on Monday of this week, with the following prices quoted: South Texas, 23¢ to 2L¢; east Texas-,-2V(a few at 1/2¢ premium); Waco, 22¢; and the Corsicana F,O,B, plant, 22¢ to 23¢ per lb. BROIL~R Percentage change from Comparable Previous week week, 1955 Area Week ended March 10, 1956 Texas •••••• Louisiana •• 1,891,000 269,000 -2 2 24 23 22 states •• 24,217,000 2 22 CHICK PLA C~l1 1ENT S J. Z, Rowe Agricultural Economist