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Number 3L3



Wednesday, July 25, 1956

The Nation's farmers approved the continuance of Federal controls on production and marketing of the 1957 wheat crop at a referendum held July 20. Preliminary reports indicate that 81.L% of the ~· ~· growers voting approved marketing
quotas; Texas wheat producers voted 93.2% in favor of the quotas. As a result of
the favorable vote, 1957-crop wheat will be supported at a minimum national average
of $2 per bu.
On July 18 the U. S. Department of Agriculture announced that, upon request of the purchaser of cotton sold by the Commodity Credit Corporation under
the export program, the CCC will draw drafts, accept payments, and deliver-warehouse receipts for the cotton, beginning July 23, 1956. According to the USDA
officials, starting to release cotton on this date-will help alleviate the congestion in banks and warehouses which would result if the action were delayed.
None of the cotton sold under the current export program (which was announced on February 28) can be exported before August 1, 19S6.
I N C 0 ME
Revised estimates of the USDA place cash receipts from farm marketings
in the District states during the first 5 months of 1956 at $973,071,000, or only
1 percent less than in the January-May period last year. Receipts from livestock
were 3 percent larger, while those from crops were 7 percent less.
The cattle supply at Fort Worth on Monday, July 23, totaled an estimated
8,000 - about the same as a week earlier but double the receipts at the same time
in 1955, according to the Agricultural Marketing Service. Trading on all classes
of cattle was active. Prices of slaughter animals were fully steady with those in
the latter part of the past week, while those for stockers and feeders were mostly
50¢ per cwt. higher. Choice slaughter steers brought $20.50 to $21 .50; Utility
cows, ~~9 .SO to $11.50, mostly $10 to $11; Medium and Good stocker and feeder steers,
!1tl3 to ~~17 .50; and Medium and Good feeder heifers, $12 to $1S .So.
Monday's calf receipts are placed at 1,700, compared with l,32S a week
ago and 900 on the corresponding date last year. Trading on slaughter calves was
slow, and prices were weak; however, sales of stockers and feeders were very active, and prices were around SO¢ per cwt. higher than in the past week. Good and
Choice slaughter calves sold at $1L .50 to $17, and Medium and Good stocker and
feeder steer calves brought $1L to ~18.
Hog marketings totaled an estimated 1,500, reflecting increases of LL%
from the preceding Monday and 114% from the same time in 1955. Trading was active,
and most sales of butchers were 50¢ per cwt. higher than in the latter part of the
preceding week. No. 1 through No. 3 Grades of mixed 200- to 265-lb. slaughter hogs
cleared at $16.25 to ~~16.7.5, with most sales at ~tl6.50.
Sheep and lamb receipts are estimated at 5,000, compared with L,150 a
week earlier-a:Ild~900 a year ago. Choice slaughter classes were very scarce.
Trading was fairly active, with all classes selling at steady prices. Good and a
few Choice slaughter spring lambs brought mostly $18 and $19 per cwt.

CAT T 1 E



0 N


The number of cattle and calves on feed for market in the 13 major feeding states of the Nation-is estimated, as of July r:;-1956, at 3,296,000 head,--a_c:
cording to the AlvJS. This number is 10% fewer than on the corresponding date last
year anrl reflects a seasonal decline of 22% from the April 1 level. The number of
cattle and calves placed on feed during the April-June period this year was 5%
larger than in the comparable quarter in 1955. Marketings were 8% greater, with
short-fed cattle showing a 2L% increase from a year ago.
In Texas the number of cattle and calves on feed for market, as of July 1,
is placed at 7L,OOO head, or L8% more than a year earlier but 20% fewer than the
April 1 total. Large commercial lots in the State had 5L,OOO head on feed on July
1 and were operating at a level L6% below that of a year ago. Marketings of cattle
out of feed pens during the April-June quarter this year totaled 78,000, and replacements were 59,000. During the corresponding period in 1955, marketings amounted
to 60,000 and replacements were only 26,000. If marketing intentions of Texas
cattle feeders are carried out, the total number of fed cattle going to slaughter
during July and August will be only moderately above intended marketings a year ago.
Most of the increased number in feed lots on July 1 are not expected to be markete~
until after September 1.
Texas commercial broiler markets held steady throughout most of the week
ended Friday, July 20, but developed a weak tone toward the close, reports the~~
State Department of-Xgriculture. Closing prices were unchanged to 1¢ per lb. lower
than in the previous week, with the following prices quoted: South Texas, 20¢ to
21¢, mostly 21¢; east Texas, 20¢ to 21¢; Waco, 20¢ to 21.5¢; Corsicana, at the farr,
21¢ to 21.5¢; and the Corsicana F.O.B, plant, 22¢ to 22.5¢. During the corresponding period in 1955, closing prices were: South Texas, 28¢ to 29¢, mostly 29¢; east
Texas and Waco, 20¢; and the Corsicana F.O,B. plant, 29¢ per lb.
On Monday of this week, broiler markets were unchanged from the past Friday's close in east Texas and about steady in south Texas and the Waco-Corsicana
area. Prices were: South Texas, 20¢ to 21¢, mostly 20¢; east Texas, 20¢ to 21¢;
Waco, 20.5¢; Corsicana, at the farm, 20.5¢ to 21¢; and the Corsicana F.O.B. plant,
21.5¢ to 22¢.
Percentage change from
week, 1955


Week ended
July lL, 1956

Texas ••••••
Louisiana ••




22 states ••





J. z. Rowe
Agricultural Economist