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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE

Number 359

BANK OF

DALLAS

Wednesday, November lL, 1956

NATIONAL
FARM
CITY
WEEK
The President of the United States has proclaimed November 16-22, 1956,
"
as National Farm-City Week. In making the proclamation, he requested urban
groups to join in the observance, along with farm groups, 11 as evidence--ofOur
appreciation of all those on the farms and in the cities of this Nation who
have worked so well in providing us with the food and the goods that we need
and enjoy. 11
,,"
Kiwanis International is the coordinating body for observance of FarmCity Week, in which many civic, farm, industrial, business, and agricultural
organizations will take part. In thousands of communities throughout the
-::- United States and Canada, farm and city people will meet together to get better acquainted and to learn more about each other's problems, viewpoints, and ;,
situations.
i\

i\

PEANUT
MARKETING
QUOTA
REFERENDUM
On November 6 the U. s. Department of Agriculture announced that the referendum on marketing quotas for the 1957, 1958, and 1959 crops of peanuts will be
held on December 11, 1956. If at least two-thirds of the farmers voting in the
referendum favor quot~they will be in effect for the next 3 years. If the quotas
are not approved, they will not be in effect for the 1957 peanut crop, and another
referendum will be held in 1957 on quotas for the 1958, 1959, and 1960 crops.
GOVERNORS
A S S I S T I N DROUGHT PROGRAM
T 0
The Secretary of Agriculture recently authorized governors of seven
drought states (Colorado, Kansas, Nevada, New Mexico, Oklahoma, Texas-, and Utah) to
designate persons entitled to reduced rates from western and southwestern railroad.S
for shipment of hay and livestock. According to the USDA-;-t'he purp ose of this action is to enable farmers and stockmen to obtain maximum benefits from the reduced
rates which the railroads have voluntarily given in recognition of the serious
drought situation.
In addition to designating classes of persons entitled to the reduced
rates, the governors are authorized to redelegate to state agents or agencies the
authority to execute railroad certificates. Previously, the Farmers Home Administration county supervisors were authorized to execute the certificates for stockmen
eligible for-assistance under the Federal-State Cooperative Agreement.
AGRICULTURAL
EXPORTS
The value of U. S. agricultural exports for July-Septemb r this year is
estimated at $99 0 million,-reflecting a 33% increase from the corresponding period
in 1955, reports the USDA. Cotton shipments showed the greatest gain and are estimated to be more than triple the year-earlier value.
~~

POULTRY
During· the week ended Friday, November 9, the ma.ior Texas commercial
broiler markets opened firm and followed a general strengthei1ing trend through
the close, reports the State Department of Agriculture. Closing prices were 2¢
to 3¢ per lb. higher than in the preceding week, with the following prices quoted:
South TexaS'; 17¢ to 18¢; east Texas, 17¢ to 18.5¢, mostly 18¢; Waco, 18¢; and the
Corsicana F.O.B. plant, 19¢. During the corresponding period last year, closing
prices were: South Texas and the Corsicana F.O.B. plant, 24¢; east Texas, 22¢ to
23¢; and Waco, 22¢.
Percentage change from
Previous
Comparable
week
week, 1955

Area

Week ended
November J, 1956

Texas ••••••
Louisiana ••

l,686,000
230,000

-L

-1

-30

22 states ••

20,667,000

3

9

BROILER CHICK
PLACEM~NTS

-L

1 I VES T 0 CK
Cattle receipts at Fort Worth during the week ended Thursday, November 8,
totaled an estimated 10,200, reflecting declines of 30% from the preceding week and
8% from the corresponding period in 1955, reports the Agricultural Marketing Service.
Slaughter cows comprised a little more than a third of the cattle supply. Trading
on beef steers and yearlings was very slow, and prices were 50¢ and more per cwt.
lower than a week earlier; while prices of cows were strong to 50¢ higher. Choice
slaughter steers brought mostly $20 to $22; Utility cows, $10 to $12; and Good
stocker and feeder steers (mainly yearlings), $15 to $17.
The calf supply is placed at 3,200, or 1,000 fewer than a week earlier but
about the same--as-a year ago. Trading on slaughter calves was uneven, while the
market for stocker and feeder calves was fully steady. Good slaughter offerings
sold at $15 to $17.50, and Good steer calves brought $16 to $18 per cwt.
Hog receipts are estimated at 1,900, compared with J,500 in the preceding
week and 1,700 during the comparable period last year. Prices of butcher hogs during the latter part of the week were mostly 50¢ per cwt. higher than a week earlier.
U. s. No. 1 through No. 3 Grades of 200- to 245-lb. slaughter hogs were quoted at
$15.50 and $15.75.
Sheep and lamb marketings totaled an estimated 6,LOO, which is 26% fewer
than a week earlier but 10% more than a year ago. Prices of slaughter lambs were
50¢ to $1 per cwt. lower than in the latter part of the previous week, and those
for feeder lambs were steady to 50¢ lower. Good and Choice 75- to 90-lb. wooled
and shorn slaughter lambs cleared at $17.50 to $20.
No report was received from the Fort Worth livestock market for Monday,
November 12.

J. z. Rowe
Agricultural Economist