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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