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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE
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SE.A.SON'S
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BANK OF
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G REETINGS
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Number 364
MARKETING
DALLAS
Wednes day , December 19, 1956
AP PROV ED
Q UO~AS
Marketing quotas were approv,ed. for the 19S7 crop s of rice and both upland and extra-long staple cotton in ·referen~ums held December 11, according to the
U. s. Department of Agriculture. Preliminary data indi cate that 91% of the rice
producers voting favored marketin~ quotas, 92,. %of the upl and cotton P-rowers approved quotas, and 95.L% of the roctra-long st~ple cotton produce r s favored marketi ng quotas. Peanut grower$ approVe d - ~he use o~ma.-.r'kBt ing quotas for the crops to
be produced in 1957, 195~,' and 1951 • Q.f the- -growers voti ng, 93 6% favoredthe cont inuation of quotas for the 3-year neriod.
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COTTON
With harvest virtnally complet~d bxcept in .Hest ern irrigatPd ~ rca s, the
1956 c?tton crop in ~he N2tion is es~imated,_as of Pecember ~~at 13,303,000 bales,
a ccording to the Agricul€ural MarKeti-ng ervice. Th~ out~~is 150,000 bales above
the month-earlier (forecast ~~d compares with the 1955 p~odu ction of 14,721, 000 bal es.
The lint yield pe~ l::tarve9ted acre, at --408 poundS)--. is exceeded only by last year's
record high of Ll7 pounct'S and---rs+"l2) pounds above the lOwye ar ( 19~5 54) average.
In the sta~ of the Jle~enthfede)'al Re ser ve Dist rict (Arizona, Louisiana ,
New Mexico, Oklahoma and Texas , the 1956 cotto!n c\{:op -1s piaced at 5,596, 000 bales 46,000 bales highe,Y' than the Nqvel ber 1 forecast bu L82, 000 ~ ales below the output
i n 1955.
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. 6I_TRUS
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The 1956 Q.r,Q.D.g,e crop in the Unitect- &t..a_it es tis indi cate
a -of December 1 ,
• Grapefruit E~at 135,915~000 bo~s, or ~ abo / B the-.1255 output, repOi'~S--t
duction is pTI.aceg at L3, 200, OQO boxes, whicf\ ;is..5% below a year earlier.
In th9! citrus-producing states of ~he Eleventh fus-=bri-nt U.rizona, Louisiana ,
and Texas), the 1956 orange crop is estidatsd at 3,4~5,000 boxes -~ 16% from a yea r
ago. Grapef~uit production is indicated at 6,000,000 ooxes, or 1 , 43~00 0 boxes mor e
than in 195).
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w rNTER vsa ~ r AB LEs
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' U• .s. prouuction of winter --i:re~tables in 1957 is expect ed to~ 10%-tfelow
a year earlier but ab.Q..ut e..qual to the 19 L9-5L average. output, report st_~ AMS.-Drought and a sno~tage of i:ifri§'{dtion wate-r in. south Texas are primar11y responsible
fo r the light outturn indicj3.ted this winter. Most si gnif ic a~reductions- re reported for cabbage and car:11ots.
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Frid~. te~e!b~r
ri~cipal
During the week/ en<l.e<i
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Texas commerc al
broil er ma rkets opened firTI'l'and then continued a gradual price advance through midtrading, -When prices became steady in all thJ a reas , r eports the (~~e Department of
Agriculture. Closing prices were unchanged to 2¢ J2_er _lb. higher ~a,h in the preceding
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week, with the following prices quoted: South Texas, 17¢; east Texas, 17¢ to 18¢;
lfa co, 17.5¢; and the Corsicana F.O.B. plant, 18¢. During the corresponding period
in 1955, closing prices were : South Texas and the Corsicana F.O.B. plant, 18¢ to
19¢; east Texas, 16¢ to 18.5¢, mostly 17¢; and Waco, 17¢ to 18¢.
NEW
BRUCELLOSIS
CONTROL
REGULATIONS
Effective January l, 1957, new Federal brucellosis (Bang's disease) control regulat ions will go into effect covering interstate movement of all cattl-e~
except steers, spayed heifers, and calves under 8 months of age, reports the AMS.
The new legislation is aimed primarily at strengthening and unifying control of
interstate movement of cattle relative to brucellosis - particularly to counties
and states already designated Modified Certified Brucellosis-Free under the accelerated Federal-State cooperative brucellosis eradication program. Violation of the
regulation is ~ Federal offense.
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1 I VES T 0 CK
Cattle receipts at Fort Worth during the week ended Thursday, December 13,
totaled an estimated 9,800, which is about 900 fewer than in the preceding week but
600 more than during the corresponding period in 1955, according to the AMS. Closing
prices of slaughter steers and heifers were unevenly steady to 25¢ per cwt. lower
than at the previous week's close, Nhile those for slaughter cows were 25¢ to 50¢
higher. The bulk of the supply of Good to Low-Choice slaughter steers sold at $17
to $19.75; canner and cutter cows, $6.50 to $9.50; and most Medium and Good stocker
and lightwei ght feeder steers, $12 to $16.
The calf supply, at an estimated 2,700, was a third below a week
earlier but 13% more than at the same time last year. Trading ranged from slow to
moderately active, and prices were steady to 50¢ per cwt. lower than in the past
week. The major portion of Good and Choice slaughter calves sold at $15 to $18,
and Medium and Good stocker and feeder steer calves cleared at $13 to $15.
Ho g offerings are placed at L,200, or 900 more than in the previous week
and more than triple the year-earlier receipts. The week's top pri ce for butchers
of $17.50 was the highest p rice paid on the Fort Worth market since September. u. S .
No. 1 through No. 3 Grades of 200- to 265-lb. slaughter hogs sold mainly at $17 and
$17.25 per cwt.
A large supply of 11,600 sheep and lambs was received at Fort Worth during
the week ended December lJ. Prices declined daily, and at the end of the week,
slaughter lamb prices were $1 or more per cwt. lower than in the preceding week.
Most Good and Choice 75-to 90-lb. shorn slaughter lambs with No. 1 and No, 2 pelts
brought $15 to $16.
J. z. Rowe
Agricultural Economist
@FedFRASER