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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE

BANK

Number 370

OF

DALLAS

Wednesday, January 30, 1957

FARM
INCOME
Cash receipts from farm marketings in the states of the Eleventh Federal
Reserve DiStr'ict (Arizona, Louisiana, New Mexico, Oklahoma,--:3:nd Texas) during January-November 1956 amounted to $2 ,867,689,000, or 1% above those in the corresPOriding months a year earlier. Receipts from both crops and livestoc~and livestock
products wereu_p-1%. For the first 11 months of 1956, cash rPceipts in all of the
District states except Texas were above the comparable period in 1955; receipts in
Texas were 3% lower.
PEANUTS
U. s. peanut supplies (excluding peanuts on farms and shelled oil stock)
on December-JI""; 1956, totaled 1,180 million lbs. of equivalent uncleaned, unshelled
peanuts, reports the Agricultural Marketing Service. The quantity is 1% above the
year-earlier level.
- - - -Millings of farmers' stock peanuts for the first L months of the current
season (which began-September 1, 1956) totaled L31 million lbs., compared with ~76
million lbs. for the first L months of the 1955 season. Millings of Runner-type
peanuts were well above those in the previous season, while millings of both Spanish
and Virginias were lower.

MI 1 K

P R 0 DUCT I 0 N

UP

U. S. milk production per cow on January 1, at 18.21 lbs., was a fourth
above the average for that date and .81 lb. higher than the previous record high
of 17.LO lbs. on January 1, 1956. Total milk production in December 1956 is estimated at 9,278 million lbs., or 1% more than the year-earlier level and 15% above
the 19LS-5L average.

LI VEST 0 CK
Receipts of all classes of livestock except sheep and lambs were unusually
small at Fort Worth on Monday, January 28, undoubtedly as a result of icy .£2ads and
inclement weather, reports the AMS~ The cattle supoly, at an estimated l,OOO, was
only a third of both the week-earlier and year-ago levels. Fed cattle made up most
of the sales; stockers and feeders were scarce. Prices of slaughter steers were
strong to 50¢ per cwt. higher than in the preceding week , and those for other classes
were strong. Good and Choice beef steers brought ~ lR to ;-·.20; most Good and Choice
slaughter heifers, $18 to $19; canner and cutter cows, $9 to $11; and Medium and
Good stocker and feeder steers, ilL to f17.50 .
Calf marketings totaled only 100, compared with 800 a week earlier and
700 on the corresponding date in 1956. The limited supply sold early in the day at
pri ces which were strong to 50¢ higher than in the past week. Good and Choice
slaughter offerings sold at $17 to $19 , and Medium and Good stocker steer calves
cleared at $1L to $18.
Monday's hog supply is placed at 500, reflecting declines of 50% from a
week earlier and 6L% from a year ago. Butchers sold early at prices which were
steady to 25¢ higher than in the latter part of the preceding week, while prices of

sows were 50¢ to $1 lower. u. s. No. 1 through No. 3 Grades of 200- to 265-lb.
slaughter hogs brought $19.50.
Sheep and lamb offerings, at an estimated L,200, were 600 more than on
the preceding Monday's market but 1,550 fewer than at the same time last year.
Trading was fairly active. Prices of slaughter lambs were strong to 50¢ higher t han
in the latter part of the past week, and those for other classes were steady. Good
and Choice shorn slaughter lambs with No. 1 and fall-shorn pelts were quoted at $18
to $18.50.
POULTRY
The major Texas commercial broiler markets were steady during the week
ended Friday, January 25, according to the State Department of Agriculture. Closing prices - which wereunchanged from a week earlier in east Texas and Waco and 1¢
per lb. higher in south Texas - were: South Texas, 19¢; east Texas, 18¢ to 19¢,
mostly 18¢; and Waco, 18¢. During the corresponding period in 1956, the following
closing prices were quoted: South Texas, 22¢; east Texas, 21¢ to 22¢; and Waco,
21¢ to 22¢, mostly 21¢.
On Monday, January 28, broiler markets were firm in south Texas and Waco
and steady to firm in east Texas. Prices were: South Texas, 20¢, with a few
lower; east Texas, 18¢ to 19¢; and Waco, 18.5¢.

BROILER CHICK
PLACEMENTS

Percentage change from
Comparable
Previous
week
week, 1956

Area

Week ended
January 19, 1957

Texas ••••••
Louisiana ••

2,103,000
290,000

-3
-13

17

22 states ••

24,0JO,OOO

0

16

TREE

P L A NT I N G

HI T S

26

REC0RD

Forest tree planting in the United States reached a record high in 1956,
with trees set out on 915,L28 acres, reports the u. s. Department of Agricult~
State forestry and other cooperating agencies were primarily responsible for the
accomplishment. Further increases in tree planting are expected during the next
10 to 15 years as a result of the Agricultural Act of 1956, with its Conservation
Reserve program and other tree-planting provisions.
F ARM C0 - 0 P
BUS I NE S S
I NCRE AS E S
Farmer cooperatives did a net business of $9.6 billion in fiscal 1954-55,
reflecting a 1.4% increase from 1953-54, according to a recent report of the Farme r
Cooperative Service of the USDA. Of the total net business, marketing volume account ed for $7.L billion; farm supnly volume, $2 billion; and related services, $195
million. Dairy products, with net sales of $2,385 million, ranked first in net value
of the various products marketed.

J. z. Rowe
Agricultural Economist