View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE

BANK OF

Number 402

DALLAS

Wednesday, September 11, 1957

WH E A T
ACRE AGE
WINTER
RE S E R VE
1 9 5 8
More than half a million acres of winter wheat "allotment" land were
placed under the 195~reage Reserve Program during the week ended A~t 30,
1957, which was the first week of sign-up for the 1958 program, according to preliminary reports of State Agricultural Stabilization and Conservation (ASC) committees. If farmers comply with the terms of their agreements, they will be eligible for payments totaling $9.8 million for the 505,536 acres of winter wheat
placed under the program thus far.
In New Mexico, Oklahoma, and Texas - the principal wheat-producing
states of the Eleventh District - 238,555 acres of winter wheat land were placed
under the 1958 Acreage Reserve Program during the week ended August 30, 1957.
Maximum payments for this acreage can amount to $3.2 million.
0 F
AGR I C UL T URE
YEARBOOK
1 9 5 7
The 1957 Yearbook of Agriculture, entitled Soil, contains up-to-the-minute
information on soil care which will be useful to home gardeners, as well as to farmers. The Yearbook, published by the U. S. Department of Agriculture, was writteQ
by 142 scientists in the fields of soil management, botany, chemistry, horticulture,
soil conservation, agronomy, irrigation, and others. Included are many tables of
measurements, graphs that show amounts of fertilizer to use, instructions about composting and improving soil structure, maps of soil and climate zones , and details
of farming practices throughout the country.
Copies of the 1957 Yearbook of Agriculture may be purchased at $2.25 each
from the Superintendent of Documents, Government Printing Office, Washington 25-,~­
D. C. Requests for copies should not be sent to the Department of Agriculture.

E XP 0 R T S
C 0 T T 0 N
Japan, West Germany, the United Kingdom, Italy, and France were the five
leading foreign customers for g. ~· cotton during the 1956-57 season, according to
the Agricultural Marketing Service. These countries took slightly more than 60% of
the 7.7 million bales of cotton exported from the United States during the past season. The balance of the exports went to 50 other countries.

P 0 UL T RY
The maior Texas commercial broiler markets were unsettled during the~­
day trade week following Labor Day, reports the State Department of Agriculture.
As compared with a week earlier, closing prices were mostly unchanged in south
Texas but were fully 1¢ per lb. lower in east Texas and Waco. The following closing prices were quoted: South Texas, 18¢ to 19¢, with the bulk at 19¢; east Texas,
17¢ to 18¢; and Waco, 17.5¢. During the corresponding period in 1956, closing
prices were: South Texas, 18¢; east Texas, 17¢ to 18¢, mostly 17¢; and Waco, 17¢.
On Monday, September ~' broiler markets were about steady in south Texas,
unsettled in east Texas, and weak to about steady in the Waco-Corsicana area. Prices
were: South Texas, 18¢, with a very few higher; east Texas, 17¢ to 17.5¢, mostly
17¢, with a very few reported higher; Waco, 17¢; and the Corsicana F.O.B. plant,
18¢ per lb.

BROILER CHICK
PLACEMENTS

Percentage change from
Comparable
Previous
week, 1956
week

Area

Week ended
August 31, 1957

Texas •..•.•
Louisiana ..

1,805,000
339,000

-1
-10

-4
9

22 states ..

24,858,000

-3

5

I N S P E CT I 0 N P R 0 GR AM
P 0 UL T R Y
On August 30 the Secretary of Agriculture assigned to the AMS the responsibility for administering the recently enacted Poultry Products Inspectio~ Act.
The Act requires that by January l, 1959, all poultry and poultry products moving
in interstate commerce must be inspected for wholesomeness. The Poultry Inspection
Act becomes partially effe"Cti;e ~ January !, 1958, when poultry processing plants
approved by the USDA may obtain the service. The gradual application of mandatory
inspection requirements has been provided to allow plant owners reasonable time to
make necessary plant alterations to meet facility standards required by USDA regula tions.

L I VE S T 0 CK
Cattle receipts at Fort Worth on Monday, September ~' totaled only an
estimated 3,900, or 46% below the level on the corresponding date in 1956, accord ing to the AMS. Trading was generally slow. Prices for most classes of slaughter
cattle were 50¢ to $1 per cwt. lower than in the latter part of the past week,
while those for stockers were about unchanged. The small supply of Good and Choice
980-lb. slaughter steers brought $23.50; most of the Utility and Commercial cows,
$13 to $14; and the bulk of the Medium and Good 450- to 900-lb. stocker steers, $18
to $20.50.
The calf supply of an estimated 800 was only about a third the yearearlier level. Prices for slaughter calves were generally steady. The major portion of the Good and Choice slaughter calves cleared at $18 to $20, and the limited
offerings of Good and Choice 425- to 500-lb. stocker steer calves sold at $22 to
$22.75.
Hog receipts are placed at 700, or 50% fewer than a year ago. Prices of
butchers were steady to 25~ lower than in the latter part of the preceding week,
while those for sows were steady to strong. U. S. mixed No. 1 through No. 3 Grades
of barrows and gilts brought mostly $21.50 per cwt.
Monday's sheep and lamb offerings totaled an estimated 2,200, compared
with 4,100 on the comparable date in 1956. Yearlings and aged sheep accounted for
approximately 60% of the supply. Trading was very slow, and prices were mixed.
Utility slaughter lambs sold at $17.50 to $20 per cwt.

J. Z. Rowe
Agricultural Economist