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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF Number 418 DALLAS Wednesday, January 1, 1958 WH E A T WINTER winter wheat seedings for the 1958 crop returned to near the preSoil Bank level, as participation of winter wheat in the Acreage Reserve Program was sharply below that of a year earlier, according to the Agricultural Marketing Service. The seedings are estimated at 43.9 million~' or a sixth larger than plantings for the 1957 crop but a fifth below the 10-year (1946-55) average. Based on conditions as of December 1, 1957, and other factors, the 1958 national winter wheat crop is indicated at 906 million bushels. A crop of this size would be the fourth largest of record, 28% above the 1957 crop, and 5% greater than the 10-year average. The table below shows acreage seeded for and indicated production of the 1958 winter wheat crop for the states of the Eleventh Federal Reserve District and comparisons with the crops of 1957 and 1946-55. Q. ~· WINTER WHEAT Five Southwestern States ACREAGE SEEDED (In thousands of acres) Crop Crop Crops of of of 1958 1957 1946-55 PRODUCTION (In thousands of bushels) Crops Crop Crop of of of 1957 1946-55 1958.!/ Arizona •••.••.•.. Louisiana •.•..•.. New Mexico •...•.• Oklahoma •••.•••.• Texas ••.•..••.•.• 104 139 312 4,490 3,538 69 132 297 4,276 3,159 594 6,432 5,988 3,328 1,807 3,120 62,860 45, 994 2,142 1,344 1,732 43,025 33,669 617 ])374 2,526 72, 900 47,339 Five states •.•• 8,583 7,933 13,076 117' 109 81,912 123,756 Area 27 Jj35 ll Indicated December 1, 1957. ~/ Short-time average. SOURCE: U. S, Department of Agriculture. GRA I N S 0 RGHUM L 0 AN DA T E E X T E N D E D The deadline date for taking out price support loans and purchase agreements on 1957-crop grain sorghums has been extended ! month - through February 28, 19 58 - by the u. S. Department of Agriculture. The deadline was extended from the original date of January 31 in order to give producers more time to find storage and to dry grain sufficiently to make it eligible for price support. P I G C R 0 P The 1957 R!.g crop in the Nation is placed at 89.7 million, which is only slightly above the 1956 crop, points out the AMS. The spring pig crop of 52.6 million was 1% smaller, while the fall crop of 37.1 million was 2% larger. The rise This publication was digitized and made available by the Federal Reserve Bank of Dallas’ Historical Library (FedHistory@dal.frb.org). in the fall crop resulted from a 1% increase in both the number of sows farrowed and the number of pigs saved per litter. At 7.06, the number of pigs saved per litt er was the highest of record for a fall crop. Reports on breeding intentions indicate that a total of 7.8 million sows is expected to farrow in the spring of 1958, or 6% more than the number farrowed last spring. If intentions for spring farrowings materialize and the number of pigs saved per litter is about equal to the 1946-55 average, the 1958 spring pig crop will be about 56 million head. A crop of this size would be 6% larger than the 1957 spring crop. LIVESTOCK The rather small supplies of cattle and calves offered at Fort Worth on Monday, December 30, 1957, showed little change from the numbers available a week earlier but were several hundred fewer than on the comparable date in 1956, according to the AMS. The cattle~' at an estimated 1,500, was 100 fewer than on the previous Monday's market but 1,100 below those of a year ago. Trading on slaughter cattle was active, and prices for practically all classes were the highest since the fall of 1952. The following prices were quoted: Good 700- to 1,000-lb. slaughter steers, $24 to $26; most Utility cows, $16 to $17.50; and Medium and Good stocker yearling steers, $19 to $25 per cwt. Calf receipts are estimated at 500, compared with 400 on the preceding Monday's market and 900 on the comparable date in 1956. Trading was active, and prices were strong to 50¢ higher than in the past week. A few Choice slaughter calves sold at a top price of $27, and Good stocker and feeder steer calves brought $24 to $26.50. Monday's hog marketings are placed at 600, or 25% below those of a week ago but about the same as a year earlier. Trading was very slow as a result of lower bids. Prices ranged from steady to 50¢ per cwt. higher than in the past week. Mixed U. S. No. 1 through No. 3 Grades of 195- to 250-lb. barrows and gilts cleared at $20 and $20.25 per cwt. Sheep and lamb offerings totaled approximately 2,000,which is 200 more than on the previous Monday's market but 1,400 fewer than on the comparable date in 1956. Trading was fairly active, with slaughter lambs selling at prices which were fully 50¢ per cwt. higher than in the past week. Good and Choice 82- to 95-lb. shorn slaughter lambs with mostly No. 1 pelts brought $21.50 to $22.50. up H I DE S AND S K IN S E XP 0 RT S 0 F U. S. exports of all types of hides and skins totaled approximately 8.3 million pi;ces during January-September 1957, ~pared with about 6.3 million during the same months of 1956, points out the Foreign Agricultural Service. Exports of cattle hides in 1957 rose 34%; calf and kip skins, 15%; and sheep and lamb skins, 73% Area BROILER CHICK PLACEMENTS Week ended December 21, 1957 Percentage change from Previous Comparable week week, 1956 -1 Texas •••••• Louisiana •• 1, 713' 000 307,000 14 -12 16 22 states •• 25,485 000 1 11 J. Z. Rowe Agricultural Economist