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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK N11mber 425 OF DALLAS Wednesday, February 19, 1958 L I VE S T 0 C K I NVE NT 0 R Y The combined inventory of livestock and poultry on farms and ranches in the United States as of January l, 1958, was 1% under the year=;arlier level and 10% below the all-time high reached on January 1, 1944, according to the Agricultural Marketing Service. Sheep were the only species of livestock which showed an increase during 1957. As compared with January 1, 1957, numbers of cattle were down 1%; hogs, down only slightly; she~, up 2%; horses and mules, down 6%; chickens, down 5%; and turkeys, down 6%. The following table shows the numbers of livestock on farms and ranches in the states of the Eleventh Federal Reserve District on January 1, 1958, and the yearearlier comparisons. LIVESTOCK ON FARMS AND RANCHES, JANUARY 1 Five Southwestern States (In thousands) Hogs Cattle SheeE 1958 1957 1958 195 7 1958 1957 Arizona .••.••.•• Louisiana .•••• ,. New Mexico •••••• Oklahoma •••••••• Texas ••••• , •••.• 943 1,883 1,056 2,938 7,736 975 1,961 1, 112 3,018 7,736 34 386 35 3l.l7 908 27 501 40 394 946 445 95 1,208 244 4,864 472 99 1, 139 245 4 ~ 7l~9 Five states ••• 14,606 14,802 1, 710 1,908 6,856 6,754 Area SOURCE: U. s. Department of Agriculture, The number of goats in Texas at the beginning of this year totaled an estimated 2,864,000 head, or-2% more than on January 1, 1957. This increase was a continuation of the upward trend in goat numbers in the State which began in 1953. F 0 0 D D0 NAT I 0 NS During the last half of 1957, more than 339 million lbs, of food were donated through the direct distribution program of the ~ for use in school lunch programs, in institutions, and by needy persons in this country, according to the U. s. Department of Agriculture. Among recipients of these foods, which were donated from surplus stocks, were 3.1 million needy persons in family units, 13 million school children taking part in school lunch programs, and 1.4 million needy persons in charitable institutions, Donations of food to recipients in this country during the last half of 1957 were about a third below the year-earlier level. USDA officials point out that the decrease was due to the fact that several commodities distributed a year ago were not available for donation during the first 6 months of the current fiscal year. In the District states the number of needy persons in family units receiving donated commodities as of January 1, 1958, were: Louisiana, 103,398; New Mexico, 30,034; Oklahoma, 194,894; and Texas, 55,613. P 0 UL T R Y Poultry prices in the major Texas commercial broiler markets gained general strength during the week ended F~,~uary 14, reports the State Department of Agriculture. Closing prices were 1¢ to 2¢ per lb. higher than in the preceding week, with the following prices quoted: South Texas, 21¢ to 22¢, mostly 22¢; east Texas, 20¢, with a very few at 21¢; and Waco, 20¢. During the corresponding period in 1957, closing prices were: South Texas, 20¢; east Texas, 19¢ to 20¢; and Waco, 19~¢· On Monday, February .!.Z, broiler markets were quiet in south Texas, steady to firm in east Texas, and steady in Waco. Prices per lb. were 20¢ to 21¢, mostly 20¢, in east Texas and were 20¢ in Waco. There were too few sales in south Texas to establish a market. Area UROILER CHICK PLACEMENTS Week ended February 8, 1958 Percentage change from Previous Comparable week week, 1957 Texas ••.••• Louisiana •• 2,229,000 380,000 -1 0 -4 14 22 states •• 29,044,000 1 10 L I VE S T 0 CK A comparatively moderate supply of 1,700 cattle was received at Fort Worth on Monday, February lZ., reports the AMS. The receipts compare with 1,300 a week earlier and 2,300 on the corresponding date in 1957. Trading on slaughter steers and heifers was slow early in the day but was active at the close. Trading on stocker and feeder cattle was fairly active, and prices were fully steady. Good 830- to 960lb. slaughter steers cleared at $25 to $26.25; Cutter cows, $15.50 to $17; and Good 550- to 725-lb. stocker and feeder steers, $22 to $25 per cwt. The calf~ is placed at 500, or 25% more than a week ago but 17% fewer than a year earlier. Trading on slaughter calves was fairly active, and prices were generally steady with those in the latter part of the previous week. Good grades of slaughter calves brought $25 to $26.50, and stocker and feeder steer calves sold at $25 to $28. Monday's hog receipts totaled slightly over 400, compared with 600 a week earlier and 900 on the comparable date last year. After a slow start, butchers sold at prices which were fully steady with those in the latter part of the past week. No. 2 and No. 3 Grades of 195- to 250-lb. barrows and gilts were quoted at $21.50. Sheep and lamb marketings were about 2,700, or the largest receipts since July 1957. Trading was slow and somewhat uneven. Prices for Good and Choice slaugh' ter lambs were steady, while those for Utility slaughter lambs and all classes of slaughter yearlings were weak to $1 per cwt. lower than in the preceding week. Most of the 85- to 102-lb. shorn slaughter lambs with No. 1 pelts brought $23 to $23.50. J. z. Rowe Agricultural Economist
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