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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Wednesday, March 5, 195G ACRE AGE RE S E RVE --·------·- S I GNUP S U. S. farmers signed applications covering nearly 11.9 million acres of wheat, corn, and cot_tOtl for maximum payments. of $lf32 million through--the February 20 deadline for s1gi1ir1g 195 0 Acreage Reserve agreements ·f or these crops, according to preliminary reports from State Agricultural Stabilization and Conservation (ASC) committees. ~ddi~~o n al offerings of acreage by farmers on waiting lists (registers) in county ASC offices would bring the totals to 17.8 million acres and $703 million for these three crops. The following table shows acreage signed on applications, total acreage offered (including that 0;1 waiting lists), and maximum payments for the 1953 crops of wheat, corn, and cotton in the Nation. -~ AC~~AGE~SI~~_E_D_~~ Maximum payments Ac res Wheat ... . Corn .... . Cotton .. . Total .. l:., GGl, 514 3' 9 36,, 353 TOTAL ACREAGE OFFERED - - -·- ·- - - - - - -·· - - - - Maximum Acres paymen~ _ 3 , 0)_6 , 9 9 G $ 97,191,060 106,740,392 _168.i_l_32._263 5' 4.4:)' 253 7,258,007 5,106,157 $107,201,950 312,985,995 _?_Q.h51 6?99 2 ll,092,u.'.i5 $432,271,621 17, Ll0,417 $ 702' 70l;.' 945 RESEAL PROGRAM FOR GRAINS The U. S. Department of ;(griculture recently announced a !_~seal program to permit keeping 12..?7-ci::._~. .£._~rn, barley, oats, and wheat in certain areas in farm ~qE-~ under reseal for a,1other year and extending loans for another ;ear Oi.1 farm·· stored 1956 - crop wheat aud 1955 - and 1956 - crop corn now under reseal. State ASC committees will determine whether or not the program should apply in their states. !li&_ibilit y re_qu_irements. for grains under the reseal program will be the same for both quality and storage as under the original loan. In areas where State ASC committees announce a program, farmers who desire to participate should make application to their county ASC offices before the loan maturity date. The 1958 ma~uri!_y dates for the four grains are: Wheat, March 31; oats, April 30; barley, March 10 and April 30; and corn, July 31. S~or~ E_a~~~t.2_ for the full year's reseal or extended reseal will be 10¢ per bu. for cor11 and barley, 12¢ per bu. for oats, and 16¢ per bu. for wheat in some states and 17¢ in others. If a farmer redeems his resealed graiil prior to the lew maturity date, his storage payment will be prorated. W 0 O_L_ _P_R_O Y-_J!_~_!'_!_ 0 N !:!_. -~· wool_ .PE9_d_uction during _!957 is estimated at 209 million lbs., or 4% less than the 1956 output aud 3/ below the 1940-55 average, according to the AMS. _8J10~ ~ool accounted for Ou% of the 1957 total, and pulled wool made up the remainder . The y_alue of sales of 1957 - crop wool (exclusive of incentive payments) is placed at $12C ~illion, reflecting a 21% increase from the year-earlier total. In the states of the Eleventh Federal Reserve District (Ari zona, Louisiana, New Mexico, Ol.lah~~-~1.1dT-e;;;s ) , wool output in 1957 totaleclSS,072,000 lbs., or 0 7% below the 1956 production. than a year ago. The value of sales, at $30,323,000, was 17% higher L I VE S T 0 CK Cattle and calf receipts at Fort Worth on Monday, March}, were about the same as a week ago; however, the actual number offered to buyers was less, since about a fourth of the supply had been previously contracted or purchased prior to arrival, according to the AMS. In addition, stockers and feeders comprised about 60% of the receipts, thus the supply of slaughter cattle was the smallest in many weeks. The cattle run totaled about 2,100, compared with 3,000 on the comparable date last year. Trading on slaughter cattle was moderately active, and prices generally were fully steady. Demand for stockers and feeders continued strong. Good 825- to 1,100-lb. slaughter steers brought $25 to $26 per cwt.; the bulk of the Utility and Commercial cows, $17 to $18.50; and mostly Good stocker steers weighing up to 615 lbs., $25.50 to $26.50. The calf supply is placed at 500, or 100 fewer than a week ago and 400 below the year-earlier level. Trading on slaughter calves was very uneven. Good and Choice slaughter calves cleared at $26 to $27.50, and mostly Good 400- to 500lb. stocker steer calves brought $27 to $28. Monday's hog marketings are estimated at 500, reflecting declines of 37% from a week ago and 50% from the corresponding date in 1957. Prices for butchers were 50¢ to 75¢ per cwt. higher than in the latter part of the previous week, while those for sows were steady. Mixed U. S. No. 1 through No. 3 Grades of 195-to 250lb. barrows and gilts were quoted at $21.75 to $22.25. Sheep and lamb offerings were about 1,600, compared with 1,100 on the preceding Monday's market and 4,700 a year ago. Prices were mainly steady. Good and Choice 80- to 95-lb. slaughter spring lambs brought $23 to $24.50 per cwt. P 0 UL T RY The Texas commercial broiler markets were generally steady during the week ended Friday, February 28, reports the State Department of Agriculture. Closing prices - which were mostly unchanged from the week-earlier level - were 22¢ to 23¢ per lb. in south Texas and 21¢ in east Texas and Waco. During the corresponding period in 1957, closing prices were 20¢ per lb. in all these areas. Area Week ended February 22, 1958 Percentage increase frorn ~revious Comparable week week, 1957 DROILER CHICK PLACEMENTS Texas .....• Louisiana .. 2,355,000 508,000 10 18 7 33 22 states .. 30,049 000 3 17 D 0 WN S H A R P L Y F I R E S F 0 RE S T Fires in national forests during 1957, at 7,200, were 42% below the yearearlier figure and 35% under the 1952-56 average, reports the USDA. The ~ burned totaled 133,447 acres, which was 47% less than in 1956. There were 3,274 man-caused fires last year - the smallest number since the record low in 1933. Accor~ the USDA, the reduction in man-caused fires indicates that forest fire prevention campaigns have paid off. NAT I 0 NAL J. Z. Rowe Agricultural Economist
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