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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE

d umber 429

BANK

OF

DALLAS

Wednesday, March 19, 1958

1 9 5 8
AC R E AGE
RE S E RVE
P R 0 GR AM
A total of 12. 2 mill ion "allotment" ~ of all wheat, ~' upland cotton, rice, and tobacco had been offered for the 1958 Acreage Reserve Program on applications signed and filed by U. S. farmers through the March 7 sign-up deadline
for the program, according to preliminary reports from State Agricultural Stabilization and Conservation (ASC) offices. In addition to these applications, other farmers have indicated their desire to participate in the program if funds are available.
Their applications, which are carried by county ASC committees on registers, boost
the total of "all offerings 11 to ~ ~ million acres for the 1958 Acreage Reserve
Program.
E AR L Y
S P R I N G L A M I3
CR 0 P
The 1958 early spring lamb crop in the major early lamb-producing states
is estimated to be about 2% above the 1957 crop, reports the Agricultural Marketing
Service. The gain is due to beth an increase in the number of breeding ewes and a
higher lambing percentage.
In Texas - the leading lamb-producing state in the Nation - indications
are that this year's early lamb crop will be much larger than the relatively small
spring crop in 1957. The number of breeding ewes is up 1%, and the lambing percentage is expected to be higher. The over-all spring movement of lambs in the State
probably will be earlier than usual. The demand for flock replacements continues
very strong, and some ewe lambs will be held for replacements, according to the AMS.

M0 H A I R 0 U T P U T
The 1957 mohair clip in the seven principal mohair-producing states totaled
about 19.1 million lbs,, according to the AMS. The outturn was 5% above that in 1956
and 23% larger than the 1946-55 average; Texas, the major producing state, accounted
for most of the increase. The value of mohair sales in the seven states in 1957 amounted to $16.9 million, reflecting ;-10% increase over a year earlier.
In Arizona, New Mexico, and Texas (the principal mohair-producing states
of the Eleventh District), mohair outturn in 1957 is placed at 18,792,000 lbs,, or
5% above the 1956 clip. The value of sales is estimated at $16,656,000, compared
with $15,174,000 in 1956.
F ARM L AD0 R
Farm emplo~nent in the United States totaled 5.4 million persons during
the week of February.!.§., or the smallest number of record for this date, reports
the AMS. The total reflected a seasonal gain of 3% over the month-earlier level,
comp ared with the 1953-57 average increase of 5%. Inclement weather over much of
the Nat ion , together with the general downward trend in farm laborers, accounted
for this smaller than usual rise from January to February.

MA N - MA D E

u

p

Production of man-made staple fiber in the Nation during 1957 is placed
at 606 million lbs., or 15% above the year-earlier outturn, according to the AMS.
Output of rayon and acetate stapl~, at 425 million lbs., was up 7%, while production of noncellulos i c staple, at 181 million lbs., was 42% greater.

M0 R E
P 0 UL T R Y P R 0 C E S S E D
A total of 25 million lbs. of poultry (ready-to-cook weight) was used in
canning and other processed foods in the United States during January 1958, according to the AMS. The figure is 46% above the 17.l million lbs. used in the~
month last year.

P 0 UL T R Y
The Texas commercial broiler markets remained generally steady during the
week ended Friday, March 14, points out the State Department of Agriculture. Overall trading was moderate in all the areas. Closing prices per lb. - which were unchanged from a week earlier - were 22¢ in south Texas and 21¢ in east Texas and Waco •
During the corresponding period in 1957, the following closing prices were quoted:
South Texas, 20¢; east Texas, 19¢ to 20¢; and Waco, 19~¢.
The Texas broiler markets continued steady on Monday, March 1.Z, and prices
were mainly unchanged from the preceding week's close.

Area

BROILER CHICK
PLACEMENTS

Texas .••.•.
Louisiana ..

Week ended
March 8, 1958

Percentage change from
Previous
Comparable
week
week, 1957

2,431,000
471,000

22 states •.

4
-3

23
17

1

13

L I VE S T 0 C K
The combined cattle and calf marketings at Fort Worth on Monday, March .!1,
were a few hundred head more than both a week ago and a year earlier, reports the
AMS. Stockers and feeders comprised about 65% of the total. The cattle supply, at
an estimated 2,100, compared with 1,700 on the preceding Monday and was about the
same as on the corresponding date in 1957. Trading was active on most classes, and
prices were generally strong. Standard and Good 600- to 800-lb. slaughter steers
cleared at $24 to $27 per cwt.; Utility and Commercial cows, $18 to $20; and most
Good stocker and feeder yearling steers, $27 to $28.
Calf receipts were 500, reflecting increases of 25% over a week earlier
and 67% over a year ago. Prices were mostly steady to strong. The majority of the
Good slaughter calves sold at $26 to $27.50, and most Good stocker and feeder steer
calves were quoted at $27 to $28.
Monday's hog supply totaled approximately 750, or 50 more than a week ago
but 150 fewer than on the comparable date last year. Dutchers sold at prices which
were steady to 25¢ per cwt. higher than in the preceding week. Most No. 1 through
No. 3 Grades of 200- to 250-lb, barrows and gilts brought $22 and $22.25.
Sheep and lamb offerings, at about 6,600, were the largest 1-day suppl~
since June 1957. Lambs accounted for about 98% of the total. Trading on spring
lambs was active, and prices were steady to strong. Good and Choice 69- to 101-lb.
slaughter spring lambs sold at $24 to $24.50 per cwt.
J. Z. Rowe
Agricultural Economist