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- AGRICULTURAL NEWS OF THE WEEK ~~i~-----F-E_D_E_R_A__L__R_E_S_E_R_V_E_·_B_A~N-K---0-F__D_A__L_L_A_S________________ Number 433 Wednesday, April 16, 1958 W I N T E R W HE AT The 1958 national winter wheat crop, based on April 1 conditions, is indicated at 964 million bushels, according to the Agricultural Marketing Service. This outturn would be 6% above the December 1 forecast, almost 36% larger than the 1957 production, and 13% more than the 10-year (1947-56) average. The indicated yield of 21.9 bushels per seeded acre is the highest of record and compares with 18.8 in 1957 and the 10-year average of 15.9. The following table shows indicated output of winter wheat in 1958 for the five states in the Eleventh Federal Reserve District and comparisons with 1957 and the 10-year (1947-56) average. WINTER WHEAT PRODUCTION Five Southwestern States (In thousands of bushels) 1958 Indicated April 1 1957 Average 1947-56 Arizona ......•... Louisiana .....•. , New Mexico,,, ... , Oklahoma ...••.•.• Texas ... , ......•. 4,316 1,182 4,056 76,330 56,608 2,142 1,344 1,732 43,025 33,669 735 l/537 2,353 71, 001 43,687 Five states .... 142,492 81,912 118,313 Area 1/ Short-time average. SOURCE: U. S, Department of Agriculture. T E XA S VEGE T ABL E S COMMERCIAL Based on April 1 conditions, production of spring-crop vegetables in Texas this year is expected to be 2% above the 1957 output and 6% greater than the 1949-56 average, reports the AMS. Significant acreage changes from last year are the substanti al increase in Lower Valley tomatoes, which more than offset a smaller onion acreage in south Texas. Crops are later than usual in all early spring areas. F I V E M I L L I 0 N T H RE A CONSUMER The Rural Electrification Administration has approved loans providing electric service for more than five million consumers, announced the U. S. Department of Agriculture. Service for the five millionth rural consumer was provided in loans approved during the previous week. The REA has approved a total of $3.6 billion in loans to 1,080 electric borrowers, largely rural electric cooperatives. These cooperatives operate electric facilities serving rural areas in about 2,600 counties in 45 states. P 0 UL T R Y During the week ended Friday, April l!_, trading conditions in the Texas commercial broiler markets continued irregular and unsettled for the second full week, according to the State Department of Agriculture. Closing prices - which were unchanged to 1¢ per lb, lower than a week earlier - were 19¢ in south Texas and Waco and 18¢ to 19¢, mostly 19¢, in east Texas. During the corresponding period in 1957, closing prices were: South Texas, 18¢ to 19¢, mostly 18¢; east Texas, 18¢ to 19¢; and Waco, 18~¢. On Monday, April 14, broiler markets were steady in south Texas and were unsettled in east Texas and Waco. Closing prices were 19¢ per lb. in south Texas, 18¢ to 19¢ in east Texas, and 18~¢ in Waco. BROILER CHICK PLACEMENTS Percentage change from Previous Comparable week week, 195 7 Area Week ended April 5, 1958 Texas •.• , .. Louisiana .. 2,528,000 443,000 -3 29 18 22 states .. 31, 134 000 5 14 6 L I VE S T 0 CK Cattle marketings at Fort Worth on Monday, April 14, are placed at 1,100, the smallest Monday supply since January 1957, points out the AMS. Trading on most classes was slow, and prices ranged from barely steady to strong. The following prices per cwt. were quoted: Standard slaughter steers and heifers, $22 to $25; Utility and Commercial cows, $17 to $19; and Medium and Good 550- to 700-lb. stocker steers, $22 to $28. Calf receipts totaled about 400, or 100 more than on the previous Monday but 100 fewer than on the corresponding date in 1957. Slaughter calves sold at ful l steady prices. Good grades of slaughter calves brought $26 to $28 per cwt., and stocker and feeder steer calves cleared at $28 to $29.50. Monday's hog supply was sharply curtailed, probably as a result of rainfall over the marketing territory. At an estimated 500, the receipts were 37~lo' the week-earlier level and 44% less than a year ago. Butchers sold early in the da) at prices which were mostly 25¢ per cwt. lower than in the latter part of the preceding week; however, late trading was fairly active, and most of the early price decline was recovered. U. S. No. 2 and No. 3 Grades of 190- to 265-lb. barrows and gilts sold mainly at $21.25 and $21.50. Sheep and lamb offerings were slightly over 5,000 head, compared with 6,3 on the previous Monday and 8,300 a year earlier. Trading was slow, especially on spring lambs. Prices of slaughter spring lambs were 50¢ to $1 per cwt. lower than in the latter part of the past week, while those for all other classes were fully steady, Good and Choice 80- to 95-lb. slaughter spring lambs brought $23 to mostly $23.50. J. Z. Rowe Agricultural Economist