The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK Humber 4.41 OF DALLAS Wednesday, June 11, 1958 AI D F 0 R ~~~~~- C 0 Mu A T I N G G R A S- S H 0 P P E R S -~~~~~~~-~~~~~~~~ . The Federal government will bear 1/3 of the cost of insecticides used on rangeland, roadsides, and idle land in infested areas to prevent further cropland invasion by grasshoppers. Cost sharing arrangements are provided by existing StateU. S. Department of Agriculture agreements, according to the Secretary of Agriculture. Grasshopper invasions are occurring in southeastern Colorado, southwestern Kansas, northeastern New Mexico, western Oklahoma, and northern Texas. R I C E ELIGIBLE F 0 R J A R T E R Stocks of rough rice held E_y the Commodity Credit Corporation have been made eligible for export under the barter program on or after August 1, 1958, according to USDA officials. The rice may be shipped as milled, unpolished milled, or brown rice. Under this program, CCC rice will be available for overseas shipment on a competitive bid basis. Successful bidders will be required to export the rice to countries to which these imports will represent a net addition to U. S. rice marketings and not a substitute for sales through regular commercial channels. C 0 T T 0 N __C_R_O_P__S_E_~_T_S___S_O_M_E__i:_\J_E._t·_J___L_O_W_S 1 9 5 7 Harvested acreage of 1957-crop cotton in the Nation, at 13.6 million acres, was the lowest since 1878, points out the Agricultural Marketing Service. This acreage compares with 15.6 million acres in 1956 and with the 10-year average of 22 million acres. As a result of unfavorable harvesting conditions, the quality of the 1957 crop is reported to be the lowest on record with a grade index of 91.S, compared with 96.0 in 1956 and 93.2 in 1955. Also, prices received by farmers for the cotton crop during the 1957-58 marketing year have been the lowest in nearly a decade. A GR I CUL T URAL I S T S & T 0 E XCHANGE V I S I T S The Q. .§.. will send groups of agricultural specialists to Russia this summer and early fall, and the U.S.S.R. will send~ similar number to this country. Additional groups will exchange visits in 1959. The fields to be studied by the American delegations are agricultural economics, crops, soil and water use, veterinary science, mechanization of agriculture, and cotton growing and plant physiology. Russia is expected to send specialists in agricultural mechanization, animal husbandry, irrigation and reclamation, agricultural construction and eletrification, veterinary science, and forestry, lumbering and millwork. CAT T L E E XP 0 RT S DE C L I NB Exports of U. S. cattle during the first quarter of 1953 were sharply below those in the same-period a year earlier. Exports declined from 23,817 head in January-March 1957, to 4,118 head during the first 3 months of this year. llowever, breeding cattle exports in the first part of 1957 were exceptionally large as a result of Mexican purchases under a $5 million dollar Export-Import Dank loan. Another $5 million dollar loan for purchases of breeding cattle has been granted this year, but activity has been restricted as a result of drought in northern Mexico and the relatively high prices of U. S. breeding stock. F L 0 R I DA C I TRUS T RE E DAMAGE A recent cro~-~r-e_p_o_r_t_i_n_g~s.ervice release on the freeze damage to Florida citrus trees this past winter estimates that 75% of bearing orange trees, 81% of bearing grapefruit trees, and 79% of the tangerine trees escaped with minor or no damage P 0 UL T R Y Texas commercial broiler markets generally were steady throughout most of the week ~nded Friday, June £, points out the State Department of Agriculture. Clos ing prices - which were mostly unchanged in south Texas and east Texas to 1¢ per lb. higher in Waco - were 21¢ in south Texas and east Texas and 20~¢ to 21¢, mostly 21¢, in Waco. Closing prices on the corresponding date a year ago were 21¢ in all areas. On Monday, June 2, commercial broiler markets were steady in south Texas and Waco and about steady in east Texas, Prices were unchanged from the previous week's close. Area DROILER CHICK PLACEMENTS Week ended May 31, 1958 Percentage change from Previous Comparable week week, 1957 Texas ..... . Louisiana .. 2,996,000 538,000 11 42 37 22 states .. 36,207,000 1 26 0 L I VE S T 0 CK Cattle receipts at Fort Worth on Monday, June 9, totaled 4,000, or 900 fewer than a week ago and 4,100 below the year-earlier figure, according to the AMS About a fifth of the cattle were cows. Trading on slaughter steers and heifers was moderately active, and prices were generally steady with those in the latter part of the past week. Good 600- to 1,000-lb. slaughter steers sold at $25.50 to $27 .50 per cwt. ; Good 550- to 7 50-1 b. stocker and feeder steers, $24 to $ 26; and Commercial cows, $19 to $20.50. Calf supplies were placed at 1,000, or 10% more than a week ago but 50% fewer than on the comparable date last year. Slaughter calves brought strong prices clearing at $24.50 to $27. Good stocker and feeder steer calves sold mainly at $26 to $23. Receipts of hogs were 17% fewer than on last Monday aud were 55% smaller than on the comparable date in 1957. Trading was slow. Most of the receipts consisted of mixed weights and grades of barrows and gilts in the 195- to 240-lb. Wei~ range. The bulk of U. S. No. 2 and No. 3 Grades of 195- to 240-lb. barrows and gil sold at $22.50 to $23. Sheep offerings were 2~% smaller than last Monday and were the lowest number since mid-April. About 40% of the supplies were spring lambs. Good and Choice 70- to 90-lb. slaughter spring lambs cleared mostly at $21.50 to $22.50. Medium and Good 63- to 73-lb. spring feeder lambs were quoted at $19 to $20. J. Z. Rowe Agricultural Economist
@FedFRASER