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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS 1 urnber 482 Wednesday, March 25, 1959 P R 0 S P E CT I VE P L ANT I NGS 1 9 5 9 F 0 R On the basis of March l planting intentions of farmers, the 1959 crop s eedings in the Nation are likely to be about 2% greater than the low levels of the past~ years but about 5% below plantings in the early 1950's, according tO-the u. S. Department of Agriculture. The total crop acreage is expected to be about 339 million acres, which is 5.1 million acres and 8.4 million acres above the levels in 1957 and 1958, respectively, but otherwise is the smallest acreage since comparable records were started in 1917. However, the acreage that is actually planted this year may be larger or smaller than the March 1 indications, depending upon weather conditions, price changes, labor supplies, financial conditions, changes in agricultural programs, and the effect of the prospective plantings report upon farmers 1 actions. The following table shows the percentage changes in acreages of selected s pring crops which farmers intend to plant in 1959 from the planted acreages in 1958 f or the states of the Eleventh Federal Reserve District and the Nation. PLANTINGS OF SELECTED SPRING CROPS Five Southwestern States and United States (Percentage changes, 1959 from 1958) All Area corn Arizona •••••••••••• 5 Louisiana •••••••••• ..3 20 .~ ew Mexico ••••••••• Oklahoma ••••••••••• -11 Texas •••••••••••••• -e Oats 0 13 -20 Barley 2 -23 -13 5 26 3 All sorghums All hay.!./ 9 2 3 -29 -6 -6 Peanuts Rice 11 -29 2 -6 -4 -3 -s 8 -2 Five states •••••• -8 -15 13 1 -3 -s 10 United States •••• 12 -6 5 .. 3 -3 -3 11 !/ Acreage harvested. SOURCE: U. S. Department of Agriculture. MI L L I 0 N A CR E S ADDE D T 0 C 0 T T 0 N A L L 0 T ME N T The national upland cotton acreage allotment for 1959 has been increased over a million ~ through selection of the alternate Choice (~) program by cotton producers, reports the USDA. The original allotment total for upland cotton i n the United States was 16.3 million acres. A total of 68,559 farm operators se lected the Choice (B) program by the deadline on March 16. I n the states of the Eleventh Federal Reserve District (Arizona, Louisi al New Mexico, Oklahoma, and Texas), 29,464 farm operators elected the Choice (B) uplan cotton program for their farms. The cotton allotments for southwestern farms are thereby increased from 8.7 million~ to 9.2 mi lli2_!! ~· POULTRY The Texas commercial broiler markets were mostly unchanged during the trading week ended Friday, March 20, points out the State Department of Agricult ure. Closing prices - which were the same as a week earlier - were: South Texas, 18¢ per lb., and east Texas, 16¢ to 17¢. (In the latter area, 57% of the sales were at undetermined price~During the corresponding period in 1958, closing prices we re 22¢ in south Texas and 21¢ in east Texas. On Monday, March 23, commercial broiler markets were quiet in south Texas and weaker in east Te~ Prices in both areas were unchanged from the preceding Friday's close, although 64% of the sales in east Texas were at undetermined pr i c es. BROILER CHICK PLACEMENTS Percentage change f rorn Previous Comparab le week week, 19 58 Area Week ended March 14, 1959 Texas •••• , , Louisiana., 2,419,000 575,000 -2 28 1 46 22 states,. 35,944,000 3 20 L I VE STOCK An estimated 2,000 cattle were received at I£!! Worth on Monday, March 23 states the Agricultural Marketing Service. The supply was 9% below the week-earl ier level and 31% less than on the corresponding date in 1958. Trading on slaughter steers was slow early in the day but was active later, and prices were strong. Trad· ing ou stocker and feeder cattle was moderately active, and prices were fully st ead with those in the latter part of the previous week, Good 800- to 1,100-lb. slaught r steers brought $26 to $27.25 per cwt.; Utility cows, $19 to $19.50; and Medium a nd Good 550- to 650-lb. stocker and feeder steers, $24 to $29. The calf ~ is placed at 600, or 100 more than on the preceding Monday and about double the year-earlier figure. Trading on slaughter calves was active, and prices were strong to 50¢ higher than in the latter part of the past week. Most Good slaughter calves cleared at $29 to $30, and Medium and Good stocker and fee der steer calves were quoted at $27 to $32. Monday's hog supply totaled approximately 900, which was 18% fewer than a week ago but 29% above the level on the comparable date last year. Trading was slow, with barrows and gilts selling at prices which were 10¢ to mostly 25¢ lower than in the latter part of the previous week. Mixed grades of 190- to 245-lb. slaughter hogs brought $16.50 to $16.75. Sheep and lamb receipts were less than 6,000, compared with 10,100 on t he preceding Monday and 10,500 a year earlier. Trading was fairly active. Prices o f old-crop slaughter lambs and slaughter spring lambs were steady to 50¢ higher than in the latter part of the past week, while those for feeder lambs were weak to lower. Good and Choice 90- to 107-lb. wooled and shorn slaughter lambs sold at $18 to $19. J. z. Rowe Agricultural Economist
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