View original document

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 OF DALLAS

umber

~

*

~

oJ

*
-J·
*
*

l~92

Wednesday, June 3, 1959

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *-/(
LOOK
TO
THE
MILKY
WAY
This t heme highlights the U. s. Department of Agriculture's support of
June Dairy Month. The Secretary of Agriculture has focused attention on June
Dairy Month by commending the American dairy industry for its farsighted ~chandising program. He points out that "the dairy industry was among the
first of the food industries to recognize the need for broad and intensive
merchandising and promotion of agricultural products. June Dairy Month spearheads an aggressive well-rounded promotion campaign to aid distribution of
milk and milk products • 11

' * * * * ******************************** * **

*
*

*
*
*
*
*
*
*/(

*

**

E R 0 S I 0 N CONDITIONS
I N GREAT
P L A I NS
Reports from 280 counties in the Great Plains show that, as of May!, a
to tal of approximately 2.7 million~ of land had been damaged by wind, according to the USDA. The figure is nearly 900,000 acres more than on April 1 and compares with 3.4 million acres damaged on May 1 last year. More than 90% of the land
reported damaged this season was cropland, primarily in Texas, Montana, and North
Dakota.
W IND

AGR I CUL T UR AL P R I CE S
The index of prices received by Q. ~· farmers ~ slightly during the
mon th ended May 15 to 245% of the 1910-14 average, reports the Agricultural Marketing Service. Sharply higher prices for potatoes, coupled with higher prices for
oranges, new-crop cantaloupes and watermelons, and for cattle were primarily respons ible for the advance. Partially offsetting the rise were seasonally lower prices
fo r milk and sharply lower prices for eggs, tomatoes, and onions. The index was
approximately 4% below the year-earlier level.
The parity index (which reflects prices paid for commodities and services,
plus interest, taxes, and wage rates) at 299 on May 15 was unchanged from the record
high of the preceding ~· A fractional decline in the production goods component
was offset by a like increase in the family living portion. The index was about 1%
h i gher than in May 1958.
The parity ratio remained at 82 - down 6% from a year ago.
SOIL
CONSERVATION
COMMEMORATIVE
STAMP
The USDA recently announced that a 4-cent postage stamp saluting progress
in soil conservation in this country will be issued August 26 by the Post Office
Department . The Nation's first soil conservation stamp portrays a modern farmland
set ting signifying that conservation farming brings beauty as well as bounty to
ru ral living . USDA officials state that the "issuance of the stamp is a tribute
to farmers and r anchers, their local soil conservation districts and to the professional conservat ionists and other agricultural workers who have helped make the
Uni ted States a world leader in soil conservation. 11

P 0 UL T RY
According to the Texas Department of Agriculture, prices in the State's
commercial broiler markets held unchanged throughout the trading week ended Friday,
May 29. However, market conditions became slightly uncertain at the close, follo,
iug declines in other broiler-producing states. Closing prices were 16¢ per lb. i
south Texas and 15¢ in east Texas, although 57% of the sales in the latter area were
at undetermined prices. During the corresponding period in 1958, closing prices
were: South Texas, 21¢, and east Texas, 20~¢ to 21¢, mostly 21¢.
On Monday, June !, commercial broiler markets were barely steady in south
Texas and unchanged in east Texas. Prices in both areas were the same as the previous Friday's close; however, 53% of the sales in east Texas were at undetermined
pr ices.
1-

BROILER CHICK
PLACEMENTS

Area

Week ended
May 23, 1959

Percentage change from
Previous
Comparable
week
week, 1958

Texas ••••••
Louisiana ••

2,097,000
394,000

4

-30

-1

-19

22 states •.

33 828 000

-1

-7

L I VE S T 0 C K
The cattle ~ at Fort Worth during the week ended Thursday, May 28, totaled 7,400 head, reflecting declines of 6% from the preceding week and 20% from the
corresponding period in 1958, reports the AMS. Trading on slaughter steers and
heifers was uneven, and prices were mostly steady with those in the latter part of
the previous week. Trading on most stockers and feeders was active, and prices generally were fully steady, Good and a few Choice 750- to 1,150-lb. slaughter steers
were quoted at $28 to $29 per cwt.; most Commercial cows, $19 to $19.50; and Medium
and Good 550- to 650-lb. stocker and feeder steers, $24 to $30.
Calf receipts are placed at 2,200, or 500 more than both a week earlier
and a year ago. Trading on slaughter calves was active the fore part of the week
but was slow the last 2 days. Prices of Good and Choice grades were steady, while
those for other grades were uneven. Good and Choice grades of killing calves brough
$28 to $30, and stocker and feeder steer calves sold at $30 to $36.SO.
The 3,200 hog supply compared with 3,000 in the previous week and 2,500 a
year earlier. Prices of barrows and gilts were about steady with those in the latter part of the preceding week. Most mixed U. s. No. 1 through No. 3 Grades of
slaughter hogs cleared at $16.25 to $16.75.
Sheep and lamb marketings were an estimated 37,700, which was 2,100 below
the week-earlier level and 800 fewer than a year ago. Trading was very uneven, with
demand narrow for all slaughter classes except spring lambs. Prices ranged from
$1 higher to $3 lower than in the preceding week. Most Good and Choice 70- to
90-1 b. slaughter spring lambs sold at $22 to $2L~.
J. z. Rowe
Agricultural Economist