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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS i~umber 526 Wednesday, January 27, 1960 L I VE S T 0 C K 0 N F E E D An estimated 7,198,000 head of cattle and calves were on feed for market in 26 feeding states January l, announced the u.--S: Department o~Agriculture. This number was a record high and an increase of 9% over the 6,627,000 head on feed in these states on the comparable date in 1959. Cattle feeders in the 26 states report that they expect to market about half of the cattle in January, February, and March. An additional 366,000 head of cattle and calves were on feed in .!l southeastern states on January 1. This is the first time number-on-feed data have been available for these states. In the District states, numbers of cattle on feed totaled 649,000, or moderately larger than a year ago. On January 1, the number of sheep and lambs on feed in the Nation was 7% less than a year earlier. The number is estimated at 4,140,000 head, which is 308,000 head less than a year ago. Sheep and lambs on feed in the four major feeding states of the District are as follows: Arizona, 103,000; New Mexico, 73,000; Oklahoma, 71,000; and Texas, 96,000. S MA L L E R T U R K E Y C R 0 P I N P R 0 S P E C T Turkey growers in Texas intend to raise 5% fewer turkeys in 1960 than in 1959, reports the Agricultural Marketing Service. Approximately 3,050,000 heavybreed birds will be raised - about the same number as a year earlier; light-breed produc~is expected to total only 479,000, or about 29% less than a year ago. The number of turkeys actually raised in 1960 may vary from January 1 intentions depending upon the growers' combined appraisal of the outlook as the season progresses. In 1959, growers raised 6% fewer turkeys than intentions indicated on January 1. Nationally, turkey growers intend to produce 6% ~turkeys this year. An increase of 12% is planned for heavy breeds with heavy whites up 21% and other heavy breeds up 8%. Present plans are to reduce production of light breeds by 18%. If growers carry out their intentions, about .§1. million turkeys will be raised compared with 82 million the previous year. BORERS DE CL I NE I N 1 9 5 9 C 0 RN In the fall of 1959, the number of European .£-2.E!! borers was slightly~ than in the previous year, according to the USDA. Spread of the borer was comparatively limited during 1959, but the insect~ found in Texas for the first time, although in only ~ county. Spring weather conditions and cultural practices used by farmers largely determine how many borers survive the winter. 0 U T P U T 1 9 5 9 W0 R L D W 0 0 L World wool output in 1959, which includes the 1959-60 season in the Southern Hemisphere, is currently estimated at a record 5,545 million pounds, grease basis, or 4% above the revised estimate for 1958 and 22% ~ than the 1951-55 average, reports the USDA. Except for 1959, when drought occurred in Australia and South Africa, world wool output has risen every year since 1947. Most of the gain in 1959 was due to continued increases in Australia, New Zealand, and the Soviet Union, and a strong upturn in U. S. output. Production in South America declined slightly as a result of poor growi~g conditions; however, the Argentine clip is expected to be up slightly. L I VE S T 0 CK The cattle run at Fort Worth during the week ended Thursday, January 21, was an estimated 4,600 head which is 32% less than the preceding week and 10% less than a year ago, reports the AMS. Inclement weather was an influence in curtailing cattle and calf shipments this week. Demand about equaled the supply of steers, and prices ranged from steady to 50¢ higher than a week ago. Most of the Good and Choice 915- to 1,240-lb. slaughter steers were quoted at $22.50 to $25.25, and the bulk of the Utility and Commercial cows cleared at $16.50 to $18.00. Trading on stockers and feeders was fairly active, and demand was broad for all classes. Quotations were fully steady to strong, and some quotations were 50¢ higher than the week-earlier level. Medium and Good 700- to 840-lb. stocker and feeder steers sold at $22.50 to $23.75. Calf marketings of approximately 1,900 were 100 more than a week ago and 800 more than the comparable date in 1959. Demand was fairly broad on slaughter calves weighing under 500 lbs., and prices were 50¢ to $1.00 higher than in the previous week - with quotations on some calves ranging from $23 to $24. Good and Choice 350- to 450-lb. stocker steer calves were quoted at $27.50 to $28.50. A total of 2,500 hogs was received at Fort Worth during the week ended January 21, reflecting declines of 26% from the preceding week and 4% from the corresponding 1959 period. Thursday prices for barrows and gilts were 25¢ to 50¢ higher than a week ago. Mixed u. S. No. 1 through No. 3 Grades of 190- to 245-lb. butchers cleared at $12.75 to $13.25. Sheep and lamb supplies are placed at 7,900, compared with 8,500 in the previous week and 10,600 a year earlier. Trading on slaughter lambs was fairly active, with prices 50¢ to 75¢ higher than in the latter part of the past week. Good and Choice 90- to 103-lb. wooled and shorn lambs with No. 1 and fall shorn pelts sold at $18. P 0 UL T R Y During the week ended Friday, January 22, the ~major Texas commercial broiler markets opened steady to fully steady, points out the State Department of Agriculture. The ~ Texas market was stronger by midtrading, while the east Texas market held about steady. Both markets reported a generally steady undertone. Fr~y quotations for broilers were: South Texas, 18¢ per lb., and~ Texas, 17¢ per lb. (In the latter area, 49% of the sales were at undetermined levels.) Closing prices were 18¢ per lb. in both areas during the comparable 1959 period. The Southwest Poultry Exchange offered 83,400 broilers on Friday. A total of 64,400 head was sold as follows: 20%, at 17.3¢ to 17.4¢; 52%, at 17.5¢; and 28%, at 17.6¢ to 17.7¢. The south Texas broiler market was steady on Monday, January 25, and east Texas offerings and supplies were balanced with needs. Prices in both areas were unchanged from the preceding Friday's close, although 46% of the sales in east Texas were at undetermined levels. Area BROILER CHICK PLACEMENTS Week ended January 16, 1960 Percentage change from Comparable Previous week week, 1959 Texas •••••••• Louisiana •••• 2,133,000 428,000 4 1 0 22 states •••• 32 303,000 0 9 J. z. Rowe Agricultural Economist 3
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