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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 556 Wednesday, August 24, 1960 1 9 6 1 W0 0 L A N D M0 H A I R P R I C E P R 0 GR AMS An incentive price of 62¢ per lb. for shorn wool and a mohair support price of 73¢ per lb. were announced by the U. s. Department of Agriculture on August 16 for the 1961 marketing year, which begins April !, 1961. The 1961 incentive price for wool is the~ as for the last£ years; the mohair support price is 3¢ ~lb. higher than during the previous 6 years. Payments to producers for shorn wool produced during the 1961 marketing year will follow the same methods in use during the current year. P E C A N P R 0 DUCT I 0 N u p 0 NE - F 0 URT H Texas pecan crop, as of August 1, is indicated at 40 million lbs., or one-fourth above the 1959 production, according to the Agricultural Marketing Service. Native pecans account for 85% of the total 1960 crop, and improved varieties make up the remainder • .§.21! moisture is adequate in most areas of Texas, and~ are making normal growth. There has been a scattered shedding of pecans throughout the State, but the drop has not been unusually heavy thus far. T E XAS ~year's T E XAS P I NE S E E DL I NG P R I CE S Pine seedling prices for the 1960-61 planting season (excluding windbreak species) have been announced by the Texas Forest Service. Loblolly pine, grown from seed collected in Bastrop and Fayette Counties, have some drought resistant qualities and are recommended for planting on dry sites. The price of these seedlings is $6.50 per thousand, f .o.b, the Indian Mound Nursery. ~pine, shortleaf pine, and loblolly pine from seed sources other than Bastrop and Fayette Counties will sell for $5.50 ~ thousand, f.o.b. either the Indian Mound Nursery or Magnolia Springs Nursery. The minimum order is 500 seedlings, and orders for less than 1,000 will cost 75¢ per hundred. According to the Texas Forest Service, production at the two nurseries is expected to be 22 million plantable seedlings. Application forms may be obtained at any of the following: Soil Conservation Districts, county agricultural agents, county ASC offices, district offices of the Texas Forest Service, or by writing the Director, Texas Forest Service, College Station, Texas. MARKET T 0 PREPARE H 0 W F 0 R W0 0 L Step-by-step instructions on how !£ prepare wool for market are given in a ~USDA publication, "Preparing Wool for Market - How to Increase Profits." Each step is illustrated with a photograph. Points covered are shearing, keeping wool clean and dry, tying fleeces attractively, and packaging wool properly. Single copies of the new publication may be obtained, without charge, from the Office of Information, Q. ~. Department of Agriculture, Washington 25, D, c. WHEAT P R I CE - S UP P 0 R T 1 9 6 0 AC T I V I T Y Farmers have placed 126.9 million bushels of 1960-crop wheat under pricesupport loans and purchase agreements as of July 31, reports the USDA. Kansas, Oklahoma, and ~ accounted for a large percentage of the total amount of wheat placed under price supports. The 1960 total of 126.9 million bushels compares with the July figures of 107.7 million bushels in 1959 and 106.9 million bushels in 1958. L I VE S T 0 CK Fort Worth cattle receipts during the week ended Thursday, August 18, totaled an estimated 10,900, compared with 10,600 in the preceding week and 7,900 a year ago, reports the AMS, Trading on slaughter animals was moderately active, and closing prices were generally steady. Good and Choice 835- to 1,215-lb. slaughter steers brought $22 to $25, and Utility and Commercial cows cleared at $13,50 to $15.50. Prices of stockers and feeders were fully steady to strong, with Medium and Good 500- to 700-lb. yearling stocker steers quoted at $17.50 to $22.50. Calf marketings of 1,600 were 200 less than in the previous week and 1,800 below the comparable date last year. Thursday prices were strong to 50¢ higher than a week earlier, with a few sales as much as $1 higher. Demand was heavy for Good and Choice grades, and most of the Goo d and Choice offerings were quoted at $19 to $21. Medium and Good 125- to 525-lb. stocker steer calves sold at $18 to $25. Hog offerings were approximately 2,500, or 9% more than a week ago but 11% below the corresponding period in 1959. Trading was active early in the week and prices advanced but during the latter part of the trading period, prices declined and were generally steady with week-earlier levels. Closing quotations for most mixed U. s. No. 1 through No. 3 Grades of barrows and gilts were $16.50 to $17. A total of 6,400 sheep and ~ was received at Fort Worth during the week ended August 18, compared with 7,100 in the preceding week and 3,900 a year ago. Demand was broad for the limited supply of slaughter lambs and yearlings, and prices were steady as compared with the previous week's close. Good and Choice slaughter spring lambs sold at $16.50 to $17. P 0 UL T R Y The two major Texas corrunercial broiler markets opened slightly weaker during the week ended Friday, August 19, points out the State Department of Agriculture. In east Texas, prices declined through Wednesday but became stronger by the close of the trading period, The south Texas market became steady by midtrading and held unchanged through the close. Friday quotations were 16¢ ' per lb. in south Texas and 15¢ to 15.8¢ in east Texas (23% of the sales were at undetermined levels). During the comparable week in 1959, closing prices were 16¢ in south Texas and 15¢ to 15.5¢ in east Texas. The Southwest Poultry Exchange offered 171,900 broilers on Friday, selling 104,700 at 15.6¢ to 15.7¢ (farm producers absorbed all rejected birds) and 44,800 at 14.9¢ to 15.2¢ (buyers absorbed all rejects). On Monday, August 22, Texas commercial broiler markets were steady. Quotations were 16¢ in south Texas and 14.9¢ to 15.7¢ in east Texas (including Friday's exchange sales), although 37% of the sales in the latter area were at undetermined prices. BROILER CHICK PLACEMENTS Percentage change from Previous Comparable week week, 1959 Area Week ended August 13, 1960 Texas •••••• Louisiana,, 1,876,000 343,000 -8 -5 -17 -19 22 states •• 31 , 693 000 -4 2 J. Z. Rowe Agricultural Economist
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