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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS
Number 572
Wednesday, December 14, 1960
- - - h i ' - __ ,
'960, the ,C.6
~<lit Coro tion's investment in
price-support ro r s totaled $9,12~ ' mi lio~{ ac ordin
the USDA. The cost
/
value of inventories accounted for §.3% o~t
to
vestment, and loans outstanding comprised the remainder. On the~~,~~~p\nding.date last year, the CCC's investment amounted to $9,226 million, of w ctl / i~ventories accounted for 84% and loans
outstanding were 16%.
Price supports extended (tot
loans plus direct purchases and purchase
agreements) on 1960 crops alone through October 31 this year totaled $1,438 million,
compared with $1,339 million on 1959 crops through the corresponding date last year.
L I VE S T 0 CK
The cattle ~ at !.£E! Worth during the week ended Thursday, December ~'
totaled an estimated 7,500 head, compared with 9,100 a week ago and 6,100 during
the corresponding period of 1959. According to the Agricultural Marketing Service,
prices for slaughter steers, cows, and calves advanced for the third consecutive
week. Mixed Good and Choice 975- to 1,205-lb. slaughter steers sold at $25.50 to
$26 per cwt., and Utility and Commercial cows brought $15.50 to $18. Trading on
stockers and feeders was fairly active, and closing prices were steady to $2 lower
than in the previous week. Quotations for Good and Choice 500- to 700-lb. yearling
stocker steers ranged from $22 to $27.
Calf offerings of about 2,000 were up 11% over the previous week but were
5% below the year-earlier level. Good and Choice Grades of slaughter calves cleared
at $23 to $26, and 265- to 490-lb. stocker steer calves were quoted at $24 to $29.50.
Fort Worth hog marketings were approximately 1,700, or 500 fewer than a
week ago and 1,100 below the year-earlier figure. Barrows and gilts closed at prices
which were steady to 25¢ lower than on the preceding Thursday's market. Mixed U. S.
No. 1 through No. 3 Grades of 190- to 260-lb. butchers brought $17.75 to $18.25.
Sheep and lamb receipts are placed at 5,800, reflecting decreases of 45%
from the preceding week and 25% under a year ago. Despite the reduced supplies,
trading on slaughter lambs and yearlings was relatively slow, and prices were weak
to mostly 50¢ lower than in the latter part of the previous week. Choice 80- to
97-lb. wooled and shorn slaughter lambs sold mainly at $16 to $16.50.
P 0 ULT R Y
Prices in the major Texas commercial broiler markets opened steady during the week ended Friday, December~' reports the State Department of Agriculture.
The market held steady in south ~' while that in ~ Texas advanced steadily
and closed stronger. Although supplies were mostly below year-earlier levels,
there were enough broilers to meet the limited demand. Friday quotations were 16¢
per lb. in south Texas and 15.3¢ to 16.9¢ in east Texas (25% of the sales in the
latter area were at undetermined prices).
Friday offerings at the Southwest Poultry Exchange totaled 46,100 broilers, of which 27,800 brought 17.1¢ to 17.6¢ (farm producers absorbed all rejected
birds) and 12,300 sold at 15~¢ to 15.7¢ (buyers absorbed all rejects).
On Monday, December 12, broiler markets were steady in south Texas, while
prices were up slightly in east Texas. Quotes were 16¢ in south Texas and 15~¢ to
17.6¢ in east Texas, although 34% of the sales in the latter area were at undetermined levels.
BROILER CHICK
PLACEMENTS
Percentage change from
Comparable
Previous
week
week, 1959
Area
Week ended
December 3, 1960
Texas ••••••
Louisiana ••
1,947,000
280,000
13
-23
10
-24
22 states • •
30,546 2 000
3
6
@FedFRASER