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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 573 Wednesday, December 21, 1960 COTTON AND R I C E QU 0 T A S A P P R 0 V E D Marketing guotas for the 1961 crops of upland and extra-long staple cotton and rice were approved in three separate referendums held on December 13, 1960. Preliminary U. S. Department of Agriculture reports indicate that 96.6% of the cotton growers voting approved quotas for 1961-crop upland cotton and 89.7% approved quotas for extra-long staple cotton. Rice growers approved marketing quotas for the 1961 crop by a vote of 91.2%. Approval of at least two-thirds of the producers voting in each of the referendums is required for marketing quotas to be placed in effect. 1 9 6 l I N S WE D E N F 0 0 T - A N D - M0 U T H 0 U T B R E A K An outbreak of foot-and-mouth disease in Sweden has prompted the United States to place into effect several protective measures, reports the USDA. In order to prevent introduction of this destructive livestock disease, action has been taken prohibiting imports from Sweden of sheep, cattle, other domestic ruminants, and swine - the types of animals which are subject to foot-and-mouth disease. Importation of hay, ~' and certain animal by-products will be permitted only under stringent restrictions. Action has also been taken to stop imports of fresh, chilled, or frozen meat derived from any ruminants or swine. Meat imports from Sweden during the past year totaled approximately a half-million lbs. of fresh beef and veal. R E A B 0 R R 0 WE R S P U R C H A S E 2 % B0 NDS In a period of less than~ months, rural electric and telephone systems financed by the Rural Electrification Administration have purchased ~ than $10 million worth of a~ 2% Treasury Bond-REA Series. According to the USDA, this Series was developed by the REA and the Treasury at the request of REA-financed systems desiring to invest with the Government their cash funds not needed for immediate operating purposes. The bonds pay 2% interest - the same rate paid by borrowers on their REA loans. ~ NUMBER GE T E XT E NS I 0 N S E R V I CE A I D During 1960, a record number of farm and urban families, homemakers, and young people have received assistance from the Cooperative Extension Service of Land-Grant Colleges and Universities and the USDA. Over 13 million people took advantage of the agency's 11 out-of-school" educational program to help solve farm, home, and community problems, according to the USDA. This total represents an increase of about one million people over the preceding year. R E C 0 R D P 0 T AT 0 A C R E A G E - MA R K E T I N G G U I D E S L E A F L E T "Acreage-Marketing Guides - What They Mean to Potato Growers 11 is the title of a ~ leaflet issued by the ~. This publication explains the purposes of the acreage-marketing guide~ program for potatoes and tells how it affects growers. Free copies ot the publication, AMS-417, may be obtained from the Marketing Information Division, Agricultural Marketing Service, U. S. Department of Agriculture, Washington 25, D. C, L I VE S T 0 CK Snow and ice in the Panhandle and western Texas, together with near-flood conditions in eastern and south-central counties, resulted in reduced cattle and calf receipts at Fort Worth during the week ended Thursday, December 15. According to the Agricultural Marketing Service, the cattle~ of approximately 7,500 head was down 1% from a week ago but was 70% above the year-earlier level. Trading on most slaughter cattle was moderately active, and closing prices were fully steady to 50¢ per cwt. lower than in the previous week. Good and Choice 1,000- to 1,175lb. slaughter steers cleared at $25 to $25.50, and the bulk of the Utility and Commercial cows brought $15.50 to $19. Closing prices on stockers and feeders were steady, with most Medium and Good 405- to 700-lb. yearling stockers quoted at $22 to $25. Calf receipts totaled an estimated 1,600, or 300 below the week-earlier figure but 100 more than a year ago. Quotes on slaughter calves were generally 50¢ to $1 higher than in the preceding week. Good and Choice Grades of killing calves sold at $25.50 to $26.50, and 300- to 545-lb. stocker steer calves brought $26.10 to $27.90. The hog supply of 1,500 reflected declines of 6% from the preceding week and 12% under the corresponding period of 1959. Thursday prices were fully 50¢ lower than the first 3 days of the week. Closing quotations on mixed u. s. No. 1 through No. 3 Grades of 190- to 255-lb. barrows and gilts were $17 to $17.25. Sheep and lamb offerings are placed at 5,700, compared with 5,500 a week ago and 3,300 a year earlier. Slaughter lambs sold at prices which were steady to 25¢ lower than in the latter part of the previous week, with Good and Choice animals quoted at $16 to $16.50. P 0 UL T RY During the week ended Friday, December 16, prices in the ~ ~ .£.Q!!!mercial broiler markets opened as much as 1¢ per lb. higher, while those in south ~held steady, according to the State Department of Agriculture. On Tuesday, east Texas quotations declined almost 1¢ and continued to decrease slightly each day. By the market's close, east Texas prices were 1~¢ lower than at the opening, while south Texas quotes-remained steady. Friday prices were 16¢ in south Texas and 14~¢ to 15~¢ in east Texas, although 26% of the sales in the latter area were at undetermined levels. During the corresponding period in 1959, closing quotations were 16¢ to 18¢ in south Texas and 15¢ to 15~¢ in east Texas. The Southwest Poultry Exchange offered 125,700 broilers on Friday, of which 92,700 sold at 15¢ to 15.3¢ (farm producers absorbed all rejected birds) and 15,700 brought 14.9¢ to 15¢ (buyers absorbed all rejects). On Monday, December 19, commercial broiler markets were steady in south Texas and about steady in east Texas. The following prices were quoted: South Texas, 16¢; and east Texas, 14.9¢ to 15.3¢ (16% of the sales were at undetermined prices). Area BROILER CHICK PLACEMENTS Week ended December 10 2 1960 Percentage change from Previous Comparable week week, 1959 Texas •••••• Louisiana •• 1,945,000 422,000 0 51 12 43 22 states •. 30,794,000 1 6
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