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AGRICULTURAL NEWS 0 THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 579 Wednesday, February 1, 1961 S UR P L US F 0 0 D D0 NAT I 0 N S E X P A N D E D Secretary of Agriculture Orville L. Freeman has taken action to expand the variety of foods to be distributed to needy families in this country. On January 24 the U. S. Department of Agriculture announced purchase programs for canned pork and~' dried edible pea beans, and dried whole ~ solids. These programs will be carried out with Section~ funds, which are made available to the Secretary of Agriculture and provide authority for the distribution of foods to needy persons. The proposed purchases will add a significant amount of protein foods. These foods will supply the most essential nutritional element which is presently lacking in the diet of the approximately 3.5 million persons in 42 states who now receive flour, cornmeal, nonfat dried milk, rice, lard, and butter. Foods purchased under the ~ program will be available to states by late February or early March. P 0 T E N T I A L MARKET F 0 R P 0 U L T R Y MEAT During the first ~ months of 1960, exports of processed poultry meat to the six European Common Market countries were about one-fourth above the yearearlier level. These countries include Belgium, France, Germany, Italy, Luxemburg, and the Netherlands. However, according to the Foreign Agricultural Service, the prospective market in these countries is even ~ important to the Q. ~· poultry industry. Among the total population of 166 million in these six countries, per capita consumption of poultry meat products in the year ended June 30, 1959, was only 8.4 lbs., compared with about 34.0 pounds in the United States. The value of Q. ~· poultry products exported to the Common Market countries rose from $100,000 in 1954 to $20.9 million in 1959. £ VE R Y MI N UT E S 1 7 P L ANT CAUGHT P E S T During 1960, an inbound plant pest was stopped on an average of every minutes at Q. ~· ports of entry, points out the Agricultural Research Service. .!1. D 0 WN STOCKS R I CE Rough~ stocks in all storage positions in the United States as of January!, 1961, totaled 37.4 million bags, or 69% of the 1960 production, according to the Agricultural Marketing Service. These holdings were about 4% below the January 1 stocks last year. Milled rice stocks at the beginning of 1961 were an estimated 4.9 million bags, reflecting a 15% decline from a year ago. B0 LL WE E V I L H I B E R NAT I 0 N GRE AT E R According to the USDA, in certain states a substantially larger number of boll weevils entered hibernation in the fall of 1960 than a year earlier. As compared with the fall of 1959, the 1960 survey shows hibernation 42% higher in Louisiana, 183% greater in Mississippi; 104% to 209% larger in four sections of North ~ina and South Carolina, and 41% higher in Tennessee. L I VE S T 0 CK Inclement weather and resulting bad road conditions seriously curtailed Fort Worth livestock marketings during the week ended Thursday, January 26, reports the AMS. The cattle supply was an estimated 4,100, compared with 6,700 a week earlier and 5,900 during the corresponding period of 1960. Prices of slaughter steers and heifers showed little net change from the preceding week. Most Good 980- to 1,000-lb. slaughter steers brought $25 per cwt., and the bulk of the Utility and Commercial cows were quoted at $15 to $16.50. Although weather reports from the North were adverse, demand for stockers and feeders was generally broad except for fleshy animals that were unsuitable for grazing. Prices for most stockers and feeders were fully steady to 50¢ higher than in the previous week, with Medium and Good 535- to 795-lb. yearling stocker steers quoted at $20.90 to $23.50. Calf receipts of about 1,100 were 56% below both the week-earlier level and a year ago. Slaughter calves sold at prices which were steady to $1 higher than on the preceding Thursday's market. The majority of the Good and Choice killing calves cleared at $23 to $25, and Medium and Good 360- to 525-lb. stocker and feeder steer calves sold at $23.70 to $25.90. A total of 1,500 hogs was received at Fort Worth during the week ended January 26, or 500 fewer than in the preceding week and 1,000 below the yearearlier figure. Prices advanced somewhat as a result of the reduced receipts and in line with higher prices at Corn Belt markets. Mixed U. S. No. 1 through No. 3 Grades of 185- to 250-lb. butchers brought $17 to $17.75. Sheep and lamb offerings were an estimated 6,100, or 26% below a week ago and 19% less than a year earlier. Slaughter lambs and yearlings sold at prices which were strong to mostly 50¢ higher than the previous week's close. Good and Choice 83- to 105-lb. wooled and shorn slaughter lambs with No. 1 and fall-shorn pelts cleared at $16.50 to $17. P 0 ULT RY The major Texas commercial broiler markets opened steady during the week ended Friday, January ']J_, points out the State Department of Agriculture. Prices-were unchanged during the trading period, and the markets closed about steady. f!.!day quotations were 17¢ per lb. in south Texas and 14.2¢ to 16%¢ in east Texas, although 31% of the sales in the latter area were at undetermined levels. During the corresponding week in 1960, prices were 18¢ in south Texas and 17.7¢ in east Texas. The Southwest Poultry Exchange offered 100,200 broilers on Friday, of which 69,200 sold at 16.3¢ to 16.5¢ (farm producers absorbed all rejected birds} and 12,000 brought 15¢ to 15.6¢ (buyers absorbed all rejects). On Monday, January 30, commercial broiler markets were slightly weaker in south Texas and steady in east Texas. The following prices were quoted: South Texas, 16¢ to 16~¢; and east Texas, 15¢ to 16~¢ (37% of the sales were at undetermined quotes). BROILER CHICK PLACEMENTS Percentage chanBe from_ Previous Comparable week week, 1960 Area Week ended Januar~ 21, 1961 Texas •••••• Louisiana •• 2,149,000 464,000 0 7 2 15 22 states •• 33 2 323 2 000 -1 2
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