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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS
Number 603
Wednesday, July 19, 19Sl
1 9 6 1
P L A N T E D
C 0 T T 0 N
A C R E A G E
UP
3 %
As of July 1, cotton plantings in the United States for the 1961 crop are
estimated at 16.6 million acres, according to the Statistical Reporting Service.
The acreage is 3% above that seeded in 19GO but is 18% below the 10-year (1950-59)
average.
The following table shows cotton acreage planted in 1961 for the states
of the Eleventh Federal Reserve District and comparable data for 1960 and the
1950-59 average.
COTTON ACREAGE PLANTED
Five Southwestern States
(In thousands of acres)
Area
1961
12.§Q
Average
1950-59
Arizona ••••••••••
Louisiana ••••.•••
New Mexico •••••••
Oklahoma •••••••••
Texas ••••.•••••••
402
585
205
525
216
L:-55
694
232
720
7,100
655
6,800
8 z 53l}
Five states ••••
9,012
8,630
10' 053
SOURCE:
U.
s.
L~3L}
938
Department of Agriculture.
I N S P E C T I 0 N R E G U L A T I 0 N S AMENDED
On July 14 the .!L.. s. Department of Agriculture announced that it has
amended the regulations governing poultry inspection in order to minimize water
absorption by processed poultry. The amendment, which will become effective August l,
1961, will give consumers added protection in buying federally inspected poultry by
reducing the maximum amount of ~ absorption permitted and by extending this £2£•
!!:Q1 to all ~ of poultry packaging.
The new amendment is scheduled for publication in the July 19, 1961, issue
of the Federal Re gister.
P 0 UL T R Y
N E W
E F F I C I E N C Y
A ND
P R 0 D UC T I 0 N
R E C 0 R D S
S E T
The Nation's farmers attained~ high marks in both efficiency of~
and ~ production dul'ing 1960, turning out 3i'o ~ products with 3% less ~
than in the preceding year, according to a recent USDA report. One farnTu1orker
provided food, fiber, and tobacco for more than 26 persons (including himself) at
home and abroad last year, or two mo r e than in i959 and 12 persons more than in 19L}9.
LIVESTOCK
Livestock marketings at f.2.El ~ during the ~ ended Thursday, July .!1,
were sharply~ those in the previous week's 3-day trading period but were below
year-earlier levels, according to the SRS. The cattle supply of an estimated 6,750
compared with 3,673 a week earlier and 14,250 a year ago. Trading on slaughter
steers and heifers was fairly active, and prices were steady to strong as compared
with the preceding week's close. Good and Choice 890- to 1,175-lb. slaughter steers
brought $22.25 to $22.50 per cwt., and Utility and Commercial cows cleared at $14 to
$15. Trading on stockers and feeders was fairiy active, and quotations on most classes
were strong to 50¢ higher. Good and Choice 500- to 700-lb. stocker steers sold at $21 .5
to $24.90.
~offerings totaled approximately 1,150, which is 183% more than in the
preceding week but 48% below the corresponding period of 1960. Killing calves sold at
prices which were weak to $1 lower than at the previous Thursday's close. Good slaugh•
ter calves brought $21.50 to $23, and quotations on Good and Choice stocker steer
calves ranged from $22 to $25.50.
Hog receipts are placed at 2,150, or more than double the supply in the
preceding week's 3-day trading period but one-fifth below a year ago. Closing quotations for barrows and gilts were generally steady with week-earlier levels. Thursday prices for u. s. No. 1 through No. 3 Grades of 195- to 255-lb. butchers were
$17.50 to $18.25.
Sheep and lamb supplies were an estimated 11,600, compared with 5,902 in
the previous week and 15,469 a year ago. Trading was active in most sessions, but
closing quotations were mainly 50¢ to $1 lower than a week earlier. The majority
of the Good and Choice 69- to 90-lb. slaughter spring lambs cleared at $15 to $17.
P 0 UL TRY
During the ~ ended Friday, July 14, commercial broiler markets opened
stronger in south Texas but weaker in east Texas, reports the State Department of
Agriculture. The south Texas market leveled off on Tuesday and remained steady
through the ci'ose. The east Texas ~arket continued to decline through Wednesday,
became steady on Thursday, and then closed weaker. Supplies in both areas were
fully adequate for a generally slow demand all week. Compared with a year earlier,
trading volumes were 8% greater in south Texas and 1% larger in east Texas. Closing guotations in south Texas were 12.5¢ per lb., and the weighted average price in
east Texas was 11.4¢. During the corresponding period in 1960, closing quotes were
13¢ in south Texas; the weighted average price in east Texas was 17.7¢.
On Monday, July 11, ·commercial° broiler markets were weaker in south Texas
but were a little stronger in~~· Prices were: South Texas, 12¢; and east
Texas, 11.3¢ to 11.9¢ (29% of the sales were at undetermined levels).
The Southwest Poultry Exchange at Center, Texas, offered 2l}0,900 broilers
on July lZ,. Of this supply, 172,700 cleared at 11.5¢ to 11.9¢ (farm producers absorbed all rejected birds), and 9,GOO brought 11,7¢ {buyers absorbed all rejects).
Area
BROILER. CHICK
PLACEMENTS
Week ended
July 8, 1961
Texas ••••••
Louisiana ••
2,606,000
539,000
22 states ••
39 258 000
Percent
Previous
week
()
-o
-6
....
-.)
from
Comparable
week 2 1960
chan~e
16
20
8
@FedFRASER