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-1)11 .1. ,_A_G_R_I_c_u_L_T_U_R_A_L_N_E_w_s_o_F_T_H_E_W_E_E_K_ __ 1i - 1'1umber 616 FEDERAL RESERVE BANK OF DALLAS Wednesday, October 18, 1961 1 9 6 2 C 0 T T 0 N A C R E A G E A L L 0 T ME N T 3 P R 0 C L A I ME D On October 12, 1961, the U. S, Department of Agriculture announced a~ tional marketing quota of 15,714,000 ~(standard bales of 500 lbs, gross weight) and a national acreage allotment of 18,101,718 ~for the 12.§1 crop of upland cotton, The latter figure includes an allocation of 100,000 acres from the national acreage reserve to take care of minimum farm allotments. For the 1961 crop, the national acreage allotment totaled 18,458,l~2L.l acres, December 12, 1961, has been set as the date for the referendum on 1962 upland cotton marketing quotas. At least two-thirds of the upland cotton farmers voting must approve the quotas if they are to be in effect, The USDA has announced a national marketing guota of 102,800 ~ and a national acreage allotment of 100,293 ~ for the 1962 crop of extra-long staple cotton. The acreage allotment for the 1961 crop was 63,740 acres, The growers' referendum on quotas for extra-long staple cotton will also be held on December 12, WORLD FOOD FORUM TO INAUGURATE CEHTENNIAL Eminent national and international food and agricultural authorities will meet in Washington, Q, Q., on Nay 15-17, .!.2.§1, for a World ~ ~ inaugurating the Centennial observance of the USDA, according to a recent announcement by Secretary of Agriculture Freeman. On May 15, 1862, President Lincoln signed the enabling legislation which created the Department. In recognition of its 100 years of progress, President Kennedy issued a proclamation on August 26, 1961, designating 1962 as the United States Department of Agriculture Centennial year, As the opening Centennial ~' the World E.2.2.£ Forum has a fourfold purpose: (1) To recognize the pre-eminence of American agriculture and agricultural technology; (2) To provide an international exchange of views on current and emerging world problems by world authorities in the fields of agricultural techniques, economics, and sociology; (3) To advance the application of modern agricultural science in less-developed countries of the world; and (4) To signal the lOOth anniversary of the USDA, NE W H 0 US I NG 1 0 AN P R 0 G R AM I N E F F E CT The expanded rural housing program, authorized by the Housing Act of 1961, became effective on October 1.2., according to the USDA, Under the new law, owners of housing sites in rural areas and in small rural communities with not more than 2,500 population may be eligible for housing loans made by the Farmers Home Administration, Previously, these loans were available only to farmers, Housing loans are made for construction, repair, and remodeling of dwellings and essential farm buildings, The interest~ is 4% per year on the unpaid balance of the loan, Loans may be scheduled for repayment over periods .!:!.E. !2_ 33 years, Applications for rural housing loans should be made at the local county off ice of the FHA. L I VE S T 0 CK Cattle and .£.C!11. supplies at Fort Worth during the week ended Thursday, October g, were ~ those of a week earlier, mainly as a result of heavy rainfall over much of the marketing territory during the first 2 days of the trading period. According to the A8ricultural riarketing Service, cattle receipts were an estimated 6,900, reflecting declines of 18% from the preceding week and 50io from a year ago. Trading on slaughter steers and heifers was slow on 'Monday but was moderately active thereafter. Closing quotations on animals weighing over 700 lbs. were mostly steady, while those on lighter weights were mainly steady to weak. Good and Choice 930M to 1,375-lb. slaughter steers cleared at $23 to $24.25 per cwt., and Utility and Conunercial cows brought $14 to $17. Stocker and feeder steers and heifers sold at prices which ·were steady to 50¢ higher than on the previous Thurs• day, with Good and Choice 500- to 700-lb. stocker steers quoted at $21 to $25.50. The calf .!.lli1 totaled about l,OOO, which was 100 fewer than a week ago and 600 below the year-earlier figure. Closing prices for slaughter calves were steady to 25¢ lower than on the precedin.g Thursday's market. Good and Choice grades of killing calves brought $22.50 to $23.50, and 250- to 500-lb. stocker steer calves sold at $22.50 to $28.60. Hog offerings of about 1,300 compared with 1,600 in the previous week and 1,900 during the corresponding period last year. Thursday prices of oarrows and gilts were steady to 25¢ lower than a week earlier, with the majority of the mixed u. s. ifo. 1 through No. 3 Grades of 195- to 260-lb. butchers quoted at ¢17 to $17.SO. Sheep and lamb marketings are placed at 7,500, or about the same as in the preceding week but 47% more than a year ago. Prices of all slaughter classes held fully steady each day. The bulk of the week's supply of Good and Choice 75- to 105-lb. wooled lambs sold at $15.50 to $16. P 0 UL T RY During the ~ ended Fridav, October 13, the major ~ commercial broil.§£ markets opened slightly weaker and then improved on Tuesday. On Friday, the market in south Texas showed further strength, while that in ~ Texas continued about steady, according to the State Department of Agriculture. Closing guotes in south Texas were 11¢ per lb., and the weighted average price in east Texas was 10.4¢. During the comparable period in 1960, closing quotations were 16¢ in south Texas; the weighted average in east Texas was 16.6¢. On Monday, October 16, commercial broiler markets were steady in south Texas and stronger in east Texas. Quotations per lb. were: South Texas, 10.5¢ to 11¢, mostly 11¢; and east Texas, 11¢ to 12¢, with 46% of the sales at undetermined levels, The Southwest Poultry Exchange at Center, Texas, offered 133,L}QO broilers on October lo. Of this total, 130,700 cleared at 11¢ to 12¢ (farm producers absorbed all rejected birds). No offerings were reported under contracts by which buyers absorbed all rejects. BROILEP CHICK PLACEMENTS Percent change from Comparable Previous ·week 2 1960 week Area Week ended October 7z 1961 Texas •••••• Louisiana •• 1,666,000 394,000 -7 -2 1 14 000 -l~ 0 22 states •• 28 SL~G
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