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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 623

Wednesday, December 6, 1961

C A T T L E BR AND
I NS P E CT I 0 N S E RVI CE
Acting Secretary of Agriculture Murphy has announced the issuance of an
order authorizing the Texas and Southwestern Cattle Raisers Association to perform
a cattle brand inspection service. The brand inspection authorization, which will
become effective on January 1, 1962, limits the association to inspecting cattle
which are 1 month of age or older.
The new order allows the Texas and Southwestern Cattle Raisers Association to assess "a reasonable and nondiscriminating fee for the inspection of brands,
marks) and other identifying characteristics.n The authority applies to cattle originating in, or shipped from, Texas and marketed through any stockyard that is subject to the Packers and Stockyards Act, where the association registers as a market
agency.
E S T ABL I S HE D
BROILER
A D V I S 0 R Y COMMITTEE
Secretary of Agriculture Freeman recently approved requests from leaders
of the broiler industry to establish a National Broiler Advisory Committee to study
the broiler market situation. The Committee, which is composed of members selected
from all segments of the industry, was scheduled to meet in Washington, D. C,, on
December 4.
The National Broiler Advisory Committee will advise the Secretary on possible programs or legislation which it considers necessary in order to (1) manage
supplies, (2) stabilize markets, (3) insure equitable producer returns and (4) assure prices that are fair to consumers. According to the u. s. Department of Agriculture, the broiler industry is faced with overproduction problems and a consequent critical decline in prices received by producers.

R E S E AR CH
S I X US DA GRANT S
FOREIGN
F 0 R
The USDA has made six grants for research to foreign scientific institu~ in Finland, India, Israel, and Poland.
Two of the grants are for leather
studies, and the others are for research related to soybeans, wheat, forests, and
deciduous fruits. These grants were awarded under a program financed by foreign
currencies obtained from the sale abroad of u. s. agricultural commodities under
Public ~ 480.
NATIONAL
MEAT
P R0 DUC T I 0 N L ARGE R
Red ~ output in the United States during January-October 1961 totaled
22,747 million lbs., or 1% above the year-earlier level, according to the Statistical Reporting Service. The outturn of beef was up 4%, and that of lamb and mutton
was 9% greater. On the other hand, veal output declined 6%, and pork production was
2% smaller,
L E S S
WH E A T
U NDE R
P R I C E
S UP P 0 R T
The latest figures available show that 241.2 million bushels of 1961-crop
wheat had been placed under price-support loans and purchase agreements through
October, reports the USDA. This volume compares with 355.8 million bushels of 1960crop wheat under support a year ago and 262.6 million bushels of 1959-crop wheat
placed under price support through October of that year.

L I VE S T 0 CK
Receipts of all classes of livestock at Fort R2!!h during the week ended
Thursday, November 30, showed increases over the preceding week's 3-day supply (the
trading period was shortened because of the Thanksgiving holiday), reports the Agricultural Marketing Service. The cattle !E.!1 totaled an estimated 7,200, compared with
4,200 in the previous week and 9,200 a year ago. Trading on slaughter steers and
heifers was fairly active on Monday but was slow thereafter. Closing quotations were
mainly steady with those on the preceding Wednesday. Standard and low-Good 815- to
1,050-lb. slaughter steers sold at $23 to $23.50 per cwt., and Utility and Commercial cows brought $14.50 to $17.50. Trading on stockers and feeders was moderately
active, and prices were mostly steady. Good and Choice 500- to 720-lb. stocker and
feeder steers cleared at $22 to $27.
At approximately 1,300 head, .£e1i offerings were 44% larger than a week
ago but were 28% below the corresponding period in 1960. Closing prices for slaughter calves were steady to weak. Good killing calves were quoted at $23.50 to $25>
and prices for Good and Choice 275- to 500-lb. stocker steer calves ranged from $23
to $29.
A total of 1,300 hogs was received at Fort Worth during the week ended
November 30, or 200 more than a week earlier but 900 fewer than a year ago. Trading was mostly active, and Thursday quotations were strong to 50¢ higher than on
the previous Wednesday. The majority of the u. s. No. 1 through No. 3 Grades of
200- to 260-lb. barrows and gilts cleared at $16 to $16.50.
Sheep and lamb marketings were about 8,600, compared with 7,900 in the
3-day trading period of the preceding week and 10,600 during the comparable 4 days
last year. Trading was active, and prices generally were fully steady. Good and
Choice and a few Prime 79- to 102-lb. wooled and shorn slaughter lambs with No. 1
and No. 2 pelts sold at $15.50 to $16.
P 0 UL T R Y
During the week ended Friday, December l, the south ~ commercial
broiler market opened stronger, became firm on Tuesday, and closed with a strong
undertone, according to the State Department of Agriculture. Closing quotations
were 14¢ per lb. in south Texas, In east Texas, where market reports were resumed
on Wednesday, closing prices ranged from 13¢ to 16.4¢, with the heaviest volume
at 16.2¢ to 16.4¢. During the corresponding period in 1960, closing quotes were
16¢ in south Texas; the weighted average price in east Texas was 15.6¢.
On Monday, December ~' the south Texas commercial broiler market was
stronger pricewise, while the east Texas market was unsettled. Quotations were
16¢ in south Texas and 15¢ to 16¢ in east Texas.

BROILER CHICK
PLACE:MENTS

Percent change from
Previous
Comparable
week
week 2 1960

Area

Week ended
November 25 2 1961

Texas ••••••
Louisiana ••

1,811,000
357,000

1

1

-3

-1

22 states ••

30 094 000

0

1