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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 642 Wed.nesd.ay, April 18, 1962 WINTER WHEAT Based on April 1 conditions, the i962 national winter wheat crop is indicated at 921 million bu., or 14% below the 1961 outturn but 5% above the:L'951-60 average. Accord.ing to the Statistical Reporting Service, the expected. yield. per seed.ed. acre of 23. 6 bu. compares with 24. 8 bu. in 1961 and. the 10-year average of 18.8 bu. Estimates as of December 1, 1961, placed. seedings for the 1962 winter wheat crop at one-tenth below those for the 1961 crop, mainly reflecting acreage diversion under the 1962 wheat program. The following table shows the indicated prod.uction of winter wheat in 1962 for the states of the Eleventh Fed.eral Reserve District and comparable data for 1961. WINTER WHEAT PRODUCTION Five Southwestern States (In thousands of bushels) Area 1962 Ind.icated. April l 1961 1,118 Average 1951-60 Arizona ••.•.••.•••••••. Louisiana .••.•••.••••.. New Mexico ••••••••••••• Oklahoma ••.••••••••..•• Texas .••••••••••••••••• 1,044 624 5,092 83,562 57z920 8' 00~110,832 8~-, 870 1,567 ~./750 1,917 75,225 38,874 Five states ••••••.••• 1L~8, 242 205,664 118,333 8~-0 1/ Short-time average. SOURCE: U. S. Department of Agriculture. U S D A D 0 M E S T I C F 0 0 D D 0 N A T I 0 N S DOUBLED Food donations to domestic outlets by the USDA d.uring the first half (JulyDecember 1961) of the current fiscal year totaled. nearly 970 million lbs.,-or-about double the amount distributed. in the ~ period. of the 1960-61 fiscal year. The number of needy persons participating in the program increased. from 4.1 million in January 1961 to 7 million in January 1962. Five new states, 449 new counties and cities, and four new Indian agencies were ad.d.ed to the program during this period. The following are the numbers of needy persons in family units who received USDA-donated. commod.ities in December 1961 in the states of theEleventh Fed.eral Reserve District: Arizona, 100,629; Louisiana, 129,434; New Mexico, 78,659; Oklahoma, 287,982; and. Texas, 183,754. 1 I VE S T 0 CK Adequate moisture and. good grazing conditions throughout the marketing territory resulted. in reduced cattle receipts at Fort Worth d.u ring the week end.ed. Thursd.ay, April 12, accord.ing to the Agricultural Marketing Service. The cattle run totaled. about 3, 100, compared. with 3., 800 a week earlier and. 6, 000 during the corresponding period. of 1961. Trading on slaughter cattle was fairly active, and prices were 25¢ to mostly 50¢ per cwt. higher than at the previous week's close. Good. 800- to 1,105-lb. slaughter steers brought $23.75 to $25.50 per cwt.,, and. Utility and Commercial cows sold at $14.50 to $17.50. Demand was good for all classes of feed.er cattle, and quotations were steady to $1 higher than a week earlier. Good and Choice 500- to 700-lb. feeder steers cleared at $23 to $26.50. At approximately 800, the calf supply was one-third larger than in the previous week but about the same as a year ago. Trading on slaughter calves was active, and prices were strong to 50¢ per cwt. higher than in the preceding week. Good. grad.es of killing calves sold at $24.25 to $25.75 per cwt., and 275- to 500lb. feed.er steer calves brought $23.50 to $28, Hog receipts totaled an estimated 1,800, reflecting decreases of 5% from the preced.ing week and 31% from a year earlier. Closing quotations for "barrows and gilts were steady to 25¢ per cwt. lower than on the previous Thursday, with the majority of the U. S. No. 1 through No. 3 Grad.es of 180- to 260-lb. "butchers quoted at $15.50 to $16. Sheep and lamb marketings advanced seasonally during the week ended. April 12. The supply was about one-fourth larger than a week ago and. slightly aoove the year-earlier total. Trading was generally active, and prices were steady to 50¢ per cwt. higher than at the previous week's close. The bulk of the Good and Choice 74- to 95-lb. slaughter spring lamas "brought $18 to $19.50 per cwt. POULTRY Commercial "broiler markets opened steady in south Texas and. stronger in east Texas during the week ended Friday, April 13, points out the State Department of Agriculture. Markets in both areas were fully steady throughout the trading period. and. closed. with a firm undertone. Supplies were adequate for the fair to good demand.. Closing prices were 14.5¢ per lb. in south Texas and 14.5¢ to 15¢ in east Texas. During the comparable week in 1961, closing quotes were 15¢ in south Texas, and the weighted average price in east Texas was 13.9¢. Commercial broiler markets were slightly stronger in south Texas and steady in east Texas on Monday, April 16. Quotations per lb. were: South Texas, 15¢, with a few on previous commitmentS-at 14.5¢; and east Texas, 14.4¢ to 15¢. BROILER CHICK PLACEMENTS Percent change from Previous Comparable week week, 1961 Area Week ended. April 7, 1962 Texas •••••• Louisiana •• 3,188,000 549,000 1 -5 -1 -4 22 states •• 43 182 000 0 -5
