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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 651

Wednesday, June 20, 1962

F 0 R C0 T T 0 N
L 0 CA T I 0 N DI F F E RE NT I A L S
On June 14 the U. S. Department of Agriculture announced the location differentials that will apply to upland cotton under the price-support program for the
1962 crop. The loan rates for upland cotton will vary according to location. The
loan rate for the base quality_, Middling 1 11 cotton, gross weight, will vary from a
high of 33.51¢ per lb. in the mill area of the Carolinas to a low of 31.70¢ per lb.
in California and Arizona. These variations are based on a loan rate of 32.47¢ per
lb. for Middling 1 upland. cotton at average location, which was announced. by the
USDA on February 15.
As in the past, location differentials for each warehouse point will be
based on the freight rate to the mill area of the Carolinas, except in eastern
Tennessee, Virginia, North Carolina, South Carolina_, Georgia , Florida, and Alabama,
where a zone system will be in effect.
11

S 0 I L CONSERVATION
HOME
AT
The USDA has announced publication of a bulletin which is designed to inform city and suburban dwellers about their soil and water problems. The 32-page
booklet, Soil Conservation at Home, describes land use problems encountered by the
small tract owner and offerS-suggestions on how to solve these problems. In addition, the publication gives tips to suburban residents on handling soil and on the
proper planning of lawns and garden for controlling erosion, runoff water, and sedimentation. According to the Secretary of Agriculture, the bulletin marks the first
time that inf ormation on nonfarm soil and water conservation has been prepared specifically for urban residents.
Single copies of Soil Conservation at Home, Agricultural Information Bulletin 244, may be obtained from the Office of Information, U. S. Department of Agriculture, Washington 25, D. C.

I NCRE AS E D

0 N
DUSTING
FARMS
SPRAYING
AND
The Nation's farmers sprayed or dusted more than 92 million acres of cropland and other farmland for control of insects, diseases, weeds, and brush in 1958,
a ccording to a recent report of the USDA. An additional 3.7 million acres - mainly
of cotton - were treated for defoliation of crops before harvest.
The U. S. farm acreage treated for weed and brush control rose 77% from
1952 to 1958, and spraying and dusting for control of insects and diseases increased
28 percent. Aerial treatment accounted for more than one-fifth of the total acreage
to which chemicals were applied in 1958.

VETERANS
MILK
CONSUMPTION
UP
M ILITARY
AND
Under a special USDA program to stimulate expanded use of milk for troop
feeding, milk consumption by personnel in the U. S. Armed Forces and patients in
veterans hospitals increased over the standard ration by about 552 million pints in
1961. The USDA pays part of the cost of additional milk consumed under the program.
~~
The total consumption of fluid milk by personnel in the Army, Navy, Air
Force, Marines, Coast Guard, U. S. Merchant Marine Academy, and veterans hospitals
in 1961 was more than triple what it would have been if only standard ration purcha ses of fluid milk had been made.

L I VE S T 0 C K
Fort Worth supplies of all classes of livestock during the week ended
Thursday, June 14, were below both the preceding week and the corresponding period
in 1961, according to the Agricultural Marketing Service. Cattle receipts of an
estimated 5,200 were 200 fewer than a week ago and were less than one-half the yearearlier level. Prices for slaughter steers were steady to 50¢ per cwt. higher than
on the previous Thursday. Good 500- to 705-lb. slaughter steers sold at $23.25 to
$25.50 per cwt., and Utility and Commercial cows brought $14.25 to $17. Trading on
feeder cattle was active; prices held steady through midweek but were about steady
to 50¢ lower on Thursday. Good 500- to 700-lb. feeder steers cleared mainly at
$22 to $25.50.
Calf offerings are placed at 800, or about one-fifth below both a week ago
and a year earlier. Slaughter calves sold at prices which were steady to 50¢ per
cwt. higher than at the previous week's close. Good grades of killing calves were
quoted at $23.50 to $26.50 per cwt., and 250- to 500-lb. feeder steer calves brought
$23 to $27.50.
Hog receipts totaled about 1,500, compared with 1,900 in the previous
week and l~O during the corresponding period last year. Demand was fairly broad,
and closing prices for barrows and gilts showed a general upturn of 50¢ to $1 per
cwt. The bulk of the u.· S. No. 1 through No. 3 Grades of 195- to 265-lb. butchers
cleared at $16.25 to $17.
A total of 18,900 sheep and lambs was received at Fort Worth during the
week ended June 14, reflecting decreases of 12% from the preceding week and 3% from
a year ago. Trading was active, and prices for all weights and grades of slaughter
lambs advanced 50¢ to $1 per cwt. Good and Choice 65- to 90-lb. slaughter lambs
(which accounted for the major portion of the offerings) sold at $18 to $21.
POULTRY
Commercial broiler markets opened slightly weaker in south Texas and
steady in east Texas during the week ended Friday, June 15, points out the State
Department-c;r-Agriculture. The south Texas market became-steady on Tuesday and
remained steady throughout the week, while the east Texas market weakened slightly
toward the close. Closing quotations in south Texas were 13.5¢ per lb., and prices
in east Texas ranged from 12.3¢ to 13.1¢. During the comparable period in 1961,
closing quotes were 13.5¢ in south Texas, and the weighted average price in east
Texas was 13.4¢.
Broiler markets were slightly weaker in both areas on Monday, June 18.
Quotations were 13¢ per lb. in south Texas and 12.1¢ to 12.5¢ in east Texas=- ~

BRO ILER CHICK
PLACEMENTS

Percent chanB;e from
Comparable
Previous
week
week, 1961

Area

Week ended
June 9, 1962

Texas ••••.•
Louisiana .•

3,051,000
488,ooo

6
-6

2
-25

22 states •.

41,556,000

1

-1