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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 655

Wednesday, July 18, 1962

1962

PLANTED
COTTON
ACREAGE
DOWN
SLIGHTLY
Plantings for the 1962 cotton crop in the United States, as of July 1,
are estimated at 16.4 million acres, according to the Statistical Reporting Service. The acreage reflects decreases of 1% from a year ago and 17% from the 1951-60
average.
The table below shows cotton acreage planted in 1962 for the states of the
Eleventh Federal Reserve District and comparable data for 1961 and the 1951-60
average.
COTTON ACREAGE PLANTED
Five Southwestern States
(In thousands of acres)

1962

1961

Average
1951-60

Arizona .•••••••.•
Louisiana •••.•.••
New Mexico .••••••
Oklahoma •.•••••.•
Texas ••••••••••••

412
585
213
690
7,000

400
595
208
705
7,080

471
671
236
903
8,501

Five states ••••

8,900

8,988

10,782

Area

SOURCE:

U. S. Department of Agriculture.

SAWTIMBER
SALES
REACH
NEW
PEAK
Secretary of Agriculture Freeman recently announced that more National
Forest sawtimber was sold between April 1 and June 30 of this year than during any
previous 3-month period in history:--Bales of sawtimber and convertible products
totaled 4.6 billion bd. ft., or 60% above the volume sold in the corresponding
period in 1961 and 1:} billion bd. ft. more than the previous record of 3.3 billion
bd. ft. in 1960.

u. s.

DELEGATION
TO
ATTEND
POULTRY
CONGRESS
Representatives of the U. S. Department of Agriculture, land-grant institutions, and the U. s. poultry industry will participate in the 12th World's Poultry
Congress to be held in Sydney, Australia, August 10-18. Outstanding U. S. scientists
will present papers on poultry genetics and breeding, nutrition and physiology, disease and control, economics and marketing, husbandry, and many related subjects. In
addition, a USDA exhibit at the Congress will show the advantages of U. S. poultry
products and their availability for export over the world.

LIVESTOCK
Livestock receipts at Fort Worth during the week ~ Thursday, July 12,
were substantially larger than in the--previous week's 3-day trading period, points
out the Agricultural Marketing Service. The cattle run of an estimated 7,200 compared with 3,900 a week ago and 8,300 during the corresponding period in 1961.
Trading was retarded on Monday but was fairly active the other days. Closing
prices for slaughter steers were strong to mostly 25¢ to 50¢ per cwt. higher than
on the preceding Thursday. Good and mixed Good and Choice 860- to 1,145-lb. slaughter steers cleared at $23.50 to $25.50 per cwt., and Utility and Commercial cows
brought $14 to $16.50. Trading on feeder cattle was moderately active, and closing prices were strong to 50¢ higher than a week ago, with Good and Choice 500- to
700-lb. feeder steers quoted at $22.50 to $27.30.
The calf supply is placed at 1,300, or 600 more than a week earlier but
about the same--as-a year ago. Prices for slaughter calves were mainly 50¢ to $1
per cwt. lower than at the previous week's close. Good grades of killing calves
sold at $23 to $25 per cwt., and 250- to 500-lb. feeder steer calves brought $23.50
to $27.50.
Fort Worth hog supplies during the week ended July 12 totaled 1,900, or
800 above the week-earlier level but 300 fewer than in the corresponding period last
year. Trading generally was active, and Thursday prices for barrows and gilts were
steady to 25¢ per cwt. lower than a week ago, with the majority of the mixed U. S.
No. 1 through No. 3 Grades of 210- to 250-lb. butchers quoted at $18 to $18.50 per
cwt.
Sheep and lamb marketings, at an estimated 13,100, reflected gains of
41% over the preceding week and 5% over a year earlier. Demand was broad for
practically all classes, and closing prices generally were fully steady to strong
as compared with the preceding Thursday. Choice and Prime 75- to 90-lb. slaughter
spring lambs brought $29.50 to $21 per cwt.
POULTRY
During the week ended Friday, July 13, the major Texas commercial broiler
markets opened steady, according to the StateJS'epartment of Agriculture. Market
conditions in both south and east Texas were slightly improved at midweek. The
sou~h Texas market indicated definite strength, closing with a stronger undertone,
while the east Texas market closed with a firm undertone. Closing quotations per
lb. in south Texas were 14.5¢ to 15¢, mostly 14.5¢; those in east Texas ranged
from 15.1¢ to 16.9¢. During the corresponding period in 1961, closing quotes were
12.5¢ in south Texas, and the weighted average price in east Texas was 11.4¢.
On Monday, July 16, commercial broiler markets were stronger in south
Texas but were slightly weaker in east Texas. Quotations in south Texas were 15.5¢
per lb., and those in east Texas were 15¢ to 15.5¢.

BROILER CHICK
PLACEMENTS

A:rea

Week ended
July 7, 1962

Percent
Previous
week

Texas •.••••
Louisiana •.

2,663,000
!+62,000

1
-6

4
-14

22 states ••

38,423z000

-2

-3

from
Comparable
week, 196l

chan~e