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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 659

Wednesday) August 15, 1962

P R 0 S P E CT I VE
1 9 6 2
C0 T T 0 N CR 0 P
The 1962 cotton crop in the United States is indicated, as of August lJ
at 15.1 million bales) representing gains of 5% over the 1961 production and 8%
over the 10-year (1951-60) average) according to the Statistical Reporting Service. Compared with a year earlier, increased output is in prospect for every major
cotton-producing state except Arizona and New Mexico. The 1962 national cotton
acreage for harvest is placed at 15.7 million acres) or slightly above the acreage
harvested in 196lj the lint yield per harvested acre is estimated at 461 lbs., which
is 5% more than in the preceding year.
Prospective 1962 cotton production (and outturns for 1961) for the states
of the Eleventh Federal Reserve District are: Arizona, 820,000 bales (828,000);
Louisiana, 600,000 bales (479,000); New Mexico, 290,000 bales (300,000); and Texas,
4,800,000 bales (4,786,000).
US DA

A S S I S T S UPSTREAM WATERSHED
PROJECTS
Secretary of Agriculture Freeman recently authorized the Soil Conservation
Service to give technical and financial aid to five upstream watershed projects in
Florida, Iowa, Michigan, Ohio, and Texas. This action brought to 401 the number of
upstream watershed projects authorized to receive assistance from the United States
Department of Agriculture throughout the Nation. The projects are cooperative undertakings between local communities and the Federal Government under provisions of the
Watershed Protection and Flood Prevention Act. According to the Secretary, the 401
watershed projects now authorized to receive help from the USDA include 22.4 million
acres in 46 states. The five projects recently authorized will cost an estimated
~million, of which $3.7 million will be Federal cost and $2.9 million will be
local cost.
The Texas project authorized to receive assistance from the USDA is the
Kent Creek Watershed (27,008 acres) in Briscoe and Hall Counties. The major purPQSes--o:f"the project are watershed protection and flood prevention. The principal
items involved in this project ~ soil conservation practices on farin'S""and ranches,
eight grade stabilization structures, 9 miles of stream channel improvement; and
seven floodwater retarding dams with a total storage capacity of 2,404 acre-feet.
Approximately $451,000 of the $539)000 estimated cost of the project will be defrayed
by the Federal Government.
WOOL
PRODUCTION,
1962
Shorn wool production in the United States for 1962 is estimated at 248.8
mi llion lbs. (grease basis), according to the SRS. An output of this size would be
5% below the 1961 outturn but 3% above the 10-year (1951-60) average.
In Texas, the leading sheep-producing state, the 1962 wool clip is expected to total 4f:"'biliillion lbs., which is 9% under the 1961 figure but 4% larger than
the 10-year average. A reduction in the estimated number of sheep shorn and a decrease in the average fleece weight account for the smaller 1962 wool production
in the State.
FIRST
VALIDATED
BRUCELLOSIS-FREE AREA
The Nation's~ brucellosis eradication program has just taken two long
strides forward, announces the USDA and the Georgia Department of Agriculture. Dooly

County, Georgia, has been established as the first Validated Brucellosis-Free Area,
and the Burton-Coody registered swine operation of Vienna, Georgia, has been designated as the first validated herd in a brucellosis-free area.
LIVESTOCK
The Fort Worth cattle run during the week ended Thursday, August 9, totaled an estimate~300 head, compared with 4,600--:i:Tlthe preceding week and 8~300 during the corresponding period of 1961, reports the Agricultural Marketing Service.
Trading on slaughter cattle was generally slow on Monday but was moderately active
thereafter. Prices for slaughter steers were mainly steady to 25¢ per cwt. lower
than on the previous Thursday. Good 8L~O- to 880-lb. slaughter steers brought $24
to $25.50 per cwt., and Utility and Commercial cows sold at $13.50 to $16.25. Trading on feeder steers was moderately active each session, and quotations were mostly
steady; Good 500- to 700-lb. animals brought $23 to $26.
The calf supply of approximately 700 reflected decreases of 22% from a
week earlier andb3% from a year ago. Slaughter calves sold at prices which were
steady to 50¢ per cwt. lower than at the previous week's close. Good grades of
killing calves cleared mainly at $23.50 to $25.50 per cwt., and feeder steer calves
brought $23.50 to $28.
A total of 1,600 hogs was received at Fort Worth during the week ended
August 9, or 200 more than a-week ago but 100 fewer than a year earlier. Demand
was broad each day, and closing prices were strong to 25¢ per cwt. higher than on
the previous Thursday's market. The majority of the U. S. No. 1 through No. 3
Grades of 185- to 250-lb. barrows and gilts brought $18.50 to $19.25 per cwt.
Sheep and lamb offerings, at an estimated 10,700, were 35% larger than
in the preceding-wBek°"ai1d 39% above a year ago. Trading was active, and closing
quotations generally were fully steady. The bulk of the Good and Choice 64- to
112-lb. wooled slaughter spring lambs cleared at $17 to $20 per cwt.
POULTRY
During the week ended Friday, August 10, the principal Texas commercial
broiler markets opened steady in south Texas and slightly stronger in east Texas,
reports the State Department of Agriculture. The market remained steady throughout the week in south Texas but continued to strengthen in east Texas. Closing
prices in south Texas were 15.5¢ per lb. and ranged from 15¢ to 15.7¢ in east Texas.
During the comparable period last year, prices were 14¢ per lb. in south Texas, and
the weighted average price in east Texas was 13.2¢.
On Monday, August 13, the broiler market was fully steady in south Texas
and steady in east Texas. Prices were 15.5¢ per lb. in south Texas and 15.1¢ to
15.7¢ in east Texas.

BROILER CHICK
PLACEMENTS

Percent decrease from
Comparable
Previous
week, 1961
week

Area

Week ended
August 4, 1962

Texas .•...•
Louisiana ••

2,499,000
446,ooo

-4

-3

-1
-9

22 states .•

36,585,000

-1

-2