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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 66L1- Wednesday, September 19, 1962 THE 1963 WHEAT OUTLOOK The U. S. wheat supply for the 1962-63 marketing season (which began July 1, 1962) is estimated. at 2,373 million bushels, compared with the record 2,679 million bushels in 1960-61 and 2,652 million bushels in 1961-62. The Economic Research Service says that exports may total about 620 million bushels, and domestic disappearance probably will be about 603 million bushels. Based on these figures, the carry-over at the end of the 1962-63 season is indicated at approximately 1,150 million bushels, or about 150 million bushels below a year earlier and the second consecutive reduction. With the return to a national acreage allotment of 55 million acres, the ERS estimates that 52.5 million acres of wheat will be harvested in 1963. Assuming a yield of 25.5 bushels per harvested acre, a crop of 1,3~-0 million bushels may be produced in 1963. Imports probably will total about 6 million bushels. With domestic disappearance placed at 595 million bushels and exports estimated at 625 million bushels, the carry-over at the end of the 1963-64 marketing season may be increased by around 125 million bushels. FESTIVAL USDA FILM The USDA will present a Centennial Film Festival in Washington, D. C., November 7-9, as a major event in observing its lOOth anniversary. The festival will be the first ever held in this country devoted exclusively to agricultural films. A total of 104 U. S. films has been entered in the following categories: Farming, crops, animals, engineering, food, the home, pests, resources, science, recreation, history, and marketing. The prod.ucers of the films represent a cross section of colleges and universities, industries, associations, and business firms. MEXICAN CATTLE EXPORT QUOTAS RAISED The Mexican Government has announced that cattle and beef export quotas for the 1963 marketing year (which began September 1, 1962) have been set a · the equivalerit()f 1.3 million1i'ead, points out the Foreign Agricultural Service. These quotas includeES42,000 live cattle, the carcass equivalent of 471,000 head of deboned and. carcass beef, and an export reserve of 204,000 head.. The reason for the increase in export quotas is the excellent recovery in Mexican cattle numbers since the footand-mouth disease epidemic in 1947. BRIDE FOR SMOKEY BEAR Goldie, an 18-month-old bear, recently arrived in Washington, D. C., to become the brid.e of Smokey, the 12-year-old forest fire prevention bear who has made his home at the National Zoological Park for a number-Gf years. Th'8State forestry agencies and the USDA decided there should be an heir to the Smokey name. According to the USDA, Smokey was orphaned by a forest fire in the Lincoln National Forest in 1950 and. was given by the school children of New Mexico to the school children of America as a living reminder of the dangers of forest fires. Foresters estimate that dramatizing the prevention of forest fires through Smokey campaigns saves about one-half billion dollars a year in property loss. L I VE S T 0 C K Receipts of all classes of livestock at Fort Worth during the week ended Thursday, September 13, were substantially above those in the preceding week's 3day trading period, reports the Agricultural Marketing Service. The cattle run of an estimated 5,900 compares with 4,400 a week earlier and 6,500 during the corresponding period of 1961. Slaughter steers sold at prices which were fully steady to 25¢ per cwt. higher than at the previous Thursday's close. Good and Choice 860- to 1,085lb. slaughter steers brought $24.50 to $26.50 per cwt., and the majority of the Utility and Commercial cows sold at $15 to $17.50. Demand for feeder cattle was fairly broad, and closing prices generally were fully steady to 50¢ higher than a week earlier, with Medium and Good 800- to 1,050-lb. feeder steers quoted at $22.50 to $23. 75. Calf offerings, at approximately 1,500, reflected gains of 88% over a week ago and 50% over the year-earlier total. Prices for slaughter calves were steady to 50¢ per cwt. higher than in the preceding week. The bulk of the mostly Good grades of killing calves cleared at $23.50 to $25.50 per cwt., and quotes for Good. and Choice feeder steer calves ranged from $24 to $29. Hog supplies are placed at 1,700, or 600 more than in the previous week and 500 above the comparable period last year. Closing prices for barrows and gilts were mainly steady, with the majority of the U. S. No. 1 through No. 3 Grades of 195- to 250-lb. butchers quoted at $19.50 to $20 per cwt. Sheep and lamb marketings totaled an estimated 6,400, compared with 3,800 in the preceding week and 4,600 a year ago. Prices for slaughter lambs and ewes were steady to 50¢ per cwt. higher than on the preceding Thursday, and quotations for other grades were mostly steady. Good and Choice shorn slaughter lambs with No. 1 and No. 2 pelts cleared. at $18 to $19 per cwt. POULTRY The major Texas commercial broiler markets opened slightly stronger in south Texas and about steady in east Texas during the week ended Friday, September l 4. According to the State Department of Agriculture, the east Texas market strengthened slightly on Wednesday. At Friday's close, markets in both areas were fully steady, with a firm undertone. Trading was light in south Texas and brisk in east Texas. The closing quotation in south Texas was 17¢ per lb., and prices in east Texas ranged from 16.8¢ to 17.2¢. During the comparable period in 1961, the closing quote in south Texas was 11¢, and the weighted average price in east Texas was l0.9¢. On Monday, September 17, commercial broiler markets were slightly stronger in south Texas and steady in-east Texas. Prices per lb. were: South Texas, 17¢ to 17.3¢, mostly 17.3¢; and east Texas, 16¢ to 16.9¢. BROILER CHICK PLACEMENTS Percent change from Comparable Previous week, 1961 week Area Week ended September 8, 1962 Texas •••••• Louisiana •. 1,877,000 397,000 -12 -6 -8 22 states •. 33,878,000 -2 6 -1
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