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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 674 Wednesday, November 28, 1962 GRA I N S UP P 0 RT P RI CE S A N N 0 U N CE D FEED Secretary of Agriculture Freeman recently announced details of the 1963 feed grain program, including feed grain support prices and payment rates for diverting acreages out of production into conservation uses. Farmers participating in the 1963 feed grain program will receive price supports partly through loans and purchase agreements and partly through payment-in-kind. The loans and purchase agreements will reflect a national average price of $1.02 per bu. for corn, $1.62 per cwt. for grain sorgh1Ums, and 79¢ per bu. for barley. In addition, price:Bupport payments will be made on the normal production of harvested acreage of the various crops at the following rates: 18¢ per bu. for corn, 29¢ per cwt. for grain sorghums, and 1~· ¢ per bu. for barley. RE 0 RGANI Z AT I 0 N 0 F A S CS A reorganization of the U. S. Department of Agriculture's Agricultural Stabilization and Conservation Service has been announced. by Secretary of Agriculture Freeman. The agency supervises major farm program administration in the field, including farm price-support operations:--The USDA says that, when completed, ~ change will (1) consolidate the present five operational groups within the ASCS into three; (2) create a new group of Program Policy staffs which will have broad responsibility for policy formulation; (3) consolidate the seven regional Commodity Offices into four; (4) combine the Internal Audit and Investigation Divisions into one, attached directly to the ASCS Administrator; and (5) assign all marketing agreement and ord.er programs - primarily those for milk and tobacco - to the Agricultural Marketing Service. STUDY REPORT F A RM ACC I DE NT S 0 N The number of farm-accident fatalities in the Nation is not decreasing in proportion to the decline in farm population, according to a recent USDA report. The study points out that one reason for the continuing high death rate in farm accidents is the increasing average age of people on farms. Another reason is that farms are isolated, with limited supervision of work and little opportunity for an injured person to obtain first aid. promptly. Moreover, traffic on rural highways is less controlled than on urban streets. The study shows that approximately one-third of the U. S. farm population is involved. annually in accidents resulting in nonfatal injuries. About 19% of farm people are injured seriously enough in these accidents to lose time from their work, and approximately 3% are permanently disabled each year. S H E E P AND LAMBS FEED 0 N Nearly 2.5 million head. of sheep and lambs were on feed for market in the seven ma,jor lamb-feeding states as of November ,;!:, or ~·% fewer than a year earlier, points out the Statistical Reporting Service. Decreases in the numbers of sheep and lambs on feed were shown for five of the seven states: Kansas, down 13%; Nebraska and. California, each 8% fewer; Iowa, down 6%; and Texas, 5%. South Dakota and Colorado reported increases of 5% and 3%, respectively. L I VE S T 0 C K During the 3-day trading period ended Wednesday, November 21, pre-Thanksgiving holiday receipts of all classes of livestock at Fort Worth were below the corresponding periods both a week earlier and a year ago, reports the Agricultural Marketing Service. The cattle supply totaled. an estimated 2, 900 head, compared with 5,200 in the previous week and 4,200 a year earlier. Standard grades of slaughter steers sold. at prices which were 50¢ per cwt. higher than at the preceding week's close (no other grades were available on which to test trends). Standard and Utility steers averaging 965 lbs. brought $23 per cwt., and Utility and. Commercial cows sold at $13.25 to $17. Prices for feeder cattle declined 50¢ to $1 on Monday and then held about steady the other daysj Good 500- to 700-lb. steers were quoted at $23.50 to $25.50. Calf offerings are placed at 1,000, which is 41% below a week ago but 11% above the year-earlier figure. Demand for slaughter calves was good, and prices held fully steady. Good grades of killing calves brought $23.50 to $25 per cwt., and prices for 250- to 500-lb. feeder steer calves ranged from $24 to $26.50. A total of 950 hogs was received at Fort Worth during the 3-day trading period ended November 21, reflecting decreases of 32% from a week ago and 14% from the comparable period last year. Trading was rather slow the first part of the week but became fairly active later. Prices for barrows and. gilts were steady to 25¢ per cwt. lower than at the ·p revious week's close, with U. S. No. 1 through No. 3 Grades of 190- to 260-lb. butchers quoted at $16.25 to $16.75 per cwt. Sheep and lamb marketings, at approximately 6,600, were 900 fewer than in the previo'U.S""Week an~500 below a year earlier. Demand continued broad for practically all offerings. Slaughter lambs sold at fully steady pricesj the bulk of the Good and Choice '7'3- to 97-lb. animals cleared at $17 to $17.50 per cwt. POULTRY During the week ended Friday, November 23, the major Texas commercial broiler markets opened weaker, points out the State Department of Agriculture. The east Texas market became steady on Tuesday, and markets in both south and east Texas were steady on Wednesday. At Friday's close, the market in south Texas was fully steady, while that in east Texas showed signs of strengthening. Closing quotations in south Texas were 13.5¢ to 13.7¢ per lb., and prices in east Texas ranged from 12.5¢ to 14¢. During the corresponding period in 1961, the closing quote in south Texas was 13¢; no report was issued for east Texas. Texas commercial broiler markets were stronger on Monday, November 26. Prices in south Texas were 14.4¢ to 14.5¢ per lb., and quotations in east Texas ranged from 13.5¢ to 16.6¢. BROILER CHICK PLACEMENTS Percent change from Comparable Previous week week, 1961 Area Week ended November 17, 1962 Texas .....• Louisiana •• 2,629,000 536,000 -L~ 46 6 ~L8 22 states •. 36,672,000 1 22
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