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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 679 Wednesday, January 2, 1963 WINTER WHEAT Seedings for the 1963 winter wheat crop in the United States are estimated at 42 million acres, or 9% above plantings for the 1962 crop but 9% below the 10-year (1952-61) average, points out the Statistical Reporting Service. Based on conditions as of December 1, 1962, winter wheat production in 1963 is indicated. at 1,028 million bushels. A crop of this size would be 26% greater than the 1962 crop and 12% larger than average. The following table shows the acreage seeded for and indicated production of 1963-crop winter wheat for the states of the Eleventh Federal Reserve District and. comparable data for the crops of 1962 and 1952-61. WINTER WHEAT Five Southwestern States Area ACREAGE SEEDED (In thousands Of acres) Crop Crops Crop of of of 1962 1952-61 1963 PRODUCTION (In thousands of bushels) Crop Crop Crops of of of 19631/ 1962 1952-61 Arizona ...•••.•. Louisiana •.••••• New Mexico ..•••• Oklahoma •••••••. Texas •••••••...• 29 88 295 4,871 3,673 29 80 268 4,349 3,498 52 g/69 390 5,230 4,312 1,044 880 4,425 97,420 62,441 1,008 720 4,200 71,953 43,696 1,632 2/762 2,639 82,418 45 2 567 Five states •.• 8,956 8,224 10,053 166,210 121,577 133,018 1/ Indicated December 1, 1962. Short-time average. SOURCE: U. S. Department of Agriculture. 2/ CR0 P P R0 DUC T I 0 N E QUAL S 1 9 6 0 RE C0 RD All-time high per acre yields for many crops raised total production of U. S. crops in 1962 to the record 1960 level, despite the smallest acreage in recent times and serious drought conditions in sections of the East and South. According to the SRS, the all-crop production index, at 108% of the 1957-59 average, was the same as in 1960 but was up 1% over 1961. The national crop acreage was 3% smaller than in 1961, primarily as a result of farmers' participation in the Government's feed grain and wheat programs. Favorable growing weather in the central part of the United States in 1962 helped feed grains reach record per acre yields. Compared with the preceding year, decreases were reported for food grains, vegetables, and fruits and nuts; increases were shown for all other groups included in the crop production index. Output of both feed grains and food grains was lower than in 1960, but gains in all other groups of crops offset these declines. This publication was digitized and made available by the Federal Reserve Bank of Dallas’ Historical Library (FedHistory@dal.frb.org). L I VE S T 0 C K Fort Worth marketings of all classes of livestock during the 2-day trading period ended Thursday, December 27, 1962, were substantially red.uced from the L~-day trading period of the preceding week, according to the Agricultural Marketing Service. (The most recent marketing period. was shortened by the suspension of trading for a 2-day holiday period on Monday and Tuesday in observance of Christmas.) The cattle run totaled an estimated 1,100, compared with 3,700 in the previous week and 2,600 during the 3-day trading period a year ago. (The market was closed 1 day in observance of Christmas in 1961.) Trad.ing was fairly active for most slaughter cattle, and closing quotations for steers were steady to 25¢ per cwt. higher than on the preceding Thursday. Good 950- to 1,220-lb. slaughter steers sold at $25.50 to $26.75 per cwt., and Utility and Commercial cows brought $13.75 to $16.50. Closing prices for feeder cattle were mostly steady to strong, with Good 500- to 700-lb. steers quoted at $24 to $26. The calf supply of approximately 200 compared with 1,300 a week earlier and 400 a year ago. Good grades of killing calves cleared at $24 to $25.50 per cwt., and prices for 300- to 500-lb. feeder steer calves ranged from $26 to $28.60. A total of 550 hogs was received at Fort Worth during the 2-day trading period ended December 27,--r;f1ecting decreases of 65% from the preceding week and 31% from a year ago. Demand was good, and trading was active. Barrows and gilts sold at prices which were strong to 50¢ per cwt. higher than on the previous Thursday, with the majority of the U. S. No. 1 through No. 3 Grades of 200- to 250-lb. butchers quoted at $16.50 to $17 per cwt. Sheep and lamb offerings are placed at about 5,100, or 400 fewer than in the preceding week but 300 more than a year ago. Demand continued fairly broad for all classes, and trading was active. Prices for slaughter lambs and yearlings were steady to 50¢ per cwt. higher than in the previous week. Most of the Good and Choice 70- to 85-lb. wooled and shorn lambs with No. 1 and. No. 2 pelts sold at $17.50 to $18.50 per cwt. POULTRY Texas commercial broiler markets were generally weaker on Thursday of the 2-day trading period ended. Friday, December 28, 1962, reports the State Department of Agriculture. At Friday's close, the market in south Texas continued to weaken slightly, while that in east Texas had become steady; the undertone was unsettled in both areas. Supplies ranged from short to adequate in south Texas but were ample in east Texas. Closing quotations per lb. were: South Texas, 13.3¢ to 13.5¢; and east Texas, 12.8¢ to 13.3¢. During the corresponding period in 1961, the closing quote in south Texas was 15.5¢, and prices in east Texas ranged from 14.9¢ to 15.9¢. BROILER CHICK PLACEMENTS Percent increase over Previous Comparable week week, 1961 Area Week ended December 22, 1962 Texas •...•• Louisiana •• 2,476,000 481,000 2 2 17 22 states .. 35,969,000 3 8 8
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