The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 689 Wednesday, March 13, 1963 S UP P 0 R T F 0 R E XT RA - L 0 NG S T AP L E C0 T T 0 N On March 6, the U. S. Department of Agriculture announced that the level of price support for 1963-crop extra-long staple cotton will average 53.17¢ per lb., net weight, which reflects approximately 70% of the February parity price. The support price for 1962-crop extra-long staple cotton also averaged 53.17¢ per lb. P R I CE SCREWWORM-FREE DAYS I N S 0 U T H WE S T The discovery of day-old. screwworms in a wounded calf on a ranch in Willacy County, Texas, on March 4 ended a 12-day screwworm-free period in the Southwest, reports the USDA. This is-the longest screwworm-free period recorded since the start of the program to eradicate the livestock pest more than a year ago. Screwworms attack open wounds on warm-blooded animals. The USDA urges livestock producers to check animals closely for wounds and to send samples of larvae removed from infested wounds to the Screwworm Eradication Headquarters, P. 0. Box 969, Mission, Texas. The samples will help guide eradication workers in their efforts to eliminate the outbreaks. 1 2 U. S. FARM PR 0 DU C TS T 0 BE FEATURED I N 1 0 ND 0 N The first USDA exhibit of 1963 in the London Trade Center will be held April 1-26 and will stress the quality and availability of American foods, feeds, and seeds. The exhibit - the fourth major U. 8. agricultural show at the London Trade Center since its establishment in 1961 - will be held by the U. S. Departments of Agriculture and Commerce. WORLD COTTON CROP REACHES NEW PEAK World cotton production in 1962-63 is currently estimated at 49.6 million bales, or L~% above the preceding season's output and 14% greater than the 1955-59 average. According to the USDA, 1962-63 marks the fifth successive season that world production has set a new record, with 80% of the increase taking place outside the United States. Most of the gain in the current world cotton crop results from somewhat larger outturns in India, Mexico, and Pakistan, which more than offset sizable reductions in Brazil, the U.S.S.R., and Egypt. 1 E S S W0 0 1 I N 1 9 6 2 U. S. shorn wool production in 1962 totaled 248.5 million lbs., grease basis, or 5% below the preceding year, according to the Statistical Reporting Service. The weight per fleece of 8.4 lbs. compares with 8.5 lbs. in 1961. The shorn wool average price received by the Nation's growers from April 1962 through January 1963 was 47¢ per lb.; in 1961 the average price was 43¢ per lb. The total value of shorn wool produced in 1962 was $115.6 million, representing a 3% increase over the 1961 value. Texas sheep produced 49.8 million lbs. of wool during 1962, or 5% below the previous year. The average fleece weight was 7."Slbs., compared with 8.1 lbs. in 1961. The average price received by Texas wool producers in the April 1962January 1963 period was 47¢ per lb., or 2¢ per lb. above 1961. The total value of the State's wool output is placed at $23.4 million, compared with $23.5 million in 1961. L I VE S T 0 C K Cattle receipts at Fort Worth during the week ended Thursday, March 7, totaled an estimated 4,200, which ISTittle changed from--aweek earlier but is-30°/o below a year ago, reports the Agricultural Marketing Service. Trading on slaughter steers was slow, and prices were lower each day through Wednesday, marking the s eveuth consecutive week of lower steer prices. Compa~ed with the previous week's close, slaughter steers sold at prices which were mostly 50¢ to 75¢ per cwt. lowe r. Good 815- to 1,215-lb. slaughter steers brought $21 to $23 per cwt., and Utility and Commercial cows cleared at $14 to $16.50. Quotations for feeder steers weighing up to 600 lbs. were steady to 50¢ per cwt. lower than on the preceding Thursday , and prices for heavier animals were 50¢ to $1 lower. Good 500- to 700-lb. feeder steers sold at $21 to $24.50. Calf offerings of approximately 1,000 were 100 more than a week ago but about the same as a year earlier. Prices for slaughter calves weighing under 500 lbs. were steady, while those for heavier animals were steady to 50¢ per cwt. lowe r. Good grades of killing calves brought $23 to $2i~ per cwt., and feeder steer calves weighing less than 500 lbs. cleared at $22.50 to $27. The hog supply is placed at about 1,250, compared with 1,400 in the preceding week and 1,800 during the corresponding period of 1962. Trading was rather uneven, and prices fluctuated. Closing quotations for barrows and gilts were fully 50¢ per cwt. lower than on the previous Thursday, with the bulk of the U. S. No. 1 through No. 3 Grades of 185- to 275-lb. butchers bringing $14 to $15 per cwt. Sheep and lamb marketings, at an estimated 6,800, reflected decreases of 26°/o from a week earlier and 42% from a year ago. Demand was fairly broad for the reduced supplies. Compared with the previous Thursday, closing prices for slaughter lambs and wooled ewes were fully steady to 50¢ per cwt. higher; quotations for all other classes showed little net change. Good and Choice 75- to 85-lb. slaughter spring lambs sold at $18.50 to $19.50 per cwt. POULTRY During the week ended Friday, March ~' the major Texas commerc i al broiler markets opened stronger and then continued to strengthen on Tuesday, reports the State Department of Agriculture. Markets in both south and east Texas became about steady on Wednesday; the east Texas market weakened slightly on Thursday. At Friday's close, markets in both areas were steady, with an unsettled undertone. Clos ing quotations in south Texas were 16.3¢ to 16.8¢ per lb., and those in east Texas were 15.2¢ to 15.9¢, mostly 15.5¢ to 15.8¢. During the corresponding period in 1962, the closing price in south Texas was 17.5¢, and quotations in east Texas ranged. from 16¢ to 17.3 ¢. On Monday, March 11, commercial broiler markets were weaker in south Texas and steady in east Texas. Prices per lb. were: South Texas, 16¢ to 16.5¢, mostly 16¢ to 16.2¢; and east Texas, 15¢ to 16¢. BROILER CHICK PLACEMENTS Percent decrease from Previous Comparable week week, 1962 Area Week ended March 2, 1963 Texas ••.•.. Louisiana •. 2,414,000 528,000 -9 -9 -3 22 states .. 38,207,000 -1 -5 -2