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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 691

Wednesday, March 27, 1963

P R 0 S P E C T I V E PLANTINGS
FOR
1963
Seedings of 1963 crops in the United States, based on March 1 planting intentions of farmers, are indicated to be the second smallest of recora~ or 2% more
than last year's all-time low, points out the Statistical Reporting Service. The
acreage of the 17 crops in the March survey usually accounts for around 85% of the
all-crops total. The survey was made during the signup period for the 1963 feed
grain and wheat programs, and planting intentions for corn, sorghums, spring barley,
and spring wheat may be altered later by growers' decisions concerning participation
in these programs. The acreage of feed grains is expected to be 2% above 1962, and
that of food grains is indicated to be up 6%. A reduction in the acreage of cotton
is expected to more than offset an increase in that for soybeans, which would result
in a net decrease of less than 1% in the acreage of oilseeds.
The following table shows the percentage changes in acreages of selected
spring crops which farmers intend to plant in 1963 from the planted acreages in 1962
for the states of the Eleventh Federal Reserve District and the Nation.
PLANTINGS OF SELECTED SPRING CROPS
Five Southwestern States and United States
(Percent changes, 1963 from 1962)
All
sorghums

All
hay

14

4
15

-10
3

9
-21
1

-7

5

-3

8

5
3

0

5

1

-2
0

0

-10

-4

0

5

1

-1

0

6

-5

-5

6

-1

-1

0

Area

Cotton

All
corn

Arizona ..•••.••••
Louisiana ••.•..••
New Mexico •••.•••
Oklahoma •.•••••••
Texas .....•.••...

-4
-10
-5
-8
-10

-3
2
7
-16
-12

Five states ..•.

-9

United States •.

-9

SOURCE:

u.

Oats

Barley

0

-5

Peanuts

Rice
0

-33

S. Department of Agriculture.

NUMBER
OF
TEXAS
FARMS
CONTINUES
DOWNWARD
The number of farms in Texas declined to an estimated 224,ooo in 19~or
8,ooo fewer than in the preceding year, according to the SRS. The number is less
than one-half the record 506,000 in 1931.
Consolidation of farm units accounted for the decrease in the number of
Texas farms in 1962, as total land area in farms remained stable at 154 million
acres. The average size of farms was 688 acres, compared with 664 acres in 1961.

L I VE S T 0 C K
Fort Worth cattle receipts during the week ended Thursday, March 21, showed
decreases of 31% from the preceding week and 43%--:frOm the corresponding period in
1962, states the Agricultural Marketing Service. Demand was good. for the reduced
su9ply, and trading was moderately active on all classes. Decreased supplies and
higher prices at northern markets, coupled with a good demand and higher prices for
carcass beef at wholesale centers, were the major factors accounting for the upward
trend for steers at Fort Worth after eight consecutive weeks of lower prices. Quotations for slaughter steers were mostly 50¢ to 75¢ per cwt. higher than on the preceding Thursday. Mixed Good and Choice 1,065- to 1,225-lb. slaughter steers brought
$22.25 to $23 per cwt., and Utility and Commercial cows sold mainly at $14 to $16.50 .
Trading on feeder cattle was moderately active, and closing prices for steers weighing over 500 lbs. were steady to 50¢ per cwt. higher than a week ago, with Good and
Choice 500- to 700-lb. feeder steers quoted at $22 to $25.20 per cwt.
At an estimated 700, the calf run was 100 more than both a week earlier
and a year ago. Prices for slaughteTCalves were steady to strong. Good grades of
killing calves weighing up to 550 lbs. brought $23 to $24 per cwt., and prices for
feeder steer calves weighing under 500 lbs. ranged from $22 to $26.
The hog supply is placed at 1,450, or 19% below the preceding week and
24% less than a year earlier. Trading was fairly active early in the period but
was only moderately active at midweek. Quotations for barrows and gilts were steady
to 25¢ per cwt. lower than on the previous Thursday. The bulk of the U. S. No. 1
through No. 3 Grades of 190- to 250-lb. butchers brought $14 to $14.25 per cwt.
Sheep and lamb offerings totaled approximately 10,300, compared with 8,000
a week earlier and l~O a year ago. Trading was fairly active, and closing prices
for slaughter spring lambs were steady to 50¢ per cwt. higher than on the preceding
Thursday; quotations for all other classes were mostly steady. Good and Choice 75to 91-lb. shorn slaughter lambs with No. 2 to fall-shorn pelts sold at $17 to $17.50
per cwt.
POULTRY
During the week ended Friday, March 22, the major Texas commercial broiler
markets opened weaker and then became steady orl'Tuesday, reports the State Department of Agriculture. The market in east Texas strengthened. slightly on Wednesday,
and that in south Texas remained fully steady; markets in both areas were steady
throughout the remainder of the trading period. Closing prices per lb. in south
Texas were 15.3¢ to 15.9¢, mainly 15.5¢ to 15.9¢; and quotations in east Texas ranged
from 14.5¢ to 15.4¢. During the corresponding period in 1962, the closing price
in south Texas was 16¢, and quotes in east Texas ranged from 15¢ to 15.7¢.
Commercial broiler markets were fully steady in south Texas and about
steady in east Texas on Monday, March 25. Prices per lb. were: South Texas, 15.3¢
to 15.9¢, mostly 15.5¢ to 15.9¢; and east Texas, 14.5¢ to 15.3¢, mainly 15¢ to 15.3¢ .

BROILER CHICK
PLACEMENTS

Area

Week ended
March 16, 1963

Percent change from
Comparable
Previous
week
week, 1962

Texas .....•
Louisiana ..

2,701,000
521,000

2
1

-7
-8

22 states ..

40,525,000

2

-5