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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Wednesday, May 29, 1963

Number 700

WHEAT
REFERENDUM
RESULTS
Preliminary results of the wheat referendum on-rvfaY 21 show farmers did not
approve marketing quotas for 1964-crop wheat, according to state Agricultural Sta--bilization and Conservation offices. In the Nation, 597,776 votes t~re cast against
marketing quotas, while 547,151 votes favored quotas. A record number of votes was
cast; and the referendum was defeated by approximately 52% of the farmers voting.
The preliminary figures do not include 73,245 challenged ballots. Since two-thirds
approval was needed by those voting, marketing quotas will not be in effect on the
1964 wheat crop.
Acreage allotments - previously announced at 49.5 million acres - will
continue in effect as a condition of eligibility for price support, which will be
at 50°/o of parity as of the beginning of the marketing year on July 1, 1964.
In the states of the Eleventh Federal Reserve District, the following
are the preliminary results of the voting on the referendum, excluding challenged
ballots:
Percent
Negative
Affirmative
affirmative
State
votes
votes
Total votes
Arizona
Louisiana
New Mexico
Oklahoma
Texas

172
149
1,010
17,656
21,740

542
741
1,381
25,845
26,736

714
890
2,391
43,501
48,476

24.1
16.7
42.2
4o.6
44.8

w0

0 ATS
BARLEY AND
R L D p R 0 DUCT I 0 N 0 F
World production of barley has continued to climb, according to the Foreign
Agricultural Service, and the record barley outturn during 1962 totaled almost 3.9
billion bu., mainly as a result of excellent crops in Western Europe and the SoVIe't
Union. Production of oats throughout the world last year was about unchanged from
the previous season but was below the 1955-59 average. The 1962 reductions in oats
acreage were general, but the Soviet Union showed the largest decrease.
The Soviet Union reports a substantial increase in barley output as compared with 1961 but a reduction in the outturn of oats. Barley acreage was increased
about 7.4 million acres, while that of oats was reduced 8.6 million acres. Estimated
yield per acre of barley was below 1961_, while that of oats was greater.
SCREWWORM
FUND
DRIVE
S U CCE S S F UL
The Southwest Animal Health Research Foundation drive to collect $3 million for screwworm eradication has been declared successful, according to C-.-G-.~
Scruggs, foundation president. TabU'iations of private contributions from Texas
totaled more than $2.9 million; contributions have also been reported from several
other states. These private funds comprise part of the estimated $12 million to
be used to carry out the program for a 3-year period. The Federal Government is
furnishing about half of the total, and an additional $3 million is expected from
appropriations from the Texas Legislature.

L I VE S T 0 CK
Marketings of cattle and calves at Fort Worth during the week ended Thursday, May 23, were moderately above those in the preceding week but :were- significantly
below the-Corresponding period in 1962, according to the Agricultural Marketing Serv ice. The cattle supply of an estimated 3,900 compares with 3,800 in the previous
week and 7,100 a year ago. Trading was moderately active during most of the period.
Closing quotations on slaughter steers and heifers were steady to 25¢ per cwt. higher
than on the preceding Thursday. Cattle prices per cwt. were: Good 550- to 745-lb.
slaughter steers, $21.00 to $22.00; Utility and Commercial cows, $13.50 to $16.00;
and Good and Choice 725- to 915-lb. feeder steers, $20.00 to $22.00, with sales lat e
in the week mostly $20.50 and up.
The calf run is placed at 700, or 50 more than the week earlier but 750
fewer than a year-a-go-; Prices were steady to 50¢ per cwt. lower than in the preceding week. Good grades of killing calves brought $22.50 to $24.50, mainly $24.oo
or lower. Choice 250- to 500-lb. feeder calves were sold at $24.00 to $30.00.
Hog receipts totaled around 1,400, or 3% below the week earlier and 30%
less than~ comparable period last year. The bulk of the U. S. No. 1 through
No. 3 Grades of 185- to 270-lb. barrows and gilts brought $14.25 to $15.00.
A total of 15,900 sheep and lambs was received at Fort Worth during the
week ended May 23, compared with 18--;oo'O'"'tiie week earlier and 42,000 in the same
period a year ago. Demand was fairly broad throughout the trading period for most
classes. Good and Choice offerings of slaughter spring lambs, including 65- to
100-lb. averages, brought $20.00 to $22.00 per cwt. The market for feeder lambs
closed steady to 50¢ per cwt. lower than in the previous week.
POULTRY
During the week ended Friday, May 24, commercial broiler markets opened
steady in both south and east Texas and remained steady throughout the week, according to the State Departme'Yit()f Agriculture. At Friday's close, the south Texas
.market was fully steady with an unsettled undertone, while the east Texas market
strengthened slightly with a firm undertone. Demand in both areas improved by the
end of the week. Closing prices per lb. in south Texas were 16¢, and those in
east Texas ranged from 15¢ to 15.9¢. During the comparable period last year, closing quotations in south Texas were 14¢ to 14.5¢, and prices in east Texas were 13.4¢
to 13.8¢.
On Monday, May 27, commercial broiler markets in Texas were steady to
slightly stronger, and movement of supplies was brisk to normal. Prices in south
Texas were 16.5¢ per lb., and those in east Texas were 15.0¢ to 16.0¢, mostly
15.5¢ to 15.9¢ per lb.

Area
BROILER CHICK:
PLACEMENTS

Week ended
May 18, 1963

Percent change from
Comparable
Previous
week
week, 1962

Texas •...••
Louisiana ..

3,232,000
625,000

-3
-2

10
14

22 states .•

45,474,ooo

-2

6