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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 706 Wednesday, July 10, 1963 STORM CLOUDS F 0 R BR 0 I L E R P R 0 DUCE RS ? A significant buildup is taking place in the Nation's broiler hatching egg supply flocks. If this trend continues, a massive price-depressing expansion in broiler output is in prospect for late this year and early next year, says the U. S. Department of Agriculture. Compared with 1962, pullet chicks added to broiler hatchery flocks were up 22% in April and 40% in May. During the first quarter of the current year, the indicated number of layers producing broiler hatching eggs was 7% below the corresponding period in 1962; however, as a result of the substantial increase in the number of pullet chicks placed on farms during the past several months, the number of layers producing broiler hatching eggs by October is expected to be about 9% above a year ago. A similar buildup in broiler hatching egg flocks accompanied the overproduction and disastrously low prices that prevailed during much of 1961. L I V E S T 0 C K 0 F F I C E S CONSOLIDATED Effective July 1, the Packers and Stockyards Division of the Agricultural Marketing Service ha'S'"C'entralized its 25 offices into 15 larger and more strategically located working units. According to the USDA, this action was taken in order to streamline and further strengthen the operations of the Division. Eleven of the present field offices of the Packers and Stockyards Division will continue in their present locations, with expanded areas of coverage. Four new field offices are being established, and 13 of the Division's present field offices have been consolidated into the new field office structure. COTTON BARTER AGREEMENT RECORD Secretary of Agriculture Freeman recently announced an agreement providing for a record-breaking barter of U. S. agricultural commodities for strategic materials from India. Up to 300,000 bales of cotton, and possibly other CCC-owned agricultural comiiiO'dities, will be exported to India in exchange for materia ls valued at approximately $40 million. Cotton is expected to account for at least 90% of the total value of agricultural commodities shipped to India under this barter project. Approximately $16 million earned by U. S. industry for processing costs will bring the value of the barter transaction to about $56 million. Secretary Freeman says that this is the largest bilateral barter transaction ever negotiated between the United States and another country. CAMPAIGN ANTILITTER With the unveiling of a special poster on June 25, Federal agencies joined forces with Keep America Beautiful, Inc., in an all-out effort against littering. Sponsoring t'h"e"Federal phase of the antilitter campaign are the Forest Service of the USDA and the National Park Service of the Department of the Interior. Plans are to place the new poster in all camp and picnic grounds administered by these agencies. U.S. MILK FOR BOY SCOUT JAMBOREE Approximately 20,000 Boy Scouts from all parts of the world will drink U. S. recombined milk at the 19b3"°International Boy Scout Jamboree to be held in Athens, Greece, July 29-August 16, reports the Foreign Agricultural Service. The Commodity Credit Corporation will supply the nonfat dry milk and butterfat from surplus stocks. The Scouts are expected to consume around 216,000 quarts of the recombined milk. L I VE S T 0 CK During the 3-day trading period ended Wednesday, July 3, pre-Fourth of July holiday supplies~ll classes of livestock except ca'i'Ve'S were smaller than in the preceding week, reports the Agricultural Marketing Service. Cattle offerings of an estimated 3,100 compare with 4,000 a week ago and 2,700 a year earlier. Demand for most slaughter classes was fairly broad, and trading generally was active. Closing quotations on slaughter steers were mainly 25¢ per cwt. higher than on the preceding Thursday. Standard and Good 885- to 1,135-lb. slaughter steers brought $20 to $22.50 per cwt., and Utility and Commercial cows sold mostly at $14 to $15.50. Demand continued broad for most feeder cattle, and_ quotations were fully steady, with Good and Choice 500- to 650-lb. yearlings quoted at $22 to $23.50. At approximately 1,000, the calf run was about unchanged from a week earlier but was double that of a year ago:Prices for slaughter calves were fully steady to strong each day. The majority of the Good grades of killing calves cleared at $23 to $24.50 per cwt., and most of the Good and Choice feeder steer calves brought $26 to $28.50. Hog marketings are placed at 1,200, or 150 fewer than in the preceding week but 150 more than during the corresponding period last year. Trading was active each session, and closing quotations on barrows and gilts were fully 25¢ to 50¢ per cwt. higher than a week earlier. The bulk of the 185- to 245-lb. butchers sold at $18 to $18.50 per cwt. A total of 4,500 sheep and lambs was received at Fort Worth during the week ended July 3, reflecting decreases of 40% from a week ago and 36% from a year earlier. Quotations for most classes were fully steady with the preceding week's close. Good and Choice 65- to 85-lb. wooled spring slaughter lambs ranged from $17 to $20 per cwt. POULTRY During the week ended Friday, July 5, the principal Texas commercial broil~ markets opened steady and continued steady-throughout the trading period, closing with a firm undertone. According to the State Department of Agriculture, supplies were adequate in east Texas but became short in south Texas, as the holiday and weekend demand was much greater than was anticipated. The closing quotation in south Texas was 14. 5¢ per lb., and prices in east Texas ranged from 13. 7¢ to ll.~¢. During the corresponding period in 1962, the closing quote in south Texas was 14.5¢, and prices in east Texas were 13.2¢ to 14.3¢. Texas commercial broiler markets were slightly stronger on Monday, July ~· Prices per lb. were: South Texas, 15¢; and east Texas, 14¢ to 14.1¢. Area BROILER CHICK PLACEMENTS Week ended June 29 2 1963 Percent change from Previous Comparable week weekz 1962 Texas •.•... Louisiana .. 2,968,000 620,000 -3 -9 15 30 22 states •. 42,912,000 -1 8
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