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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 711

Wednesday, August 14, 1963

BE E F
CA T T L E
P R I CE
T RE NDS
Thus far in 1963, prices received by Texas farmers for beef cattle have
averaged about 3% below the comparable period last year. These prices, which include quotes on all types of cattle, mask some of the price movements which occurred
for fat cattle and for stockers and feeders. Prices for slaughter cattle during
January-July this year have averaged lower than in the same 7 months in 1962, while
those for stockers and feeders have remained about unchanged. (See charts on reverse
side.) Top prices on slaughter cows at the Fort Worth market averaged 2% less, and
those for Good 800- to 1,100-lb. slaughter steers were 6% lower.
The output of commercial beef in the United States in the first half of
this year totaled 7,812 million lbs., an amount which is 6% greater than in the same
period. a year ago. Most of the rise in beef production reflected an increase in the
output of fed beef, which increased quite notably during the April-June quarter.
Supplies of fed beef may continue large for several months during the latter par t
of this year. On July 1 of this year, the number of cattle on feed in 28 major
feeding states was 11% larger than· a year earlier, and in Texas the number of cattle
being fed was almost one-fourth larger. In the major feeding states, steers and
steer calves accounted for most of the increase - 14% above last year - in total
numbers on feed; heifers and heifer calves on feed were 6% larger, while numbers of
cows and other types of cattle being fed were 16% below July 1962. Cattle feeders
in the major livestock feeding areas have indicated they expect to market 3.8
million head, or 56% of their July 1 numbers on feed, by the end of September.
Marketings of this magnitude would be 9% above those in the same period last year.
POULTRY
During the week ended Friday, August 9, the major Texas commercial broiler
markets opened steady--:rn-south Texas and were slightly stronger in east Texas. Movement of broilers during the week ranged from normal to brisk; supplies were a little
short throughout the week. Trading continued to be highly competitive, and out-ofstate supplies remained a factor in the market. At the close of the week, the market in south Texas was steady, while the east Texas market was slightly stronger,
reflecting price increases in other major broiler producing areas. The undertone
was firm in both areas. The closing price in south Texas was 14¢ per lb., and
quotes in east Texas ranged from 13.1¢ to 13.6¢ per lb. During the corresponding
period a year ago, the closing quotation in south Texas was 15.5¢ per lb. and prices
in east Texas were 14.6¢ to 14.9¢ per lb.

CATTLE PRICES ON THE FORT WORTH MARKET
{Monthly averages of top Thursday prices)
DOLLARS PER CWT.

34

STOCKER CALVES,
CHOICE, 250-500 LBS.

32
30

28

26

FEEDER STEERS,
CHOICE, 500-800 LBS.
1962

1963

DOLLARS PER CWT.

30

25

SLAUGHTER STEERS,
GOOD, 800-1100 LBS.

~------------

20

SLAUGHTER COWS,
COMMERCIAL,ALL WEIGHTS

1962
SOURCE: U.S. Department of Agriculture.

1963