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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 736 Wednesday, February 5, 1964 WHEAT S T A NDA RD S T I GHT E NE D The U. S. Department of Agriculture will tighten official U. S. standards for wheat grades in an important step toward increasing dollar sales of U. S. wheat in overseas markets, reports Secretary of Agriculture Freeman. In general, the new wheat standards - based on smaller ranges of tolerance for grades - will mean less dirt, foreign matter, and dockage in American wheat than formerly. The new standards, which will become effective on May !, are designed to - * Improve the competitive position of U. S. wheat in world markets, where competition is expected to intensify in the future. * Help combat increasingly restrictive trade policies in some areas, especially the Common Market. * Enable the Commodity Credit Corporation to improve its guarantee of the quality of grain owned by the public. * * Provide substantial taxpayer savings in the export subsidy program. Strengthen the price for the farmer who grows quality wheat. TEXAS OFF-FARM GRAIN STORAGE CAPACITY The off-farm grain storage capacity in Texas on January l' 1964, totaled 910 million bu., representing a 9 million-bu. decrease from a year earlier, according to the Statistical Reporting Service. Following the rapid expansion during 1959-61, new storage construction in the State came to a virtual standstill in 1962. Available capacity began to decrease during 1963, as obsolescence and diversion of space to uses other than grain storage more than offset the added capacity of new construction. Additional capacity for handling export grain was constructed in Harris, Jefferson, and Nueces Counties. Texas ranks first in off-farm grain storage capacity, followed by Kansas and Nebraska. Sorghum grain accounted for 79% of the off-farm grain stocks in Texas on January 1, 1964, and wheat comprised 20%. Combined stocks of corn, oats, barley, rye, and soybeans made up only 1% of the total. A GR I C U1 T U R A 1 T RA I NE E S F R0 M 1 2 0 C0 UNT R I E S In 1963 the USDA helped train 3,800 agricultural leaders and specialists from 120 countries, including all new African nations. During the past 8 years, nearly 21,000 persons from abroad have received training in the USDA. These foreign agricultural leaders are sponsored mainly by the State Department's Agency for International Development (AID), but the USDA plays the major role in their training. T E XA S WI N T E R VE GE T A B1 E 8 The aggregate production of 1964-crop winter vegetables in Texas is expected to be 6% below the previous season, according to the Texas Crop and Livestock Reporting Sey.;i~A prospective decrease in output of carrots likely will be only partially offset by expected increases in outturns of cabbage, cauliflower, lettuce, and spinach. 1 I VE S T 0 CK Fort Worth cattle and calf supplies were down slightly for the week ended Thursday, J'a'lliiary 30, according to the Agricultural Marketing Service. Cattle receipt~ of an estimated 4,300 reflected decreases of 1% from the previous week and 10% from a year ago. Trading on slaughter steers was generally slow, while that on other classes was moderately active. Closing prices for slaughter steers were 50¢ to $1 per cwt. lower than a week earlier. High-Standard and Good 940- to 1,045-lb. slaughter steers brought $19.25 to $20.50 per cwt., and Utility and Commercial cows sold at $12.75 to $15.25. Thurs day quotations f or feeder steers and heifers weighing over 600 lbs. were mostly st~ady, but those fo r lighter-weight animals were steady to 50¢ per cwt. higher. Medium and Good. 695- to 790-lb. feeder steers cleared at $18 to $20 per cwt. Calf marketings totaled about 1,300, or 50 fewer than in the preceding week but 150 more than a year ago. Slaughter calves sold at prices which were strong to 50¢ per cwt. higher than a week ago. Good grades of killing calves weighing up to 550 lbs. brought $19.50 to $21 per cwt., and 250- to 500-lb. stocker steer calves were quoted at $20.50 to $24.50. Hog offerings are placed at 1,400, compared with 900 a week earlier and 1,550 in the corresponding 1963 period. The relatively broad demand for hogs held price fluctuations to a minimum. Most of the U. S. No. 1 through No. 3 Grades of 185- to 275-lb. butchers cleared at $14.50 to $15.50 per cwt. A total of 3,606 sheep and lambs was received at Fort Worth in the week ended January 30, or 18% fewer than-in the preceding week and 44% below a year ago. Generally steady prices prevailed each day, wi~h the majority of the Good and Choice 67- to 95-lb. shorn slaughter lambs with No. 3 to fall-shorn pelts quoted at $17 to $18 per cwt. P 0 U1 T RY For the week ended Friday, January 31, the principal Texas commercial broiler markets opened about steady and then remained steady throughout the rest of the trading period, according to the State Department of Agriculture. On Tuesday, interest from some out-of-state sources began centering on Texas broiler-fryers as prices remained about 1/2¢ per lb. lower than in other major broiler-producing areas. Trading was brisk throughout the week. At Friday's close, the undertone was unsettled in both south and east Texas. Closing prices in south Texas were 12.5¢ to 13¢ per lb., and those in east Texas ranged from 12.4¢ to 13.5¢. During the comparable 1963 period, closing quotations in south Texas were 15.5¢ to 16¢, and east Texas prices ranged from 14.9¢ to 16.1¢. On Monday, February 3, commercial broiler markets were fully steady in south Texas and about steady in east Texas. Prices per lb. were: South Texas, 12.5¢ to 13¢; and east Texas, 12.5¢ to 13.2¢. BROILER CHICK PLACEMENTS Percent change from. Previous Comparable week week, 1963 Area Week ended January 25, 1964 Texas ...... Louisiana .. 2,645,000 560,000 5 7 6 22 states .. 36,503,000 0 2 6
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