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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 741 Wednesday, March 11, 1964 ADVISORY C 0 MM I T T E E 0 N C A T T L E On March 3) Secretary of Agriculture Freeman announced the establishment of an Advisory Committee on Cattle. The committee members will represent producer, trade, and consumer interests. Twenty-two members, including three U. S. Department of Agriculture officials, were named by Secretary Freeman} who said that the appointment of additional members would be announced soon. The Secretary is asking the advisory committee, at its first meeting, to give special attention to beef imports, current negotiations with respect to world trade in beef, and other matters relating to cattle policies and programs. SMALLER CR0 P LAMB The 1963 lamb crop in the United States is placed at 19.3 million head, or 5% below the 1962 crop, points out the Statistical Reporting Service. The lamb crop percentage (lambs saved per 100 ewes 1 year of age or older on farms and ranches as of January 1) was 94 in 1963 - the same as the 1962 percentage. In Texas the 1963 lamb crop totaled 2.9 million, reflecting a 6% decline from a year earlier. The lambing percentage of 72% was the lowest since 1957 and 3 points below the 1962 figure. RURAL PROGRAM Secretary of Agriculture Freeman recently announced the inauguration of a new program of loans and technical assistance to help local people develop the resources of low-income farming areas. The new program, termed "rural renewal," will be administered principally through local public agencies, such as county governments and rural renewal authorities. Federal assistance will be administered in five areas on a pilot basis by the USDA's Farmers Home Administration during fiscal 1964. F 0 R NEEDY PERSONS E G G PRODUCTS The USDA will soon make available dried eggs to families receiving foods under the Direct Food Distribution Program. Purchase'S of dried whole egg solids will be made with Section 32 funds. Secretary of Agriculture Freeman says: "This action is being taken in response to President Johnson's over-all objective of easing the impact of poverty among needy people." Over 5 million needy persons currently are being provided with surplus foods in 48 states and more than 1,500 counties. AND FAIR F 0 R C 0 N 8 U ME R S H 0 ME The USDA will hold a Food and Home Fair for Consumers in Washington, D. C., April 14-30, according to a recent announcement by Secretary of Agriculture Freeman. Services available to consumers from the USDA will be featured in d.isplays for the public in the Department's administration building. Secretary Freeman says that the fair " . . . will be an important means of enabling consumers to recognize and to make better use of the Department's many services and safeguards." L I VE S T 0 CK The cattle run at Fort Worth during the week ended Thursday, March .2_, totaled approximately 3,100 head - unchanged. from a week earlier but almost one- fourth below the corresponding 1963 period, reports the Agricultural Marketing Service. Trading on slaughter steers was slow each day, but prices were fully 50¢ per cwt. higher than the previous week's close. Good and Choice 1,010- to 1,250-lb. slaughter steers sold at $19 to $21 per cwt., and Cutter and Utility cows brought mainly ~n4 to $15 .50. Demand continued broad for thin feeder cattle weighing under 600 lbs., and quotations were fully steady to 50¢ per cwt. higher than on the preceding Thursday. Good and Choice 475- to 730-lb. yearling steers cleared at $22 to $24.25 per cwt. Calf receipts of an estimated 900 compared with 500 a week ago and 850 a year earlier. Prices were fully steady with the previous week's close. Standard and Good grades of slaughter calves sold at $18 to $21 per cwt., and prices for most of the Good and Choice 250- to 500-lb. stocker steer calves ranged from $23 to $26.7 At approximately 950, the hog sup-ply was about the same as the week-earlie' figure but was one-fourth smaller thana year ago. Trading was active each day, and prices held mostly steady. The majority of the U. S. No. 1 through No. 3 Grades of 175- to 260-lb. barrows and gilts brought $14.50 to $15 per cwt. Sheep and lamb offerings are placed at 2,200, reflecting decreases of 29% from the previouS-Week and 68% from the corresponding 1963 period. Demand was broad and prices generally were fully steady. Good and Choice 67- to 101-lb. shorn slaugb· ter lambs with No. 1 and No. 2 pelts cleared at $18 to mostly $19 per cwt. POULTRY For the week ended Friday, March .§., commercial broiler markets were steady in south Texas on Tuesday and slightly stronger in east Texas, points out the State Departmen~Agriculture. (The markets were closea:-oil Monday, March 2, in observance of a Texas state holiday. ) At Friday's close, markets in both areas were steaa· with the undertone firm in south Texas but unsettled in east Texas. Trading ranged from moderate to bris k. Closing prices in south Texas were 13.5¢ to 14.3¢ per lb., and those in east Texas ranged from 13.2¢ to 13.9¢. During the corresponding 1963 period, closing quotations in south Texas were 16.3¢ to 16.8¢, and east Texas pricee ranged from 15.2¢ to 15.9¢. On Monday, March 9 , commercial broiler markets were slightly stronger in south Texas and steady in east Texas. The following prices per lb. were quoted: South Texas, 14¢ to 14.5¢; and east Texas, 13.3¢ to 14¢. BROILER CHICK PLACEMENTS Percent change from Comparable Previous week, 1963 week Area Week ended February 29, 1964 Texas ...... Louisiana .. 2,897,000 589,000 0 -1 20 12 22 states .. 42,503,000 3 11
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