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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 743

Wednesday, March 25, 1964

P R0 S P E CT I VE
P L ANT I NGS
F 0 R 1 9 6 4
Planting intentions of the Nation's farmers for 1964 for 17 crops covered
by a March 1 survey indicate seedings of 261 million acres, according to the Statistical Reporting Service. The acreage is unchanged from last year but is 2% more than
in 1962. If growers carry out their plans for the 17 crops and allowance is made for
other crops not included in the March survey, the 1964 total planted acreage of all
crops in the United States could total 310 million acres. An acreage of this size
would be the largest since 1960 but would still be the fourth smallest of record.
Growers' plans were reported during the signup period for the 1964 feed grain program, and planting intentions for corn, sorghum, and barley may be altered by later
decisions on participation in the program. The passage of a wheat or cotton program
effective for the 1964 crop could also significantly influence the acreage finally
devoted to these two commodities, as well as to others. Present indications are for
a 3% smaller acreage of feed grains than in 1963 but a 3% larger acreage of food
grains. A sharp gain in soybean acreage is expected to result in a 4% increase in
the acreage of oilseed crops.
The table below shows the percentage changes in acreages of selected spring
crops which farmers intend to plant in 1964 from the planted acreages in 1963 for
the states of the Eleventh Federal Reserve District and the Nation.
PLANTINGS OF SELECTED SPRING CROPS
Five Southwestern States and United States
(Percent changes, 1964 from 1963)
All
corn

Oats

Barley

20
-3
-3
-9
-5

5

0

0
-10
9
-15
-10

-9
-12
-10

Five states •.•.

0

-10

-6

United States ..

0

-2

-4

Area

Cotton

Arizona ........•.
Louisiana •...•.•.
New Mexico •.••.•.
Oklahoma .•...•...
Texas ..........•.

-4
1
-4

SOURCE:

u. s.

1

All
sorghums

All
hay

10
0
-2

2

Peanuts

Rice

6
1

3
-2

7
4
0

-26
2
-2

0

-9

-1

2

-1

1

-7

0

1

0

1

Department of Agriculture.

1 I VE S T 0 CK
The Fort Worth cattle supply during the week ended Thursday, March 19,
totaled an estimat ed 3,000, or 100 fewer than in the preceding week but 300 more
than in the corres ponding 1963 period, reports the Agricultural Marketing Service.

Thursday quotations for slaughter steers weighing over 900 lbs. were mostly 50¢ per
cwt. lower than the previous week's close, while those for lighter-weight animals
were steady to 50¢ higher. Good. 925- to 1,190-lb. slaughter steers sold at $19 to
$21 per cwt., and. Utility cows cleared at $14 to $15. Closing prices for feeder
cattle were mainly 50¢ per cwt. lower than a week ago, with Good and Choice 650- to
900-lb. steers quoted at $19.50 to $21.50.
Calf offerings of about 800 reflected gains of 7% over a week earlie r and
23% over a year ago. Slaughter calves sold at prices which were strong to 50 ¢ per
cwt. higher than on the preceding Thursday. Standard and Good killing calves brough
~319 to $21. 50 per cwt., and prices for Good and. Choice 300- to 500-lb. stocker steer
calves ranged from $21.50 to $27.
A total of 1,000 hogs was received at Fort Worth during the week ended
March 19, or one-fourth more than a week earlier but about one-third fewer than the
comparable period last year. Closing quotations for barrows and gilts were about
25¢ to $1 per cwt. lower than a week ago. The bulk of the mixed lots of U. S. No. 1
through No. 3 Grades of 190- to 265-lb. butchers brought $14.50 to $15 per cwt.
Sheep and lamb receipts, at an estimated 6,400, compared with 1,800 a week
earlier and 10,200 a year ago. Monday was considered the official opening of the
1964 spring lamb trade, and offerings were the largest for any day since last October. Prices generally were fully steady, with the majority of the Good and Choice
65- to 96-lb. slaughter spring lambs quoted at $22 to $23.50 per cwt.
POULTRY
·For the week ended Friday, March 20, the ma,jor Texas commercial broiler
markets opened stronger and then became steady on Tuesday. Prices remained steady
throughout the rest of the trading period. At Friday's close, the undertone was
steady to firm in south Texas and unsettled in east Texas. The closing price in
south Texas was 15¢ per lb., and quotations in east Texas ranged from 13.8¢ to 15. 5
During the comparable 1963 period, closing prices in south Texas were 15.3¢ to 15. 9¢
and those in east Texas were 14.5¢ to 15.4¢.
Commercial broiler markets were fully steady in south Texas and slightly
weaker in east Texas on Monday, March 23. Prices per lb. were: South Texas, 15¢;
and east Texas, 13.7¢ to 14.8¢. - - -

BROILER CHICK
PLACEMENTS

Area

Week ended
March 14, 1964

Texas ••.•..
Louisiana .•

2,969,000
636,000

22 states ..

43,47~-

000

Percent change from
Previous
Comparable
week
week, 1963
9

12
22

0

6

-3