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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 763

Wednesday, August 12, 1964

BEEF
CATTLE
P R I CE S
Prices received by Texas farmers and ranchers for beef cattle of all types
during the first 7 months of 1954 averaged 14% below the same period of 1963. Prices
for slaughter cattle declined slightly less than did those for stocker calves and
feeder steers. (See charts on reverse side.) Top prices of Good 800- to 1,100-lb.
slaughter steers at Fort Worth averaged 11% below the first 7 months of 1963, and
average quotations for slaughter cows, stocker calves, and feeder steers were down
13%, 17%, and 15%, respectively.
U. S. red meat output during January-June 1964 was 8% above the first 6
months of 1963. The increased beef output accounted for a large part of the gain.
During the first half of 1964, the number of cattle slaughtered was 11% above a year
ago. Red meat production in Texas was also up 8%. The number of cattle slaughtered
was 16% above year-earlier levels, while that of calves was down 12%. Hog slaughter
in the State decreased 7%, and the number of sheep and lambs killed declined 1%.
On July 1, 1964, there were 3% fewer cattle on feed in the 28 ma,ior feeding states than a year ago. The number on feed in these states declined~from
April 1 to July 1, compared with a 16% decrease in the corresponding 1963 period.
Fed cattle marketed during the second. quarter of 1964 exceeded the same period of
1963 by 11%. If cattle feeders' intentions materialize, the July, August, and September marketings will be 6% greater than a year earlier. In Texas, the number of
cattle and calves on feed as of July 1 was 11% more than a year ago but was 15% below April 1, 1964. If Texas feedlot operators follow their reported intentions,
almost three-fourths of the July 1 total will be marketed during July-September,
or 16% above the corresponding 1963 quarter.

POULTRY
In the week ended Friday, August 7, the major Texas commercial broiler
markets opened steady,--reports the State Department of Agriculture. The high side
of the east Texas price range was up slightly on Thursday, while the south Texas
market remained steady throughout the trading period. At Friday's close, the undertone was slightly unsettled to firm. The closing price in south Texas was 14.5¢ per
lb., and east Texas quotations ranged from 13.5¢ to 15.1¢. During the corresponding
1963 period, closing prices were: South Texas, 14¢, and east Texas, 13.1¢ to 13.6¢.
Commercial broiler markets were stronger in south Texas and about steady
in east Texas on Monday, August 10. The following prices per lb. were quoted:
South Texas, 15¢, with two loads-;t 14.5¢; and east Texas, 13.5¢ to 14.6¢.

BROILER CHICK
PLACEMENTS

Percent change from
Previous
Comparable
week
week, 1963

Area

Week ended
August 1, 1964

Texas ......
Louisiana ..

2,754,000
572,000

-3

4
7

22 states ..

40,250,000

-2

3

-3

CATTLE PRICES ON THE FORT WORTH MARKET
(Monthly averages of top Thursday prices)

DOLLARS PER CWT.

34
STOCKER CALVES,
CHOICE, 250-500 LBS.

31

28

FEEDER STEERS,
CHOICE, 500-SOOLBS.

25

22
SLAUGHTER STEERS,
GOOD, 800-1100 LBS.

1963

1964

DOLLARS PER CWT.

20

15

SLAUGHTER COWS,
COMMERCIAL,ALL WEIGHTS
1963
SOURCE: U.S. Department of Agriculture.

1964