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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 772 Wednesday) October 14J 1964 SIGNUP FOR 1965 WHEAT PROGRAM The fall enrollment for the 1965 winter wheat program began August 24 and was concluded Friday) October 2J according to the U. S. Department of Agriculture. There will be no extension of the fall signup period, but those farmers in predominantly spring wheat areas will have an opportunity to enroll from February 8 to March 26J 1965. The fall signup included 780,916 farms, or more than the spring and winter enrollment of 1964 combined. The acreage signed through the fall period totals ~4.848.504 ~' or 82% of the total effective allotment in the signup area. There are 24J522 growers in the high crop risk winter wheat areas of six states who have taken the option of exceeding their allotment acres by as much as 50% and storing under bond any excess production. The following table shows the respective position of the District states. State Total Wheat Farms (Number) Farms Signed Up (Number) Arizona Louisiana New Mexico Oklahoma Texas 1)155 1,270 4,717 77,708 68,067 443 775 1,716 55,073 40,893 Five states 152,917 98,900 Allotments On Farms Electing To Exceed Allotment (Acres) (Farms) Effective Allotment On Signed Total Farms (Acres) (Acres) Total Intended Diversion (Acres) 38,326 39)815 429,728 4,599,471 3,826,368 25)160 34)755 308)314 4,201,032 3,403,554 6,299 9)525 67)816 644)414 528,985 ~ 0 0 660 265,807 196,220 8)933,708 7J972J815 1)257,039 2)574 462,687 0 0 2 1)918 I NC RE A S E S P R I CE EMERGENCY Dairy farmers in 1J. Federal milk marketing orders have been granted temporary emergency price increases, according to the USDA. Under Federal legislation authorizing milk marketing orders) price increases cannot be granted solely to compensate producers for higher production costs brought on by drought. An essential requirement for a price increase is that the increase is needed to assure an adequate supply of fresh milk for consumers in the marketing area. To assist farmers further in areas affected by drought, the USDA is using other programs) which include permitting farmers to harvest hay and graze cattle on diverted acreage, the offering of feed grains from Government storage at reduced prices, ar.d the granting of emergency loans to eligible farmers. A temporary price increase of 10¢ per cwt. from now through March 1965 was granted to the following milk marketing order markets in Texas: North TexasJ Lubbock-Plainview, San Antonio, Central West Texas, Austin-Waco) and Corpus Christi. FARMER TRAINING FOR LONG-TIME NE E D S Tomorrow's farm businessman will operate more like any other businessman, according to the Agricultural Research Service. No one knows better than the U. S. farmer that modern farming calls for ever-increasing know-how and management ability on the part of the operator. Over the next decade or two, demand for this special combination of talents will probably intensify. The need for technical training and services tailored and oriented to the farmer will be generated. Areas of special emphasis will be tied closely to the increasing importance of management and marketing, the increased use of science on the farm, and continued growth of agricultural technology, including automation. LIVESTOCK Cattle marketings at Fort Worth during the week ended Thursday, October totaled an estimated 6,750, or 1% ab~ week earlie~d~bove a year ago. According to the Agricultural Marketing Service, slaughter steers and heifers sold at prices which were weak to lower compared with prices during the previous week. Prices for Good 800- to 1,105-lb. slaughter steers ranged from $20 to $22.50 per cwt., and Utility and Commercial cows sold from $11.50 to $14.50. Demand for feeder cattle closed weak, and prices were mostly $1 per cwt. lower. Good 450- to 690lb. yearling steers sold from $17 to $19.70 per cwt. The calf supply, at 2,500, was 14% above the preceding week and 14% above the corresponding 1963 period. Demand for slaughter calves was steady to weak, with those weighing under 400 lb. being difficult to clear. Good grades of 250- t 500-lb. killing calves cleared at $17.50 to $19 per cwt. Good 250- to 500-lb. stocker steer calf prices ranged from $17.50 to $21. Hog receipts are placed at 1,025, or 24% above a week earlier but 5% below the sa~period a year ago. Demand was steady to weak, and prices were quoted 50¢ lower than a week ago. The majority of the supply was composed of U. S. No. 1 through No. 3 Grades of 185- to 280-lb. butchers, which cleared at $15.50 to $16.2~ per cwt. Fort Worth sheep and lamb receipts of an estimated 3,300 were 8% below the previo'U'S";eek and 60% below--a:-year ago. Prices were mostly steady on all classes. Good and Choice 74- to 95-lb. slaughter wooled lambs cleared at $20 to $21 per cwt. POULTRY For the week ended Friday, October 9, the major Texas commercial broiler markets opened weaker i~h south and east Texas, reflecting price declines in other major producing states, according to the State Department of Agriculture. Prices at the close of the week were fully steady in south Texas and steady to unsettled in east Texas. Supplies were ample to adequate for the fair demand. The closing price in south Texas was 14¢ per lb., and quotes in east Texas ranged from 12.8¢ to 14¢. During the corresponding 1963 period, closing prices were 13.5¢ to 14¢ per lb. in south Texas and 12.7¢ to 13.5¢ in east Texas. Texas commercial broiler markets were about steady with fair demand on Tuesday, October 11. The price quoted in south Texas was 14.5¢, and quotations in east Texas ranged-rrom 13.5¢ to 14.8¢ per lb. Area BROILER CHICK PLACEMENTS Week ended October 3, 1964 Percent change from Comparable Previous week week, 1963 Texas ...... Louisiana .. 2,346,ooo 503,000 13 -9 18 25 22 states .. 37,077,000 7 8
