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AG RI CULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS ITumber 782 Wednesday, December 23, 1964 IMPROVED C H R I S T M A S TREES Eight years from now, some Christmas shoppers may be able to buy pine trees with their own ornaments of decorative cones, reports the U. S. Department of Agriculture. Scientists at the USDA's Institute of Forest Genetics at Placerville, California, are developing such a Christmas tree by crossing the Sierra Nevada lodgefOle pine with the shore pine. The resulting hybrid grows to 6 feet within 4 to 5 years. From thick, dark green foliage, the tree grows its own decorative cones at 5 years of age, just as it reaches Christmas tree size, say the scientists. Growers are expected to get the trees for field testing in 1967, and 5 years later, the new tree may be on sale in some areas at Christmastime. APPROVED QUOTAS COTTON MARKETING Preliminary returns from a referendum held in cotton-producing states on December 15, 1964, show that growers of upland cotton approved marketing quotas for the 1965 crop by a 96.3% favorable vote, according to the USDA. Growers of extralong-sta"p~otton approved 1965-crop marketing quotas by an 80.3% favorable vote. Since more than the necessary two-thirds of the growers voting have approved quotas for both types of cotton, marketing quotas will continue in effect for 1965 crops, with growers who exceed farm acreage allotments being subject to penalties on the excess production. The marketing quota penalty on "excess" upland cotton is 50% of the cotton parity price as of June 15, 1965. The penalty on extra-long staple cotton is either 50% of the parity price as of June 15, 1965, or 50% of the support price for that kind of cotton, whichever is higher. Price support will be available to growers complying with effective acreage allotments for the particular kind of cotton grown. Moreover, producers who participate in the domestic allotment program for upland cotton will be eligible for price support payments, as well as for loans. FARM LABOR DRIVE MORE F 0 R The U. S. Department of Labor has launched a massive effort to recruit American farm workers for seasonal jobs. Secretary of Labor Wirtz says that this movement has been made in anticipation of the December 31, 1964, termination of Public Law 78, under which thousands of Mexican nationals entered the United States annually to work on farms. FROZEN P UR C HA S E S D I S C 0 NT I NUE D BEEF The USDA has made its last purchase of USDA Choice grade frozen beef for the 1964-65 school lunch program. In announcing an end to the purchases, the Department stated that supplies of frozen beef are now adequate to meet the needs of school lunch outlets throughout the current school year. Since the purchase program began in March 1964, the USDA has bought 178.5 million lbs. of frozen beef. Purchases of canned beef of USDA Cutter grade or higher will continue until further notice. Additional purchases of the canned product for distribution to needy families is expected to provide a stabilizing effect at a time when cow marketings are continuing heavy, according to the USDA. L I VE S T 0 CK Fort Worth cattle and calf receipts during the week ended Thursday, December 17, were below a week earlier but were substantially above the corresponding 1963 period, according to the Agricultural Marketing Service. The cattle run totaled an estimated 4,300, compared with 6,ooo in the previous week and 3,000 a year ago. Trading on slaughter steers was slow, but that on other classes was mcderately active. Compared with the preceding Thursday's close, slaughter steers sold at prices which were steady to 50¢ per cwt. lower. Good 1,025- to 1,130-lb. slaughter steers brought $20.25 to $21.25, and Utility and Commercial cows were quoted at $11.50 to $13.50 per cwt. Thursday prices for feeder yearling steers and heifers were steady to 50¢ per cwt. higher than a week ago, with mixed Good and Choice 500- to 680-lb. yearling steers quoted at $17.50 to $18.60 per cwt. Calf supplies are placed at 1,700, or about 400 fewer than in the preceding week bu:t°400 more than a year ago. Good grades of slaughter calves weighing up to 575 lbs. cleared at $16.50 to $18.50 per cwt., and prices for mixed Good and Choice 350- to 475-lb. stocker steer calves ranged from $18 to $19.50 per cwt. Hog marketings of about 850 were up 21% from a week earlier but were down 2g/o from the corresponding period last year. Demand was fairly broad for most classes and very little net price change was noted. The majority of the U. S. No. 1 through No. 3 Grades of 185- to 275-lb. butchers sold at $14.50 to $15.50 per cwt. A total of 2,100 sheep and lambs was received at Fort Worth during the wee. ended December 17, reflecting dec~ses of 30% from the preceding week and 64% from the year-earlier level. Demand was fairly broad, and trading was moderately active. Compared with the previous Thursday, prices for slaughter classes were fully steady. Good and Choice 77- to 90-lb. shorn slaughter lambs with mixed pelts brought $19 to $20 per cwt. POULTRY For the week ended Friday, December 18, the principal Texas commercial broiler markets opened fully steady, reports the State Department of Agriculture. Prices remained unchanged throughout the trading period, and at Friday's close, the markets were steady, with a firm undertone. Movement was relatively light, as consumer interest was focused on ham and turkey. The closing quotation in south Texas was 14¢ per lb., and east Texas prices were 12.5¢ to 13.5¢. During the comparable 1963 period, closing quotes in south Texas were 12.5¢ to 13.5¢, and those in east Texas ranged from 11¢ to 12¢. On Monday, December 21, commercial broiler markets were fully steady in south Texas and about steady in-east Texas. The following prices per lb. were quoted: South Texas, 14¢, and east Texas, 12.5¢ to 13¢. BROILER CHICK PLACEMENTS Percent change from Comparab1-e Previous week week, 1-963 Area Week ended December 12, 1964 Texas ..•.•. Louisiana •. 2,634,ooo 692,000 11 -5 -12 31 22 states .. 39,8i7,ooo 1 2
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