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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Wednesday, March 3, 1965

Number 792

R E C R E A T I 0 N ADDS
INCOME
Over 20,000 Texas farmers and ranchers made their land available to hunters and fishermen in 1964, according to the Texas Agricultural Extension Service.
For granting hunting and fishing privileges, the landowners received payments in
excess of $12 million. The estimated total expenditures of the sportsmen are placed
at $383 million.
GRA Z I NG A S S 0 C I A T I 0 NS
F 0 R ME D
Two new grazing associations have been formed by 24 ranchers in Rosebud,
Park, and Gallatin Counties of Montana, according to the U. S. Department of Agriculture. These associations have been financed with Farmers Home Administration
insured loans amounting to $867,300. Secre~ary of Agriculture Freeman says that
the loans will strengthen family ranches by increasing income and will place an
additional $180,000 a year in local community trade channels.
Cooperating with the Farmers Home Administration in the formation of the
two grazing associations are agencies engaged in the development of rural areas,
including the Agricultural Stabilization and Conservation Service, the Soil Conservation Service, the Montana State Extension Service, the Forest Service, and the
Bureau of Land Management. Local banks and the Production Credit Association will
provide most of the credit needed by ranchers to finance their cattle enterprises,
according to the USDA.

VE GE T A B L E

GUI DE S

A NN0 UNCE D

The USDA recently announced acreage-marketing guides for 1965-crop summer
and fall vegetables for fresh use, swnrner melons, sweet potatoes, and vegetables
for commercial processing. The guides call for a 1% reduction in total planted
acreages of summer melons and summer and fall vegetables for fresh market. Sweet
potato growers are advised to plant acreages equal to those in 1964. In contrast,
a 2% increase in the total acreage of vegetables for commercial processing is recommended.

CA1 F
CR0 P
UP
3 %
The 1964 national calf crop totaled almost 43 million head, or 3% more
than the 1963 crop. According to the Statistical Reporting Service, the 1964 figure
marked the sixth consecutive year of increase. Compared with the previous year, the
larger calf crop in 1964 was primarily the result of more cows and heifers on farms.
For the states of the Eleventh Federal Reserve District (Arizona, Louisiana,
New Mexico, Oklahoma, and Texas), the 1964 calf crop is placed at 8.3 million head,
which is also 3% above the 1963 crop.
FARM
LAB 0 R
For the first time since 1959, employment of seasonal hired farm labor
in the Nation increased in 1964, reports the U. S. Department of Labor. Larger production of noncitrus fruits and tomatoes was primarily responsible for the slight
rise over 1963. Increased mechanization of the cotton harvest continued to reduce
the seasonal labor requirements of cotton growers and was the major cause of the
further decrease in foreign-worker employment, wh i ch has been declining since 1959.

1 I VE S T 0 CK
Cattle receipts at Fort Worth advanced during the week ended Thursday,
February 25, while supplies of other classes of livestock were reduced, points out
the Consumer and Marketing Service. The cattle run is placed at 2,800 head, compared wit h 2,400 a week earlier and 3,100 a year ago. Trading on slaughter steers,
heifers, and cows was slow each day. Slaughter steers and heifers weighing over
700 lbs. sold at prices which were steady to 50¢ per cwt. lower than on the preceding Thursday, and quotes for lighter-weight animals were off 50¢ to $1 per cwt.
Good 860- to 1,080-lb. slaughter steers cleared at $18.50 to $20.50 per cwt., and
Utility and Commercial cows sold at $12.50 to $14.50. Feeder cattle prices were
mostly steady to 50¢ per cwt. higher than the preceding week's close, with Good
500- to 670-lb. steers quoted at $17.50 to $20 per cwt.
Calf offerings of about 800 head were 32% smaller than a week earlier but
were 52% larger than in the corresponding 1964 period. Quotations for slaughter
calves were mainly 50¢ to $1 per cwt. lower than a week ago. Good grades of killing
calves weighing up to 575 lbs . sold at $18 to $20.50 per cwt., and prices for 300to 475-lb. feeder steer calves ranged from $18 to $21.80.
Hog marketings, at an estimated 825 head, were 50 fewer than a week ago
and 100 less than a year earlier. Trading was active, and prices were mainly steady
to strong. The bulk of the mixed lots of U. S. No. 1 through No. 3 Grades of 190to 260-lb. barrows and gilts brought $16.50 to $17.50 per cwt.
Sheep and lamb offerings totaled only 400 head - the smallest volume in
many months-:-l5emand was broad, and slaughter lamb prices were strong to 50¢ per
cwt. higher than in the previous week. The majority of the Good and Choice mixed
lots of 87- to 97-lb. old-crop wooled lambs brought $21 to $23.50 per cwt.
POULTRY
For the week ended Friday, February 26, the major Texas commercial broiler
markets opened steady, reports the State Department of Agriculture. This period
marked the fourth consecutive week in which south Texas broiler prices have remained
constant, and east Texas prices have shown very little fluctuation. Markets in both
areas were steady throughout the trading period, although the undertone was slightly
unsettled at Friday's close. Closing prices per lb. were: South Texas, 15.5¢, and
east Texas, 14¢ to 15.3¢. During the comparable 1964 period, closing quotes in
south Texas were 13¢ to 13.5¢, and those in east Texas ranged from 12.5¢ to 13¢·
Texas commercial broiler markets were fully steady on Monday, March l·
The following prices per lb. were quoted: South Texas, 15.5¢, and east Texas, 14¢
to 15 .3¢.

Area
BROILER CHICK
PLACEMENTS

Week ended
February 20, 1965

Percent change from
Comparable
Previous
week
weekl 1964
6

Texas ..•..•
Louisiana . .

2,847,000
595,000

-5

-2
0

23 states ..

44,413 000

0

6