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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 794

Wednesday, March 17, 1965

EROSION
I S MAJ 0 R C 0 N S E R V A T I 0 N PROBLEM
Soil erosion is still the dominant conservation problem on the non-Federal
rural land of the United States, according to an interpretative report of the National
Inventory of Soil and Water Conservation Needs recently published by the U. S. Department of Agriculture. The report shows that nearly two-thirds of the land included in
the inventory still needs conservation treatment. The publication is a narrative interpretation of the statistical summary of the inventory released by the USDA in 1962.
Single copies of Miscellaneous Publication No. 971, Soil and Water Conservation Needs - A National Inventory, may be obtained from the Office of Information,
U. S. Defartment of Agriculture, Washington, D. C. 20250.
B 0 L L
WEEVILS
SURVIVE
WINTER
Preliminary surveys of hibernating boll weevils in the Texas High Plains
area indicate encouraging progress in the all-out campaign begun last fall to halt
the westward spread of this cotton pest, reports the USDA. Ground trash collected
during January 1965 in a nine-county area showed an average of only 281 live weevils
per acre, compared with 2,650 weevils found during the corresponding period last
year. Campaign workers attribute this nearly 90% reduction to the intensive eradication effort conducted in September and October 1964 to kill the boll weevils before they had a chance to go into hibernation.

FEWER

W0 0 L

P R I CE S

DE CL I NE

World wool prices have declined 20% to 25% since March 1964, when they
were at their highest level since 1957, according to the Economic Research Service.
The lower price level resulted from (1) declining mill use of raw wool in the principal manufacturing countries, (2) larger world supplies, (3) shifts to use of lowerpriced man-ma.de fibers, and (4) changing monetary and fiscal policies in several
producing and consuming countries. With continued large supplies, world wool prices
likely will remain at about current levels during the first half of 1965, and there
probably will be some downward adjustments in domestic wool prices during the year
as a result.
Q· ~· wool prices have declined 5% to 10% since May 1964, when they were
at their highest level since 1957· Compared with world prices, the smaller decline
in U. S. wool prices during 1964 and early 1965 probably resulted. from the limited
quantity of domestic wool available for sale, since only nominal sales were made in
the past 4 to 6 months. Consequently, U. S. wool prices were higher than those for
comparable grades of foreign wools. The average price received by U. S. producers
for shorn wool during 1965 likely will be moderately below the 1964 level as a result of increased blending and substitution of man-made fibers and of larger world
fiber supplies, points out the ERS.

RE CR E A T I 0 N- C 0 NS E R VAT I 0 N S T I CKE R
A new $7 recreation-conservation sticker will entitle the driver of a
private noncommercial auto and all his passengers to admission to most Federal recreation areas for the year beginning April 1, 1965, according to the USDA. (An
additional fee may be charged in a few areas.) The recreation-conservation stickers may be purchased from field offices of Federal agencies administering recreation

areas. An alternative single entry fee, or in some places a weekly fee, may be paid
in lieu of purchase of the sticker.

L I VE S T 0 C K
The Fort Worth cattle supply during the week ended Thursday, March 11,
totaled about 4,300, reflecting gains. of 5% over the preceding week and 39% o;er a
year ago, reforts the Consumer and Marketing Service. Trading on most slaughter
cattle was moderately active. Slaughter steers sold at prices which were steady to
25¢ rer cwt. lower than the previous Thursday's close. Mixed Good and Choice 985to 1,215-lb. slaughter steers cleared at $22 to $22.50 per cwt., and Utility and
Commercial cows brought $12.75 to $15 per cwt. Feeder cattle prices were strong
to $1 rer cwt. higher than a week earlier, with mixed Good and Choice 495- to 700lb. yearling steers quoted at $20.30 to $21.10 fer cwt.
Calf offerings of approximately 875 were about unchanged from a week ago
but were one-fifth larger than in the corresponding 1964 period. Prices for averageto high-Good grades of slaughter calves were barely steady, while those for Standard
and low-Good animals were steady to 50¢ per cwt. higher. Good grades of killing
calves brought mostly $18.50 to $19.50 per cwt., and mixed Good and Choice 300- to
~-75-1 b. stocker steer calves were quoted at $20. 40 to $22. 60 per cwt.
The hog supply is placed at 600, or 175 fewer than in the previous week
and 200 less than a year earlier. Thursday quotations for barrows and gilts were
fully steady to 25¢ per cwt. higher than a week ago. The majority of the mixed
U. S. No. 1 through No. 3 Grades of 190- to 265-lb. butchers sold at $16.50 to
$17.50 per cwt.
Sheep and lamb marketings, at an estimated 2,000, compared with 1,100 a
week earlier and~800 during the corresponding period last year. Trading generally
was active, and Thursday prices were fully steady to strong for all classes except
spring lambs, which were steady to 50¢ per cwt. higher. Good and Choice 70- to 99lb. old-crop shorn slaughter lambs with No. 2 to fall-shorn pelts cleared at $22 to
$23.50 per cwt.
POULTRY
For the week ended Friday, March 12, the ma,ior Texas commercial broiler
markets opened stronger, with south Texas prices up 0.5¢ per lb., reports the State
Department of Agriculture. Markets in both south and east Texas were about steady
throughout the rest of the week, and the undertone was firm at Friday's close. The
closing quotation in south Texas was 16¢ per lb., and prices in east Texas ranged
from 15.2¢ to 16¢. During the comparable 1964 period, the closing quote in south
Texas was 14.5¢ per lb., and east Texas prices ranged from 13.5¢ to 14.7¢.
On Monday, March 15, commercial broiler markets were stronger in south
Texas and slightly stronger~n east Texas. Prices per lb. were: South Texas, 16.5¢,
and east Texas, 15¢ to 16.8¢.

BROILER CHICK
PLACEMENTS

Area

Week ended
March 6, 1965

Texas •••..•
Louisiana ••

2,855,000
572,000

23 states .•

1~4 ' 997 ' 000

Percent change from
Previous
Comparable
week, 1964
week

-3
-6

--.;

-3
0