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AGRICULTURAL NEWS OF THE WEEK FEDERAL RESERVE BANK OF DALLAS Number 798 '.'lednesday, April 14, 1965 STANDARDS B E E F QUALITY REVISED Quality standards for beef grades are being revised to reflect consumer preferences more accurately, reports the U. S. Department of Agriculture. The principal effect of the action will be to reduce the amount of fat, or marbling, as a factor in determining the grade of beef. In a parallel action that will reflect consumer preferences for more lean-type beef and encourage production of beef animals) the USDA is also instituting a separate and optional standard which can be used to determine the amount of closely trimmed retail cuts of meats that a beef carcass can produce. The revised c1uality grade standards for carcass beef and the establishment of separate cuttability standards for beef will be effective June !' 1965. P E S T I C I D E S I N F 0 R Ivi A T I 0 N C E N T E R Secretary of Agriculture Freeman has announced the establishment of a pesticides information center in the USDA's National Agricultural Library. The center - a facility in the Department's accelerated program of research and education in the field of pest control - will be coordinated \Ti th the Departments of Health, Education, and Welfare; Interior; and Defense, together with other Federal and state agencies, including the Federal Committee on Pest Control. According to the Secretary, the pesticides information center is a pioneering development, marking a significant advance in making widely available a considerable amount of scientific and technical information on pests and their control. FEDERAL LAND BANK LOANS REACH PEAK The Nation's farmers had a record $~.8 billion in long-term mortgage loans outstanding from Federal Land banks as of February 28, according to Glenn Browne, Deputy Governor and Director of the Land B~nk Service of the Farm Credit Administ r ation. This upswing has resulted from farmers' efforts to (1) modernize and enlarge their operations; (2) replace or remodel farm homes, barns, and other farm buildings ; and (3) balance their long- and short-term credit. According to Mr. Browne, thes e efforts have caused a strong demand for farm credit. I NCR EA S E D A CRE A GE 0 F VA L E N C I A - T Y P E P E A NU T S The USDA has announced an increase of 3,056 acres in allotments f or states producing Valencia-type peanuts in 1965. In these states, the allotment for farms producing this type peanuts will be increased on a pro rata basis according t o the average acreage of Valencia-type peanuts grown on each farm in 1962, 1963, and 1964. The amount of increase will be about 38% of the average acreage of Valencia-type peanuts grown during 1962-64. The increase has raised the national total for all types of peanuts to 1.6 million acres. For the Eleventh District states producing Valencia-type peanuts, the acreage increases are 2,788 acres in New Mexico (the final 1965 allotment for all types of peanuts is 8,333 acres) and 99 acres in Texas (the final allotment is 357,315 acres). L I VE S T 0 CK Fort '.forth cattle receipts during the week ended Thursday, April 8, are placed at 2,100 head - about unchanged from a ueek ago but 36% below the coillparable 1964 period, reports the Consumer and Marketing Service. Demand was broad for most slaughter cattle, and trading i.·m s moderately active. Slaughter steers sold at prices which were strong to mainly 25¢ to 50¢ per cwt. higher than the previous Thursday's close, with mixed Good and low-Choice 940- to 1,065-lb. animals quoted at $22.75 to $23.25 per cwt. Utility and Commercial cows sold at $13.50 to $15 per cwt., and Canners and Cutters brought $11 to $14. Feeder steer prices were mostly 50¢ to $1 per cwt. higher than a week ago, with Good 600- to 680-lb. animals bringing $19 to $22. 20 per c1·rt. Calf marketings totaled an estimated 750, reflecting decreases of 19% from a week ago and from a year earlier. Slaughter calf prices were strong to mostly 25¢ to 50¢ per ci:·? t. higher than on the preceding Thursday. Good grades of killing calves weighing up to 5 50 lbs. brought $20 to $21. 50 per cwt., and 350- to L!-75-lb. stocker steer calves were quoted at $19. 50 to $22.40. A total of 1,150 hogs was received at Fort Horth during the week ended April 8. The figure compares-;ith 625 in the preceding week and 1,000 in the corresponding period last year. 'I'hursday prices for barro11s and gilts were mostly steady with a week earlier. The bulk of the mixed U. S. No. 1 through No. 3 Grades of 190- to 260-lb. butchers cleared at $16.50 to $17.50 per cvrt. Sheep and lamb offerings of about 6,700 were sharply above both the preceding week and a year ago. Trading generally was fairly active, and quotations were mainly steady. Gocd and Choice 63- to 105-lb. slaughter spring lambs brought $22 to $25.50 per cwt. 9% POULTRY For the week ended Friday, April 9, the ma,ior Texas commercial broiler markets opened stronger, reports the State Department of Agriculture. The markets became steady on Tuesday and then fluctuated very little throughout the remainder of the trading period. At Friday's close, the undertone in east Texas was slightly unsettled, while that in south Texas remained firm. Closing prices per lb. were 16¢ in south Texas and 15¢ to 16.5¢ in east Texas. During the corresponding 1964 period, the closing quotation in south Texas was 14¢, and east Texas prices ranged from 13. 3¢ to lL~. 2¢. On Monday, April 12, commercial broiler markets were fully steady in south Texas and about steady in east Texas. 'Ihe following prices per lb. were quoted: South Texas, 16¢, and east Texas, 15.3¢ to 15.8¢. BROILER CHICK PLACEMENTS Percent change from Comparable Previous week, 1964 week Area Week ended April 3, 1965 Texas •••••. Louisiana •. 3,116,000 592,000 4 -2 1 -7 2j states .. 47,j30,000 1 6
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