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AGRICULTURAL NEWS OF THE WEEK
FEDERAL RESERVE BANK OF DALLAS

Number 826

Wednesday, October 27, 1965

AGRICULTURAL
OUTLOOK
CONFERENCE
The U. S. Department of Agriculture's 43rd annual National Agricultural
Outlook Conference will be held in Hashington, D. C., on November 15-18, 1965. The
1965 Farm Program 'i'Till be discussed during the opening session. Copies of the final
program for the Cutlook Conference will be available at a later date, according to
the USDA.
BROWN
PATCH
LIKES
COOLER
WEATHER
Brown patches appearing in St. Augustine grass lawns are the result of
a disease caused by a fungus which becomes more active with the advent of cooler
Heather, states Texas A&M University. The disease is commonly referred to as
"brown patch" and is characterized by the dying of spots of grass in circular
patterns. 'Ihe disease is more easily controlled if fungicides are applied either
before the disease occurs or shortly after symptoms are noticed. Combinations of
fungicides containing PCNB are usually the most effective in controlling the
patches.
MORE
CATTLE
ON
FEED
As of October 1, 1965, there were 7.4 million head of cattle and calves
on feed for slaughter market in the 32 ma.ior feeding states, reflecting a 7% gain
over a year earlier. According to the Statistical Reporting Service, increases in
the numbers on feed were reported for all weight groups except those animals weighing less than 500 lbs. and those weighing 1,100 lbs. and over. A gain in the number
of heifers and heifer calves accounted for nearly three-fourths of the increase in
the number of cattle on feed as compared with October 1, 1964.
For the major cattle-feeding states of the Eleventh Federal Reserve District (Arizona, New Mexico, Oklahoma, and Texas), the number of cattle and calves
on feed as of October 1, 1965, totaled 923,oco head. This number is 13% above a
year ago.
WORLD
TRADE
IN
DAIRY
PRODUCTS
World commercial trade in dairy products in 1964 was substantially above
that of the preceding year, says the Foreign Agricultural Service. On a whole=--milk equivalent (butterfat) basis, the 1964 exports amounted to 45 billion lbs.,
compared with 42 billion lbs. traded in 1963. Exports of all major dairy products
except dry whole milk increased over the 1963 level. Nonfat dry milk, butter, and
canned milk shipments showed substantial gains, and cheese exports were up moderately. New Zealand, Denmark, the Netherlands, Australia, the United States, and
France continued to be the major exporters. The United Kingdom remained the world's
principal market for dairy products.
World trade in dairy products for 1965 is expected to decline slightly
from the 1964 level. Increased output in Western Europe, together with substantially larger butter and nonfat dry milk stocks than were on hand a yeaT earlier
in most West European countries, is expected to reduce the need for imports of
dairy products.

L I VE S T 0 CK
Widespread rainfall (varying from 1 11 to 5 11 ) over much of the Fort Worth
marketing territory at the beginning of the trading period sharply curtailed livestock receipts for the week ended Thursday, October 21, reports the Consumer and
Marketing Service. At a:rl"e"stimated 4,800, the cattle-supply reflected decreases of
19% from the preceding week and 32% from a year earlier. Demand for slaughter steers
and heifers was narrow, and steer offerings were too limited for an adequate test of
price trends. A partial load of Good 1,000-lb. slaughter steers brought $23.80 per
cwt., and Standard and Good 665- to 860-lb. animals sold at $20 to $22. Trading on
feeder cattle was active, and demand was broad for all classes. Thursday prices
for yearling steers were mainly 50¢ to $1.50 per cwt. higher than a week ago, with
mixed Good and Choice 485- to 650-lb. animals quoted at $23.50 to $24.90.
Calf receipts are placed at 2,550 - about the same as a week earlier but
150 fewer than in the corresponding 1964 period. Slaughter calf prices averaged
mostly fully steady. Good grades of killing calves weighing up to 550 lbs. cleared
at $20.50 to $22.50 per cwt., and quotations for 300- to 500-lb. stocker steer calves
ranged from $21 to $25.50.
Hog marketings totaled about 525, compared with 975 in the preceding week
and 800 in the corresponding period last year. Trading generally was rather active,
and 'Ihursday quotations for barrows and gilts were steady to 50¢ per cwt. lower than
a week ago. The majority of the 4-day supply of 205- to 260-lb. butchers cleared
at $23 to $23.75 per cwt.
Sheep and lamb offerings were approximately 2,100, a figure that is 16%
below the previous week and 25% less than a year ago. Prices generally were steady
with the preceding Thursday's close. Most of the Good and Choice 67- to 99-lb.
wooled slaughter lambs cleared at $21 to $22.50 per cwt.
POULTRY
For the week ended Friday, October 22, commercial broiler-fryer markets
opened steady in s~ Texas but stronger in east Texas, points out the State Department of Agriculture. Trading ranged from normal to brisk, and the undertone was
firm at Friday's close. Closing prices in south Texas were 15¢ to 15.5¢ per lb.,
and those in east Texas were 14.8¢ to 15.6¢. During the corresponding 1964 period,
the closing quotation in south Texas was 15¢ per lb., and east Texas prices ranged
from 14¢ to 15.6¢.
On Monday, October 25, commercial broiler markets were steady in south
Texas and about steady in east Texas. Prices per lb. were 15¢ in south Texas and
14.6¢ to 15.4¢ in east Texas.

BROILER CHICK
PLACEMENTS

Percent change from
Previous
Comparable
week
week, 1964

Area

Week ended
October l6z 1965

Texas ••••••
Louisiana ••

2,700,000
616,000

1
-2

13
14

23 States ••

422100,000

-1

14