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AGR.ICULTURAJJ. NEWS OF THE WEEK Numo-er-·cyy-.. -.-. .:------.~.-.. ---..·- - - - -~-·.-... ---·-.·Wednesda.y, NoYemb.er 2.1 f :~ 195.1 . . ·--~-- ·-· -... -.-. ~.~~. Federal Reser.re Bank of Dallas COTTON the cot+,on ·rriarket has been very unstable since the USDA announced on November 8 its revised estimate of the 1951 cotton crop, placing the figure 7 percent below the 6ctoher estimate. MiadltngE'JI6:.1nch cotton in the 10 snot markets ·rose to a peak of Ld .43.. cents per pound on tlovember 9 and has 'fluct;1ated within a range of about 2-1/2 cents since that date. On Tuesday, November .20, the price Vvf3.S lf2. I+ 7 cents per pound. . • ' Lo!3,ri _equities in the Southwest are reported to be moving ir1to· trade channe.ls ·ancrs ome are oringing, as high as ;~65 00 per bale. 0 GRAINS Gra:i,n prices on the Fort 1~orth market last week continued the. advance 1 that began last month-; with corn and sorghum grains scoring the largest· gains. On 'L'uesday, November 20, No. 2 yellow corn sold for a top price of $2.22-1/4 per bushel. - 8 cents over a week eal'lier and 19 cents above a month ago. No. 2 white corn at ~2 .43-1/J..i was up 7 cents for the week and 17 cents for the ffionth. No • . 2 yeliow mil 'J :reached $3.06 per cwt. - up 6 cents since Tuesday of las:t week , . and 24 cents s·int.,, the same date last month. No. l hc~'.i wheat sold Tue s day at a top price of ~2. 78-J/4 - 1/2 cent above a wee!-:: ear Her, although .fract,ionally below last week's high. No. 2 white oats at e1.28-l/4 per bushel were off 1 cent from rnonday but fractionally above a .week earlier. . The November estimate of the Texas grain sorghun crop remained unchanged from the October forecast of aJ.r!lost 90 million bushels; this compares w:Lth the record crop of 149 million bus Lel.s produced in 19)0. . The Texas corn crop is esti.m..o::tted at nearly 1..i6 million bushels as against 66 million produced in 1950. Rice markets in '.Lexas and J,ouisiana continued steady lc;,st week, according to the PMA:--:F'armers offered very little rough rice for sale at prevailing prices, while most growers refused to sell below the price support level. A few sales of No. 2 Patna yielding 49 to 52 pounds of head rice and G8 to 69 pounds of total milled rice were made in the Houston area at $5. 25 to ~) 5 .41 per 100 pounds. Texas rice production is now estimated at 12.4 million 100-pound bags, which compares-wlt'Flll.5 million bags produced in 1950. • PEANUTS The PWJ.A reported last weei< that harvesting of peanuts continued at a slmv rate in Texas, where reports of vuy poor yieldri-contTrlue?f to come in. Growers v:ere r eceiving support price in all areas. The demand for shelled peanuts was good and the market was stroni;::er, with shelled Spanish Uo. J. selling at 22 to 22-1/2 cents per pound, f .o.b. shipping point. The Texas peanut crop is indicated at 11..iO million pounds, the lowest production since 1939:"°'i'he 1950 crop was 323 million pounds. The yield per acre is only 300 pounds, vs. 660 pountls last year. Yields this year are the lowest since records were begun in 1?10 and c ompare with the previous lo·.v of JOS pounds in the drought year 1934. I.J T.VESTOCK AND MI:AT The small supply of slauehter steers '.l.nc1 yearlings sold about steady on the Fort lorth market l ;: st week, while corv p1·ic es dr opped ab out ~ l.00. Slaughter ------ 1· AGHICULTUAAL NEWS OF THE 'WEEK Wednesday, November 21, .1951 Page 2 ~N-um~b~e-r--::9~9:--~~~~~~~~~--~~~~~--~~~~~~__..__::__ calves declined 50 cents to $lo00o The sharp break in sheep and lamb prices that occurred week before last continued last week with slaughter lambs weak to 50 cents lov.rer and. slaughter ewes dovm 50 cents to $LOO. Hog prices showed only small changes for the week. -On Tuesday, November 20, Good and Choice slaughter steers and yearlings brought $30.00-34'100, a few yearlings at ;r,34 .50., Canner and cutter cows sold at $13~00-19.)0; Utility cows sold mainly from $20Q00 -23~50; a few head Coilli~ercial at ~~25 o}00-26 oOOo Stockers and feeders of Medium and Good grade sold at $26~00-32.50. Commercial and Good slaughter calves sold TuPsday at $25Q00-31.00, a few Choice at $32 .. 00-33~So, ·cull and Utility at $18~00-24 ,oo. Choice 180-270 pound hogs brought $18.75 and $19000. Choice 150-175 pounds and 280-400 pounds cleared from $17~50-18.50o A fe¥r Prime shorn slaughter lambs sold from ~v29 .. 00-30.00 and some wooled slaughter larnos brought $J0,,00o The cattle feeding situation on November 1 pointed to a high level of cattle feeding this season, according to the BAE . The movement of cattle into the Corn Belt and some other important feeding areas continued larce durin~ October, reachin::'; near-record volume bv the end of the month. Also, more sheep and lambs will t.j 1ed for the winter and spring season than the low number fed last season. Commer0ial meat production in Texas during September totaled 6 percent above the sa."Ile month last year~ Production in the first 9 months of 1951 was about the same as the corresponding period of 19~0. January-September production of commercial meat in the u. Sa was down 1 percent from a year earlier~ r 0 0 1 A. N D M0 HA I R Conditions in the Boston wool market lasG week remained about unchaneed from previous weeks, according tothe PMA11 Business activity in the domestic wool producing areas remained dormant, although some interest w~s evident in the Texas fall clip, with asking prices and offerings ranging from 20 to 25 cents apart· Buyers were reported offering 60 cents, grease basis, and growers were asking 80 to 85 cents. The mohair situation was very quiet, POULTRY Texas broiler movement was slow during the past week with supplies continuing light but adequate for the sl~N demand, according to the Texas Department of Agriculture. Sales by growers in East Texas on Monday of this week were 23-24 cents, mostly 24 cents, per pound, Prices in South Texas were about 1 cent higher, Prices received by producers for turkeys in Texas last :rere steady to firm with some sales 1 cent per pound higher. No. 1 toms commercial fed sold in South Texas this week at 32-35. cents per pound, mostly 34-35; hens 39-40 c~nts, a few at 37-38 cents .. Commercial hatchery production in Texas during October totaled 4 million chicks, a half million more than in September. October was the fifth consecutive month in which Texas hatchery production established a nevr monthly record. About 82 percent of the October hatch was commercial broiler chicks and 18 percent farm flock chicks . Total hatchery production in the State in the first 10 months of this year 1as up lS per~ent over the comparable period in 1950. ··• 1'! . Pritchett Agricultural Economist
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