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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
May 08, 1973
Page
3
Texas dairy and ranch sectors show higher prices for mohair and wool while cattle on feed increase. Mohair average price rose to 83 cents per pound in 1972, up from 30.1 cents in 1971. total 1972 mohair value to Texas producers reached $8.46 million, up 89 percent. Wool output fell slightly but average wool price rose to 48 cents per pound, with total wool value at $14.1 million in 1972.
An annual Butz report to the White House ignores private grain dealings that fueled large Soviet sales last year. The document credits the July 8 3 year credit pact with Moscow and notes officials visited Moscow and Washington, while Congress investigates possible leakage and windfall profits for private traders linked to Continental Grain Co.
Washington AP reports seed prices for the 1972 spring season hit record levels with some hay and forage seeds up as much as 100 percent from a year earlier. Forage seed sericea lespedza averaged 99.10 per 100 pounds, more than double the prior 44.70.
Texas Agriculture Commissioner John C. White released 1973 figures from the Texas Crop and Livestock Reporting Service showing crop receipts at 1.442 billion and livestock at 2.362 billion. He notes gains over 1971 in most major crops, weather helped prices, and livestock losses rose during a hard winter.
About 4000 Texas dairy producers confront rising feed costs and shrinking net returns this year. White warns some may exit the business, risking milk shortages. However consumption is recovering after years of decline. Texas ranks ninth in milk production with ~3.5 billion pounds yearly and average cow value rising from 235 to 360 dollars.
Cotton acreage around Pecos and across the belt sold 1973 crop at up to 40.00 cents per pound for Deltapine and Stoneville varieties, basis Middling 31, staple 34. Many contracts issued since late February with quality terms, harvesting methods, and cutoffs. Pima contracts climbed to 14 cents over CCC loan rates. growers report rising futures and forward sales in response to flood concerns and weather.
A note on cotton market quotes states base quality will shift from Middling 31 to a new standard in spot quotations. The adjustment affects pricing references used by buyers and sellers in immediate trading.
The Fertilizer Institute reports a four percent rise in domestic disappearance over nine months ending March, while farm shipments trail in the Midwest and southcentral regions. Edwin M. Wheeler warns ongoing weather delays hamper movement as Northeast and some North Central areas show improvement.
United States and European olive production declined last year. Greece and Spain produced 171,900 tons, down 23 percent from 1971, while U S crops dropped to 27,000 tons from 57,000. Foreign Agriculture Service report notes tighter supplies affecting table olives and related uses.
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