-3- 



^f stocks, up 6.5 per cent; creamery butter, up ^9 pei" cent; cheese, up 2^ 

 per cent; eggs, \ip 2.5 per cent, and total meat in storage, up about 20 

 per cent. This Included, about ^.9 per cent more beef and about 15 per 

 cent more pork. Excessive lard holdings were reduced between August 1 

 and September 1, and are now only about four per cent above the large 

 holdings of September 1, 19^0. 



The Situation in Canada and Argentina , Effective August 25, 

 /the Canadian Minister of Agriculture announced that the exportation of 

 certain grains was prohibited except under special permit. This re- 

 striction on exports was brought about in order to conserve Canada's 

 supply of feed grains so they would have sufficient quantities to pro- 

 duce the large amounts of animal products that they will need for home 

 use and to fulfill their contracts with G-reat Britain. Livestock pro- 

 duction in Canada has been increasing, with the most substantial increase 

 occurring in the case of hogs. The corn-hog ratio has not been as favor- 

 able for feeding in Canada as it has in the United States, but recent 

 increases in hog prices have restored the ratio to a more favorable level 

 and large increases are anticipated. Cattle production has also been 

 increasing in recent years and marketings are running about six per cent 

 greater than a year earlier. Production of dairy products in Canada 

 . has been well maintained in spite of dry pastures in the main producing- 

 provinces. July butter production was 7-9 per cent above 19^0 » and the 

 production of cheese and concentrated milk products was also running ahead- 

 of the previous /year. " . • 



The dairy industry of Argentina is enjoying the greatest period 

 of production and trade in history. This is especially favorable to 

 Argentina, inasmuch as there has been a huge increase in exports of 

 dairy products for the first six months of 19^1 as compared v/ith the 

 same period of 19.^0. The United States and the United Kingdom are the 



