^p largest markets for Argentine dairy products. The United States has 

 been buying very large quantities of casein and cheese, but practically 

 all of the Argentine butter goes to Great Britain. The speeding up of 

 the Argentine dairy industry has been quite welcome to that country 

 because of the inability to export feedstuffs. This vrill at least 

 improve the market for feeds to a limited extent, 

 n-e neral Commodity Price Trend . 

 Long-time: Strongly upward 

 Intermediate: Upward ' .* 



._ Short- time: Upward ... • 



Although there has been some decline during the past week in 

 prices of farm products, the decline has not gone far enough to indicate 

 any change in the direction of the general trend.. 1-lost of the decline 

 seems to be a normal correction of the very rapid rise of the previous 

 two weeks •■ • ■■ 



Livestock . The top prices for steers have remained. fairly • 

 ^ steady during the past two weeks, fluctuating between ^12. 60 and %\2,t^ .. 

 at Chicago, The top price Wednesday .v;as |12.75- D'oring the past four 

 months of the year top prices for choice and prime cattle reached their 

 seasonal peaks. There usually is not much fluctuation in prices during 

 these four months, the price .depending largely upon the volume of receipts 

 and trends in purchasing power of consumers. ^At the present time current 

 receipts of salable cattle at, 12 public market^ for the week ended 

 September I3 were four to five per cent below the comparable week a year 

 earlier. For the month of August, receipts of cattler were two per cent^ 

 ^. below August, 19^0. This indicates that receipts, at tr.e present time 

 at least, are not a seriously depressing factor and with the current 



increase in incomes of industrial workers it would seem that the^rice 



• ■ • ' ' ' I 



of choice cattle ■ should be well maintained. Weights are heavier this^ 



