-4- 



^^ Soybeans . The price of soybeans rose about 5 cents during the 



past week. Within the last day or two, prices declined rather drastically 

 New beans will be coming on the market shortly in volume, and if soybean 

 prices follow their normal seasonal trend, a further substantial decline 

 In price could be expected during the next couple of months. Both cotton- 

 seed oil aiad soybean oil have reached the high points of mid-September. 

 However, cottonseed meal and soybean mesil prices have declined as much 

 as $5 ^ "ton from the high points reached September 12. With the bumper 

 crop of beans coming on and the upward seasonal movement in corn prices 

 likely to be delayed somewhat by the government's willingness to sell 

 stored corn, soybean meal is likely to be depressed at least during the 

 harvest season. Soybean oil prices are likely to hold up fairly well 

 because of the increased demand for fats and oils both for domestic use 

 and for shipment under the Lease-Lend Act. 



Livestock Prices . The top price for hogs for the past week 

 was $11.50 reached on Wednesday, compared with $11.^0 a week earlier. 

 The top price got down to Jll.35 Tuesday. Hog receipts continue to be 



substantially below a year ago, and for this time of year the price is 



very 

 holding up/ well. Receipts of salable hogs at 12 public markets for the 



week ending September 27 were 25^,72^ compared with 319,790 a year 



earlier. Weights are also heavier for barrows and gilts at most markets, 



although for that particular week they were no heavier at Chicago. 



Choice steers have remained about steady in price, with the 

 top at $12.^5 Monday, and steady to 10 cents lower during the rest of 

 the week. Cattle receipts for the week ended September 27 at 12 markets 

 were 12 per cent in excess of the comparable week in 19^0. However, 

 receipts of calves were lower. An unusually large fraction of beef 

 steers sold at Chicago graded choice and prime. 



Dairy and Poultry Productg . Butter prices weakened some during 



