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not followed this general trend. Although in general there have been 

 no substantial weaknesses, there have been some rather wide fluctuations 

 in the price of soybeans, general strength in the prices of feed grains 

 and some weakness in the prices of wheat and rye. Kog prices have 

 increased substantially during the year to reach a nev/ peak of $1^.55 

 for 220-270 pound hogs, Wednesday. This rise from January to April is 

 largely seasonal, A new peak was also reached in the price of choice 

 steers Thursday at $l6.75« This is the highest top price for steers 

 since 1937; when $19 was paid. ■, : . ' - • 



Domestic demand . Not a week goes by but that there are 

 developments or that information becomes available concerning previous 

 developments that affect the prices of farm products. The course of the 

 war is extremely important, not that it means more people will buy or 

 refrain from buying foodstuffs in the near future as the immediate 

 result of developments in Burma, India or northern Africa, but these 

 developments do help determine the duration and outcome of the war. 

 Farmers are interested in the duration of t,he war not -only from a. . ■: 

 humanitarian standpoint, but also from the standpoint of the effect of 

 the war upon prices of farm products. Certainly from the longer time 

 point of view, the sooner we win the war, the better off farmers will 

 be. From now on there may be a tendency for the costs of goods and 

 services farmers buy to rise faster than the' prices of farm products. 

 There may also be some tendency for land values to rise, and this would 

 tend to lower rather than raise profits from farming. Then too, it is. 

 probable that for a year or two following the war there may be a good 

 foreign demand for U. S. farm products based both upon actual need in 

 Europe and upon our probable willingness to make the goods available to 

 people in countries where the livestock population has been depleted 

 during the war. The outcome of negotiations betwe.en England and India 



