-5- 



IpDold storage holdings of lard April 1, 19^2, were ^3 per cent less than 

 they were a year earlier and also 11 per cent less than the 1937-^1 

 average. Cold storage holdings of pork are also 25 per cent below the 

 April 1, 19^1, holdings, but beef in storage was 6o per cent higher than 

 a year ago. 



According to a recent report approved by President Roosevelt 

 and the Prime Minister of Canada, the production of oil-bearing crops 

 will be increased in the United States and the production of oats, 

 barley and flaxseed will be increased in Canada. It v/ould appear that if 

 shipping facilities are maintained, there should be no shortage of 

 linseed oil. The War Production Board has limited civilian construction, 

 but it is expected that the increases in war dema.nds for paint and 

 varnish oils will offset this influence on prices. Canada supports 

 flaxseed prices at $2.20 a bushel at Fort William. Flaxseed prices have 

 risen during the past month in the United States, although they have not 

 yet reached the maximum level of 110 per cent of -oarity, whioh would have 

 been about §2.75 ^^ March I5. On April 2, the Argentine G-rain Board 

 raised the price asked for flaxseed for export oy 15 1/2 cents a bushel. 

 Freight rates betv^een Buenos Aires and New York increased I3 cents a 

 bushel and the war risk insurr.nce increased 6 cents a bushel since 

 February. The total increase in price of imported flaxseed is about 3^ 

 cents a bushel. 1 



We are still getting some copra from the southeri!^ Pacific area, 

 but only a fraction of the quajitity we formerly received from the 

 Philippines. With the increase in the production of soybeans, peanuts, 

 (j|fccottonseed, flaxseed, beef tallow and lard in the United States, v/e 

 should be able to take care of our own requirements for fats and oils, 

 and there might be some question concerning the possibilities of maintain- 

 ing the prices of both lard and soybean oil at present levels. However, 



