XJl b(, x^-^ 



Cooperative Extension Work In Agriculture and Home Economics 

 f' ^ Ujilverslty of Illinois College of Agriculture, Urfcana, Illinois, 



J^ ^ and U. S, Department of AgricXilture cooperating 



WEEKLY REVIEW AND FARM OUTLOOK LETTER 



J >j» 



By G. L. Jordan *, tttl *.ij. ...... t,- j>-^ 



Professor, Agricultural Economics 



o 



University of Illinois \ ^^^ 



College of Agriculture ^ l':.';V5-'^\ j il. 



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(Prepared November ll) 



Wednesday, November 10, the top price paid for hogs was $13.75 at Chicago, 

 the government support price. Receipts were J)6,000, Packers, already had an over- 

 supply from earlier in the week and about 12,000 head had to be held over. The labor 

 shortage in packing plants is a major contributing factor. Local shipping associa- 

 tions are voluntarily holding up shipments pending calls from tei-mlnal markets. A 

 system of government penults may be necessary to assure orderly marketing and maximum 

 prices to farmers. 



The disappearance of all feed grain, including wheat and rye, was 35 per- 

 cent greater from July to September this year than last. With this very rapid dis- 

 appearance of grain. It is probable that we shall face another feed shortage in many 

 areas next spring and early summer. The government recently relinquished control 

 over the marketing of corn, that is, the destination of corn received by local eleva- 

 tors. It is indicated, however, that in order to build up a backlog of supplies to 

 take care of emergency needs of processors, the government expects to purchase about 

 52 million bushels of com by June 1. Any stockpile that Is built up will have to 

 come from com of reasonably low moisture content that is suitable for storage. That 

 may mean a little more competition between feeders, processors, and the government 

 later on. Efforts continue to be made to provide wheat for feed. It is reported 

 that five eastern distilleries expect to shift over to the use of molasses Instead of 

 wheat for the production of alcohol. The molasses -for-alcohol program is expected to 

 relieve about 68 million bushels of wheat a year for livestock feeding purposes . 



The general consensus of opinion seems to be that the end of the war with 

 Germany will have the following effects: (l) War spendlngs will be cut about one- 

 third. (2) There will be some army demobilization and no more drafting of men. (5) 

 Unemployment will not be especially severe for the nation but may be acute in local 

 areas, {h) Rationing and price control will probably continue for some time. (5) 

 There will be no chance to buy automobiles and other consumer goods in large quanti- 

 ties for several months after the war In Europe ends. (6) The war with Japan will 

 continue, probably well into I9I4-5. 



Shoes may be scarce this winter, but the Office of Price Administration 

 promises us 30-days' notice before shoe stamp No. I8 expires. 



Although oranges have been scarce and high priced, the outlook is for an 

 early and mid-season crop (October to May) about I8 percent more than last season. 

 The grapefruit crop this season is indicated to be about k percent smaller than the 

 extremely heavy crop of last year, but it would still be the second largest crop on 

 record. Prices are expected to continue at relatively high levels during most of the 

 season, probably at or near celling levels. 



The embargoes on marketing turkeys by farmers h- .vebeen removed. 



-0- 

 GLJ:OM 



11-11-1+5 



