WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



• (Prepared November 11) 



(Highlights of the Weekly Market Review and Farm Outlook are "broadcast each Friday 

 from 12:1+8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 580 

 kilocycles.) 



Commodity Prices at Chicago 



*Ceiling prices 

 **Trading in com futures is not permitted 



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

 Chicago, the government support price. Receipts were 36,000. Packers already had an 

 oversupply 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 

 associations are voluntarily holding up shipments pending calls from terminal markets . 

 A system of government permits may be necessary to assure orderly marketing and maxi- 

 mum prices to farmers. 



Feed grains . Doctor D. A. Fitzgerald, Deputy Director of Food Production, 

 discussed the feed concentrate situation before a recent meeting of the New England 

 feedmen. He said: 



"Twenty-eight percent more feed concentrates were fed in '1+2 -'1+3 than in 

 ' 1+1- * 1+2, whereas the increase in livestock production was less than 15 percent... 

 The quantity of feed- -three -fourths of a ton--used to produce a unit of livestock 

 products in 19I+2-I+3 was the largest since 1950. The nearest approach to this was in 

 1932-53 when feed was wastefully used because the supply was abundant and the prices 

 extremely low. There was a time, as in 1931+-35; when a half a ton of concentrates 

 produced as much of livestock products as three -fourths of a ton produced in 'l+2-*l+3... 

 We believe that by efficient use of the available feed supply, and reasonable success 

 in distributing it, we can attain our production goaJ.s for I9I+I+." 



The disappearance of all feed grain, including wheat and rye, was 55 percent 

 greater from July to September this year than last. Nearly three times as much wheat 

 was fed to livestock in the year ending this September as a year earlier, with the 



