WEEKLY MASKET REVIEW MD FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural EconomlcG 

 University of Illinois 

 College of Agriculture 



(Prepared November l8) 



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

 from 12:if8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 530 

 kilocycles. ) 



Commodity Prices at Chicago 



*Ceiling prices 

 ^■^rading in corn futures is not permitted 



Grain prices strengthened during the past week. The new corn loan rate 

 announcement has "been delayed, presumably pending a decision concerning the ceiling 

 price on the 19^3 corn crop. The loan rate will have to be announced before Decem- 

 ber 1. The best guess is that it will be 85 percent of the November 15 parity price 

 of corn. 



^ 



Ho£s. Hog marketings continue heavy, but there is less congestion in 

 terminal markets than last week. Good and choice barrows and gilts bring the govern- 

 ment's support price of $13.75 for the 200 to 270 pound weights. However, shippers 

 of light hogs received considerably lower prices. When the government asked farmers 

 to market their hogs at lighter average weights, that didn't mean to send in hogs 

 weighing less than 200 pounds. The average weight of barrows and gilts received at 

 Chicago during October was 253 pounds. If this were reduced to 220 pounds, it would 

 show considerable improvement. The desirable procedure would seem tc be to sell your 

 hogs as they reach a desirable finish and weigh in excess of 200 pounds, providing 

 the terminal markets can handle them. There is a heavier discount on hogs weighing 

 under 180 pounds than there is on hogs of the same grade weighing above 3^0 pounds. 

 Tuesday, November 16, good and choice barrows and gilts, weighing from 3OO to 330 

 pounds, brought $13.50 to $13.70, but good and choice barrows and gilts, weighing 

 from 160 to 180 pounds, brought only $12.50 to $15.25. The:re often was no reliable 

 outlet for pigs under I30 pounds, Marvin Jones, War Food Administrator, has requested 

 lower point values for pork and enforcement of the $15.75 floor at all major markets. 



