^ 



WEEKLY MARKET REVIEW AND FAEM OUTLOOK 



By G. L. Jordan 

 Professor, A^ricultaral Economics 

 University of Illinois 

 College of Agriculture 



(Prepared January 6) 



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

 from 12:h8 to 12;55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O 

 kilocycles.) 



Commodity Prices at Chicago 



Cash 



Wednesday 

 January ^, 19^^ 



May futures 



(close) 



Week affo Wednesday 



Week aAO 



Wheat (No. 2 hard red winter) 

 Corn (No. 5 yellow) 

 Oats (r^. 2 white) ^ 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle .(top price paid) 

 Hog-corn ratio, Chicago, 

 January 1 



$ 



11.6 



$ 



11. U 



$ 1.71 3/8 $ 1.67 lA 

 __ ** __ ** 



.79 5/8 .77 1/2 



♦Ceiling prices 

 **Trading in corn futures is not permitted 



Hogg continue to flood markets . The congestion in the hog trade exceeds 

 all previous records. Tuesday there were about 2,200 unsold at Chicago. Under these 

 circumstances, heavy discounts continue to he taken on light weights. Most good 1^0- 

 to 160 ■ pound hogs sold at $10.60 to $11.85. On the other hand heavy weights rang:ing 

 from 525 to 575 pounds sold at $12.65 to $13.00. Even U25- to 500-pound smooth sows 

 sold at $12 to $12.15, considerably above the price paid for light weights. Soldiers 

 from Fort Sheridan were brought into Chicago packing plants and cold storage houses 

 to help handle the huge meat supply. The soldiers were given work furloughs and were 

 paid at prevailing wage scales. 



The government has announced that the hog support price, as recently 

 adjusted for the various markets, will continue until further notice. No change has 

 been made recently in the support prices at Chicago, Indianapolis, or East St. Louis, 

 They were raised at Louisville and lowered in some western markets during the past 

 week . 



vr 



E££s. The egg market has suffered from heavy receipts and a temporary with- 

 drawal "f government purchases. The situation has been partially corrected by the 

 re-entry of the government into the market for the purchase of eggs for drying. This 

 does not mean that eggs will reach the ceiling level during the coming weeks, although 

 that could be a possibility. The drop in egg prices illustrates how inelastic the 



