'v' Cooperative Ejctenslon Work in Agriculture and Heme Econcmice 



' , University of Illinoie College of Agriculture, Urbana, Illinois, 



' '33 ^. I and U. S, Department of Agriculture cooperating 



y^^^ 2_ WEEECLY REVIEW AND FARM OUTLOCK LETTTER 



By G, L. Jordan 

 Professor, Agricultural Economics 



University of Illinois jHt i:«t<APY of the 



College of Agriculture 



v\n :.::» ^944 



(Prepared January 2?) 



r'j'V '7>' ■■■■ :"' " ' ^IC' J 



The $15.75 hos support price now applies to weights up to 550 pounds. 



The support price for 19i<-i|- crop soybeans has been announced as $1.9^ for 

 No. 2 yellow beans of high oil content. In other words, the support price is lU cents 

 a bushel higher than last year. There will be premiums and discounts for No. 1 and 

 off -grade beans. The whole project, however, is tied up with and dependent upon the 

 extension of the life of the Commodity Credit Corporation and its finances and powers. 

 This still leaves soybeans at a slight disadvantage when compared to corn in north- 

 central Illinois on the basis of our cost of production figures. 



The War Food Administration announced egg support prices at Chicago for 

 three periods as follows: 



Grade and size 

 U. S. commercial grades Jan. I6 to 29 Jan. 50 to Feb. 12 Feb. 15 to I'ferch h 



A, large 59. 9f^ 58. M 39.6^ 



A, medium 52.9 32,k 52. U 



B, large 56.9 55.1+ ^k.k 

 B, medium ;; 29.9 29.^ 29,k 



Comparable prices were announced for other wholesale grades. Poultrymen 

 will be interested in the wide spread between the prices of the highest and lowest 

 grades. 



The strength of wheat prices dui'lng the past week was attributed partly to 

 increased purchases of flour by the Army for overseas use. Another factor may have 

 been the consideration of a renewal of the subsidy on flour to Cuba, 



The following table Indicates percentage changes in cold storage holdings 

 for the 12 months ending January 1, 19kk: 



Fresh apples -55 percent Butter -+-517 percent Beef ^ +78 percent 



Frozen fruits 421 percent Cheese + 5I4. percent Pork -f h percent 



Frozen vegetables "^80 percent Eggs + 56 percent Total meats-f 25 percent 



Frozen poultry -H 20 percent Lard + 75 percent 



The figures pertaining to butter and cheese are somewhat deceiving because 

 they Include government -owned stocks. The amount of pork in storage is very little 

 larger than a year ago and almost the same as the 1959-^5 average on January 1. The 

 storage situation has not been the principal item contributing to flooded hog markets. 

 The limitations on slaughtering capacity have been much more Important. 



Milk consumption is now at record high levels. It must not increase if an 

 adequate supply of manufactured milk products is to be reached. The goal is to in- 

 crease the number of milk cows by 2 percent and to Increase production per cow by 50 

 pounds. However, the present trend is toward slightly less production than last yeeu:, 



GLJ:sh -0- 



1'21-kk 



