-2- 



^j^ the period of October to January, Inclusive, they vere up ^7 percent, and for the 

 ^^ week ending February 5 vere up ll8 percent. The average weight of barrows and gilts 



at Chicago In January was 2^2 pounds ccopared to 2^5 pounds a year earlier. This 



year they brought $13.51 compared to $lU.85 last year. 



Cattle receipts for January were 27 percent higher than a ypar earlier at 

 these 12 markets. For December and January cooiblned, they were up 25 percent. Calf 

 receipts are beginning to show phencmenonal Increases also. For January, they were 

 up 37 percent ccmpared to January 19*^3, and for the week ending February 5, vere up 38 

 percent. All of this seems to Indicate that the confidence of livestock men In the 

 outlook has weakened considerably. Inasmuch as the cattle man has little protection 

 as far as government supports are concerned, this attitude can be well understood, 

 particularly In light of the optimistic statements we have heard concerning the pos- 

 sibility of terminating the European phase of the war In 19Mf, Before extending live- 

 stock liquidation too far, farmers should remember that the war Is not over and may 

 not be over as soon as we might hope and that the demand for meat and animal products 

 will probably remain at a very high level for some time after the war Is over. 



Protein meal . The War Food Aclmini strati on has placed definite limitations 

 on the use of protein meal In mixed feed. Manufactxarers are permitted to use in 19^^ 

 only as much as they used during the corresponding quarter of 19^2 and 19^3, or 30 

 percent of the average used during I9U2 and 19'»-3, whichever is greater. This action 

 was taken to prociote the equitable distribution of protein meal among the various in- 

 terested parties. For the year 19^^^ total consumption of protein meal by mixed feed 

 manufacturers muet not exceed the average quemtity used during the calendar yeeirs of 

 19^2 and 19if3, 



Dairy subsidy continued . The War Food ' Administration announced the continu- 

 ation of dairy production payments up to February 17 at the same basic rate as those 

 in effect for January. If the Congress continues the Cotmodity Credit Corporation 

 without limitations preventing dairy production payments, it is expected that the 

 rates for the remainder of February and for March and April will be adjusted to take 

 into account increases in feed and other costs since the original rates were estab- 

 lished last October. However, as pastures becane available and more productive, the 

 general dairy payments will probably be adjusted to a seasonally lower rate followed 

 by seasonally higher rates next fall and winter. These payments eire contingent upon 

 the extension of the life of the Ccmmodity Credit Corporation without restrictions in 

 this respect. However^ If the Cconaodlty Credit Corporation were not permitted to 

 finance these payments, it would undoubtedly be necessary to permit an increase In 

 the celling prices of dairy products in order to reimburse the farmer for the in- 

 creased costs, 



Broomcom ceilings . The Office of Price Administration has announced that 

 broomcom ceiling prices for the 19^1^ crop will be those established for the I9U3 crop, 

 namely, $300 a ton for- "shed-cinred" broomcom and $250> a ton for all other broom com, 

 f ,o.b, farm, warehouse, or other point where the broomcom is loaded on any conveyance 

 for shipment from the producer to the purchaser. 



Tractor outlook brighter . The Vfisur Production Board has announced that the 

 tractor manufacturers » schedules are being met and that the prospects for the full 

 ccmple*tion of the 19^^ farm tractor production program have brightened. They express 

 some concern, however, of the possibility of obtaining rubber tires for these tractors 

 and fear that the use of seme of the completed tractors might be delayed because of 

 the inability to get these large-sized rubber tires. 



