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Hog -prices up . As a result of the reduction in receipts caused by the 

 severe snow storm, top prices of hogs rose above the support level for the first time 

 for many weeks. A top of $1^+ was obtained at Chicago Tuesday. This is an indication 

 of what will happen as soon as hog marketings slacken. 



Feed piralns ♦ Commercial interests are beginning to wonder how the seasonal 

 increase in hog price which is likely to develop will affect farmers' willingness to 

 sell corn. Prior to the snow storm, farmers were marketing their corn more freely. 

 Presumably one of the reasons was the decline in the hog-corn ratio. Farmers have 

 become quite discouraged concerning the prospects for profits from feeding com to 

 hogs and are planning to liquidate their hogs rather rapidly in many cases. If the 

 price of hogs rises to $li<-.7>; the present celling, the hog-corn ratio will be quite 

 favorable, and it will be mjore profitable to feed hogs than to sell corn at present 

 ceiling prices. We shall not have any substantial carry-over of com, and we don't 

 know what the weather will be during the summer months. Under these circumstances, 

 farmers may follow their usual conservative practice of retaining enough corn on the 

 farm to provide enough feed for livestock on hand. 



Cloverseed . The cloverseed situation is confusing. There is a particularly 

 serious need for legume seeds in the northeast dairy production area of the country 

 where farmers normally depend on outside sources for their seed. However in some seed- 

 producing areas of the country, reports indicate that farmers are holding seed back 

 for 19^5 plantings. The War Food Administration indicates that all of the available 

 red clover seed supply must be used this year if vital war goals are to be met. That 

 means that carrying a reserve for 19^5 seedings will be frowned upon. 



The egg situation . In another section of this report, Professor Stice has 

 discussed the egg situation. It is anticipated that with larger laying flocks con- 

 sisting Of a record-high proportion of pullets and stock of improved laying qualities 

 generally, egg production in the first half of Y)hh probably will exceed production in 

 the same period last year. But egg production may decline more than seasonally in the 

 second half of the year \mless the outlook for feed crops is especially favorable at 

 that time. Per capita civilian egg production is likely to roach a new high record 

 level. Under these circumstances and the fact that meat supplies will become scarcer 

 in the months ahead, eggs will become one of our cheapest high- quantity foods of 

 animal origin. We can consider ourselves especially fortunate when we recall that the 

 winter shell egg ration in England was one egg per month per person. 



Meat supplies in 194- K Although the total meat output of V^hh may reach 

 2^ billion pounds dressed weight, or an Increase of 8 percent over 19^3, civiliamwill 

 probably receive about the same amount of meat per capita as they received in 19^3- 

 The increase will be absorbed by military services and exports. The War Food Adminis- 

 tration is setting up a contingency reserve to meet emergency requirements. If the 

 war should take a more favorable turn, part of this reserve could be allocated to 

 civilians. In that case, the civilian consumption would exceed 19^+3. The outlook for 

 19^+5 slaughter, based upon farmers' intentions to raise hogs and feed cattle is not so 

 bright. But in V^'^h the number of animals slaughtered is likely to be increased by 

 moderate liquidation of breeding herds. 



^^ Fats and oils . The U. S. Department of Agricultiu-e predicts a peak produc- 



^y tion of fats and oils from domestic materials in 19^U. The substantial increase in 

 vegetable oil production of V^hh is anticipated as a result of increases in flaxseed, 

 soybeans, and peanuts in 19^3 and the probability of large crops again this year. 



