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Lard production is also expected to be almost 10 percent greater than in 19^3 > but the 

 government expects a decline in lard output beginning next October because it will be 

 necessary to bring hog numbers into balance with short feed supplies. It is probable 

 that the increase in the production of vegetable oils in 19^5 will not offset a decline 

 in the production of lard. 



Farm income in 19^3 . Cash income from farm marketings for 19^3 is estimated 

 by the U. S. Department of Agriculture at 19,009 million dollars compared with 1^,336 

 million dollars in 19^2. Most of the increase ceime from sales of livestock and live- 

 stock products. Hog sales made sheirp advemces, but there were also increases in 

 poultry and eggs. Income from oil-bearing crops was up 70 percent. Wheat income was 

 13 percent higher in north-central regions. 



Price ceilings on alfalfa hay . The Office of Price Administration is con- 

 sidering ceilings on alfalfa hay but apparently has abandoned earlier intentions to 

 place all hay under ceiling price control anyway soon. The ceiling price on alfalfa 

 hay is expected to reflect full parity computed on a national weighted average basis. 

 It is possible, of course, that when other hay reaches parity level ceiling prices 

 may be fixed on it also. On a national basis the farm price of hay was the lowest of 

 all important farm crops in relation to parity on January 15 > It was 78 percent of 

 parity at that time. 



U. S. Farm prices January 13 . Actual U. S. farm prices as percentages of 

 parity on January 15, 19^^, are listed below: 



Percent of parity Percent of parity 



Apples 169 Oats 115 



Sweet potatoes I36 Veal calves 111 



Turkeys 153 Butterfat 110 



Lambs 126 Corn 105 



Beef cattle 12U Barley 103 



Chickens 12^4- Eggs 100 



Milk, wholesale II7 Wheat 98 



Potatoes , 116 Hay 78 



On December 15, soybean prices were 112 percent of parity. Presumably they 

 didn't change much. 



Between December 15 and January 15, the rise in crop prices were offset by 

 declines in prices of livestock and livestock products, largely because of a sharp 

 decline in prices of eggs. Prices received by farmers averaged II6 percent of parity 

 in January, the same as in December. 



FLJ:SD 

 2lielkh 



