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WEEKLY MARKET EEVIEW AUD FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agricult'ore 



(Prepared February 2^1 ) 



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

 from 12:14-8 to 12:^5 p.m., as part of the Illinois Farm Hour, Station WILL, ^30 kilo- 

 cycles.) 



Commodity Prices at Chicago 



Cash M ay futures 



Wednesday (close) 



February 25* 19l^^l^ Week a^o Wednesday Week a/70 



Wheat (No. 2 hard red winter) $1.71 7/8*** $1.71 7/8*** $1.59 l/2 $1.69 5/3 



Corn (No. ^ yellow) l.U J)lh -- --** --** 



Oats (No. 2 mixed) -- — .79 7/8 .79 l/^ 



Butter (92 score) .ij-1* .kl* 



Eggs (current receipts) .52 .32 



Eogs (top price paid) ll+.OO 15.85 



Cattle (top price paid) 17.00 17.00 



Hog- corn ratio, Chicago, 



February 19 11.8 • 11.7 



*Ceiling prices. 

 **Trading in com futuj^es is not permitted. 

 ***Bids--no offers. 



Ho|g: marketings . The peak in weekly hog marketings at Chicaf;0 appears to 

 have occurred January 22. The situation has eased enough at Chicago to do away with 

 the restrictions on shipping that have regulated the hog receipts at Chicago for the 

 past month. The restriction ends Friday, February 25, following an increase in the 

 quota allotted to each firm diu'ing the past week. The niomber of hogs received at 

 Chicago during the week ending February 19 was approximately 150 thousand compared to 

 a peak of almost I67 thousand during the week ending January 22. The average weight 

 declined eleven pounds from 267 to 256 for the most recent month, and the average 

 price increased from $15.15 for the week ending January 22 to $15.62 for the week end- 

 ing February 19. The top price rose to $1^1-. The average price of $15.62 for the werk 

 ending February 19 compares to an average of $15.56 for the corresponding week of 19^5- 



The hog-corn ratio for the United States for January was 11.5 compared to 

 11.9 for the long-time January average. In addition to the unfavorable hog-ccm ratio, 

 the butterfat-feed ratio was also about 7 percent below the long-time January average, 

 and the egg-feed ratio was down almost 25 percent. However, including special sub- 

 sidies to dairy farmers, the milk- feed ratio was slightly above the long-time January 

 average . 



Canada pays premium for hogs . In order to encourage hog production and di- 

 vert more hogs into government- inspected plants from which export supplies are p'lr- 

 chased, Canadian farmers are paid a premium of $5 a head for better grade hogs sold 



