53?. I 



TTjP LI ^ r- Cooperative Extension Work in Agriculture and Home Economics 

 ^ to(7,Aur University of Illinois College of Agriculture, Urbana, Illinois, 



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i'^'^ and U. S, Department of Agriculture cooperating 



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WEEKLY REVIEW AND FARM OUTLOOK LETTER 



By G. L. Jordan '"! ^q 10-7^ 



Professor, Agricultural Economics • - ■ t ,^^ 



University of Illinois — •• •• ■- - 'i 

 College of Agriculture 



(March I6, 19^^^) 



For the week ending March 11, receipts of hogs at Chicago were less than 

 125^000 compared to 156,000 the previous week and 168,000 two weeks earlier. The top 

 price was $1^,20 and the average cost was estimated at $13.83, a rise of 29 cents for 

 the week. 



The U. S. Department of Agriculture estimates that the supply of meat avail- 

 able for cf.Tilian use in the April- June quarter of 19^^ will "be at least as large as 

 supplies in the second quarter of 19^3. 



In spite of some relief caused by the open weather during much of the 

 winter, the demand for feed grains during the 19^3-^^ feeding year as a whole is ex- 

 pected to exceed that of any previous year. Livestock numbers on farms January 1 

 were at an all-time high. It is expected that they will decline, but the downward 

 adjustment in cattle numbers might be delayed by favorable pasture and range condi- 

 tions. The U. S. Department of Agriculture estimates that there are sufficient quan- 

 tities of feed grains on hand for the country as a whole to carry through the present 

 feeding year, but that the carryover at the beginning of the next feeding year will 

 be the smallest since 1937. 



The supply of com in terminal markets is so small that grain trade repre- 

 sentatives will confer with officials in Washington on the matter of having a fraction 

 of the com received at elevators set aside for the government for the use of essen- 

 tial processors. Farmers have inquired if it is likely that the government would req- 

 uisition com from farmers. I doubt if that will be necessary. 



If the disappearance of oats should continue at the present rate, stocks at 

 the end of the season will be reduced to about the lowest level since the drouth years 

 of 195^-1935 and 1936-1937. During a ten-year period, 1932-19^1, February average 

 price at Chicago for 100 pounds of No. 3 white oats was about 5 cents more than for IOC 

 pounds of No. 3 yellow com. In February this year, the average price of 100 pounds 

 of oats was ^7 cents more than com. 



The U. S. Department of Agriculture estimates that the number cf early lambs 

 in the principal producing states will be about 6 percent smaller this year than last, 

 and the smallest number in the past eight years. Part of the decrease in marketings 

 of early lambs before July 1 may be offset by a large movement of grass -fat yearling 

 lambs and wethers from Texas. 



The largest supply of seed potatoes in history is now available for spring 

 planting, according to the War Food Administration. 



Lumber consumption exceeded production by more than k billion board feet in 

 19^3 > according to the War Production Board. The gap between consumption and produc- 

 tion has necessitated heavy withdrawals from mill, wholesale, and retail stocks. 



