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WEEKLY MARKET REVTEW MP FARM OUTLOOK 



By G, L. Jordan 

 Professor, Agricultural Economics 

 University of Illinois 

 College of Agriculture 



(Prepared March l6) 



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

 from 12:kQ to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Commodity Prices at Chicago 



Wheat (No, 2 hard red winter") 

 Com (No, 5 yellow) 

 Oats (No. 2 mixed) 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle (top price paid) 

 Hog-corn ratio, Chicago, 

 March 11 



12.0 



11.7 



♦Celling prices. 

 **Trading in com futures is not permitted. 

 ***Bids— no offers. 



Hog receipts decline, prices rise . For the week ending Meirch 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 esti- 

 mated at $15.85, a rise of 29 cents for the week. Monday, March I5, the average cost 

 was estimated at $ll+.00, which would be the highest since November 5. Part of this 

 increase in prices has been attributed to the easing of pork rations; part of it to 

 the decline in receipts. 



Future meat supplies . The U, S. Department of Agriculture estimates that 

 the supply of meat available for civilian use in the April-June quarter of 19^^ will 

 be less than the supply in the Janusiry-March quarter, but will be at least as large 

 as supplies in the second quarter of I9U5. Meat production is expected to decline 

 seasonally but remain larger than the year earlier during the second quarter. Large 

 stocks of meat have accumulated in cold storage warehouses and will move out of 

 storage in the spring and summer. That will partly offset the seasonal decline in 

 production. Production for lend-lease will also decline as slaughter declines. It 

 is expected that the average weight of hogs marketed will be lower in 19^^ than in 

 19^5. The average weight of all hogs slaughtered under federal inspection in 19^5 

 was 255 pounds, 8 pounds heavier than the average weight in 19^2 and much heavier 

 than nonnal, 



Demand strong for feed grains . In spite of some relief caused by the open 

 weather during much of the winter, the demand for feed grains during the l^k^-kk 

 feeding year as a whole is expected to exceed that of any previous year. Livestock 



