TULLXur Extension Sei^ice in Agriculture and Home Economics 



University of Illinois College of Agriculture, Urbana 



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WEEKLY REVlEJf AND FARM OUTLOOK LETTER 



By G. L. Jordan WE UBRARY OP M 



Professor, Agricultural Economic* ■ -^ -, «q^7 



(Prepared May 25) 



Beef steers made a new high price for the season at Chicago this week. The 

 general consensus of opinion is that fed steers will continue to bring present or higher 

 prices. If present prices hold, it may be that some range cattle will come to the corn- 

 belt feedlots to be given a short feed for late summer marketing. 



All grains are in demand for immediate delivery at approximately ceiling 

 prices. However, substantial weakness has developed in the futures markets for wheat, 

 oats and rye. The demand for all feed grefns is especially strong and is likely to 

 remain strong throughout the summer. 



W, C. Berger, Chief, Feed and Livestock Branch, War Food Administration, out- 

 lined some of the steps that may be necessary to adjust livestock numbers to the avail- 

 able feed supply. He suggested a limitation of the total pig crop to 95 million head 

 for I9H instead of the previous goal of IO5 million- -also the redoubling of efforts 

 to cull laying flocks. We need a downward adjustment in our cattle numbers by slaugh- 

 tering three million more than the number of calves dropped. Professor L. C. Cunning- 

 ham of Cornell University said that the northeastern dairy and poultry farTners are 

 faced with the question of how to meet a feed deficit this sumnier even more serious 

 than the one a year ago. He expects the demand for feed to continue heavy for the re- 

 mainder of this feeding year. 



Milk production on farms in the United States for April was slightly lower 

 than for April l^k'^ and 19^2; otherwise it was the largest April production on record. 



Illinois commercial hatcheries indicate 11 percent fewer eggs set and 12 per- 

 cent fewer chicks hatched during April this year than in April 19^3, according to the 

 Crop Reporting Service. There was also a 69-percent reduction in the number of chicks 

 booked on May 1 compared to the same date a year ago. For the country as a whole, eggs 

 hatched were down I8 percent and chicks booked were down more than 50 percent. 



According to May 1 estimates of the Crop Reporting Service, prospects are gen- 

 erally good for apples, pears, cherries and plums in Illinois this year. 



On the basis of official estimates, the following changes in en5)loyraent are 

 Indicated for the period following the war: reductions in iron and steel, 500,000; 

 machinery, 1,000,000; aircraft, 1,000,000-f; ship building, 1,000, OOOf; chemicals, 

 300,000; auto industry, 250,000; food, 250,000; and government, 5,000,000. Increases 

 in employment probably will be: construction, 2,000,000; trade, 250,000; and finance 

 and services, 200,000. Net decline is close to 7*000,000. The demand for farm prod- 

 ucts is likely to decline as a result of such a reduction in payrolls. 



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Cooperative Extension Work in Agriculture and Home Economics: University of Illinois 



College of Agriculture and the United States Department of Agriculture cooperating. 



H. P. Rusk, Directors. Acts approved by Congress May 8 and June 50, 191**-. 



GLJ:ah 

 5-25-ivl^ 



