33^,1 Extension Service in Agriculture and Home Economics 



T/Cd^ur University of Illinois College of Agriculture, Urbana 



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WEEKLY REVIEW AND FAEM OUTLOOK LETTER 



By G, L, Jordan 

 Professor, Agricultural Economics 



(Prepared June 15) ^^ ^'i-Vv.,^ ,; .,., 





Hog receipts continue to "be rather erratic. The carry-over at the end of 

 "business Tuesday was about lfO,000 at principal markets compared to 58,000 a week 

 earlier. Packers under federal inspection at 32 markets "butchered the smallest 

 number of hogs last week, barring holiday periods, since last October, Last week's 

 total hog slaughter was only 7 percent greater than for the same week in I9U3. 



For the four months January to April V^W compared with comparable months 

 in I9I15, milk production for the United States was up slightly; egg production up 

 about 9 percent; beef production up about I6 percent; lamb and mutton up about 3 per- 

 cent; and pork and lard up about ^^7 percent. 



The ratio between prices of hogs and corn in May was below the long-time [ 

 May average. The butterfat-feed ratio and the milk-feed ratio were both higher than 

 the long-time average, but the egg-feed ratio was down l^f pDrcent. 



The percentage changes from last year in storage holdings for the important 

 commodities as of June 1 were as follows: Apples, -50 percent; butter, -I6 percent; 

 frozen fruit, +20 percent; pork, -t-U8 percent; total meats, *65 percent; choose, +67 

 percent; frozen vegetables, +7U percent; beef, +172 percent; lard, +I90 percent; and 

 frozen poultry, +lt8U percent. Lard stocks were the highest in 20 years. 



The U, S. Department of Agriculture suggests that some meats may return to 

 the ration list in the not too distant future. The scarcer articles seom to bo the 

 better qualities and choice cuts of boef, ham. and sliced bacon. 



Tho Bouse of Roprosontatives has approved a fund of $12^ million for incen- 

 tive payments for tho harvesting of 5oeds of grasses and legumes. 



James F. Byrnes, War Mobilization Director, said that 10 thousand surplus 

 army trucks and an unstated amount of surplus agricultural machinery now at army de- 

 pots are ready for disposal to farmers under allocations to be based on Information 

 obtained by state and county Agricultural Adjustment Administration committees, 



Claude Wickard, Secretary of Agriculture, said that peacetime farm produc- 

 tion of 50 percent more than preweir levels is a decided possibility and may pose a 

 serious surplus problem. 



Chester Bowles, Price Administrator, asked industry to price its postwar 

 output low enough to tap mass markets. He indicated that it is only these markets 

 that keep our vast production capacity in operation and that unless Industry follows 1 

 this policy vigorously there is little prospect of maintaining a high level of na- 

 tional income. 



Leonard Spangenberg, vice president of Babson's Reports, said June 19 that 

 history *s worst depression is scheduled for 1950. He predicted excellent business 

 for throe or four years after the war. 



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Cooporative Extension Work in Agriculture and Home Economics; University of Illinois 



College of Agriculture and the United States Department of Agriculture cooperating 



H. P. Rusk, Director. Acts approved by Congress May 8 and June 50, 191^. 



GLJ:sh 



