WEEKLY MAEKET REVI©/ AND FAEM OUTLOOK 



By G. L, Jordan 

 j Profeeeor, Agricultural Economics 



(Prepared June 22) 



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

 frcm 12:1^8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Coaanodity Prices at Chicago 



Cash 



Wednesday 

 June 21. 19^U 



September futures 

 (close) 



Week ago Wednesday 



V^'eek afeo 



Wheat (No. 2 hard red winter) 

 Com (No, 2 yellow) 

 Oats (No. 2 white) 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle (top price paid) 

 Hog-corn ratio, Chicago, 

 June 17 



$1.6l*** 

 1.16*** 



13.75**^ 

 17.60 



10.8 



$1.63*** 

 I.l6*** 



mm am 



.30I-.3I1 

 13.75**** 

 17.60 



10.9 



$1.56i 

 .69 1/8 



$1.57i 

 .69i 



♦Ceiling prices. 

 **Trading in corn futures is not permitted. 

 ***Quotations, old crop. No cash sales. 

 ****Oovernment support price. 



Hogs . Hog receipts continue to be rather erratic. There wore light sup- 

 plies at seven principal markets Monday, but a rather heavy run Tuesday. Receipts 

 Wednesday were the lightest for any Wednesday since May 3. The carry-over at the end 

 of business Tuesday was about 40,000 at these markets compared to 58,000 a week 

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

 of hogs laot week, barring holiday periods, since last October. Last week's total hog 

 slaughter was only 7 percent greater than for the same week in 19^3.. 



2g£s. Most recent reports indlcato that the egg situation ie clearing up 

 scmewhat and that not as many eggs will have to be used for nonfood purposes as was 

 originally anticipated. In order to encourage further expansion in food usee of eggs, 

 the Office of Price Administration has announced an allotment of sugar for manufac- 

 turers who will increase their use of eggs in food products. The maximum sugar in- 

 crease is 5 percent of I9UI use. 



Production of animal products . For the four months January to i^pril 19i4-U 

 compared with comparable months in 19J^3, milk production for the United States was up 

 slightly; ogg production up about 9 percent; boof production up about I6 percent; 

 lamb and mutton up about 3 percent; and pork and lard up about 47 percent. 



For the month of May the ratio between prices of hogs and com was below 

 the lonc-time 14ay average. The butterfat-feed ratio and the milk-feed ratio vere 

 both higher than the long-time average, but the egg-feed ratio was down drastically- - 

 Ik percent. The unfavorable relationship between feed prices and both hogs and egge 

 is due to the exceptionally heavy marketing of both. On April 1 the number of laying 



