WEEKLY MARKET REVIEW AND FARM OUTLOCK 



By G, L, Jordan * 



Professor, Agricultural Economics 



(Proparod July 6) 



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

 from 12:14-8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



^Ceiling prices. 

 ■''-^Trading in com futures is not permitted. 

 *** Quotations. No cash sales, 

 ****Govemment support price. 



Grain prices . Wheat prices have declined during the past week largely as a 

 result of optimism concerning tho now wheat crop and the feeling that nothing very 

 definite will be done in the near future by tho administration in the way of carrying 

 out tho provision of tho price control bill that orders the President to use all law- 

 ful moans to obtain parity prices. There was a sharp recovery Wednesday caused by 

 government buying of wheat. The govornmont will buy at not more than six cents above 

 the loan price of wheat stored in warehouses. Several cars of cash wheat were sold at 

 Chicago this week. 



Although certain areas in northeastern Illinois have been seriously damaged 

 by too much rainfall, some areas in southern Illinois are suffering from , drouth, and 

 chinch bugs are pretty bad over most of the commercial corn-belt area from the 

 Hoopeston-Peoria line south, corn has made good progress during the past few weeks. 

 Mosl^ of the com belt could stand a little more rainfall at the present time, but the 

 need is not particularly urgent. 



Hog prices rising . During the last few days of Juno there was a sharp rise 

 in tho prices of nongovernment -weight hogs at Chicago, That was followed by a high 

 of $15.85 Monday, July 3, tho first time since April that hogs at Chicago sold above 

 the support price. It is the general consensus of opinion that hog prices are on the 

 up-grade and will continue to improve. 



Livestock receipts . For the month of June the outstanding development in 

 the movement of livestock to market pertained to calves. Calf receipts were 65 per- 

 cent above June receipts of 19'4'5 at 12 public markets. In May they were up 52 per- 

 cent. On the othor hand, receipts of hogs at these markets in June were only Ik 



