

Wx 



RECEIVED 



y *^ Extension Service in Agriculttue and Home Economics 



University of Illinois College of Agriculture, Urbana / \^Q]j g ^q^ 



WEEKLY REVIEW AND FAEM OUTLOOK LETTER / ANIMAl HU.<JP4wnov 



By G. L. Jordan THE ItBHAl^V X 

 Professor, Agricultural Economips 



(Prepared November 9) ''^'"^T^R 1 124B 



Hog prices staged a strong comeback this week, tlie,TtyDprpri|^?j,5^iesda7 reach- 

 ing $ll<-. 65— within ten cents of the ceiling. Average itflcire'^'kHi Chicago were $114-^0, 

 the highest in ten days. A week earlier the aversige was $13.80. This quick and 

 strong recovery seems to Justify the contention of livestock men and economists that 

 ■Dhe current livestock situation is Inherently sound. The demand remains strong, and 

 numbers are suhstantially "below last year. (See Professor Stlce»s special section 

 relating to the hog market.) Steers made a new top since November 1937 at $l8.50 at 

 Chicago . 



• 



For the month of October receipts of salable hogs at 12 public markets were 

 15 percent below October 19^5. Receipts of salable cattle at these 12 markets were 

 15 percent higher for the month of October than a year earlier, and calf receipts were 

 up 5^ percent. The number of feeder and stocker cattle sold at four markets (Chicago, 

 Kansas City, Omaha and St. Paul) during October was 10 percent below the October 19^5 

 figure. However, for the four months July to October, inclusive, sales of feeder and 

 stocker cattle at these four markets were practically unchanged from a year earlier. 



The U, S, Department of Agriculture has summarized its latest feed situation 

 report as follows: Total feed concentrate supplies for the 19^-^5 feeding year, in- 

 cluding feed grains, will be the third largest on record, but will be somewhat smaller 

 in volume than in 19*^5-^^. The supply per animal unit may be about 10 percent larger 

 than in 19^3-*^^ and slightly larger than in 1958-^2, when feed grain reserves were 

 being accumulated. Disappearance of feed grains probably will not be so large in 

 19^^-^5 as in the previous two yeeirs, and reserves 6u:*e expected to be built up from 

 the relatively low level reached at the end of 19^3-^^ • Supplies of by-product feeds 

 probably will be slightly larger in volume and larger per emimal unit in 19^4-45 than 

 a year earlier. Oilseed cake and meal supplies will be slightly smaller. 



The War Food Administration is expected to ask farmers to continue "all-out" 

 food production again in 19^5* The ISW^ food and fiber crop goals are expected to 

 call for 363 million acres, or four million acres more than the acreage planted this 

 year. It is doubtful that there will be any cut recommended in- com acreeige in spite 

 of the fact that hog numbers have been greatly reduced. Wheat acreage has alreeuiy been 

 announced at two million acres above 19^. Probably oats and barley acreage goals will 

 remain about the same. No substantial change is expected for soybean acreage. 



The U, S. Depcirtment of Agriculture forecasts some reduction in prices re- 

 ceived by feurmers. The costs of commodities farmers buy, particularly food for family 

 living and feed for stock, are also expected to decline, but the prices of farm prod- 

 ucts are likely to decline more than costs. This does not mean that a serious depres- 

 sion is likely in the near future. Weaknesses are likely to appear only in prices of 

 commodities which are relatively plentiful. 



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Farmers may now sell their turkeys to whomever they wish. 



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



