WEEKLY MAEKET REVIEW AND FARM OUTLOOK 



By G. L, Jordan 

 Professor, AgricultursLl Economics 



(Prepared November 9) 



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

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

 cycles.) 



Ccamnodlty Prices at Chicago 



Cash 



Wednesday 



November 8. 19^U Week ago 



Wheat (No. 2 red) 

 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, 

 'Noveniber k i 



$ l.Tlu** 

 1.155 

 .68** 

 .hi* 

 M'M 

 1I+.50 

 18.50 



12.5 



$ 1.70** 

 1.16 



.67** 

 .1^1* 

 .1^1-. M^ 

 111. 00 

 I8.J+O 



12.8 



December futures 

 (close) 



WednesdajT 



$1.64 



1.09t 

 .61^ 7/8 



Week ago 



$1.62 5/8 



1.08 5/8 



.63 1/8 



♦Celling prices. 

 **Quotatlons . No cash sales. 



Hog prices staged a strong comeback this week, the top price Tuesday reaching 

 $ll4-.65 — within ten cents of the celling. Average prices at Chicago were $ll4-,l»-0, the 

 highest in ten days. A week ec^ller the average was $15.80. This quick and strong 

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

 rent livestock situation is inherently sound. The demand remains strong, and numbers 

 sire substantially below last year. (See Professor Sties' s special section relating to 

 the hog market). 



The cattle market has remained fairly steady, but a new top since November 

 1937 at $18.50 was paid Wednesday, November 8, at Chicago. This price was paid for 

 two loads of highly finished 1,020- and l,0lf7-pound yearlings. Lamb prices have also 

 been steady, with the top quotation on native laabs in Chicago at $llf.lK). Western 

 lambs brou^t $llf.0O. 



Livestock receipts . For the month of October, receipts of salable hogs at 

 12 public markets were 15 percent below October 19^3. At Chicago the average weight of 

 barrows and gilts was 226 pounds COTipared to 233 pounds in October 19^3. The average 

 cost to packers this year was $11^.62 conqjared to $ll<-.66 last year. 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 ^h percent. The number of feeder and stocker cat- 

 tle sold at four markets (Chicago, Kansas City, Omaha and St. Paul) during October was 

 16 percent below the October 191^3 figure. However, for the four months July to Octobei) 

 inclusive, sales of feeder and stocker cattle at these four markets were practically 

 unchanged from a year earlier. Receipts of salable sheep at 12 markets were 11 percent 

 below October 19^3. 



