^ ♦ ^ Extensloa Serrlee In A^prlculture at^ Hoii» Ecancnlce RECEIVED 



Unlveraity of Illli»ia College of Agriculture, tftrbans 



-. DEC 8 1944 



|H WEEKLY REVIEW AM) PARK OUTDDOK LETTER . y^ 



By 0. L, Jordan U^ /" 



iProfesow, Agricultural EcooomicilHH I! BHin^^^ 

 (Papepared Deceniber 7) 



/ ' • APR 10 1245 



'. ' 



With the winter nwrenent of hogs well under vay^.1}pfi;j»ftQ^I»Ai PPSlcago 

 diropped below $1^ Monday, i)ecember*4, for the first time since July 19. The top was 

 $13.90, only 10 cents above the average price of $13 •80. There was fjnly a small 

 spread between the prices received for various weights* 



All grains were especially strong during the past week. Wheat prices were 

 up about two cents, com up one cent, and oats up one cent or more. Com prices prob- 

 ably were strengthened slightly by the purchase by the government of 800,000 bushels 

 of com for shipment to the United Kingdom under lend-lease. The government purchased 

 the com at ceiling prices. The longer tine outlook for com prtces is affected by 

 the fact that we have a very large com crop and that livestock numbers have been re- 

 duced somewhat. 



The War Food Administration estimates that the i>ork supply for the nation in 

 19^5 will be from I5 to 20 percent less than this year as a result of a large reduc- 

 tion in the number of hogs. With the increase in marketings during December and Janu- 

 ary, a somewhat larger civilian supply of pork chops and some other cuts will be 

 available to civilians, but no appreciable ingjrovement in the quantity of ba^on for 

 civilians is expected before next February or March because of the time required for 

 curing. 



Taking all meats into consideration, some form of raticniing or other restric- 

 tions on civilian consumption of better grades of meats may be maintained throughout 

 1^^5 and possibly into 19^6, even if the war with Gemany should end early in the 

 year. If the war in Europe continues through 19^5^ the per capita supply of neat for 

 civilians will be about 123 pounds next yecur compared with 132 pounds if Gemany is 

 defeated within the next few months, and with li*■i^ pounds consumed in 19^. In order 

 to take care of the armed forces, the government has recently raised the quantity of 

 both beef and pork which packers are requiired to set aside for government purchase. 



For the United States actual prices received by farmers as a percentage of 

 parity or cang>arable prices on November 15 are listed in oznier: 



\ 



All farm products 115 



The U. S, Department of Agriculture estimates that prices received by dairy 

 farmers will decline less than seasonally from December through March and will prob- 

 ably average about the same as a year earlier. However, returns to dairy farmers will 

 be at the highest level ever reported for that period as a result of the higher dairy 

 production payments. Milk- and butterfat-feed price ratios will be more favorable 

 than other inqxjrtant live stock- feed price ratios. 



-0- 



^ooperative Extension Work in Agriculture and Hoiae Economics: University of Illinois 



College of Agriculture and the Utiited States Department of Agriculture cooperatlrig. 



H, P, Rusk, Director. Acta approved by Congress May 8 and June 30, 191^ 



