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WEEKLY MAHCET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared Deceiaber 7) 



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

 from 12:48 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles*) 



With the winter movement of hogs well under way, top prices at Chicago 

 dropped below i>lk Monday, December h, for the first time since July 19. The top was 

 $13.90, only 10 cents above the average price of $13.80. There was only a small 

 spread between the prices i^ceived for v8u:*ious weights: l^-»l60 poimd light hogs sold 

 at $13 to $13.50; 170-190 pounds at $13.65 to $13.85, while heavy hogs from 200 to 350 

 pounds sold at $13.80 to $13.90. Most 30O-60O pound sows sold at $13.65 to $13.75. 

 Tuesday hog prices recovered about 10 cents. 



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 probably were strengthened slightly by the purchase by the gov- 

 ernment of 800,000 bushels of com for shipment to the United Kingdom under lend- 

 lease. Although this is an insignificant fraction of our total supply, the government 

 purchased com at ceilj.ng prices, and it does have a bullish effect. During the past 

 week the government also authorized distillers to purchase unlimited supplies of high- 

 moisture ccrn for the manufacture of industrial alcohol. Although it does not specify 

 exactly whe.t high-moisture com consists of, the trade presumes this to be com show- 

 ing more than 23 percent moisture. This may help relieve the congested market for 

 high-moisture com, but it will also reduce the distillers* demand for substitute 

 grains. The longer time outlook for com prices is affected by the fact that we have 

 a very large com crop and that livestock numbers have been reduced somewhat. 



^^P 19^ 4-5 po r k supply redu ced. The War Food Administration eetimates that the 

 pork supply for the nation in 19^5 will be from 15 to 20 percent less than this year 

 «\E a result of a letrge reduction in the number of hogs. With the increase in 



