WEEKLY MAEKET REVIEW AND FARM OUTLOOK 



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By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared March 22) 



(Highlights 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, 580 kilo- 

 cycles.) 



Cominodity Prices at Chica^^o 



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 

 March 17 



Cash 



Wednesday 

 March 21, 19^5 



$1.75 7/8** 



1.17 lA** 



.82»* 



M* 



.525 

 lU.75* 

 17.60 



12.8 



Week ago 



$ 1.75 7/8** 



1.17 lA** 



.02** 



M* 



.325 

 1^^.75* 

 17.50 



12.8 



May futures 

 (close) 

 Wednesday Week a;y? 



$1.69 1/8 $1.72 

 1.12 1/2 1.15 1/2 

 .65 1/2 .67 1/2 



♦Ceiling prices. 

 **Nominal. No cash sales. 



The past week has been characterized by statements by government officials 

 emphasizing that further restrictions on domestic consumption of meats and some other 

 food items may be expected, and. by strong demeuids for all classes of livestock and 

 ceiling prices for most high-quality grains. High moisture corn sold at a discount of 

 one to two cents a bushel below ceilings for the grade. Grain futures have fluctuated, 

 being influenced by strong cash grain prices on the one hand and the possibility of an 

 early ending of the Eiiropean war on the other. The heavy discounts for the more dis- 

 tant futures suggest lower prices later in the summer. 



Farmers Intend to plant less grain . According to March 1 intentions of 

 farmers, the total 19^5 plantings of feed grains--com, oats, barley, auid grain sor- 

 ghums--will be about 17I million acres, or about 2 percent below the 19^4 acreage. 

 Planting intentions for all feed grains were under the 19^4 figures with the exception 

 of oats. An 8 percent increase in oats acreage is planned, a new record and 2 percent 

 larger than the previous record of oats acreage set in 1952. Com acreage will be 

 about 5 million acres lower than in 19^4. Plantings of barley and grain sorghums will 

 be about 2 million acres lower. Only in the case of oats will the 19^5 goals be met, 

 according to these estimates. The greatest increase in acreage is for flaxseed, al- 

 most 57 percent. The national acreage of soybeans grown for all purposes is down 2,k 

 percent below 19^4. Barley acreage is down ih percent, but there is practically no 

 change in hay. 



The reduction in livestock nimibers, the uncertainty concerning the duration 

 of the war and prices following the war, and the need to get more clover into rotation 

 were the factors that were cited as influencing farmers' intentions this year. 



