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WEEKLY MARKET REVIEW AND FARM OUTLOOK 



3y G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared August 9) 



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

 from 12:li.8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Cammodlty Prices at Chicago 



Wheat (No. 2 red) 

 Corn (No. 2 yellow) 

 Oats (No. 2 white) 

 Butter (92 score) 

 Eggs (current receipts) 

 Hogs (top price paid) 

 Cattle (top price paid) 

 Hog-oom ratio, Chicago, 

 August k 



Wednesday 



Au^^ruat 8, 19U5 Week ago 



$1.67 3 A 

 1.18 1/2* 

 .66 1A..67 

 .kl* 

 .361* 



1^^.75* 

 18.00* 



12.2 



$1.68 1/2 

 1.18 l/2^Hi 

 .69 3A-.70 



M* 



.556* 



1^-75* 

 18.00* 



12.2 



)er futu^B 



(close) 

 Wednesday 



Week ago 



^Celling prices. 

 **Nomlnal. No cash sales. 



Not all of the repercussions from the use of the atomic "bomb and Russia's 

 stand were felt in Japan. Prices on the commodity and security exchanges dropped in 

 anticipation of an earlier ending of the war. Most commentators seem to think that 

 the country is not prepared for a shift from military to civillaLn Industrial produc- 

 tion in the immediate future and that unemployment would rise temporarily to several 

 million in case of immediate cessation of hostilities. A collapse in industrial 

 employment and payrolls would affect prices of farm products in spite of possible 

 heavy exports for relief purposes. The domestic demand for all sorts of livestock 

 products is especially strong, "but com futures are selling "below ceiling and the egg 

 market is unsettled. Most people do not realize how much farm output has increased 

 during the war period and the extent to which prices have "been supported "by payrolls 

 in war industries and military requirements. I am of the opinlMi that prices of farm 

 products have reached their peak and that the next trend will be downward. 



Livestock marketings . The numbers of salable hogs, cattle, calves and sheep 

 received at 12 public markets during July were considerably lower than a year earlier. 

 Salable hog receipts were down 58 percent, calf receipts were down 19 percent, cattle 

 receipts down h percent and receipts of salable sheep and lambs were down I9 percent. 

 The 58 percent drop in numbers of salable hogs does not reflect the actual situation, 

 as packers have attempted to buy a larger number direct from the country. Then, too, 

 hog weights reached the heaviest on record last week. For the week ending August k, 

 the average weight of barrows and gilts received at Chicago was 28^1 pounds. At 

 St. Paul the average was 329 pounds. For the month of July, the average weight at 

 Chicago this year was 278 pounds compared to 2Ul pounds a year ago. At St. Paul the 

 July average this year was 5C6 pounds ccmpared to 229 pounds a year ago. The number 

 of stocker and feeder cattle and calves received in the corn-belt states in June was 

 7 percent above receipts in June 19^^. On the other hand, receipts of stocker and 

 feeder sheep and lainbs were down k2 percent. 



