

Extension Service in Agriculture and Home Economics 

 University of Illinois College of Agriculture, Urbeuia 



WEEKLY REVIEW AMD FARM OUTLOOK LETTER 



By G, L. Jordan 

 Professor, Agricultural Economics. 

 (Prepared August 50) N^'> 



Corn and oats are in active demand at steady to firm prices. Com receipts 

 are far below the needs of the trade, euid ceiling prices are offered. The movement of 

 corn to market has "been so light that the northeastern feed men have appealed to the 

 Commodity Credit Corporation to channel some of its government- owned com into that 

 area for feed purposes. Fanners appear to be reluctemt to sell their corn until they 

 are sure that the quantity and quality of the new crop will be adequate to taJce care 

 of their own needs. 



Hogs bring ceiling prices; cattle prices are steady; but lambs are weak. In 

 spite of the fact that receipts of cattle at Kansas City Monday totaled about 50,000 

 head, which was the largest volume of the year, prices at Chiceigo were generally steadji 

 Fed steers were in very liberal supply at Chicago for this season of the year, but the 

 dememd was excellent for choice grades. Although receipts of sla\;ighter spring lambs 

 were light following last week's break of one dollar in prices, lamb prices continued 

 to sag further. The only unusual development in the hog situation was a report that 

 there was a growing flow of small pigs to southern sale outlets for immediate slaughter 

 xinder the guise of feeder sales. The chicken set-aside orders have been terminated. 



A record high of 26l million pounds was established for cold storage holdings 

 of beef on August 1, which exceeded the previous August high at the end of World Wgir I 

 by p2 million pounds. In contrast pork stocks reached em August record low at 5^3 mil- 

 lion pounds, 27 million below the holdings in 1935. Holdings of all types of meats 

 were 56 million pounds below average. Stocks of dairy products, which were very low 

 during the first half of 19^5^ accumulated rapidly in recent months. Stocks of butter 

 at 185 million pounds were 25 million pounds above average. The into- storage movement 

 of ^k million pounds of butter during July was near the record. 



World sugar production in 19^6 probably will be somewhat larger than in 19^5 

 but will be insufficient to meet unrationed demands at current prices for sugar. Our 

 situation in the United States has been affected by the fact that sugar production in 

 19^5 is the smallest since the stEirt of the war and the needs for sugar in recently 

 liberated areas of Europe have been large. 



Just prior to the surrender of Japan, UNRRA revealed its heretofore unpub- 

 lished plans calling for the shipment of some 800,000 tons of supplies to China. These 

 supplies are part of a larger program which UNRRA has been preparing for months against 

 the day when the defeat of Japsm would once again open ports and permit supplies to be 

 sent into China and the Far East. 



For the United States aversige farm real estate taxes per acre were about 

 three percent higher in 19^^ than in 19^5. This is the first increase since the out- 

 break of the war. In 19'+i- they stood at iQk percent of the 1909-15 average. For Il- 

 linois taxes per acre in 19'4-^ were $1.01 compared to $l.l6 in 1950 and $.55 in 1910. 

 Taxes per one hundred dollars of value in Illinois were $.85 in 19^'<-> $1.21 in 1950 

 and $.51 in 19IO. The trends were as follows in taxes per acre for the United States: 

 rising appreciably from I9IO to I918; a very rapid rise to 1920; a slight rise to 1950; 

 a rapid decline to 195^; and little change to 19^5. 



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Cooperative Extension Work in Agriculture and Home Economics: University of Illinois 



College of Agriculture and the United States Department of Agriculture cooperating 



H. P. Rusk, Director. Acts approved by Congress May 8 and June 50, I91U. 



