\s^EEKLY MARKET RETVIEW AND FARM OOTLOCK 



^ By 0. L. Whalln 



Associate Professor, Agricultural E±teneion 



(Prepared September 12) 



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

 from 12:kQ to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 580 kilo- 

 cycles.) 



Commodity Prices ^ at Chicag o 



Cash ' ' ' ' 

 Wednesday 

 September 12.19^5 Week ago 



December futures 

 (close) 



Wednesday 



Week ago 



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, 

 September 12 



$ 1.68 1/2 

 1.18 1/2* 

 .65 1/2-.66 1/2 



,ki* 

 ,29-. 52 



1^.75* 

 18.00* 



12.2 



$ 1.66 1/2 

 1.18 1/2* 

 .60 5 A 

 .1+1* 

 .33-. 55 

 lif.75* 

 18.00* 



12.2 



$1.66 $1.61i 1/2 



1.15 1/8 1.15.3/8 



.60 5/8-5/^ .59 5/8 



# 



*Ceiling prices. 



Grain prices remained strong in spite of the September bumper crop report. 

 With small ireceipts, hog prices continued at ceilings. Cattle prices continued weak, 

 only a few loads bringing ceiling prices. All grades were under pressure and buyers' 

 discrimination extended even to strictly choice steers. Better cattle showed re- 

 newed strength Wednesday with removal of the federal slaughter restrictions. 



Western grass cattle have begun their flow in earnest to Chicago. Quality 

 is showing considerablo Improvement, and prices are about in line with those of a 

 year ago. 



Wheat and com prices . Wheat prices at the end of the war (August 15) aver- 

 aged $1.^5 a bushel and com $1.13 a bushel at the farm ccopared with $2.05 for wheat 

 and $1.58 for corn at the end of World War I. For two years after World War I farm 

 prices for wheat and com averaged considerably above parity, but during World War IT 

 wheat averaged slightly below pariity and corn about parity. Farm prices of wheat 

 August 15 averaged 95 P©r cent of parity, whereas com averaged 102 per cent. 



Bumper crops of food and feed . Another bumper crop is in prospoct, accord- 

 ing to the September fec^eral crop report. Outstanding was the estimate for another 

 com crop in excess of 5 L)1115.on bushels --225, 000 bushels more than was reported a 

 month ago. The four major crops, of which both wheat and oats are the highest of 

 record, together with eorrjiun grains and soybeans, promise a ccanbined production of 

 6,395 million bushels compared with 6,132 million ouahels harvested in lo^^i-. Con- 

 tinued favorable wer^thor in September and later than normal frosts will be necessary, 

 the report stated, if these prospects are to bp "borne out. 



The big wheat crop, together with a record crop of rice and good yields of 

 rye and buckwheat, lifts total 19^5 production of food grains to the highest on 

 record by more than 2 million tons. 



