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WEEKLY MAEKET REVIEW AND FARM OUTLOCK 



By 0. L. Whalln 

 Asfloclate Profeesor, Agricultural Extensicjn 



(Prepared September 19) 



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

 fran 12:U8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Comnodity Prices at Chicago 



Cash 



Wednesday 



September 19.19^5 Weejt ago 



(close) 

 Wednesday 



December j^utures 



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- com ratio, Chicago, 

 September I9 



$1.71 1/2-1.72 1/2 

 1.18 1/2* 

 .6U 5/8-.67 5/8 



M* 

 -30-.53 1/2 

 lU.75* 

 18.00* 



12.2 



$ 1.68 1/2 

 1.18 1/2* 

 ,65 1/2', 66 1/2 



M* 

 .29-. 32 

 1^^.75* 

 18.00* 



12.2 



$1.68 1/8-1/4 $1.66 

 1.16 7/8 1.15 1/8 

 .62 1/8.1/U .60 5/8-3/- 



* Ceiling prices 



Both livestock and grain markets had an increasingly strong tone during the 

 week. Slaughter cattle were 25 to 50 cents a hundred higher than a week earlier. The 

 increase applied to all classes of slaughter cattle. Feeder cattle maintained the 

 price level of a week ago in the face of increased marketings. Hog numbers are at a 

 seasonal low, hut weights are near record, averaging around 320 pounds compared with 

 ah out 275 pounds a year ago. 



Egg situation . The egg market has steadied with the U.S. Department of 

 Agriculture announcement that the Amor Quartermaster Corps will need approximately 

 one million cases of shell eggs hetween now euid the first of the year. The state- 

 ment that other government agencies would be in the market later in the year for seme 

 supplies of shell eggs added support. Also, the production of fresh eggs has de- 

 clined substantially. Cold storage holdings of eggs on September 1 were the lowest 

 on record. Total holdings of shell eggs on that date were 4,721,000 cases compared 

 with 7,655,000 cases a year earlier and a five-year average of 7,06l,000 cases. 



Foreign crop outlook . The 194-5-46 world production of wheat is estimated 

 at about 5,400 million bushels, a decline of 5 per cent from 1944 and 8 per cent less 

 than the 1935-39 average. The harvest is short in Europe and Africa. The Southern 

 Hemisphere, which includes Argentina and Australia, has a larger wheat acreage than 

 the small acreage harvested in 1944, but below that of other recent years. The North 

 American total of wheat production is expected to be slightly smaller than a year ago 

 because of an estimated 100 -mi 11 ion-bushel decrease in Canada. 



The 1945 oat crop in Canada is estimated at 388,298,000 bushels. 111 mil- 

 lion bushels less than in 1944. 



The 1945 production of com in Argentina has been placed at 116,745,000 

 bushels, which represents only 34 per cent of the 1944 crop. The greatly reduced 



