.'X?tO>'^*^ Extension Service in Agriculture ftnd H'^me Ec-^nonlco 



' CVt>2 University of Illinois College of Agriculture, UrbMA 



WEEKLY EEVIEW AND FAI?M AU^LOOK LETTER 



4^ 



By G. L. J^rAriA 

 Profeepor, Agricultural En^Viomlcc 



(Prepared October ^))3'/t? ' - • 



Grnln prices, particularly grain futures, rone t« nev reiponal liighs during 

 the past week. Wheat wa.i strong aa a result of excellent mill buyir^ and inflation 

 fears. Cattle prices have not been aa strong during the past week as during the pre- 

 vious week. One re<\son given for the reduction in prices han been caution ^n the 

 part of buyers at the beginning of a new accounting period. It ftppears that the 

 slaughterers found by mid-September thAt their average prices were well below the gov- 

 ernment's stipulated maximum average. Therefore, they bid more freely during the lat- 

 ter part of September than would be Justified on the Average, /a: Increasing percentage, 

 of 19^p spring pigs are arriving at Chicago. There In a rumor to the effect that the 

 hog price celling at Chicago nay be raised anywhere from 10 cents to 25 cents popslbly 

 within the next few days. Com ceilings will not be raised. 



The index of prices received by U. S. farmers dropped 7 points between 

 August Ip and September 15. The greatest declines were in truck crops and t^ a less 

 extent meat aniinAlo, eggs, feed grains, tobacco and oil crops. In contrast, prices 

 of commodities used for family living Increased one point to a new high since 1920. 

 As a result of these contrasting trends In prices received and paid by farmers, the 

 parity ratio dropped to 113 compared with ll8 in August and 113 a year ago. Compared 

 to the 1955-1939 average, Illinois farm prices on September 15 ranked as follows: 



167* 



165 



l6i+ 



161+ 



163 



158 



151 



Receipts of salable cattle at 12 public markets during the month of Septem- 

 ber were 5 percent below September 19ivl4-. Receipts of calves were down l^*- percent. 

 Receipts of hogs at these 12 markets were down 33 percent. Average weights of hogs 

 are extremely high, averaging 2914- pounds for barrows and gilts at Chicago compared to 

 225 pounds in September 19lfU. 



The government has announced that the subsidy payments on wheat milled into 

 flour will be 7 cents higher than for the period ending September 30. This additional 

 subsidy will encourage millers to offer flour more aggressively. 



In order to ease the protein feed situation until the new crop vegetable 

 proteins become available, it has been suggested that more grain and less protein be 

 fed to turkeys, broilers and late -hatched chicks, that all hens and slovly maturing 

 birds be culled and that more pasture and less protein be fed to dairy af.d beef cat- 

 tle. Hog men are urged to use the protein supplements for brood sows and fall pigs 

 rather than for market hogs. 



-0- 



vCooperatlve Extension Work in Agriculture and Home Economics: University of Illlnoi# 



College '^f Agriculture and the United States Department of Agriculture cocperating. 



H, P. Rusk, Director, Acts approved by Congress May 8 and June 30, I91I+ 



