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By G, L. Jordan 

 Professor^ Agricultural Economics 



^^ (Prepared October 25) 



(Hl^llghte of the Weekly Market Review and Farm Outlook are broadcast each Friday 

 from 12:lf8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles . ) 



Cnmnndity Prices at Chlc< 



Wednesday 



October 2^. 19^5 Week ago 



bee ember 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, 

 October 20 



$ 1.79** 

 1.18 1/2 



.67 3A-.681A 

 Al* 



li^.85» 

 18.00* 



12.5 



$ 1.79** 

 1.18 l/2^H^ 

 .69 1/2 

 ,kl* 

 .59-Al^/2 

 11^.85* 

 18.00* 



12.k 



$1.75 7/8 $1.76 7/8 



1.18 1.18 l/k 



.6k 1/2 .65 7/8 



♦Ceiling prices. 

 ♦♦Nominal. No cash sales. 



Hog prices remained at the celling even though there was a slight seasonal 

 expansion in receipts, which is a normal development. This moderate expansion is ex- 

 pected to continue through Novenber with a rather sizable increase in December. The 

 heavier mEurketlngs are expected to show up during the first quarter of 19^. Cattle 

 prices have remained strong throughout the week with a slight weakening at the end. 

 All grain prices continued strong. 



New hog support program . The government has announced a lowered hog price 

 support program for the year beginning October 1, 19*^6. The new support program as- 

 sures farmers of a yearly average of qpl2 a hundredweight with a system of weekly price 

 variations. The present $15 a hundredweight flat price guEirantee has been extended 

 from September 1, 19^, to October 1, 19*^6. At the time of announcing the new hog sup- 

 port price program, Clinton P. Anderson, Secretary of Agriculture, called for a 19^6 

 spring crop of 52 million hogs, practically the same as that^ produced in the spring of 

 19^5. . ^ 



Current estimates of 19^6 and 19*4^7 national incomes Indicate that farmers may 

 expect hog prices for the 19^ spring pig crop to be above support price levels if pro- 

 duction approximately equals the goals, and marketings are reeisonably well distributed 

 throughout the marketing season. Department of Agrlcultiure officials stated. The new 

 pig crop goal is expected to furnish about 150 pounds of meat per person for the year 

 beginning October 1, 19^6. This would be about the same as for the last quarter of 

 19^5. 



