'.i,1i-f ■':■.'■ 



WEEKLY MARKET REVIEW AND FARM OUTLOOK 



By G. L. Jordan 

 Professor, Agrieultural Economics 



(Prepared November l) 



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

 from 12:1*3 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Commodity Prices at Chicago 



December futures 

 (close) 

 Wednesday Week ago 



Cash 



Wednesday 



October 51 » 19l»5 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 27 



$ 1.79** 

 1.18 1/2** 



.69 l/2«^^ 

 .1+1* 



11^.85* 

 18.00* 



12.5 



$ 1.79** 

 1.18 1/2 



.67 5A--68 lA 



.1+1* 

 .1+1-. 1+36 

 1I+.85* 

 18.00* 



12.5 



$1.77 3/8 



1.18 1/1+ 



,6k 7/8 



$1.75 7/8 

 1.18 

 .61+ 1/2 



*Ceiling prices. 

 **Nominal. No cash sales. 



New corn that arrived at Chicago during the week met a ready demand at ceil- 

 ing prices subject to official discounts for moisture. The lowest moisture test was 

 21.1+0. The market for spot oats was steeidy to firm. Beverage distillers were notified 

 October 26 by the United States Department of Agriculture that they may use low-grade 

 com and other grains in November in an amount equal to 7 l/2 days mashing capacity 

 for the production of beverage spirits and by-product livestock feed. They are not 

 permitted to buy com grading No. 1, 2, or 3 for this purpose. The availability of 

 this outlet is expected to fEicilltate the marketing of soft corn that cannot be stored 

 satisfactorily for later use for feed or food products. 



Wheat prices have been strong as a result of the continued large use of cash 

 wheat by flour mills plus more liberal movement of wheat into expoj^i channels. Cash 

 wheat prices have been staying close to the ceiling. Heavy movement of wheat has 

 resulted in lower stocks than usual in Interior mills, elevators and warehouses and at 

 terminals, but farm stocks are slightly higher than in recent years. Holdings in 

 interior mills, elevators and weurehouses axe the smallest as of October 1 since 1939. 

 They are about 9 percent lower than a year ago but about one percent larger than the 

 1955-I+3 average for October 1. 



Sales of cattle at the 12 principal markets Monday, October 29, were the 

 second largest of the year. In Chicago approximately 22,000 head were placed on sale, 

 and this was the leurgest number marketed on any one day since last February. The move- 

 ment of hogs continues to show moderate seasonal expansion, but receipts of lambs and 

 sheep continue below arrivals a year ago. The unloads of cattle at principal Missouri 

 River centers ran better than 60 percent to stockers and feeders. An increased 







