WEEKLY MARKET REVIEW AND FARM OUTIXWK 



By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepared Noyeiaber 15) 



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

 from 12:1^8 to 12i55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



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, 

 November 10 



Conmodlty Prices at Chicago 

 Cash 



Wednesday 



November 1^. 19^3 Week ago 



December futures 

 (close) 

 Wednesday Week ago 



$ 1.79** 

 1.18 l/2*» 

 .78 

 ,k6* 

 .kkS* 

 lU.85* 

 18.00* 



12.5 



$ 1.79»» $1.80 1/2 $1.80 1/8 



1.18 l/2^H^ 1.18 1/2* I.I8 l/2» 



.77** .7*^ 5/8 .70 5/8 



lU.85* 

 18.00* 



12.5 



# 



*Ceiling prices. 

 ♦♦Nominal. No cash sales. 



Prices of com and wheat remain at the ceilings, but oats and rye futures 

 price movements have been erratic during the past week, climbing to new highs followed 

 by reactions Tuesday, November 13 • The December rye future sold at $1.90 l/B, the 

 highest price for any type of rye future in 25 years. May oats came within 1 3 A 

 cents of the ceiling. 



Most classes of cattle were steawiy. The largest hog supply since mid- 

 January sold at ceiling prices. The government reported that October shipments of 

 stocker €uid feeder cattle into the corn-belt states were the largest on record for 

 that month and. revised upward the estimate of the nuinber of cattle to be fed in the 

 winter season. It now seems probable that more cattle will be fed for meirket both in 

 the 11 corn-belt states emd adjoining rei;lons than were fed last year, and that the 

 total on feed January 1, 19^i will be a near-record nuinber. The increase in receipts 

 of stocker and feeder cattle in October 1« the eight corn-belt states for which rec- 

 ords of total In-shlpments are available was 27 percent over October last year. The 

 three leading feeding states, Iowa, Illinois and Nebraska, all had records for October. 

 The average cost for stockers euid feeders shipped to the country from four big Middle 

 West markets in October was $12. 80 compeured with $11.57 last year. The trend contimed 

 upward in early November, with an average price of $12.95 for the first week against 

 $11.^8 in the corresponding period of 19^. Concern is expressed in some quarters that 

 there may be a heavy run of cattle to market next spring or early summer. 



Feeders to receive ample warning of subsidy changes . Stabilization Adminis- 

 trator Judge John C. Collett said that the government proposes to end virtually all 

 wartime food subsidies by June 50, 19^. Mr. Chester Bowles of OPA said, "This office 



