t^C^^W Extension Service In Agriculture and Hone Sconomics 



a^^ Q. Unlvereity of Illlnoie College of Agriculture, Ur^jum RECEIVED 



^P / WEEKLY EEVIEW AHD FAEM OUTLOOK LETTER {,()V 21 1945 



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By G. L. Jordan Mi|l|M.H|JS8AN0RY 



Professor, Agricultural Economics [HE LlBBAFu Cruib 

 (Prepared November 21) 



Receipts of hogs at Chicago during the past tvo weeksntrS-e -die" largest since 

 last January. Although the average veight vas only 26? pounds^ the ligiitest since 

 May 19, it was above that of any corresponding veek on recordJ«iVa|6iHc^i»-l^ii|^t of 

 hogs received set a new November record. Expansion of receipts has been greatest in 

 the western com belt. There have also^been increased cattle marketings at Missouri 

 River centers. More short -fed axid less long- fed steers are coming to market. Strictly 

 finished cattle CLre scarce, but the ceiling is paid for cattle w^th moderate finish. 

 Because of the relatively large amount of soft com in the westeim com belt, Illinois 

 feeders are forced to compete actively for replacement stock. Present stocker'and 

 feeder cattle prices are the highest on record for the season. 



The grain markets have been strong, with rye futures recovering all the 10 

 or 11 cents dip of last week and going to a new 25-year high. Oats prices were a lit- 

 tle weak in the spot market as a result of leirger receipts and the feilling off to shipping 

 demand. The Office of Price Administration indicated that It would issue regulations 

 November 50 setting ceilings on the I9U6 rye crop at all levels. This will be the fli H t 

 celling placed on rye, and it is expected that it will be $1.J^2 a bushel at Chicago 

 for No. 2 rye and will become effective June 1, 19*^6. Monday, November 19 > the 

 December rye future closed 50 cents above this celling for the new crop. 



According to the government's November 1 repoi^, about as many lambs will 

 be finished in feedlots during the 19k'^-k6 lamb feeding season as in the V^^-k*^ sea* 

 son, but there will be a rather sharp reduction in the nuniber finished on wheat pas-/ 

 tures. Because of the higher subsidy payments on heavy weight lambs, the movement cwt/ 

 of the feedlots may be delayed. Shipments of feeder lambs to the lot feeding areajs^ 

 the com belt in October were the second largest on record for the month. 



An Increase in the nimber of cattle fed during the coming winter feeding sea- 

 son over a year earlier is anticipated by the U. S. Department of Agriculture as a 

 result of developments during October. The unusually keen demand for feeder cattle 

 evidenced in October is expected to continue through November and December; €uid if cat- 

 tle are available, the movement into feeding areas will continue large. 



As a result of good weather which permitted farmers to speed up fall harvest 

 operations, about 60,000 more persons were working on farms on November 1 than a year 

 ecurlier. This is the first month since September 19*^3 that a significant Increase 

 over a year earlier has occurred in farm enrployment. It is probably a good indication 

 of the easing of the farm labor situation associated with the return of the boys from 

 the armed services. | 



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The U. S. Depeurtment of Agriculture reports that rates paid by farmers for 

 combining and harvesting of wheat, oats and soybeeuis have shown a sharp increase in 

 recent years. Combining rates for the 19*i'5 crop averaged $5*65 per acre for wheat and 

 $3.60 per acre for oats compared with $1.90 for wheat and $2.30 for oats for the 1958 

 crop. Rates for combining the 19*»'5 crop of soybeans have averaged $3.80 per acre so 

 far this season, with considerable variation between states. 



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^ooperative Extension Work in Agriculture and Home Economics: University of Illinois 



College of Agriculture €uid the United States Depaartment of Agriculture cooperating. 



H. P. Rusk, Director. A*ts approved by Congress May 8 and June 30, 191*^. 



