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WEEKLY MARKET REVIEVf AND FARM OUTLCX)K 



By G. L. Jordan 

 Professor, Agricultural Economics 



(Prepeured November 21) 



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

 from 12:i^8 to 12:55 p.m., as part of the Illinois Farm Hour, Station WILL, 58O kilo- 

 cycles.) 



Commodity Prices at Chicago 



Cash 



December 

 (close) 

 Tuesday 



futures 



Nov. Ik 



$1.80 1/2* $1.80 1/2* 

 1.18 1/2* 1.18 1/2* 

 .7k 1/2 ,1k 5/8 



♦Ceiling prices. 

 **Nominal. No cash sales. 



^ 



Although receipts of hogs at Chicago during the past two weeks were below 

 19M1. and 19^3* they were the largest since last January. Although the average weight 

 was only 267 pounds, the lightest since May 19, it was above that of any correspond- 

 ing week on record. The total weight of hogs received set a new November record. Ex- 

 pansion of receipts has been greatest in the western com belt. Packing plants in the 

 Iowa -Minnesota area have been able to obtain all the hogs they could handle, but buy- 

 ers from other areas held the prices firmly at the ceiling. There have also been in- 

 creased cattle marketings at Missouri River centers. Relatively large shipments of 

 western ewes caused an increase in total sheep and lamb unloads. More short- fed and 

 less long-fed steers are coming to market. Strictly finished cattle are scarce, but 

 the ceiling is paid for cattle with enough finish to qualify under the rules. In 

 western corn-belt centers, stockers and feeders made up from. 55 to 55 percent of re- 

 ceipts, and all markets were liberally supplied with cows. Because of the relatively 

 large amount of soft com in the western com belt, Illinois feeders eire 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 

 j 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 larger receipts and the falling off in ship- 

 ping demand. Oats futures were about steady, with the strength in rye tending to 

 offset the weakness in the cash market. The Office of Price Administration indicated 



