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that it would issue ^regulations Noveteer 30 setting ceilings on the 19^ rye crop at 

 all levels. This will be the first ceiling placed on rye, and it is expected that it 

 will be $l.i*2 a bushel at Chicago for No. ^ rye and will become effective June 1, 19^. 

 Mondeiy, November 19, the December rye future closed 50 cents above this ceiling for 

 the new crop. 



Surplus eggs may go to Britain . Britain appears to be willing to purchase 

 our surplus eggs either €U3 shell or dried eggs as soon as credit arrangements are 

 worked out betweep the two countries. Although eggs are now near ceiling price levels, 

 it is expected that next spring during the season of flush production we may have a 

 surplus of eggs which will require some sort of government price support. The United 

 States Department of Agriculture is encouraging egg producers to cull flocks during 

 the moulting season so as to check overproduction. It is i)osslble that some incen- 

 tive plan may be worked out to encourage culling of flocks. 



It is also reported that a group of large dairy companies has applied for 

 license to engage Jointly in the export of dried whole milk and dry milk solids, not 

 fat. - . . 



Wool outlook helped by clothing shortage . Although world stocks of wool 

 eire high as a result of shutting off the European and other markets by the war, a 

 leurge fraction of the stocks is controlled by the British government, which has an- 

 nounced a long-range plan for its orderly disposal. After World War I wool was in a 

 very vulnerable position. This time the danger of severe price declines is lessened 

 somewhat by the severe shortage of weeuring apparel in 'Europe and in the United States. 

 We have several times as many ^ men returning from the armed forces in need of new 

 civilieua clothes as returned following World War I. The present shortage is really 

 critical, particularly of woolen and vorsted fabrics and clothing. A somewhat differ- 

 ent view is taken by Senator 0»Mahoney, who amticipates some "disadvantageous effects" 

 of exporting countries seeking to capture the American market. He called u-pon the 

 government to establish a constructive wool policy. 



The lainb feeding situation . According to the government's November 1 re- 

 port, about as many lambs will be finished in feedlots during the 19^5-^ lamb feed- 

 ing season as in the ISkk-k^ season, but there will be a rather sharp reduction in 

 the number finished on w)ieat pastures. More are expected to ^e finished in the feed- 

 lots of the com belt, but f^wer in the western states. Because of the higher subsidy 

 payments on heavy wei^t lambs, the movement out of the feedlots may be delaiyed. Ship- 

 ments of feeder lambs to the lot feeding areas of the com belt in October were the ^ 

 second largest on record for the month, but 25 to 35 percent fewer lambs will be fed 

 on the .western Kansas wheat fields. 



The cattle feeding situation . An increase in the number of cattle fed dur-« 

 ing the coming winter feeding season over a year eeurlier is anticipated by the U. S. 

 Depeirtment 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; and if cattle are available, the movement into feeding areas 

 will continue large. Part of the strength in the demand for feeder cattle during 

 October resulted from rather extensive frost damage to com in the leading corn-belt 

 feeding states. 



