Mayy 19)1 



THE I. A. A. RECORD 



Page Nine 



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Farm Board and Wheat Prices 4 



JWJ HAT has the Farm Board and the Grain Sta- 

 ^^ bihzation Corp. meant to the wheat grower and 

 wheat prices? 



The accompanying chart received from Secretary 

 of Agriculture Arthur M. Hyde will help answer the 

 question. In September, 1930, before the Grain Sta- 

 bilization Corp. became effective, note that the Liver- 

 pool price at 97c was higher than the Chicago price 

 at 92. In February, 1931, the Chicago price was 

 82 J/2 c, while the Liverpool market had dropped to 63 c. 



The stabihzation operations backed by the Farm 

 Board are credited with averting hundreds of bank 

 failures and farm bankruptcies in the wheat growing 

 sections. Now that last year's crop is largely out of 

 farmers' hands and either processed or owned by the 

 Stabilization Corp., support has been removed from 

 the market. As a result prices have drifted lower. 

 The support given the grain market by the Farm 

 Board when a crash was imminent, is likened to the 

 support given the stock market by the big banks in 

 the fall of 1929. ^^^^^^ : : • , • . > 



More favorable wheat prices are now dependent on 

 increased demand from European countries which 

 have been using home grown grains almost to the 

 exclusion of imports, improved buying power by con- 

 sumers in this country, and lower domestic production. 



Enforcing the Oleo Law 



"CNFORCEMENT of the state law against selling 

 "^ yellow colored oleomargarine is reported from sev- 

 eral counties where violations have been discovered. 

 This law was placed on the statutes for a good pur- 

 pose, namely, to protect butter, a home-grown prod- 

 uct, against the unfair competition of a product made 

 largely from imported vegetable oils. There is little 

 objection to the sale of uncolored oleo, particularly 

 that made largely from American animal and vegetable 

 fats. Dairymen have no desire to curtail the market 

 for beef fats, cottonseed oil and similar products orig- 

 inating on the farms of this country. They do right- 

 fully insist that such products be sold for what 

 they are, that imports of cocoanut oil from the Philip- 

 pines be further restricted. No one can assail such a 

 policy, for it is in line with protection industrial in- 

 terests are now enjoying. • 



The Wool Pool 



TLLINOIS wool growers have an opportunity to co- 



-'- operate with the National Wool Marketing Corp., 



which last year handled 38 per cent of the entire clip 



in the United States, 



An initial payment of 11 cents per pound will be 

 made to the growers on delivery, the balance to be 

 paid when the crop is sold. In some localities last year 

 the price paid by local buyers was no higher than the 



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initial advance of the co-operative. In 1930 it is re- 

 ported Ohio wool growers received a total of 28 cents 

 per pound for their high grade wool. In Illinois, where 

 wool growing is largely a sideline, the average quality 

 is not so high ias in Ohio. But growers who pool 

 are assured of getting all the market affords less the 

 moderate handling charge. It looks like good business 

 to patronize this co-operative setup where every pro- 

 ducer is paid on honest weights in line with the quality 

 of his product. 



To Meet at Bloomington 



m, 



THE first annual meeting of the Illinois Livestock Mar- 

 keting Association, newly organized state co-operative, 

 will be held at Bloomington on Thursday, May 28. Election 

 of directors and consideration of plans and policies will be 

 the principal order of business at the meeting which will 

 begin at 10 A. M. in the McLean County Farm Bureau 

 assembly hall. 



Speakers will include P. O. Wilson, Chicago, manager of 

 the National Livestock Marketing Association; D. L. Swan- 

 son, Chicago, manager of the Chicago Producers Commission 

 Association; and Ray E. Miller, director of livestock mar- 

 keting. Henry Parke of Genoa is temporary president of 

 the association. Live stock growers from all sections of the 

 state are expected to gather for the meeting. 



Grain Corp. Growing 



The business of the Mid-West Grain Corp, continues to 

 improve and during April 410 carloads of grain were 

 handled. , ■ . __^_ 



Since Nov. 1 when the regional began operating on its 

 present basis, grain has been received from 134 different 

 points in 40 Illinois counties. This satisfactory growth 

 indicates the confidence grain producers and co-operative 

 elevator^ over the state have in their own sales agency. 



