The Liberal democrat. [volume] (Liberal, Kan.) 1911-1924, 1918-11-14

so changed since the September joint
conference as TO necessitate an entire
alteration in the plans Of price Istabi-
llEaton. The current peace talk has
alarmed the holders of corn, and there
has been a price decline of from %
cents 70 40 cents per bushel. The fact
that the Accommodations of low priced
corn in the Argentine and South Afri-
ca would, upon the advent of peace
and liberated shipping, become availa-
BILE to the European market has Gre
ated a great deal of apprehension on
the part of corn holders This decline
has spread fear among swine growers
that a similar reduction in the prices
of hogs would naturally follow. More.
over, the lower range of corn prices
would, II incorporated in a 13-to-l ra-
ito, obviously result in a continuously
falling price for live hogs. In view
of these changed conditions many
swine producers anticipated lower
prices and as a result rushed their
hogs to market in large numbers, and
this overshipment has added to and
aggravated the decline.
The information of the Department
of Agriculture indicates that the sup
ply of hogs has increased about s per
cent, while the highest unofficial esti-
mate does not exceed 10 per cent. In
creased production over last year. On
the other hand, the arrival Of hogs
during the last three weeks In the
seven great markets has been ,H per
cent. more than last year, during the
corresponding period, demonstrating
the unusually heavy marketing of the
available supply. In the face of the
excessive receipts some packers have
not maintained the price agreed last
month. On the other hand, many
of the packers have paid over the
price offered to them in an endeavor
to maintain the agreed price. The re-
suit in any event has been a failure
TO maintain the October price basis
determined upon at the September con-
ference and undertaken by the pack
ers. Another factor contributing TO
the break In prices during the month
has been the influenza epidemic; it
has sharply curtailed consumption OF
pork products and temporarily de-
creased the labor staff of the packers
about 25 per cent.
The exports of 130,000,000 pounds
of pork products for October com
pared with about 52,0OO,OOO pounds
in October year ago, and the
export orders placeable by the Food
Administration, for November, amount
to 17OOOO,OOO pounds as contrast
ed with the lesser exports or
eSOOOOOO for November, 1917 The
increased demands of the allies are
continuing, and are In themselves
proof of the necessity for the large
production for which the Food Admin
istration asked. The increase in ex-
port demands appears to be amply
sufficient to take up the Increase IN
hog product III, but unfavoraDle mar
ket conditions existing in October al
ford no fair index of the aggregate
supply and demand.
If must be evident that the enor-
nous shortage in fats In the central
Empires and neutral countries woulu
Immediately upon peace result In ad-
ditional demands for pork products
which. on top of the heavy shipments
m the Allies, would tend materially
TO increase the American exports IN
asmuch as no considerable reservoir OF
u,nnlies exists outside of the United
states II seems probable that the
present prospective supplies would De
inadeouate TO meet this world demand
with the return to peace. So far as II
ia possible to interpret this fact, 1t ap-
pears that there should be even
stronger demand for pork products
after the war, and therefore any alarm
Of hog producers as to the effect OF
peace Is unWdTTunteu Wy IhS
In the light of these circumstances
n is the conclusion Of the conference
that attempts to hold the price OF hogs
TO the price of corn may york out TO
the disadvantage of pork producers
II is the conclusion that any interpre-
tation of the formula should be a
broad gagged policy applied over a
long period. 1t is the opinion OF the
conference that in substitution Of the
previous plans of sterilization the
Live Stock Subcommittee Of the Agri-
cultural Advisory Board, together with
the specially invited swine representa-
lives, should accept the invitation OF
the Food Administration to join with
the Administration and the packers In
determining the prices at which con-
trolled export orders are to be placed
This will be regularly done. The In
nuence Of these orders will be directed
TO the maintenance Of the common OBJ
ject-namely, the Sterilization OF the
rice Of live hogs so as to secure as far
Y is possible fair returns to the
yrouurer anu the insurance OF an aue-
quate future supply.
These foreign orders are placed
upon the basis of cost Of hogs to the
packers.
As the result of long negotiations