The Lamar register., 1918-11-27


SO changed since the September john
conference as TO necessitate an entire
alteration IN the plans Of price siahi-
llzation The current peace talk mas
alarmed the holders of corn, and there
has been II price decline of from ~
cents to 40 cents per bushel. The f,.rr
that the accumulations 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 ere
ated n 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
ever the lower rnnge of corn prices
would, If Incorporated in l3-to-1 ra'
ito, obviously result In continuously
falling price for live hogs. In view
OF these changed conditions many
swine producers anticipated lower
prices and as result rushed their
hogs TO market In large numbers, ana
tillb phtl bAAH hhsNN -
aggravated the decline.
The Information OF the Department
of Agriculture Indicates that the sup
ply of hogs has increased about per
cent. while the highest unofficial estl-
mate does not exceed Is 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 q 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 nave
not maintained the price agreed last
month. On the other hand, many
of the packers have paid over the
price offered TO them 10 an endeavor
TO maintain the agreed price. The re-
suit in any event hns been fhllure
to maintain the October price basis
determined upon at the September con
terence and undertaken by the pack
ers. Another factor contributing TO
the break In prices during the month
has been the Influenza epidemic; 1t
has sharply curtailed consumption OF
pork products and temporarily de-
creased the labor stan OF the packers
about 25 per cent.
The exports of 100000 pounds
of pork products for october com
pared with about 52,OOOOOO pounds
in October year ago, and the
export orders placeabie by the Food
Administration for November, amount
to 100000 pounds as contrast
ed with the lesser exports or
$4,000 for November. 1917. 1he
Increased demands of the nllies are
continuing. and nre In themselves
proof of the necessity for the large
production for which the Food Admin
istration asked. The increase In eN-
port demands appears TO be amply
sufficient to take up the Increase In
hog producti III, but unfavorable mar
ket conditions existing In October hf-
ford no fair index of the aggregate
supply and demand.
II must be evident that the enor-
nous shortage In fats In the Central
EmpIres and neutral countries woulu
Immediately upon peace result In ad-
ditIonnI demands for pork products
which, on top of the heavy shipments
IN the Allies, would tend materially
IN increase the American exports. In
asmuch as no considerable reservoir OF
supplIes exists outside of the United
states. II seems probable that the
present prospective supplies would be
inadequate to meet this world demand
with the return TO pence. So far as II
,s possIble to interpret this fact, 1t ap-
nears 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
reece is unwarranted by the outlook.
In the light of these circumstances
n is the conclusion of the conference
that attempts to hold the price of hogs
10 the price of corn may work out TO
the disadvantage of pork producers
1t is the conclusion that any interpre-
tation OF the formula should be
broad gauged policy applied over a
long period. 1t is the opinion of the
conference that in substitution of the
previous plans OF stabllization the
live Stock subcoPmittee OF the A2ri-