White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1918-11-24

S0 Cud1lktA StiitC NA1 49,
conference as TO necessitate an entire
alteration in the plans of price stabi-
lization. The current peace talk
alarmed tie holders Of corn, and
has been a price decline of from 70
cents TO 10 cents per bushel- The fact
hat the accommodations of low priced
corn in the Argentine and South Afri-
ca would. upon the advent OF peace
and liberated shipping, become avail
able to the European market has ere
afed a great deal of apprehension on
the part of corr 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, if Incorporated in a l3-to-l ra-
TO, obviously result In 8 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 oyershipment has added to and
aggravated the decline.
The information of the Department
of Agriculture indicates that the sup
ply Of hogs has increased about 8 per
cent, while the highest unoficial esu-
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 have
not maintained the price agreed last
month. On the other hand, many
of the packers have paid Owe the
price offered to them in an endeavor
10 maintain the agreed price. The re-
sui in any event has been a failure
20 maintain the October price basis
determined upon nj the September con-
ference and undertaken by the pack
ers. Another factor contributing TO
fhe break in prices during the month
has been the influenza epidemic; II
has sharply curtailed consumption of
pork products and temporarily de
creased the labor staff of the packers
about % per cent
The exports of 130.000.0O0 pounds
of pork products for October CON-
pared with about 100000 pounds
in October a year ago. and the
export orders ~placeabie by the Food
Administration for November. amount
70 170,O00.000 pounds al contrast
ed with the lesser exports of
$4,000. 90 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 10. take up the increase in
hog production, but ~unfayorable mar
ket conditions existing in October af-
ford DO fair index of the aggregate
supply and demand.
1t must be evident that the enor-
nous shortage in fats In the Central
Empires and neutral countries would
Immediately upon peace result in ad-
ditional demands for pork products
which. on top of the heavy shipments
TO the Allies. would tend materially
70 increase the American exports, in
asmuch as no considerable reservoir of
supplies exists outside of the United
States. 1t seems probable that the
present prospective supplies would be
inadequate 10 meet this world demand
with the return to peace. So far as 1t
is possible to interpret this fact, 1t ap-
pears that there should be even a
stronger demand for pork products
after the war, and therefore any alarm
of hog producers as to the effect OF
peace is unwarranted by the outlook
In the light Of these circumstances
il is the conclusion of the conference
that attempts to hold the price of hogs
TO the price Of corr may work to
the disadvantage Of pork producers
II II the conclusion that any interpre
tation OF the formula should be .
broad gagged policy applied over 9
long period. 1t Is the opinion Of the
conference that in substitution Of tht
previous plans OF Qualification tbs
Live Stock Subcommittee Of the Agri
cultural Advisory Board, together with
the specially invited swine representa-
lives, should accept the invitation o.
the Food Administration to join witt
the Administration and the packers Ii
determining the prices at which con
trolled export orders are to be placed
This will be regularly done. The In
auence Of these orders will be directe'
the maintenance of the common Oh
namely. the stabilixation Of th
. Of live hogs % - - secure q q
= pessfbls ~ returns - 4