The Raymer enterprise., 1918-11-21

..he entire marketing situation has
- changed since the September Joint
eonferencs as 10 necessltate an entire
alteration In the plans of price stabi-
nxatlon. The current peace talk has
alarmed the holders OF corn, and there
has been "a price decline Of from -
cents to 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 avail
able to the European market has Gre
ated great deal OF apprehension on
the part OF corn holders. This decline
has spread fear among swine growers
that similar reduction In the prices
Of hogs would naturally follow. More
over, the lower range OF corn prices
would. II incorporated In a l3-to-l 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, and
this oyershipment has added TO aud
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 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 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 endeaYor
TO maintain the agreed price. The re-
suit In any event has been failure
To maintain the october price basis
determined upon ut the September con
ference and undertaken by SIe pack
ers Another factor contributing to
the break in prices during the month
has been the influenza epidemic IL
has sharply curtailed consumption Of
pork products and temporarily de.
creased the labor staff Of the packers
about 25 per cent
The exports of l30,0o0.000 pounds
Of pork products for October com
pared with about 100000 pounds
n October year ago. and the
export orders placeable by the Food
Administration for November. amount
to lT0Wo.0o0 pounds as contrast
ed with the lesser exports Of
as,000.0oo 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
istratlon asked. The increase In ex.
port demands appears to be amply
sufficient TO take up the increase In
hog production. but unfayoruble mar
ket conditions existing In October af-
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 would
immediately upon peace result In ad-
dltional demands for pork products
which. on top OF the heavy shipments
to the Allies, would tend materially
10 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 peace. So far as 1t
is possible to interpret this fact. II 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 unwarranted by the outlook.
In the light Of these circumstances
II is the conclusion Of the conference
that attempts to hold the price OF hogs
TO the price OF corn may work out to
the disadvantage of pork producers
II is the conclusion that any interpre-
tatIon Of the formula should be
broad gauged policy applied over q
hug period. Ii Is the opinion OF the
conference that ln substitution OF the
previous plans Of stabilizatlon the
Live Stock Subcommittee OF the Agri.
cultural Advisory Board, together with
the specially invited swine representa-
tiyes, should accept the Invitation Of
the Food Administration b join with
the Administration and the packers In
determining the prices at whlA con-
trolled export orders are to be plae>t.
This will be regularly done. The in
fiuence of these orders will be directed
to the maintenance II the common OBJ
ject--namely, the staftlixation Of the
price Of live hogs so as % secure as far
~ Il y possible fair lFsturns u tAs