The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1918-11-21

The conclusions OF the conferen>s
The entire marketing situation has
80 changed since the September Joint
conference as 20 uccessitafe an entire
alteration IN the plans OF price stabi-
lizatl0n The current peace talk has
alarmed the holders OF corn. aud there
has been a price decline Of from =
cents 20 80 cents per bushel The fact
that the accommodations OF low priced
corn in the Argentine aud South Afri-
and liberated shipping. become avail
able 10 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 similar reduction In the prices
OF hogs would naturally follow. More
over. the lower range OF corn prices
would. II Incorporated IN a i3-to-1 ra-
TO. 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 per
cent. while tho highest unofficial estl-
mate does not exces9 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 y 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 sose packers have
not maintained the price agreed lat
month. ON the other hand. many
OF the packers have paid over the
rprice offered 70 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 az 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; II
has sharply curtasied consumption or
uork products and temporarily de-
creased the labor STAFF Of the packers
about % per cent
The exports OF 1000 600 pounds
OF pork products for October com
~ a.
IN October year ago. and the
export orders placeable by the Food
Administration for November. amount
70 100000 pounds as contrast
ed with the lesser exports Of
es. 600 900 for November. 1917. The
Increased demands OF the allies are
continuing. and ere In themselves
proof OF the necessity for the large
producfion FOR which the Food Admin
istration asked. The increase In ex-
port demands appears 70 be amply
sufficient TO take up the Increase 10
hog production. but unfavorable mar
ket conditions existing in October az
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-
.ditlonal demands for pork products
which. on top OF the heavy shipments
TO the Allies. would tend materially
ITO 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 20 meet this world demand
with the return 10 peace. SO far as II
is possible 10 interpret this fact. II ap-
pears that there should be even a
stronger demand for pork products
after the war, and therefore any alarm
iof hog producers as TO the effect Of
tpeace is unwarranted by the outlook.
In the light OF these circumstances
IN Is the conclusion Of the conference
that attempts 10 hold the price Of hogs
! TO the price OF corn may work out 70
the disadvantage Of pork producers
II II the conclusion that any inferpre-
itation OF the formula should be q
broad gagged policy applied over a
long period. II Is the opinion OF the
conference that In substitution Of the
previous plans OF sterilization the
Live Stock Subcommittee OF the Agri-
fcultural Advisory Board, together with
the specially invited swine representa-
lives. should accept the invita- ton 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 viii be regularly done. The in
ifuence-of these orders win be directed
to the maintenance Of the common OBJ
lject-namely. the ssabIlixafion of the
price OF live hogs 50 as to secure ss far