The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1918-12-13

foreign pork purchases.
The conclusions OF the conference
The entire marketing situatioa has
SC changed since the September joint
conference as 10 necessitate an entire
alteration IN the plans or price stabi-
llzation. The current peace talk has
alarmed the holders OF corn, and there
has been a price decline Of from 2
cents 10 30 cents per bushel. The fact
that the denominations Of low priced
corn IN the Argentine and South AfrI-
ca would. upon the advent OF peace
III liberated shipping, become ayaila-
bic TO the European market has Gre
ated 4 great deal OF apprehension on
the part 81 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, If incorporated In q 13-to-1 ra-
ito, obviously result in a continuously
falling price for live hogs. In view
Of these changed conditions many
swine producers anticipated lower
prices n as a result rushed their
hogs to market IN large numbers, and
this overshipment has added 10 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 unofficial esd-
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 p per
e more than last year. during the
corresponding period. demonstrating
tie unusually heavy marketing Of the
nyaIla 10 supply. In the face OF the
excessive receipts some packers have
not maintained the price agreed last
month. On the other hand. many
o. the packers have paid over the
price offered to them IN an endeavor
10 maintain the agreed price. The re
t.lkA Il ELI GEEAA us OGlA q A4AA4AC
Is maintain the October price basis
determined upon at the September con-
terence and undertaken BY the pack
ers. Another factor contributing to
tho 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 stan OF the packers
about 25 per cent
Tho exports OF 100000 pounds
Of pork products for October COM
pared with about 100000 pounds
IN October a year ago, and the
export orders placeable by the Food
Administration for November, amount
10 170.00O,O0O pounds as contrast
ed with the lesser exports Of
100000 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
fstratlon asked. The Increase IN ex-
port demands appears to be amply
sufficient to take up the increase In
hog production, but u~nfavorable mar
ket conditions existing in october af-
ford no 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-
dltional demands for pork products
which. On top OF the heavy shipments
to the Allies. would tend materially
70 Increase the American exports. In
asuuch as no considerable reservoir Of
supplies exists outside OF the United
States It seems probable that the
present prospective supplies would be
inadequate to meet this world demand
with the return TO peace. SO far as It
is possible to interpret this fact. It 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 u-nwarranted by the outlook.
II the light Of these circumstances
fl 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
L. IS the conclusion that any ~lnterpre-
tatlon ar the formula should be a
broad gauged policy applied over a
long period. II IS the opinion az the
conference that IN substitution Of the
previous plans Of stabilization the
Live Stock subcommittee of the Aeri-I
cultural Advisory Board, together with
the specially invited swine representa-
lives. should accent the invitation Of
the Food Administered on TO join with
the Administration and the packers Ia
determining the prices at which con
trolled export orders are to be placed
This VIII be regularly done. The IN
nuence Of these orders VIII be directed
to the maintenance of the common OBJ
ject-namely, the stabilization OF the
price of live hogs So rs TO secure as far
as 1t is possible fair returns to the
EHAT0NALA