The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1918-11-22

Tho entire marketing situation
-. changed since the September 10.
.,,,sorance as TO necessitate an entil
,,,aration in the plans Of price stabi-
n,o.ton The current peace talk has
alarmed the holders of corn, and there
,os been price decline of from 25
,snts 70 80 cents per bushel. The fact
,,o+ the accumulatIuns of low priced
,or, IN the Argentine and South Afri-
"a would. upon the advent of peace
and liberated shipping, become avafla-
lie 70 tho European market has Gre
sted a 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
over, the lower range of corn prices
would IL Incorporated in a 13-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 a result rushed their
h 6 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 the highest unofficial esti-
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
sever great markets has been 81 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 packers have paid over the
price offered to them In an endeavor
70 maintain the agreed price. The re-
suit in any event has been a failure
10 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 staff Of the packers
about % per cent.
Tie exports of 13O,OOO,O0o 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 |
to 100000 pounds as contrast |
cd 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
s.ration asked. The Increase in ex-
port demands appears to be amply
sufficient to take up the increase In
hog production, but unfavorable mar
bet conditions existing In October at
lord 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-
lIdonaI demands for pork products
Hhich on top of the heavy shipments
% the Allies. would tend materially
Increase the American exports, In
sSmuch as no considerable reservoir of
n lpplies exists outside of the United
S2tes. Ii seems probable that the
resent prospective supplies would be
adequate to meet this world demand
''n the return to peace. So far as 1t
possible to interpret this fact, 1t APP
aS that there should be even a
4Qhger demand for pork products
eF the war, and therefore any alarm
aog producers as to the effect of
sue Is unwarranted by the outlook
the light of these circumstances
he conclusion of the conference
attempts to hold the price Of hogs
~e price OF corn may work out to
u@dvantage of pork producers.
~ ~ TIE conclusion that any interpre-
Ol Of the formula should be a :
su gauged policy applied over
y, period. 1t Is the opinion Of the
''a 'h"t in substitution Of the
plans of sterilization the
~, sock Subcommittee of the Agri-
'aIN Advisory Board, together with 9
seos specially invited swine representa- $
as should accept the Invitation of G
NJ ,Vou Administration to join with /
is,.. '!I'lnistrntion and the packers In I
ham, ing the prices at which con- /
ns export orders are to be placed. e
iss,,s. VII be regularly done. The in {
H. N. OF these orders will be directed S
M. maintenance of the common OBJ
Nj ,dc. ~. .e.nely' the sterilization of the I
Ia /, y, i've hogs so as to secure as far I
possible fair returns to the b