The Holly chieftain., 1918-11-21

Il hogs would naturally follow. More
aver. the lower range OF corn prices
would. II Incorporated in q l3-to-l ra-
fio, obviously result In continuously
falling price for live hogs. In view
If these changed conditions many
swine producers anticipated lower
prices and ~ . result rushed their
hogs to market In large numbers and
his 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 8 per
cent, while the highest unohicial 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
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 endeavOr
TO maintain the agreed price. The re-
suit In any event has been failure
to maintain the October price busix
determined upon at 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 curtailed consumption Of
pork products and temporarily de-
creased the labor staff Of the packers
about % per cent
The exports Of l3O,OOO.OOO 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 l7OO0O,O00 pounds as contrast
ed with the lesser exports Of
9SOOO.OOO 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
tstration asked. The Increase in ex-
port demands appears to be amply
sufficient to take up the increase In
hog production. but unfavorable 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-
ditional demands. for pork products
which, on top; Of the heavy shipments
to the Allies, would tend materially
to increase the American exports, In
asmuch as snosconsiderable, reservoir OF
supplies exists outside of the United
States. 1t seems probable that the
present prospective supplies would be
inadequate to- otmeet this world demand
with the return to peace. So far rs 1t
is possible to interpret this fact, 1t 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 che light Of these circumstances
1t Ii 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.
1t il the conclusion that any interpre-
tation Of the formula should he 4
broad gauged policy applied over a
long period. It IL the opinion of the
conference that in substitution of the
previous plans Of stabilixation' the
Live Stock Subcommittee Of the Agri-
cultural Advisory Board, together with
the specially invited swine representa-
tives, should accept the invitation 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 will be regularly done. The In
nuence Of these orders will be directed
to the maintenance Of the common OBJ
ject namely, the stabilization Of the
price Of live hogs 10 as to secure a. far
az It d possible fair returns to IL
DFodocsf and IL Insurance Of an ade.
s1ats future supply.
1hsss foreign orders are placed
upon the basls of cox q hoev to the
packers.
AZ the result & loos negotiations
be'ween this body and the Packees'
Committee, representing tAs l5 to 30
packers participating n fossisn or
ders. together with tie Allied buyers,