The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1918-12-20

49,
convened In Washington a meeting q
Agricultural Advisory Board and the
; Industry 10 consider the situation In Il
The conference Taste. FOR three d
executive committee Of the fifty pack
for pork products and with the membs
foreign pork purchases.
The conclusions Of the conference
The entire marketing situation has
% changed since the September Join,
conference as to necessitate MI entire
alteration In the pluns Of price siaAi-
l~izatiOn. The current peace talk i,as
alarmed the holders Of corn. and iuA.
has been a price decline Of fr"n ..
cents to 40 cents per bushei rf'' iari
that the accommodations Of low piced
corn in the Argentine ant ,ouil A.I,-
ca would. upon the advent Of peace
and liberated shipping, BECOME ~a,aiia'
bic to the European market has re
sled a great deal of apprehension on
the part Of corn holders. This decline
has spread fear among swine grow erS
that ~ similar reduction in the prices
Of hogs would naturally follow. More
over, the lower range of cor prices
would, n Incorporated in o 13-tO-1 RI
ito, obviously result In a continuously
falling price for live hogs. IN ,ipv
Of these changed conditions mai,
swine producers anticipated lower
prices and as a result rushed Their
hogs to market In large numbers. ahd
this Oversilipment 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 unofficial esti-
mate does not exceed ID 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 las been y per
cent. more than last year, during the
corresponds period, demonstrating
the u%nusuriiy heavy marketing of the
available supply. In the face Of the
excessive receipts somc packers have
not maintained the price agreed last
month. On the other hand, many
Of the packers have paid over the
price offered TO item IA an cIdcavor
to maintain the agreed price. The re-
suit in any e has been n future
to maintain the October price basis
determined upon al 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; it
has sharply curtailed consumption of
pork products and temporarily de-
creased the labor staff of the packers
about % per cent.
The exports Of 3 O,O00.000 pounds
Of pork products for October ON
pared with about 100000 pounds
In October n year ago, and the
export orders %plnceable by the Food
Administration for November, amount
to 10000. 900 pounds rs contrast
ed with The lesser exports OF
% ,NO,00C for November, 1917. The
increased t!cm3nds Of the allies are
continuing. rnd are IN themselves
proof Of The necessity for the large
procr.,ion for which the Food Admin
istiali0n asked. The increase in ex-
port demands appears 10 be amply
sufficient TO t:k" mp the increase In
hog product ~, hut unfavorable mar
bet conditions existing in October ar
ford no fai, index Of the aggregate
supply and demand. .
1t must be evident that the enor-
nous shortage In fats In the Central
Empires md neutral countries would
Immediately unnn peace esuit In adj
iI,icnal demands Tor pork pr""iucts
which, on top Of DE heavy shipments
to the Allies, would tend materially |
to Increase the American exports, in
asmuch as no considerable reservoir Of
supplies exists outside OF the United
States. 1t seems probable that the
present prospective supplies would be
Inadequate TO meet this world demand
with the return to peace. So far as it
ID possible to interpret this fact, 1t APP
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 unwarranted by the outlook.
In the light Of these circumstances
It 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 Ii the conclusion that any interpre-
tation Of the formula should he a
broad gagged policy applied over q
long period. 1t is the opinion Of the
conference that In substitution OF the
previous plans Of sterilization The
Live Stock Subcommittee OF the Agri-
cultural Advisory Board, together with
the specially invited swine representa-
should aCcQpt The Invitation oil