The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-11-29
STEADIER hoe MARKETS PLANNED
Hoo Producers and Packers Confer With Repre-
sentatives Of the Food Administration and
Agricultural Department and Adopt
New Plan Of Regulation.

In accordance with the policy Of
ton to consult representative men Il
Of importance to special branches OF
convened In Washington q meeting
Agricultural Advisory Board and the
industry to consider the situation IN
The conference lasted for three
executive committee of the fifty pack
for pork products and with the memb
foreign pork purchases.
The conclusions ofsthe conference
The entire marketing situation ha
80 changed since the September Join
conference as to necessitate an ent1r'
alteration in the plans of price stab
Hzation. The current peace talk ha
alarmed the holders Of corn, and Their
has been a price decline OF from =
cents to 40 cents per bushel. The fac
that the Accommodations Of low priced
corn in the Argentine and South Afrl
ca would, upon the advent Of peace
and liberated shipping, become avail
able to the European market has ere
ated a great deal of apprehension OF
the part Of corn holders. This decline
has spread fear among swine grower
that a similar reduction in the prices
of hogs would naturally follow. More
over, the DOVER range Of corn prices
would, If incorporated in a 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 and as q 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 8 pei
cent, while the highest unofficial esti-
mate does not exceed 10 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 n per
cent. more than last year. during thu
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 basis
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; 1t
has sharply curtailed consumption OF
pork products and temporarily de-
creased the labor staff of the packers
about Is per cent
The exports Of 100000 pounds
of pork products for October COM
pared with about 100000 pounds
in October q year ago, and the
export orders placeable by the Food
for November, amount
to 17O,OOO,OOO 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
istration 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 at
ford no fair index Of the aggregate
supply and demand.
It must be evident that the enor-
nous shortage in fats in the Central
Empires and neutral countries would
Immediately upon peace result in ad-
ditienal 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 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 1t
10 possible to interpret this fact, 1t ap-
pears that there should be even q
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
II 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.
It Is the conclusion that any interpre-
tation Of the formula should be a
broad gagged policy applied over a
long period. It 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
tho specially invited swine representa-
.hculA accent the invitation of