Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1918-11-28
the conference were as followsi

alteration In the plans Of price staoi-
lization. The current peace talk has
alarmed the holders Of corn. and there
has been a price decline Of from 70
cents to 40 cents per bushel. Inc ract
that the accumulations Of low priced
corn in the Argentine and South A1ri-
ca would, upon the advent OF peace
and liberated shipping, become aVaiia-
BILE to the European market has Gre
ated great deal Of apprehension on
the part of corn holders. This decline
has spread fear among swine growers
that similar reduction in the prices
of hogs would naturally follow. More
over, the lower range Of corn prices
would. IL Incorporated in 18-to-l 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 q result rushed their
hogs to market In large numbers, and
this overshipment has added to ana
aggravated the decline.
The information of the Department
Of Agriculture indicates that the sup
ply Of hogs has increased about 3 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 II 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 10 an endeavor
to maintain the agreed price. The re-
suit in any event has been a 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 Fooa
Administration for November, amount
to 17OOOO,O00 pounds as contrast.
ed with the lesser exports OK
100000 for November, 1877. The
increased demands Of the allies are
continuing, and are 10 themselves
proof of the necessity for the large
production for which the Food Admin
istration asked. The increase IN ex-
mort demands appears to be amply
sufficient to tako up the Increase IN
hog production, but unfavoraDie mar
ket conditions existing IN OCTOBER az
ford no fair index Of the aggregate
supply and demand
II 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 prooucts
which, on top Of the heavy shipments
TO the Allies, would tend materially
N Increase the American exports, In
asmuch as no considerable reservoir or
supplies exists outside Of the United
States. II seems probable that the
present prospective supplies would De
Inadequate to meet this world demand
with the return to peace. So far as lt
IA 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
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 q
broad gagged policy applied over
long period 1t Is the opinion Of the
conference that In substitution Of the
previous plans Of sterilization the
Live Stock Subcommittee Of the Agrf-
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. Inc M
fuence of these orders will be directed
to the maintenance Of the common oo7
ject-namely, the sterilization OF the
price Of live hogs 30 as to secure as Iai
as It Il possible fair returns TO inc
producer aud ne Insurance Of an adei
auate future stppiy.
These foreigu orders are placed
upon the basis Of cost Of hogs to the
pAckera
Az the result pf long pegetiations
between THE body and tie PaeksrS
Committee, representing the d to 80
packers participating In foreign ON
ders, together with the Allied buyers
all under the Craftsmanship Of the
Food Administration. the following I'M
dertaking has been given By the pact.
ers:
In view of the undertakings on the
part Of the Food Administration with
regard to the co-ordinated purchases
OF pork products, covered In the at.
tached, 1t is agreed that the packers
participating In these orders viii un-
dertake not to purchase hogs for less
than the following agreed minimums
FOR the month Of November, that Is q
daily minimum of $3.50 per hundred
bounds on average Of packers droves,
excluding throw-outs "Throw-outs"