The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1918-11-14

Tor pork products ana Win the meihpe
foreign pork purchases.
The conclusions of the conference
The entire marketing situation has
20 changed since the September joint
conference as to necessitate an entire
alteration In the plans Of price stabi-
lixation. The current peace talk has
alarmed the holders Of corn, and there
has been a price decline of from 20
cents to 40 cents per bushel. The facr
that the accumulations Of low priced
corn In the Argentine and South Afri-
ca would, upon the advent of peace
and liberated shipping, become ayaila-
Bile to the European market has ere
ated q great deal of apprehension on
the part OF corn holders. This decline
has spread fear among swine growers
that q similar reduction In the prices
Of hogs would naturally follow. More
over, the lower range of corr prices
would, II Incorporated In a 13-to-1 ra'
ito. obviously result In a continuously
failing price for live hogs. In view
OF these changed conditions many
swine producers anticipated lower
prices and as a result rushed theii
hogs to market In large numbers, ant
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 5 per
cent, while the highest unofficial esti-
mate does not exceed Is per cent. In
creased production oyer 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 the
corresponding period, demonstrating
the unusually heavy marketing OF the
available supply. In the face OF the
excessive receipts some packers have
not naintained 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
oult ii any event has been q failure
10 maintain the October price basis
determined upon at the September con-
tsrsnce and undertaken by the pack.
en- Another factor contributing to
the break In prices during the month
has been the influenza epidemic; II
has sharply curtailsd consumption OF
pork products and temporarily de-
creased the labor stan of the packers
about - per cent.
Tho ezports Of 130.000,000 pounds
Of pork products for October com
pared with about 100000 pounds
a October d year ago, and the
export orders placeable by the Food
Administration for November, amount
70 17O,O00,O0O pounds as contrast
"a with the lesser exports OF
100000 for November, 1917. tn
increased demands Of the allies are
continuing, and are In themselves
proof Of the necessity for the large
production for which the Food Admin
ietrotion asked. The increase In ex
port demands appears to be amply
Duflcient to take up the Increase IL
hog producti,n ~, but unfavorable mar
net conditions existing In October al
ford no fair index Of the aggregate
supply and demand.
II must be evident that the enor
nous shortage In fats In the Contra
Empires and neutral countries woult
Immediately upon peace result In ad
ditional demands for pork product
which, on top OF the heavy shipment
10 ne Allies, would tend MATERIAL,
% increase the American exports. In
nsmuch q no considerable reservoir 0
supplihs exists outside Of the Unite'
States. 1t seems probable that tn
present prospective supplies would b
inadequate to meet this world deman'
With the return to peace. So far as !
= possible to interpret this fact, 1t ap
peafs that there should be even
stronger demand for pork product
after he war, and therefore any alarm
o. hog producers as to the effect o
peace IL unwarranted by the outlook.
In the light Of these circumstance
Il u the conclusion Of the conferenc
int attempts to hold the price Of hog
20 the price Of corn may work out t
fhe disadvantage Of pork producers
It il the conclusion that any interpre
tation OF the formula should be
broad gauged policy applied over
long period. II Is the opinion Of tn
conference that In substitution Of tn
previous plans Of sterilization tn
Lave Stock subcommittee Of the Ayr
cultural Advisory Board, together wit
the specially invited swine representa-
1lveo. should accept the invitation 9
~ FOOD Administration to join wit
~ Administration and the packers
1ckmmfning the prices at which cor
txollo1 export orders are to be placed
TIL win - regularly done. The II
on0nco q these orders VIII be directe
maintenance % the common 81
Sce-anmely. he stabilization Of III
~ I've hDGr NJ - Ia secure a. "a