The Robesonian., 1918-11-25

The conference lasted for three da
executive committee Of the fifty packin
for pork products and with the member
foreign pork purchases.
The conclusions of the conference 7
The entire marketing situation has
80 changed since the September joint
conference as to necessitate an entire
ALTERATION in the plans Of price stabi-
ilization The current peace talk has
alarmed the holders Of corn, and there
has been a price decline of from 70
Icents to 40 cents per bushel. The fact
that the accumulatlons Of low priced
corn in the Argentine and South Afri-
Ca would, upon the advent Of peace
and liberated shipping, become avail
able to the European market has ere
lated a 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, II incorporated In l3-to-1 ra-
tito, obviously result in continuously
falling price for live hogs. In view
,of these changed conditions many
Swine producers anticipated 3 lower
jprices 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 per
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 2 per
cent. more than last year, during the
corresponding period, demonstrating
the unusually heavy marketing Of the
available supply. In the face Of the
iexcessive receipts some packers have
month. On the other hand, many
iof the packers have paid over the
iprice offered to them In an endeavor
Ito 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; it
has sharply curtailed consumption Of
pork products and temporarily de-
creased the labor staff Of the packers
about 25 per cent.
The exports of 13O,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 17O,OOO,O0O pounds as contrast.
ed with the lesser exports Of
0e,OOO,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
.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.
1t must be evident that the enOr
nous shortage in fats in the Centra
Empires and neutral countries wOult
Immediately upon peace result In ad
,ditional demands for pork prOduct
which, on top Of the heavy shipment
ito the Allies, would tend materiall
to Increase the American exports, in
asmuch as no considerable reservoir O
supplies exists outside Of the Unite
States. 1t seems probable that tn
tpresent prospective supplies would b
inadequate to meet this world deman
with the return to peace. So far as
Is possible to interpret this fact, 1t al
pears that there should be even
stronger demand for pork produc
after the war, and therefore any alar
, of hog producers as to the effect
peace is unwarranted by the outlook.
In the light of these circumstanc
it Is the conclusion Of the conferen
that attempts to hold the price of ho
to the price Of corn may work out
the disadvantage Of pork producer
1t Is the conclusion that any interpl
tation of the formula should be
broad gauged policy applied over
long period. 1t Is the opinion Of t
conference that In substitution of t
iprevious plans Of stabilization t
Lave Stock Subcommittee Of the Ag
Icultural Advisory Board, together wi
{the specially invited swine represent
ltives, should accept the invitation
the Food Administration to Join WI
the Administration and the packers
determining the prices at which q
srolled export orders are to be plac
This will be regularly done. The
fluence Of these orders will be direc,
to the maintenance of the common