The Nevada County picayune., 1918-12-05

con renee as to necessitate an entire alteration In the plans of price staol- Iixation. The current peace talk mas alarmed the holders of corn, and there has been q price decline of from 70 cents to 4O cents per bushet. The fact that the accumulations of low priced corn in the Argentine and south Atrl= ca would. upon the advent of peace and liberated shipping, become aNtlla- ble to the European market has ere ated a great deal of apprehension on the part of corn holders. This decline has spread fear among swine growers that a similar reduction in the prices of hogs would naturally follow. More. over, the lower range of corn prices would, If incorporated in 13-tol ra. to, obviously result in continuously failing price for live hogs In view Of these changed conditions many swine producers anticipated lower prices and as 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 per cent. while the highest unofficial esti- mate does not exceed f5 per cent. ia- creased production over last year. Oh the other hand the arrival of hogs during the last three weeks in the seven great markets has been - per cent. moro than last year. during the corresponding period, demonstrating the unusually heavy marketing of the available supply h the face of the excessive receipts some packers have not maintained the price agreed last month. On thc other hand, many of the packers haye paid over the price offerpd to fhem Ia an endeavor to maintain theasreed price. The re suit In any event has been a failure to maintain the October price basis determined upon at the September con terence and undertaken by the pack CTS. 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 25 per cent.
 The exports of t3o.O000o pounds of pork products for October com pared with about 52.ooo,000 pounds In October year ago, and the export orders placeable by the Food Administration for November, amount to l70OoO,oO0 pounds as contrast ed with the lesser exports or 9s. aO0 O0O for November, 1917. The increased demands of the allies are continuing, and are 'n themselves proof of the necessity for he large production for which the Food Admin- Istration asked The increase in eX- port demands appears to b. amply sufficient to tsi=e up the increase lh hog product iu. hut uufayorable mar ket conditions existing in October ar ford no fHtl index of the aggregate supply and demand.
 IL must be evident that he enor- nous shortage h fats in the Centrai Empires and neutral countries would immediately upon peace result in adz dttfonal demands for pork products which. on top of the heavy shipments to the Allies would tad materially to increase thc American exports, in asmuch as no cons 5leraAle reservoir of supplies eN >,> outside of the United Smtes Ii secas probable that the present prospective supplies would he lu8deauate to meet this world demand with the return to pence. Su far aS 1T Is possible 10 interpret this fact, II ap. pears that there should hc even stronger demand for pork products aftpr the war, and therefore my alarm of hog producers as 10 the effect of peace ls unwarranted by the outlook,
 Tn the light of these circumstances lt is the conclusion of the conference" that attempts to hold the price of hogs ta 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 broad gauged policy applied over long period It Is the opinion of the conference that In substitution of the previous plans of stabilizatiOn the Live Stock Subcommittee of the Agri- cultural Advisory Board. together with the specially invited swine representa- lives, 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 The ih fuence of these orders will be directed to the maintenance of the common ob- ject--namely the stabilization of the nrice nf live hogs SO as to secure as fur ss II is possible fair returns to the