Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1918-12-12

so changed since the September Joint
conference as to necessitate an entire
alteration In the plans of price stabi-
lization. The current peace talk has
alarmed the holders Of corn, and there
has. been price decline of from 70
cents to 40 cents per bushel. The fact
that the accumuiations 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 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, If incorporated in l3-to-1 ra-
tic, obviously resust 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 their
hogs to market in large numbers, and
this overshSpment has added to and
aggravated the decline.
The information of the Department
of Agriculture indicates ahat 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 mas been ~ per
cent. more 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 the other hand, many
of the packers hsge paid over the
price offered to tisssn in an endeayor
no maintain the a~a@ed price. The re
suit in any event aas been a failure
to maintain the october price basis
determined upon as,1he September con-
ference and undertaken by the pack
ers. Another fac~5r contributing to
the freak in prices during the month
has been the infllssaza epidemic; 1t
has sharply curtailea consumption of
pork products and temporarily de-
creased the labor .staff of the packers
about 25 per cent
The exports of 10000. 900 pounds
of pork products for October COM
pared with about 5000 900 pounds
in October a year ago, and the
export orders plaeeable BY the Food
Administration for November, amount
to 17GO0o,000 pounds as contrast
ed witt, the lesser exports of
$4,000, 600 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 unfaEorable naar-
ket conditions existing In October af-
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 adj
fiitional demands for pork products
which, on top of the heavy shipments
to the ALLIES, would tend materially
TO Increase the American exports, In
asnnch as no considerable reservoir of
supplies exists outside of the United
States. II seems probable that the
present prospective supplies would be
inadequate to meet this world demand
with the return to peace. So far as it
lis possible to interpret this fact, it 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 Or pork producers.
1t is the conclusion that any interpre
fation Of the formula should be i
broad gagged policy applied over a
long period. 1t i the opinion Of tbs
conference that Ia substitution Of the
previous plans Of sterilization Che
Live Stock Subcommittee Of the Agri
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
trollei export orders are to be placed |
This will ba regularly done The in
fluence OF these orders will be directed
to the maintenance of the common OBJ |
jeet namely, the stabilizatioh of the
price of 1--we hogs so as to secure as far
~ Il Is possible fair returns TO the