Milford chronicle., 1918-11-15

executive committee OF the fifty pack
for pork products and with the memb,
foreign pork purchases.
The conclusions Of the conference
The entire marketing situation has
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 a price decline OF from %
cents to 40 cents per bushel. The fact
that the accumulations 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
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 a 13-tO-1 ra-
ito, obviously result in q continuously
falling 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 overshlpment has added TO and
aggravated the decline
The information of the Department |
Of Agriculture indicates that the sup |
ply of hogs has increased about s 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 p 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 IN an endeavor
10 maintain the agreed price The re- I
suit in any event has been failure
to maintain the October price basis
determined upon at the September con .
ference and undertaken by the pack =
crs. Another factor contributing to I
the break in prices during the month r
has been the influenza epidemic; il :
has sharply curtailed consumption OF :
pork products and temporarily de- r
creased the labor staff Of the packers a
about % per cent. f
The exports of l30OO0OOO pounds Il
OF pork products for October com n
pared with about 52.OOOOOO pounds n
in October a year ago, and the p
export orders placeable by the Food
Administration for November amount
TO 170,OOO0O0 pounds as contrast
ed with the lesser exports Of o.
9S,0000OO for November, 1917. The
increased demands of the allies are o.
continuing, and are in themselves p
proof OF the necessity for the large 81
production for which the Food Admin n
istration asked. The increase in ex- c
port demands appears to be amply m
sufficient 20 take up the Increase in r
hog production. but unfavorable mar 9,
Set conditions existing In October af- nj
ford no fair index Of the aggregate 81
supply and demand. ca
1t must be evident that the enor- n,
nous shortage in fats IN the Central do
Empires and neutral countries would &c
upon peace result in ad- Ii,
iitional demands for pork products M
which, on top Of the heavy shipments n
o the Allies, would tend materially of
o Increase the American exports, in 81
ismuch as no considerable reservoir of 4b
supplies exists outside Of the United
states It seems probable that the IN
resent prospective supplies would be po
to meet this world demand fe
With the return TO peace. So far as It no
S possible to interpret this fact. it ap- lin
'ears thai there should be even a tb
tronger demand for pork products er
fter Eie war, and therefore any alarm be
f hJg producers as to the effect of cl,
.ezce is unwarranted by the outlook.
IN the light of these circumstances co
IS the CONCLUSION OF lle conference no
hat attempts TO hold the price Of hogs ev
o the price OF corn may work out to ce
he disadvantage of pork producers. on
/ IS the conclusion that any interpre- trC
alton of the formula should be a this
road gagged policy applied over a bu
ing period. 1t is the opinion Of the col
difference that in substitution Of the Ell
% eknhf1f.aeaa- o
I've Stock Subcommittee Of the Agri- pre
lltural Advisory Board, together with ass
e specially invited swine representa- sen
YES, should accept the invitation Of eff
e Food Administration to Join with hos
e Administration and the packers in pro
.termining the prices at which con- ing
oiled export orders are to be placed. pol
IL ha ronrrfor1u dnua Tho In