The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1918-11-21

~ ~AN
10 changed since the September joint
conference as to necessitate an entire
ALTERATION In the plans Of price stabi-
llization. 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 accommodations Of low priced
corn in the Argentine and South Afri-
lea would, upon the advent Of peace
and liberated shipping. become avail
able to the European market has Gre
hted 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 a 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 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 Is 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 u 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
mot maintained the price agreed last
month. On the other hand, many
LOT the packers have paid over the
lprice offered to them in an endeavor
Ito maintain the agreed price. The re-
Isult in any event has been a. failure
Ito 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; 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 10000, 900 pounds
LOT pork products for October CON-
pared with about 100000 pounds
lin October a year ago. and the
export orders placeable by the Food
Administration for November, amount
Ito 1%7O,OOO,OOO pounds as contrast
led with the lesser exports of
los, OOO, 900 for November, 1917. The
Increased demands Of the allies are
continuing, and are in themselves
proof Of the necessity for the large
lproduction for which the Food Admin
Iistration asked. The increase in *
port demands appears to be amply
sufficient to take up the increase in
hog production, but u~nfavorable mar
lket conditions existing in October af-
ford no fair index Of the aggragate
supply and demand.
Il must be evident that the enor-
Imous shortage In fats In The Central
Empires and neutral countries would
Immediately upon peace result In ad-
tditional demands for pork products
which, on top of the heavy shipments
Ito the Allies, would tend materially
Ito Increase the American exports, In
|asmuch as no considerable reservoir of
supplies exists outside Of the United
IStatesJ It seems probable that the
present prospective supplies would be
inadequate to meet this world demand
with the return to peace. So far as It
liz possible to interpret this fact, it ap-
pears that there should be ven a
stronger demand for pork products
after the war, and therefore any alarm
lof hog producers as to the effect Of
|peace is unwarranted by the outlook.
In the light Of these circumstances
ht Il the conclusion Of the conference
that attempts to hold the price Of hogs
Ito the price Of corr may work out to
1.-THE disadvantage Of pork producers.
lit Is the conclusion that any interpre-
ltation Of the formula should be a
broad gagged policy applied over a
long period. It is the opinion Of the
conference that In substitution Of the
previous plans OF sterilization the
Live Stock Subcommittee of the Agri-
cultural Advisory Board, together with
the specially invited swine representa-
itives, 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 + to be placed.
This will be regularly done. The In
nuence Of these orders will be directed
rs the maintenance OF the common OBJ
i1ect-namely, the sterilization Of the
price of live hogs 80 % to secure % far
~ 4 = possible fair returns = -
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