The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1918-11-22

The entire marketing sltu"tioh ""'
so changed since the September joint
conference as to necessitate an entlre
alteration in the plans of price staDl-
lization. The current peace talk has
alarmed the holders OF corn, and there
has been a price decline of from 20
cents to 40 cents per bushel. The fact
that the accumuations of low priced
corn I'm the Argentine and South Afri-
ca would, upon the advent OF peace
and liberated shipping, become availa-
bile to the European market has Gre
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-to-l 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 result rushed their
hogs to market In large numbers, ana
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 y 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
to maintain the agreed price. The re-
suit in any event has been failure
to maintain the October price basis
determined upon at the September con-
terence 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 % per cent.
The exports Of 100000 pounds
of pork products for October COM
pared with about 52,0OO,OOO pounds
In October year ago, ana the
export orders placeable by the Food
Administration for November, amount
to 17OOOO,000 pounds as contrast
cd with the lesser exports Oh
eS.OOO.OOO for November, 1917. Inc
increased demands of the allies are
continuing, and are In themselves
proof of the necessity for the large
production for which the Food Admin
istratfon asked. The increase in ex-
mort demands appears to be amply
sufficient to take up the Increase III
hog nroducti N, but unfavorable mar
ket conditions existing In OCTOBER al
ford no fair index of the aggregate
supply and demand.
II must be evident that the ehor.
NOUS shortage in fats in the central
Eunires and neutral countries wouio
Immediately upon peace result In al
ditional demands for pork products
which, on top of the heavy shipments
IN the Allies. would tend materially
70 increase the American exports, In
asmuch as no considerable reservoir OF
sunnlies exists outside of the United
states II seems probable that the
present prospective supplies would Dc
Inadequate TO meet this world demand
with the return to peace. So far as i
IS possible to interpret this fact, 1t ap
pears that there should be even
stronger demand for pork products
after the war, and therefore any alarm
of hog producers as to the effect o.
peace is unwarranted by the outlook.
Tn the light of these circumstances
n IL the conclusion Of the conference
that attempts to hold the price of hog
to the price of corn may work out Z
the disadvantage of pork producers
II Is the conclusion that any interpre
tation of the formula should be
broad gagged policy applied over
long period. 1t is the opinion of tn
conference that In substitution Of tn
previous plans of sterilization TIL
Live Stock Subcommittee of the Agrl
cultural Advisory Board, together wit
| .bo snac;ollv invited swine representa-
tiyes. should accept the invitation o
the Food Administration to join wit
the Administration and the packers !
determining the prices at which cor
trolled export orders are to be placed
This will be regularly done. The In
nuence Of these orders will be directe
to the maintenance Of the common OF
i ject-namely, the sterilization of tn
price of live hogs so as to secure as ia
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