Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1918-12-06

iization. The current peace talk mas +
alarmed the holders of corn, and there /
has been a price decline of from % |
cents to 40 cents per bushel. The fact |
that the denominations Of low priced I
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 q similar reduction in the prices
of hogs would naturally follow. More
over, the lower range Of corn prices
would, If Incorporated in a l3-to-1 ra-
ito, obviously result in a continuously
falling price for live hogs. In view
CT 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 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 q 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
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 % per cent
The exports of 100000 pounds
of pork products for October COM
pared with about 100000 pounds
in October year ago, and the
export orders placeable by the Food
Administration for November, amount
to 100000 pounds as contrast
ed with the lesser exports Of
9S,00O,0o0 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
lstration asked. The increase in ex-
port demands appears TO be amply
sufficient to take up the increase in
hog production, but unfavorable mar
ket conditions existing in October at
ford no fair index of the aggregate
supply and demand.
1t must be evident that the enor-
nous shortage in fats in the Central
Empires and neutral countries would
Immediately upon peace result in ad-
ditional demands for pork products
which, on top of the heavy shipments
10 the Allies, would tend materially
to increase the American exports, in
asmuch as no considerable reservoir of
supplies exists outside of the United
States. 1t seems probable that the
present prospective supplies would be
Inadequate TO meet this world demand
with the return to peace. SO far as it
is possible to interpret this fact, ii APP
pears that there should be even
stronger demand for pork products
after the war, and therefore any alarm
Of hog producers rs to the effect Of
peace is unwarranted by the outlook.
In the light of these circumstances
1t is the conclusion of the conference
that attempts TO hold the price of hogs
10 the price of corn may work out to
the disadvantage of pork producers.
1t is the conclusion that any interpre
tation of the formula should be
broad gagged policy applied over a
long period 1t 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-
tives, should accept the invitation OF
the Food Administration to join with
the Administration and the packers In
determining the prices at which con
rolled export orders are to be placed |
This will be regularly done. The in
duence of these orders will be directed
60 the maintenance of the common OBJ |
;ect-namely, the sterilization of the |
price of live hogs so as to secure a. Ia |
is Il " possible fair returns to the |
producer and the insurance of an ade |
quate future supply.
These foreign orders are placed |!
upon the bass of cost of hogs to the |
packers
AS the result of long negotiations |
between this body and the Packers
Committee, representing the 40 to 90 |
packers participating in foreign or |
ders together with the Allied buyers |
all under the Craftsmanship of thu |
rood Administration, the following un
dertaking has been given by the pack
ers:
In view of the undertakings on the
part of the Food Administration with
regard to the co-ordiaated purchases
of pork products, covered In the at /
tached. II is agreed tsat the packers
participating in these orders will UNI
dertake not to perrlasl i4s..s for less
than the following agreed minimums
l9r The month d November, frat is y
s'asly minimum OF @tlJO per hundred
s;ses on average of packers droyes.
s..siudiug throw-outs 'srhrow-outs.
TO be defined as pigs under $50
pounds. stags, bears, thin sows and
skips- Further that no hogs Of any
Kind shall be bought except throw
outs, at less than S1650 per hundred
bounds The average Of packers
'lroves to be construed as the average
- fha tnEal sales u the market Of al