The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1918-11-28


The conclusions of the conference
The entire marketing situation has
40 changed since the September joint
conference as to necessitate an entire
alteration In the plans OF price stabi-
ilzation. The current peace talk has
alarmed the holders Of corn, and there
las been a price decline Of from 20
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 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, II Incorporated In l3-to-l ra-
ito. obviously result In continuously
falling price for live hogs. In view
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
DIV of'hogs has increased about 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 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
TO maintain the agreed price. The re-
suit In any event has been a failure
TO maintain the October price basis
determined upon at the September con-
ference and undertaken by the pack
iers. Another factor contributing to
The break In prices during the month
has been the influenza epidemic; II
has sharply curtailed consumption Of
pork products and temporarily de-
creased the labor staff of the packers
about Is per cent.
The exports Of 13O.OOO.OOO 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
10 1TO.OOOOO0 pounds as contrast
ed with the lesser exports OF
.9S,OOO.OOO for November. 1917 The
Increased demands Of the allies are
continuing, and are In themselves
proof of the necessity for the lnrge
production for which the Food Admin
1stration 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 az
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 adj
tlitional demands for pork products |
which, on top of the heavy shipments |
to the Allies, would tend materially |
ITO 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 II |
is possible to Interpret this fact. II ap- |
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
1t is the conclusion of the conference
that attempts to hold the price of hogs
10 the price Of corn may work out 10
the disadvantage of pork producers.
1t IL the conclusion That any interpre
tation of the formula should be
broad gagged policy applied over
long period. 1t Is the opinion of the
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-
tiyes, Should accept the invitation of
the Food Administration to join with
the Administration and the packers in
the prices at which con-
trolled export orders are to be placed
This will be regularly done. The in
fuence Of these orders Will be directed
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