The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1918-11-29

executive committee of the fifty pack
for pork products and with the membe
foreign pork purchases.
The conclusions of the conference
The entire marketing situation has
80 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 availa'
BILE to the European market has Gre
Rted 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, IL incorporated in 13-to-1 ra-
ito, obviously result In 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
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 Oh
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 a year ago, and the
sxport orders placeable by the Food
Administration for November, amount
70 17OOOO,0O0 pounds as contrast
ed with the lesser exports OK
es. COO 900 for November, 1917. me
Increased demands of the allies are
continuing, and are in themselves
nroof of the necessity for the large
production for which the Food Admin
;stration asked. The increase In ex-
mort demands appears to be amply
sufficient to take up the Increase In
hog nroducti IN, but unfavorable mar
Vet conditions existing in October al
ga M fair index of the aggregate
supply and demand
II must be evident that the enor-
mons shortage In fats In the Centrai
rmpires and neutral countries wouio
,Dmad,etely upon peace result In al
dIt,onal demands for pork products
which. on top Of the heavy shipments
90 the Allies. would tend materially
a. increase the American exports, In
ssmuch as no considerable reservoir Oh
.unnlies exists outside OF the Unlteo
ctotas IT seems probable that the
present prospective supplies would De
,nodecuate to meet this world demand
With the return to peace. so rar as IL
&c nossjbIe to interpret this fact, II ap-
naars that there should be even
stronger demdnu Ioi PoAA
after the war, and therefore any alarm
of hog producers as to the erect OF
neace is unwarranted by the outlook.
In the light of these circumstances
n is the conclusion of the conference
that attempts to hold the price OF hogs
n the price Of corn may work out to
the disadvantage Of pork producers
II Is the conclusion that any interpre-
tation of the formula should be a
broad gagged policy applied over a
long period. 1t is the opinion OF the
conference that in substitution OF the
rrsv,ous 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-
trolled export orders are to be placed
This will be regularly done. The In
6uence of these orders will be directed
10 the maintenance of the common OBJ
iect-namely, the sterilization OF the
price of live hogs so as to secure as far
AZ II IL possible fair returns 10 the