The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1918-12-09

The conclusions OF the conference
The entire marketing situation has
so changed since the September joint
conference as to necessltate an entire
alteration in The plans Of price staoi-
lization. The current peace talk mas
alarmed the holders OF corn. and there
has been a price decline OF from 70
cents 10 40 cents per bushel. The fact
that the Accommodations of low priced
corn in ihe Argentine aud South ATT
ca would. upon the advent or peace
ana liberated shipping, become availa-
bile 10 the European market has ere
ated great deal Of apprehension on
the part Of corn holders. This decline
has spread fear among swine growers
that similar reduction in the prices
OF hogs would naturally follow. More
over, The lower range or corn prices
would, II incorporated Ia n l3-to-l 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 overshlpment has added 10 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 estl-
mate does not exceed - 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. III the face OK the
excessive receipts some packers have
not mainialned the price agreed last
month. On the other hand, many
OF the packers have paid over The
price offered 20 them Ia an endeaHor
TO maintain the agreed price. The re-
suit in any event has been failure
to maintain the October price basis
determined upon ut the September con
ference aud undertaken 10y the pack
ers. Another factor contributing to
the break IN prices during the month
has been the Influenza epidemic; u
has sharply curtailcd consumption OF
pork products and temporarily de-
creased the labor staff OF the packers
about % per cent
The exports ot 130O00000 pounds
OF pork products Tor October com
pared with about 59000,0o0 pounds
F. ia October year ago, ana The
export orders placeable by the Food
Administration for November. amount
60 l1000GGOO pounds as contrast
ed With the lesser exports OF
9s.OO0,000 tor 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
lstratlon asked. Tire increase IN ex
port demands appears to he amply
sufficient to take up the Increase II
hog production, but unfavorable mar
ket conditions existing IN October ar
ford no fair index OF the aggregate
supply and demand.
IL must be evident that the enor
nous shortage In fats in the Contra
Empires and neutral countries woul'
Immediately upon peace result IN al
ditional demands for pork product
which, on,top of the heavy shipment
10 the Allies, would tend MATERIAL,
20 increase the American exports. In
asmuch as no considerable reservoir o
supplies exists outside OF the Unlte'
States. 1t seems probable that tn
present prospective supplies would b.
Inadequate TO meet this world deman'
with the return 10 peace. SO far as
Is possible 20 interpret this fact, II ap
pears that there should be even
stronger demand FOR pork product
inter the war, and therefore any alarm
Of hog producers as 90 the effect o
peace is unwarranted by the outlook.
In the light Of these circumstance
Il Is The conclusion OF the conference
that attempts TO hold the price Of hog
TO the price Of corn may work ont &
the disadvantage of pork producer:
ltls The conclusion that any interpre
tatlon OF the formula should be
broad gagged policy applied over
long period. Il is The opinion OF TN
cnnfercnqe that I'm substitution " IN
previous plans Of sterilization Ia
Live stock Subcommittee OF the Ayr
cultural Advisory Board, together Wit
the specially invited swine represents
lives. should accept the invitation Q
the Food Administration 10 Join wit
the Administration and the packers {
determining The prizes ut which col
trolled export ordeia are to be place,
This will he reguia y done The IL
nucnce of these ord will be directe
10 the maintenance OF the common ol
ioet-.namely the gtnbilizatiOn OF IN