Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1918-11-23

The entire marketing situation has
so 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 bashel. The facr
that the Accommodations 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 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 of corn prices
would, if incorporated in a 13-to-1 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 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 s 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 a failure
to maintain the October price basis
determined upon ct 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 130o0000o pounds
of pork products for October com
pared with about ,52,0010OO pounds
in October year ago, and the
EXPORT orders plaCeable by the Food
Administration for November, amount
10 17OOOo,0O0 pounds as contrast
cd with the lesser exports OF
Qs.OOOO00 for November, 1917. IlS'
increased demands of the allies are
continuing, and are In themselves
proof of the necessity for the large
production for which the Food Admin
jstration asked The increase In eN-
mort demands appears TO be amply
sufficient to take UP the Increase IN
hog product III, but unfavorable mar
let conditions existing in October af-
ford no fair index of the aggregate
supply and demand.
II must be evident that the ehor
nous shortage in fats In the teh'ra
Fmnires and neutral countries wopll
Immediately upon peace result In al
ditional demands for pork products
which, On top Of the heavy shipments
10 the Allies, would tend waterway
ia increase the American exports IN
osmuch ms no considerable reservoir OF
SuDnlies exists outside of the unltet
states 1t seems probable that th'
present prospective supplies would o'
INADEQUATE TO meet this world demand
with the return 70 peace. So far as \
IS possible to interpret this fact, II ap
naars that there should be even
stronger demand for pork produc''
after the war, and therefore any aiarh
OF hog producers as to the erect o.
peace 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 hog'
TO the price of corn may work out t'
the disadvantage of pork producers
1t is the conclusion that any interpre
tation of the formula should be
broad gagged policy applied over
long period. 1t Is the opinion or th'
conference that In substitution OF I'M
previous plans of Sterilization TN
Live Stock Subcommittee of the Agri
cultural Advisory Board, together VIII
the specially invited swine representa-
tives, should accept the invitation @
the Food Administration to JOIN VIII
the Administration and the packers Il
determining the prices at when con
trolled export orders are to be placed
This will be regularly done. The In
fluence OF these orders viii be directe'
10 the maintenance of the common OF
iect-~namely, the Sterilization OF lh
price Of live hogs so as to secure as "a
as il is possible fair returns TO IN