The Delta independent., 1918-11-22

50 changed since the September join
conference as to necessitate an entire
alteration in the plans of price stabl-
lization. The current peace talk has
alarmed the holders of corn, and there
has been price decline of from ?,
cents to 40 cents per bushel The faci
that the accumulatOns of low priced
corr in the Argentine and South Afri
ca would. upon the advent of peace
and liberated shipping, beccahe 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 a similar reduction in the prices
OF hogs would naturally follow. More.
over. the lower range OF corn prices
would. II Incorporated In a 13-to-1 ra
tio, obviously result In a continuously
falling price for live hogs. In view
OF these changed conditions many
swine producers anticipated lower
prices and as result rushed their
hogs TO market I'm large numbers, and
this ovcrshlpment has added 20 and
uEefhN hitl me LttllAFs
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 % 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 10 an endeavor
to maintain the agreed price. The re-
suit in any event has been failure
to maintain the October price basis
determined upon nj 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; II
has sharply curtailed consumption OF
pork products and temporarily de-
creased the labor staff OF the packers
sbout - 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 plnccable by the Food
Administration for November amount
10 1Tooo0.0oo pounds as contrast
ed with the lesser exports OF
ps. 600 900 for November. 1917. The
Increased demands of the allies nre
continuing and are In themselves
proof OF the necessity for the large
production for which the Food Admin
tstrntIon asked. The Increase In eS-
port demands appears to be amply
sufficient TO take up the Increase IN
hog product III, but unfavornble mar
ket conditions existing In October ar
ford no fair index OF the aggregate
supply and demand.
II must be evident that the cnor-
mou. shortage In fats In the Central
Empires and neutral countries would
ditionui demands for pork products
which. on top Of the heavy shipments
to the Allies, would tend materially
to increase the American exports, In
asmuch as no considerable reservoir OF
supplies exists outside of the United
6tntes. II seems probable that the
present prospective supplies would be
Inadequate to meet this world demand
with the return to pence. SO far as II
10 possible to interpret this fact, II mp
pears that there should be even
stronger demand for pork products
after the war. and therefore any alarm
OF hog producers ms TO the effect Of
pence is unwarrantcd by the outlook
In the Wgh, OF these circumstances
II liz the conclusion of the conference
TINT attempts to hold the price of hogs
TO tn. price Of corn may work out to
the disadvantage OF pork producers
II Is the conclusion that any lntcrpre-
tation OF III. formula should be
brond guuged policy applied over n
long period II is the opinion OF the
conference that In Substitution Of the
prey,ous plnns OF stnbillzation 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 pnckcrs In
determining the prices ut which con
trolicd export orders nrc to he placed.
This will be regularly done. The In
nuence o. these orders will be directed
to the maintenance of the common OBJ
jcct namely, the stnbilizntion of the
price OF I've hogs 80 ms TO secure ms far
ns u iP possible fair returns TO the