Evening star., 1925-04-16
FARMERS STATUS
SEEMS IMPROVED
Prices Better Than Year Ago.
But Next Fall Will Really
Decide Returns.
By j. C. ROYLE.

Special Dispatch to The Star
NEW YORK, April 16.-Farmers
and merchants in the Middle West
turned on the gloom sooner than was
warranted by recent depressing de;
velopments, according to dispatches
received today. Not SO bad as painted,
is the way many financial authori-
ties describe the situation.
Grain Is now considerably under
the $2-a.bushel mark. But a year
ago at this time wheat was selling
at around $1.04 a bushel for all de-
liveries. May now is around 45 cents
a bushel over prices of year ago,
with July over 35 cents higher and
September more than 80 cents up.
Men in the wheat belt estimate that
II requires $3.50 wheat to be profit
able to the farmer.
Corn Far Above Year Ago.
Corn now is quoted around $1.10 a
bushel, whereas a year ago the lead
ing deliveries at this time were rang
ing between Is and so cents. 1t is
true that the high point for corn
this year was S1.3Sla for July and
September and $1.35% for May. But
just as happened with wheat, the
tremendous run up in prices did not
affect the farmer greatly and neither
has the following drop, since his grain
Is not vet matured. If corn and
wheat will stay around present prices
the farmer probably will make an ex-
cellent profit.
Oat Market Weak.
Oats are about the same price or
little lower than at this date last year
L. \ a
for July and 40 cents for September
The highs in oats, of course, were
reached earlier and ranged from 66%
for May delivery and 81 for Septem-
ber. Farmers anticipate a far better
crop of wheat and corn this Summer
than in 1924 and if prices can be kept
anywhere around present levels, they
count on having fairly good returns
for the first time since the war.
The final results of the crops of
various States depend wholly on
weather and other conditions. But
there seem indications that wheat
will not suffer reductions in price, i'm
mediately at least. Kansas Is expect
ed TO have at least 5000, 900 acres in
wheat which will develop for harvest
out of 10,5Oo.OO0 planted, with a
probable return of better than 16
bushels an acre.
Winter Wheat Conditions.
Missouri Winter wheat condition
Is s6 per cent of normal and experts
forecast the crop from the 2,347 900
acres sown at 24,743,o bushels or
around 150, 1000 bushels more than in
1924. Colorado Winter wheat is 81
per cent of normal and production is
estimated at 1854 900 bushels, as
contrasted with 1924 900 last year.
~ l..
the 10-year average. The Texas grain
crop has been aided by some good
rains.
Live stock prices are at level which
would seem 10 assure a profit. There
are approximately 100000 fewer
swine on farms now than a year ago,
a drop of Is per cent. The 4,234 900
hogs remaining are estimated to have
a value of 1863 ,402 900 now, as COM
pared with $644 ,496 900 a year ago.
With corn around 81 a busheI, and
hogs bringing in the neighborhood OF
Sl3. the 10 to l ratio between hog
prices and corn prices is established
so as to assure a profit on hogs.
Cattle Values Lower.
Cattle are bringing somewhere
around $24.49 as a Midwest market
average. This compares with s25.06
AoSN 1hC4C d1C OosoVotVUU CdIIlS
on the farms. which have an esti-
mated value of $s7O, 900. This is
a drop from the s1,045, ,523, 900 total
Of last year.
Sheep have increased to a total of
SO, l34 600, as compared with 38,300, 900
last April, while their value on the
heof has risen from S7.s7 to $3.50,
which means a gain of over S71 ,00O,-
600 to the growers. In addition, wool
has risen, and a tremendous per
centage of the growers have sold their
clips in advance at high prices, so
that they cannot be hurt by any sub,
sequent drop in wool prices.
Taking II all In all, with both grain
and live stock higher than a year ago,
the outlook for the Midwestern farmer
Is much more favorable despite recent
slumps. The farmer last year did not
sell his grain at the extraordinarily
high prices finally reached, SO that
his real situation depends on what
happens between now and Fall.