The Bismarck tribune., 1928-12-27
DROP IN MARKETING,
ENLARGED STORAGE
MAY AFFECT GRAIN
College Economist Reviews Ag.
ricuItural Situation on Va.
rious Staples
CATTLE LEVELS ARE STEADY
Hog and Lamb Outlook Also
Analysed az God; FIaxseed
Supplies Have Shrunk

Features which usually CnaraCterlZ
general business activity during tn
'-slast two months of the calendar yea
now in evidence are seasonal weak
cning in activity In manufacturing
and other basic industries, and an in
crease in retail distribution stimulated
by holiday trade.
General Price Levels
Wholesale market prices after
reaching a high level of 154 during
the second week OF September de.
clined to lat by the last week o1
November. due mostly to lower agri.
cultural prices. Agricultural prices arc
not apt to recover the high September
levels during the next few weeks.
Wheat
Some further increases in wheat
prices may be expected between now
and February. 1929. Protein premiums
may also increase as the pressure on
storage space in the milling centers
becomes less severe and the receipts
OF high protein wheats become small
or. The visible supply Of wheat In
the United States during the next two
months may be expected to decrease
considerably as result Of both
smaller receipts and increased ex-
ports. Canadian marketings have
been the largest ever reported. the
amount Of new wheat delivered from
Aug. to Oct. 26. being estimated by
Canadian statistical agencies at 63
per cent Of the estimated marketable
surplus. The average farm price OF
wheat Nov. is was 97.l cents per
bushcl. This is still slightly lower
than at any time since 1924. Durum
prices are also low. The scarcity Of
desirable milling quality of amber
durum has held prices of that class
well above other grades. The esti-
mated average received by producers
In North Dakota. Nov. Is. was 80 cents
while the estimated average price Dec.
Is was 70 cents per bushel.
Flax
Present indications arc that the
flax seed supply available for use in
the northern hemisphere between now
and the new Argentina harvest season
will be below that of last year. The
November estimate of production in
North America Is 23,525 600 bushels.
or 1890. 900 bushels below the produc-
ton Of 1927. The crop In the United
States is now estimated at 20,O26 900
bushels, compared with 26,570.O00
bushels last year. Imports into the
United States and United Kingdom
during September were 2,537 900
bushels compared with 3,247. 900
bushels imported last year. The aver
age price received by producers in
North Dakota Nov. Is was $l97 a
bushel and Dec. Is virtually the same.
Potatoes
While 1t Is not possible to. indicate
exactly the extent of the rise in gen.
eral level of potato prices that may
develop during the spring months,
two pertinent facts are now apparent.
First. the present supply will continue
to be a dominant factor in the price
Of old potatoes during the first half
Of 1929. Second. the action of farm
erS In the early potato areas may help
to strengthen the market for old po-
tatoes by reducing their prospective
acreage and thus reducing the COM
petition that the present crop will
face next spring. Shipments of po-
tatoes from N,rth Dakota have been
materially lower than last season. The
average price received by producers
in North Dakota for potatoes Nov. is
was 30 cents per bushel.
Cattle
Average rrices Of slaughter cattle
are expected to remain approximately
the same during the next month, al
though temporary oversupplies Of fed
cattle may carry prices below the
levels prevailing during the first half
Of 1928. Supplies Of cattle during No
vember were small. Receipts at seven
leading markets were only 78 per cent
Of November. 1927, and "A per cent of
the five-year November average and
the smallest FOR the month In IA
years. Prices during November con-
tinled their seasonal decline. On
Nov. is the average price received by
producers In North Dakota for beef
cattle was $40 per hundred pounds.
This has decreased slightly since that
time.
Hogs
Conditions appear favorable at least
for Z full seasonal advance in hog
prices in the late winter and spring
months. This \. ould make prices con-
Siderably better than during February
and March Of last year when they
were depressed by the unusually
heavy movement Of hogs.
Federal inspected slaughter of hogs
during October was Is per cent great
er thanfduring October last year. and
aepsorers ohogs ct Ill markets during
path was not an increase Of II
nd conditions affect.