The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1931-03-27
BANKERS PREDICT
LOWER PRICES FOR
FARM COMMODITIES
General Business Depression Is
Reflected in Farm Prices
Report Published

Officials Of the Federal Reserve
Bank OF Minneapolis find some So
lace in the fact that some of the de-
cline in general business conditions
curing the first months of the year
can be attributed to the lower price
levels prevailing during that time.
Although a report recently pub
lished by the organization showed a
considerable decline in business totals
during January, February and March,
the bankers amended the report by
stating that lower prices in practical
lye all commodities tended to reduce
gross totals in most business reports.
According to figures published in
the report reductions under last year
were found in bank debts and clear
ings, freight carloadings, electric
power consumption, postal receipts,
flour production, copper output and
marketings of cattle and hogs.
However the picture painted by the
report was not altogether black with
increases being listed in building per-
mits and contracts, grain marketings,
receipts of calves and sheep and ship
ments Of linseed products.
Although the shrinkage of the dol
lar has effected a decline in the bus
mess volume of both the wholesale
and retail trades, the decline in most
lines of trade was so great as to indi-
cate q decline in the physical volume
of goods sold. It is especially note
worthy, that installment ~receivables
in department and furniture stores
H14,,~ fC1Y1,, ~ tho 1oV,acf laval IN thu
last five years.
According to the review, mild
weather which stimulated many farm
activities and the general business de-
preston were the chief factors in ex-
planning agricultural events during
the period. Grain prices declined be-
cause of favorable shipping conditions
due to the weather and while dairy
products were stimulated by warm
weather, the price declined further.
Despite the lowest price level since
1911, there are some favorable aspects
in the dairy situation since low prices
have greatly stimulated consumption
and substantial increases have been
reported. The same condition applies
to the egg market, gains in conSump-
ton having been reported. The price
decline in eggs car be attributed in
part to the large storage stocks now
ON hand and to the heavy receipts of
eggs from current production. Anoth-
cr factor In low egg prices is the
slaughter of mature fowls and a re-
duction in the demand for baby chicks
to about one half the volume report
ed last year.
Hog marketings reflect the increas-
ed feeding of barley, rye and wheat
during the winter. The average
weight of hogs marketed in st. Paul
during February was 1913 pounds the
lowest February rate In nine years.
The lighter hogs yielded a smaller
quantity lard and U. S. lard stocks
on March l were 81 million pounds
less than a year ago.
Government Forecast For 1881
In the spring Of each year the Unit
ed States department of agriculture
publishes an exhaustive discussion of
the price and production outlook for
all of the major farm products. Sig
nificant paragraphs from this report
dealing with products which are i'm
portant in North Dakota are quoted
below.
Wheat Prices Low
Despite forces tending to cause an
Improvement. another year of low
wheat prices is in prospect for 1881.
For several years world production
has increased more rapidly than con-
sumption and burdensome stocks
have accumulated. There is no in
dication of any great change in wheat
acreage to be harvested next year
and with a normal yield there will
result q burdensome supply next
year. Foreign competition will prob