Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-12-04
PRICES SPUR PLEAS
FOR FARM RELIEF.
Demands for New Deal"
Accumulated by Drop
in Markets.
Special Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, December 3.-Insistent
farmer demand for new deal in the
way of q relief program under Demo-
cratic auspices, is unlikely to be tenn
pered by events In commodity markets
during recent sessions.
Again, 1t has been a week featured
by new low prices for many staples,
distressing in its effect on the morale
Of the Nations agricultural population.
But at the time there have been en-
couraging features to indicate thai the
worst either is passed or soon will be.
Thursday saw wheat prices jump
more than 2 cents a bushel as another
crisis was passed-that created by De-
cember LIQUIDATION of futures contracts.
From now on markets are expected to
be more responsive to real bullish fac
tors now evident. Furthermore, prices
are so low that they cannot well go
much lower without causing sharp
restriction in marketing. Already cash
grain markets are displaying unusual
firmness, as producers withhold their
products from market. Only a cons
stantly contracting and badly unsettled
foreign exchange situation prevents a
decidedly bullish tinge to many mar
kets.
ENCW LOWE EStdDualeu
Records went pretty we'll to smash
during this week, before the late up
turn that came in most farm markets.
Some of the seasons new marks are
Wheat, reached the lowest in history,
with the December delivery down to
AIS cents.
Corn. lowest since 1896, with Deem
Der down to 2la cents.
Oats lowest since 1895
Hogs, equal to the lowest since 1896,
with best animals at $3.50 per hundred
pounds
Pork loins, lowest since 1892, at IS to
% per hundred pounds.
Butter, January delivery, at "a cents,
the highest of the year.
Eggs, December delivery ut ~ cents,
the highest since 1880.
Milk, in the Chicago district, at $145
per hundred pounds, the lowest since
the war
Since these records were made there
has been a rebound, but as yet it is too
small to bring much cheer to the pro-
Queer. Today he is receiving barely as
cents bushel for his wheat. from to
10 cents for his corn, less than cents
Tor oats and heart-breaking returns for
cattle, hogs and sheep
As matter Of fact, the Department
OF Agricultural Economies, in its latest
price index, sets the average farm price
last month at 81 per cent Of the pre-
war average, while the things the farm
er buys is set at LOG per cent Of the pre-
war average. 1t is that disparity that
the producer wants to eliminate, &C.
counting for his clamor for some form
6 price relief
Crowds Attend Show.
The present has been "a week of spe-
cial interest for the farms-. owing to
the International Live Stock Exposition
In Chicago. The present snow attract
ed almost unprec edented crowds and
brought record5reaking entry list
but prices paid for the stock were low
Texas Special, the prize steer of the
show, sold on Thursday at Sl.25 a
pound, compared with $825, the record
price Of 1929, and s1.27 paid last year.
Live stock markets nave been one OF
the most depressing features Of the
whole agricultural situation of late.
Much Of the trouble in the pork division
has been due to European restrictions
on imports of American products, re-
sultins In their pressure on the Ameri-
can market
With an Improvement Of purchasing
power, however, this situation will speed
LILY be remed!ed. And in the grain
markets, the continued threat of an
other poor Winter wheat crop IN the
Southwest provides potential basis for
bull market that cannot BE- ignored
This week reports of private crop ex-
perts and Of the Santa Fe Railroad, in
addition to the State crop advices, all
emphasized the critical condition of the
new crop. owing to drought.
The grain trade Is not unaware that
. new situation may be shaping UP In
the markets today, with the future
brighter, except for the international
outlook, which plays 50 important q
part in farm commodity markets.
Copyright. 1887