Economic Information for Indiana Farmers, no. 10 (Apr. 1942) |
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ECONOMIC INFORMATION FOR INDIANA FARMERS No. 10 April, 1942 HOG SITUATION Large hog numbers in Indiana and prospects of a less favorable hog-corn feeding ratio in the winter of 1942-43 point to the importance of Indiana farmers adjusting fall pig breeding operations in line with probable available feed supplies. Certain other crop and livestock enterprises will probab'y increase in profitableness relative to hogs by the latter part of 1942. Although hog marketings are expected to average approximately 20 percent larger for the period April to September than a year earlier, demand and price factors appear to be sufficiently strong to keep hog prices fluctuating near March, 1942, levels, allowing for the normal March to September seasonal trend, and not far from prices allowable under present and probable wholesale pork ceilings. With expected receipts for the late fall and winter of 1942-43 somewhere near 30 percent greater than for the previous year and with the normal seasonal increase in receipts, substantially lower hog prices are in prospect for this period than those prevailing in late summer in spite of the increasing demand and tendency for higher prices in genera1. 1942 Hog Price Outlook Not Mate- maximum price for prime steam lard rially Changed by Price Ceiling en in tierces at Chicago was set at Pork Products—Despite the price ceilings put into effect on wholesale pork products on March 23, the hog price situation has not been materially changed. While a strong demand for pork products is expected to keep prices near the ceiling levels until late summer or early fall, the fundamental forces of supply and demand for pork products were not such as to indicate materially higher prices than present and probable 1942 price ceilings on wholesale pork, except for possibly short periods. During late fall and winter the price ceilings will likely have little effect because the increased marketings of hogs are expected to keep hog prices below probable ceiling levels. Inasmuch as the price of things farmers buy are rising, the parity price for hogs is rising. With the general uoward movement in prices, prebably by late summer the parity price for hogs will be higher, and by nex: fall and winter still higher. Effective February 4, ceiling prices for lard were again adjusted upward by the Office of Price Administration. Under this second revision, the 12.695 cents per pound. This was 1.765 cents higher than the price ceiling of 10.93 cents established on January 2 and 2.845 cents higher than the first ceiling of 9.85 cents set on December 13, 1941. General Price Level Continues to Move Upward—The index of wholesale prices of all commodities rose from 118 for January, 1941, to 139 for January, 1942. During this same period the index of prices rec3ived by farmers for all products sold rose from 104 to 149 for the United States. The index of prices paid by farmers for commodities used in production and living rose from 123 to 146. This general movement upward in all prices is a strong force affecting hog prices. Domestic Demand Strong — Domestic consumer demand for pork products continues strong and is expected to increase as conversion from civilian to war prcducticn is more nearly accomplished. Government spending for defense in February was running about two billion dollars a month higher than a year earlier. Increased buying powsr in
Object Description
Title | Economic Information for Indiana Farmers, no. 10 (Apr. 1942) |
Purdue Identification Number | UA14-13-econ194204 |
Date of Original | 1942 |
Publisher | Purdue University. Agricultural Extension Service |
Subjects (LCSH) |
Farm produce--Indiana--Marketing Agriculture--Economic aspects--Indiana |
Genre | Periodical |
Collection Title | Extension Economic & Marketing Information (Purdue University. Agricultural Extension) |
Rights | Copyright Purdue University. All rights reserved. |
Coverage | United States - Indiana |
Type | text |
Format | JP2 |
Language | eng |
Repository | Purdue University Libraries |
Date Digitized | 02/26/2015 |
Digitization Specifications | Original scanned at 400 ppi on a BookEye 3 scanner using Opus software. Display images generated in Contentdm as JP2000s; file format for archival copy is uncompressed TIF format. |
URI | UA14-13-econ194204.tif |
Description
Title | Economic Information for Indiana Farmers, no. 10 (Apr. 1942) |
Purdue Identification Number | UA14-13-econ194204 |
Transcript | ECONOMIC INFORMATION FOR INDIANA FARMERS No. 10 April, 1942 HOG SITUATION Large hog numbers in Indiana and prospects of a less favorable hog-corn feeding ratio in the winter of 1942-43 point to the importance of Indiana farmers adjusting fall pig breeding operations in line with probable available feed supplies. Certain other crop and livestock enterprises will probab'y increase in profitableness relative to hogs by the latter part of 1942. Although hog marketings are expected to average approximately 20 percent larger for the period April to September than a year earlier, demand and price factors appear to be sufficiently strong to keep hog prices fluctuating near March, 1942, levels, allowing for the normal March to September seasonal trend, and not far from prices allowable under present and probable wholesale pork ceilings. With expected receipts for the late fall and winter of 1942-43 somewhere near 30 percent greater than for the previous year and with the normal seasonal increase in receipts, substantially lower hog prices are in prospect for this period than those prevailing in late summer in spite of the increasing demand and tendency for higher prices in genera1. 1942 Hog Price Outlook Not Mate- maximum price for prime steam lard rially Changed by Price Ceiling en in tierces at Chicago was set at Pork Products—Despite the price ceilings put into effect on wholesale pork products on March 23, the hog price situation has not been materially changed. While a strong demand for pork products is expected to keep prices near the ceiling levels until late summer or early fall, the fundamental forces of supply and demand for pork products were not such as to indicate materially higher prices than present and probable 1942 price ceilings on wholesale pork, except for possibly short periods. During late fall and winter the price ceilings will likely have little effect because the increased marketings of hogs are expected to keep hog prices below probable ceiling levels. Inasmuch as the price of things farmers buy are rising, the parity price for hogs is rising. With the general uoward movement in prices, prebably by late summer the parity price for hogs will be higher, and by nex: fall and winter still higher. Effective February 4, ceiling prices for lard were again adjusted upward by the Office of Price Administration. Under this second revision, the 12.695 cents per pound. This was 1.765 cents higher than the price ceiling of 10.93 cents established on January 2 and 2.845 cents higher than the first ceiling of 9.85 cents set on December 13, 1941. General Price Level Continues to Move Upward—The index of wholesale prices of all commodities rose from 118 for January, 1941, to 139 for January, 1942. During this same period the index of prices rec3ived by farmers for all products sold rose from 104 to 149 for the United States. The index of prices paid by farmers for commodities used in production and living rose from 123 to 146. This general movement upward in all prices is a strong force affecting hog prices. Domestic Demand Strong — Domestic consumer demand for pork products continues strong and is expected to increase as conversion from civilian to war prcducticn is more nearly accomplished. Government spending for defense in February was running about two billion dollars a month higher than a year earlier. Increased buying powsr in |
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