Economic and Marketing Information for Indiana Farmers (Apr. 18, 1948) |
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Economic and Marketing Information FOR INDIANA FARMERS INFORMATION Lafayette, Indiana April 18, 1948 Prepared by members of the Agricultural Staff of Purdue University Outlook Favorable for Hog Producers WITH smaller total meat supplies in prospect for the summer than were available last summer and with a relatively strong demand, hog prices are expected to average well above the late February and early March levels for the period April 15 to October 1. Recently there has been a tendency to reduce ail classes of livestock in the United States relative to probable grain production. This would seem to justify maintaining the number of sows for fall farrowing on Indiana farms at normal levels. Feeding ratios are likely to be favorable in the latter half of 1948 if average or better than average crop yields are prospect or obtained. In judging the future hog price situation in times like these, it is important to appraise not only future pork and meat supplies, but also the prospective demand. The amount of money the public will spend for meat depends largely upon consumers' incomes. At the present time, prospective supplies can be estimated fairly well. The most unpredictable factor is the demand. Demand Expected to Continue Strong The drop in the United States farm price of $5.10 for hogs, 69 cents for wheat, 54 cents for corn, and $1.14 for soybeans from January 15 to February 15 has raised the question, "Is this the beginning of the much predicted post-war price realignment or is it simply a corrective price adjustment in the grain and livestock fields resulting from an over-extended market price rise growing out of the 1947 domestic and world grain shortage?" By J. CARROLL BOTTUM, Agricultural Economics in The normal seasonal decline at this time in retail store sales, employment, and the like, makes it difficult to determine whether anything more than the seasonal adjustments are taking place. The lag in the time that it takes to collect and make available data, allows for real changes to take place before they show up in the trends. Therefore, one cannot too definitely appraise the present situation in the light of current data available. Nevertheless, what data are available would indicate that while an increased degree of caution and conservatism has been thrown into the entire economy, there are no definite evidences that the price declines in the grain and livestock fields have spread to the industrial phase of the economy. Industrial production in general continued at the peacetime record of the previous two months in January, or 193 per cent of the 1935-39 level. Employment was off seasonally in January and February, but still averaged higher than for the same period a year earlier. Retail store sales in both January and February were below the December levels, but still above the previous year's levels in dollar sales. Quantity of sales in many cases had declined below the previous year's levels. Average weekly income payments of all industrial workers in February were nearly the same as January. Barring more aggressive action on the international front, the three most important factors affecting (Continued on page 5)
Object Description
Title | Economic and Marketing Information for Indiana Farmers (Apr. 18, 1948) |
Purdue Identification Number | UA14-13-econ194804 |
Date of Original | 1948 |
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-econ194804.tif |
Description
Title | Economic and Marketing Information for Indiana Farmers (Apr. 18, 1948) |
Purdue Identification Number | UA14-13-econ194804 |
Transcript | Economic and Marketing Information FOR INDIANA FARMERS INFORMATION Lafayette, Indiana April 18, 1948 Prepared by members of the Agricultural Staff of Purdue University Outlook Favorable for Hog Producers WITH smaller total meat supplies in prospect for the summer than were available last summer and with a relatively strong demand, hog prices are expected to average well above the late February and early March levels for the period April 15 to October 1. Recently there has been a tendency to reduce ail classes of livestock in the United States relative to probable grain production. This would seem to justify maintaining the number of sows for fall farrowing on Indiana farms at normal levels. Feeding ratios are likely to be favorable in the latter half of 1948 if average or better than average crop yields are prospect or obtained. In judging the future hog price situation in times like these, it is important to appraise not only future pork and meat supplies, but also the prospective demand. The amount of money the public will spend for meat depends largely upon consumers' incomes. At the present time, prospective supplies can be estimated fairly well. The most unpredictable factor is the demand. Demand Expected to Continue Strong The drop in the United States farm price of $5.10 for hogs, 69 cents for wheat, 54 cents for corn, and $1.14 for soybeans from January 15 to February 15 has raised the question, "Is this the beginning of the much predicted post-war price realignment or is it simply a corrective price adjustment in the grain and livestock fields resulting from an over-extended market price rise growing out of the 1947 domestic and world grain shortage?" By J. CARROLL BOTTUM, Agricultural Economics in The normal seasonal decline at this time in retail store sales, employment, and the like, makes it difficult to determine whether anything more than the seasonal adjustments are taking place. The lag in the time that it takes to collect and make available data, allows for real changes to take place before they show up in the trends. Therefore, one cannot too definitely appraise the present situation in the light of current data available. Nevertheless, what data are available would indicate that while an increased degree of caution and conservatism has been thrown into the entire economy, there are no definite evidences that the price declines in the grain and livestock fields have spread to the industrial phase of the economy. Industrial production in general continued at the peacetime record of the previous two months in January, or 193 per cent of the 1935-39 level. Employment was off seasonally in January and February, but still averaged higher than for the same period a year earlier. Retail store sales in both January and February were below the December levels, but still above the previous year's levels in dollar sales. Quantity of sales in many cases had declined below the previous year's levels. Average weekly income payments of all industrial workers in February were nearly the same as January. Barring more aggressive action on the international front, the three most important factors affecting (Continued on page 5) |
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