Poultry and egg situation

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Material Information

Title:
Poultry and egg situation
Physical Description:
v. : ; 26 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
United States -- Agricultural Marketing Service
United States -- Dept. of Agriculture. -- Economic Research Service
United States -- Dept. of Agriculture. -- Economics, Statistics, and Cooperatives Service
Publisher:
The Bureau
Place of Publication:
Washington, D.C
Creation Date:
November 1951
Frequency:
quarterly
regular

Subjects

Subjects / Keywords:
Poultry industry -- Statistics -- Periodicals -- United States   ( lcsh )
Egg trade -- Statistics -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
statistics   ( marcgt )
federal government publication   ( marcgt )

Notes

Citation/Reference:
Bibliography of agriculture
Citation/Reference:
Predicasts
Citation/Reference:
American statistics index
Citation/Reference:
Index to U.S. government periodicals
Dates or Sequential Designation:
Began with PES 1 (Jan. 1937); ceased with PES-308 (Dec. 1980).
Issuing Body:
Issued by: Agricultural Marketing Service, Dec. 1953-Mar. 1961; Economic Research Service, May 1961-Dec. 1977; and: Economics, Statistics, and Cooperatives Service, Mar. 1978-Dec. 1980.
General Note:
Cover title.
General Note:
Description based on: PES-301 (Mar. 1979).
General Note:
Previously classed: A 93.20: and A 88.15/2:
Statement of Responsibility:
Economics, Statistics, and Cooperatives Service, U.S. Department of Agriculture.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 000502977
oclc - 04506769
notis - ACS2711
lccn - 79643440 //r81
issn - 0032-5708
sobekcm - AA00005304_00001
Classification:
lcc - HD9437.U6 A33
ddc - 338.1/7/6500973
System ID:
AA00005304:00001

Related Items

Succeeded by:
Poultry and egg outlook & situation

Full Text





THE,


PES- 156


FOR RELEASE
DE C. 20, P. M.




SITUATION


BUREAU OF AGRICULTURAL ECONOMICS
UNITED STATES DEPARTMENT OF AGRICULTURE

R NOV.


-DEC.1951


e











17 .







4:




f*1


Egg prices have averaged at or above pa.ity in
only 2 of the last 20 years. On account of greater
efficiency in egg production, farmers have been
producing increasing quantities of eggs in response
to prices which have generally been significantly
below parity levels.
In recognition of this, and similar situations for
some other commodities, the Agricultural Act of 1948


changed the bases for parity computations, gradually
bringing parity levels in line with the history of
the 10 most recent years.
For eggs, the effect of this is to lower parity
prices compared with what they otherwise would be.
Since 1950, when these adjustments in parity began,
the result has been to raise average farm prices
for eggs as percentages of parity.


EGG PRICES AS A PERCENTAGE

OF PARITY


120



100 -- -



80



60


1910 1920 1930 1940 1950
*AVERAGE, II MONTHS
U. S. DEPARTMENT OF AGRICULTURE NEG. 48296- .X BUREAU OF AGRICULTURAL ECONOMICS


ry








2 -
The poultr7 and egg situation at a glance


m: month :
tem : Unt : or A
S :date : 1






Farm production .... ............... il. do. : Oct.

Average number of Lasere on farms .... MILLon : Oct.

Pate of lay per bea ..................: Ega : Oct.

Apparent civilian per capital
disappearance .......................: Eggs : "ept.

Frozen egg production ................ Nil. lb. Sept.

Dried egg production ................. Mil. lb. sept.

Price received &iy farmre ............ :Ct.per dot.: Oct.

Price receive t, frarmere as a
percentage or paritj ................: Percent Oct.

Betall price LBAEI ................ .:Ct per doz.: Sept.

Egg-feed price ratl3 ................: Lb. feed : Oct.

Stocks:

Shell .. ..... .. .. .. ........ Thouu.cases: GOrt. 1

Frozen ........... ...............: Mi Ib. : Oct. 1

Dried ..... ......... .... Mil. lb. Oct. 1

Chicks hatched oJ c mercial
hatcheriee ..........................: MiLio s : Sept.

Pullate not yet of laying age on
farm ............................... MiN.Ilons How. 1

Farm price of poultry ratioa ......... :Dol.per Vt.: Oct.





Price received by farmers for
obickeas, ltve ...................... :Ct. per lb.: Oct.

Price received by farmers m a
percentage of parity ..... ..........: Percent : Oct.

Betall price of chickens,
dressed (BAE) ....................... :Ct. per lb.: Sept.

Price received by farm ra or
turkeys, live ............. ......... :CL. per lb.: Oct.

Stocks:

Poultry, excluding turkeys ......... M 1. lb. Oct. 1

Turkey .. ....... .................. Kil. lb. : Oat. 1

Chicken-feed price ratio ............. Lb. feed : Oct.

rkey-feea price ratio ............... Lb. feed : Ot.

Ave-roae mekly receipt of poultry
at Central eetern Priamry
markets, per plant ..................I Btoms. lb. Oot.

Average sekly placomnt of obloks
Ia 7 roller ars ..................: NL1.m : Out.


month
virae : 1950 : 1 :: aor
l40-49 : : :: date






258.3 339.5 353.3 :: Bo,.

31.2.1 36k.1 366.6 :: Wow.

9.0 11.2 11.2 :: Nov.


27.8 30.1 30.0 :: Oct.

Z.9 8.A 6.6 :: Oat.

--- 3.7 0.5 :: Oat.

43.2 413.2 55.6 o:: ov.


92 70 89 :: Nov.

55.6 58.8 75.9 :: Oct.

14.7 12.0 13.8 :: Hoe.



L,071 1,558 958 :: IT. 1

213.3 133.0 151.3 : o: Do. I

--- L1.5 25.2 :: 1


36.3 72.9 74.1 :: Oct.


lk2.0 96.6 106.& :: Dec. 1

3.01 3.60 6.06 :: BT.


Poultry



23.6 22.7 24.2 :: .


1.13 76 77 N:: oV.


43.8 56.3 55.0 :: Oat.


30.3 31.8 35.8 :: NoT.



11k.0 97.6 124.6 O:: T. 1

22.6 62.7 61.6 :: Hov. 1

8.0 6.3 6.0 :: WOv.

10.2 8.8 8.9 :: Now.



38.1 44.1 58.2 :N Nov.


--- 6.8 7.A : Now..
II


:Average :190 : 1951 Coamnte an
1940-9: current situation






241..h 331.4 351.2 Ieoord highly output for
the month
372.7 387.6 392.8:

7.8 10.3 10.7


28.1 31.9 31.5

3.1 k.5 3.2

2.0 0.A

A.5 1 5.8. 36.5 : lc doolinimp frt sea-
: son peak

88 76 91

59.3 6-5.3

15.. 12.6 13.7



2,7?7 502 513

177.L 101.I 119.9

--- 108.6 22.2 Gooverment stores re-
duced frim year earlier.

38.5 7L.5 79. : At thi semasa, metly
for broilers

86.2 51.5 57.6

2.98 3.63 L.12 highest sitne 1947-18


22.5 22.6 23.2 Lowet this year


108 75 71

66.2 52.2


31.5 32.6 37.9 Frther risas oc
early December


154.0 161.1 175.6

39.1 76.9 83.h

7.8 6.2 5.6

10.7 9.0 9.2



31.1 32.6 36.7


--- 6.8 8.0


aured in


C-V.-DBC. 11 ..




PIS-156 -


T.'H.E- O. L T RY AN'D EGG S ITU AT ION


APPROVED BY THE OUTLOOK AND SITUATION BOARD, DEC. 11, 1951

S LMMARY

Egg prices began to decline seasortal-y in late November, after
having been unusually steady in September, October, and most of November.

Egg production reached its seasonal low i. September, and has
increased since then. The seasonal high is expected about April- -During
the period of lowest production, the quantity of stored shell eggs
available for consumption was from a relatively sTalla'total storage supply

"| On December 1, the United States flock included 3-.percent .mrr.e
potential layers than a year earlier, and on the same .date the rate ;of lay
was up 6 percent from a year ea'sLer.' This indicates that egg production
in the year 1951 is likely. to be:a record, exceeding 1950 by a small
margin if output in the mon h of December.is as large ,as expected.

Storage holdings of total .poultrv are higihor than at this
season last year. The large, turkey stocks are a ieflectoon of this.
yearTs large turkey crop. '-Thaaksgivirng marketing of large-turk:e-s from
this crop generally sold at -higher prices than last year while prices
for turkeys of the smaller breeds were about the same.. :

_g Prices Decline Seasonal.1

Through September, October and most of Novembezr, 1951 egg prices-
were fai*yy steady, but in the last few days of NovemNer. they -ell. sharply
and in early December it was apparent thatithe usual seasonal. price de-: '"
cline had begun. : !

In mid-Novembdr, the UL. S average price received, by farmers -for
eggs was 56,5 coet.s per'dozen. This was only slightly..higher than.the 55.6
cents of mid-October, and the 55C0 cent price for mid-,Septembdr. This
eveness contrasts with last year -when the.monthly -priUes from Sept6anber to
November were 4,.0.4 43.2, .and 45<'8.'ceints while December, was. 57.7 cents, as
an aftermath-.of Iit.e Novinrber storms

Daily wholc lWe prices "have, of course fluctuated to a greatec de-
gree than the monthly farm prices. Nevertheless, their movement -itil
Thuaksgiving wasdquite even in. comparison with past years. By earjlyDe-
cesber'however;.. ost wholesale egg prices (table 1) were considerabWl
lower than at -any time 6ince.mid-summer.


The next issue of the Poultr. fan&Egg Situation .
t6 be released in February, 1952, will-list the parity ,
bases, to be effective in 1952 for computig, the parity .
prices of eggs, chickens, and turkeys. The report will,
Outline the reasnes for the annual changes-which are .
specified in the Agricultur4l Act of 1948.
a P .' "M a ". a i a 9* "
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United States egg production is now not only increasing seasonally,
bbt is above 1950. Monthly output will continue to rise until aboit April,
the month of peak production, and is likely to continue above last years
levels at least until mid-year. On December 1, egg production was 71 per-
cent greater than on the same date last year. An increase of about .
I percent. is likely to be maintained through the spring of 1952.

It seems that there will have to be an increase in the quantity
of eggs stored in the spring of 1952, or an increase in per capital consump-
tion, if the production is to clear the market. This indicates that prices
next spring may be lower than in the spring of 1951. Assuming military re-
quirements unchanged from the year before, and a civilian disappeaance of
eggs up 1I percent, the same as population, then there would still be al-
most 2j million cases more than in the spring of 1951tto be disposed of by
additional storage, or heavier mate of per capital consumption or a combina-
tion of the two.

An increase in egg storage in the spring of 1952, would put holdings
more nearly in line with recent years, Increased storage of frozen eggs
would be an extension of the long-time trend toward greater storage of
that product, while there could be a doubling of last years peak of shell
egg storage before the quantity would equal the average peak of the pre-
vious 5 years, For the increased storage to absorb an extra million cases
over 1951, the peak storage holdings in 1952 (shell and frozen combined)
would have to be 14 percent higher than in 1951. Whether or not such an
increase in storage will be profitable is not yet clear. '

High Rate of Lay, More Potential
Layers, When 1952 Begins

On December 1,3 percent more potential layers were on farms than a
year earlier. Percentagewise and absolutely, the increase was greatest in
the Northeastern States. The North Central States also showed significant
increases. (Table 2).

More layers, combined with indications of a continued high rate of
lay (the November figure was the 12th consecutive monthly record), suggest
that egg production in the first few months of 1952 will be considerably
larger than in the corresponding months of 1951.

Table 2.- Potential layers on farms, by regions, December 1, 1950 and 1951

Region

Year Un orthh South : South :TrUnited
UI North a North : North -.A ic: Central:Western:States
CentralCentral:Atlant Central State


1950 :Million:
:birds : 73.2 86.1 126.5 40.1 78.2 42.0 446.8

1951 : Do. : 78.0 88.5 129.5 41.5 78.2 43.0 458.7

Percentage :
change :Percent: 6.6 2.7 2.4 1.8 0 2.3 2.7
m in; u _*


F.S3-156


- 5 -




IIOV-D3C 1951
1


. I : Meanwhile, on the basis .of data for 11 months plus indications for'
Deceoberg it seems that..total egg production in 1951 will be a new record,
exceeding 1950 by-a slight margin. Egg production to the end of Novamber,
1951, was the same as- in the first 11 months of 1950. But in view of
the higher rate (f. lay and.increased number of layers reported for Decem-
ber 1, production in the 2ast month is likely to be significantly above
a year earlier, and to result in a new annual record. (See table 3.)

Table 3.- Monthly egg production and related factors, January 1950 to date

o- ........... .. -, z -
Average : : Egg pr-oduction on : Averags : Egg production on
Month : number : Egs farms number 3 ; _farms
; of: : per Monthly; C1.mulative .. of p r ;Monthly sCumulative
*_ r .L: iyer : toal oto 1._ _Jeri, .yer tol a tc1al
Million '-Million Million Million
:Millions Nuziber dozen dozen Millions Number dozen dozen

Jan, : 405 12.8 4.31.2 431.2 395. 12.7 413.4 41.84
Feb. : 396 13.3. 4371i 86".3 387 13.5 433.6 852.0
Mar. : 383 16.9 .538.5 ..,4068 373 17.0 528.3 1,380,3
April z 364 17.7 535.7 .:..l942,5 355 17-8 526.5 1,906.8
May : 3.3 18.1 516.8 2,459.3 336 `'13 513.0 2,419.8
June : 323 16.2 ,435.3 2,896,6 319 16.5 439.2 2,85990
July : 309 15.2 390.6 3,285.2 305 15.5 392.6 3,251.6
Aug,. : 307 13.9 356.2 3,6!1.'4 302 14,0 352.6 3,604.2
Sept. 1. 330 12.0 328.9 3,970.3 328 12.2 333.9 3,938.1
Oct. : 364 11.2 339-5 4,309.8 367 11.6 353.3 4,291.4
Nov. : 387 10.3 331.4 4,6412 393 10_7 351.3 4,642.7
Dec. : 397 11.0 362.6 5,003,8

Total 1: 68.6 5,003. 1/ .171.


_/ Partly forecast,

.Msat-JTari g gur y a. ... ..
Brought Higher Prices Then Last Year .

At farr, and wholesale levels, most turkeys offered for the Thanks-
giving market sold at.prices above a year ago.. Price trends sirce Thanks-
giving have been upward,

The 55 percent increase in the production of Beltsville &mall White
turkeys kept prices for't.esc birds from increasing over. last year. Market-
ings of other turkeys have been readily absorbed at prices higher than in
1950, even .thuigh-putput in 1951 was 10-perceit higher than in 1950.

This year, the premium for hen turkeys of tha larger breeds, as
compared with toms, is smaller than a year a.go. A factor inkthis changed
spread is the competition from the smUller breeds, whose size makes them
a close substitute for broad-breasted hens but not for toms,


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riOV-DoC 1951


- 8 -


Table 5.- Turkeys, N.Y. dressed, fresh; Wholesale quotations, selected
classifications, fall, 1950 and 1951 1/

Date New York : San Francisco
e 8-10 bsW.l-16 lbs. : 22-241lbs.:Young hens :Young turns
: Cents Cents Cents 2 Cents Cents
1950
October 16 55 42-43 35-36 47-48 37-38
rNovember 1 57 43i-44 36-37 46-48 36-38
November 15 57 43-47 361-38 47448 37-38
December 1 57 43Z-47 38-381 47-48 37-38
December 15 57 50-51 41A-43 50-51 40-41
1951
October 15 : 51-52 46-47 43-44 50-51 48-50
November 1 1 31-54 47-48 42-43 53-54 45-48
November 15 : 53-54 49-50 48-47 56-58 47-50
November 30 : 51-52 51-52 462-47 58-60 48-50
December 11 : 52-53 51-5-2 46-47 59-60 48-50

3_/ Dairy and Poultry Market News Service.

Shell Egg Storage Season Ends;
November Futures Close Sharply Higher

The cold stdi age -.eabon.faor 2.1951 shell eggs has praati'cayLUF,-,di.d
There have been steady withdrawals from the 513. thousand cases that were
in storage at the beginning of November. StocKs in 35 principal cities were
reduced 65 percent between November 3 and December 1, and total U. S. stocks
probably also declined in about the same ratio.

The year's peak holdings of 2.4 million cases on July 1. were the
second lowest since records were begun in 1916.

This year, eggs taken out of storage early probably returned a. moder-
ate profit to their owners, depending upon premiums obtained. But most eggs
held into November probably brought less than the same eggs wouldhhave sold
for earlier in the season, because of the increasing supplies of fresh eggs.

November Egg Futures Close High

An interesting sidelight in egg marketing in November was the pro-
nounced rise in the price of Chicago Mercantile Exchange futures contracts
for delivery in that month. As in 2 of the 3 previous yearly November egg
futures contracts closed at prices significantly higher than the coiracts
of the months immediately preceding.

On November 9, there wereA 6GD November contrasts outstanding, total-
ing 288 thousand cases. On the same date there .were only 70 thousand cases
of eggs in storage in Chicago, of which an unknown proportion were delivered
able under the contract terms. The price of the contract rose from 51.90
cents per dozen on November 9 to 60.95 cents on November 23, the last .date
for unlimited trading.






Table 6. Egg futures: Daily closing prices per dozen of selected contracts
on the Chicago Mercantile Exchange, selected dates 1951, with comparisons

i: Delivery month of contract
Description or oprcSetNvDc. ---
date of price Sept. Oct. : Nov. Dec. : Jan. following
--- -- -.- --- _- __ ^ ____ J *


: Cents


Cents _ents


1950 Contracts


SClosing prices


33.90


35.50 48.75


Cents



47.35


*.ents



41.OOA


191 Contracts


One week after :
. opening of tradinpg/36.75B 1/36.00


2/49.40


Spring time levels:
A-Approximate peas
for Feb.-June :
period (May 5) : 55.50

.8-Approximate lows
for Feb.-June :
period (Feb. 5) : 46.60


Last.daynif trading
for Sept. con.-
tracts, Sept. 21 :


52.50


54.56 53.50


46.65


50.75 49.25


Last day
.ing for
tracts,

Last day
ing for
tracts,


of trad-
Oct. con-:
Oct. 24 :

of trad-
Nov. con-:
Nov. 23 :


Current quotations,
Dec. 12 :


Current quotations;
Dec. 12 :


47.25 48.15


60.75


1952 Contracts


46.00


/ November 8, 1951.
7/ April 9, 1951.
./ July 27, 1951. .
g/ September 13, 1951.


3/45.50


4/44-50B


46.90B


43.30


.48.10


51.05


47.40


43.10


44.75


43.50


FES-156


- 9 -




itlV-DEC 1951


Chicken Prices Low, Storage Uf;.
Turkey Stocks also Larger Than La6t Year

Early November storage holdings of poultry were considerably
higher than on the same- date in 1950. The total was 259 million pounds,
against 218 million in 1950. Stocks will continue to rise seasonally.
The Usual seasonal peaks of monthly holdings are January 1 for chickens
and February 1 for turkeys.

At 162 million pounds, the total holdings bf chickens l/ were
already higher than the season peaks in any other: year since 1948. An
inducement for further accumulation is the present low price of chickens,
and the expectation that the price may rise during the period when storage
stocks are normally consumed.

At 23.2 cents on November 15, U. S. average farm prices of chickens
were'the lowest of the year to dkte although- they-were 3 percent above
the 22.6 cent price of November 1950. The supply outlook suggests sharp-
ly declining marketing ;o farm chickens in the next few months. The
recent increases in broiler placements in the reporting areas will not
suffice to hold supplies at the levels of November. lNovember broiler
marketing, in general, were made from August chick placements, which
amounted to 36.0 million chicks in 7 representative areas. In September
and October they were 32.6 each and in November 36. Furthermore, the de-
mand for chicken is likely to rise at a time when fresh supplies will be
declining, since marketigs of meat animals will be declining seasonally and
turkey consumption will fall off after the Eolidays.

The pattern of marketing of farm chickens this year is probably
about in line with last year, when the proportion of the year's marketing
fell from 14 percent (by weight) in October, to 7 percent in December.
Corresponding percentages for January, February, and March are typically
about 4 or 5 percent.

Holdings of frozen turkey at the beginning of November ware also
above last year, although not by so wide a margin as chickens. The 83.4
million pounds reported were 8 percent above 1950, and almost up to the
record for the month of 83.5 million pounds on November 1, 1946.

Holdings of turkeys on November 1 were 59 billion pounds above the
years low of 24.8 million pounds on September 1. The accumulation in
the same 2 months of 1950 was only 40 million pounds. The difference is
partly explained by this year's increase in turkey production, 55 percent
over last year for Beltsville Small Whites, and 10 percent for other
turkeys. Turkey storage from the 1950 crop was very profitable.

StOrage holdings of ducks at the beginning of November were 13*.5
million pounds, down slightly from the 14.0 million-pound season peak
reached the month before. The November figure is abont the same as last
year. The revised dollars-and-cents duck price regulation (CPR 79,rev.l)
which is to become fully effective on Hanuary 15, 1952, has allowances for
month-to-month price increases for frozen ducks during the staoage season,
to cover the costs of holding.
m

j/ Actually, total storage holdings of all poultry minus turkeys and
ducks.


- 10 -






11 -

Table 7.- Egg prices am a percentage of parity, 1910 to date


: Index of prices
Year : paid by farmers
ya: Including inter-
S et and taxes :


1910.................: 96
S1911................. : 100
0 U. : 1912..................: 100
1913.................: 102
l 1914.................: 102

1910-14 average .....: 100

1915..................: 107
1916.................: 125
1917.................: 148
1918.................: 173
1919.................: 198

1920 .................. 202
S.1921.................. 165
J 1922.................: 1646
S1923................. : 167
S1924.................: 167
1925................. : 169
1926................. : 167
1927................. : 165
1928................. : 167
1929................. : 165

1930 .................: 159
1931..................: 140
1932 ................. : 124
1933 ................. :119
1934.................: 128
1935.................: 128
1936................. : 127
1937.................. : 132
1938...................: 126
1939 .................. 123

i1940.................: 124
; 1941.................: 131
1942 .................: 149
1943..................: 160
1944.................: 168
1945..................: 171
1946..................: 191
1947.................: 230
1948................. : 248
1949................. 2'%2

1950.................: 250
1951 5/ .............. 272
Jar.uary ............. 266
February...........: 267
March..............: 271
April............... 272
May................. 273
June...............: 274
July...............: 273
August.............: 273
September..........: 273
October..........i.: 274
Hovember...........: 275


(Data for cover
SParity
price
per dozen :

Cent

20.6
21.5
21.5
21.9
21.9

21.5

23.0
26.9
31.8
37.2
42.6

43.4
35.5
35.3
35.9
35.9
36.3
35.9
35-5
35.9
35.5

34.2
30.1
26.7
25.6
27.5
27.5
27.3
28.4
27.1
26.4

26.7
28.2
32.0
34.4
36.1
36.8
41.1
49.4
53.3
52.0


chart)
Transietional
parity price,
per dozen

Cents


51.1
52.6
51.5
51.7
52.5
52.6
52.8
53.0
52.8
52.8
52.8
53.0
53.2


:Price received
: by farmers
: per dozen
3/
Cents

22.5
19.4
22.0
21.5
22.6

21.5

21.7
24.7
34.0
40.0
44.7

47.8
33.0
28.1
29.3
30.3
33.7
31.5
28.2
30.3
32.1

25.1
18.6
16.0
15.3
18.4
24.1
23.0
21.7
21.3
18.4

19.1
25.0
31.4
38.7
33.8
39.0
39.2
46.4
48.0
45.5

36.9
6/ 8.3
6/ 42.2
U/ 46.5
.5 50.2
"/ 49.5
/~52.0
5/ 49.7
3/ 48.0
5/ 48.3
6/ 49.1
5/ 47.1
5/ 48.3


1952 7/...............


1/ Index of prices paid, including interest and taxes, times base price of 21.5 cents per dozen, except
after 1949. 2/ For 1950, 95 percent of the parity price as previously computed; for 1951, 90 percent.
3/ simple average of monf.hly prices. 4/ simple average of monthly prices as a percentage of parity.
3/ Average, 11 months. 6/ Seasonally adjusted. 7/ The parity price for 1952 will again be the trane-
Ittonal parity which for 1952 will be equal to 85"percent of the "old" computation.


: Farm price
:ae a percentage
: of parity
: 4/
Percent

111
90
104
98
104

100

94
92
110
108
1c6

1ll
91
78
82
8Z
92
88
78
85
91

74
62
58
59
66
88
84
78
79
70

72
88
99
114
95
107
96
94
90
88

72
92
82
90
96
94
98
94
91
91
93
89
91





U. DJenartment of Agriculture
Washington 25, D. C.
OFFICIAL BUSINESS
BAE-PES-156-12/51-3900
Permit No. 1001



.. -Y OF FLORIDA

^S S DEPT.


Penalty for priva 3 1262 08903 5876
payment of postage $300 I-.

N-..1


;. FLA.