The hog situation

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Title:
The hog situation
Physical Description:
32 no. : ; 28 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
Publisher:
U.S. Dept. of Agriculture, Bureau of Agricultural Economics
Place of Publication:
Washington
Publication Date:
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Swine -- Marketing -- Statistics -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
federal government publication   ( marcgt )
statistics   ( marcgt )
periodical   ( marcgt )

Notes

Statement of Responsibility:
United States Department of Agriculture, Bureau of Agricultural Economics.
Dates or Sequential Designation:
HS-1 (Nov. 1936)-HS-32 (June 1939).
General Note:
Title from caption.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 04752171
ocm04752171
Classification:
lcc - HD9435.U5 A25
System ID:
AA00011234:00004

Related Items

Preceded by:
World hog and pork prospects
Succeeded by:
Beef cattle situation
Succeeded by:
Sheep and lamb situation
Succeeded by:
Livestock situation

Full Text

SUNITZI STATiS DEPARTUiENT OF AGRICI.LT''FF
Bureau of Agricultural Lroiczr.iics
"u's iL;-", ton

HS-4 February 1937


--------THE HOG SITUATION



K Sulinary
I; ; i-"'CfY

Any advance in hog prices which may occur during the next 2 months

probably will be snail, since the effect of decreased sl:.u-hter supplies upon

prices in this period may be largely offset by the present large storage

stocks of hog products. When marketing of hogs from the 1936 fall pig crop

begin in large volume in late April and May,some decline in prices may occur.

If 1937 corn crop prospects are favorable, market supplies of hogs in late

surmLcr will be smaller than a year earlier, and hog prices in this period

probably will advance to the highest levels for the present marketing year.

In view of the continued low hog-corn price ratio and the current

short supplies of feed grains, the number of sows to farrow this spring

probably will be smaller than the number farrowing last spring by at least

as Liuch as 5 percent, the figure indicated by the December Pig Crop Report.

But, if corn production this year is about average or greater than average,

a considerable increase in the 1937 fall pig crop probably will occur.

Hog prices decline.-jl-ring the last 3 weeks of January after advancing

from late November to early January. Some recovery in prices, however,

occurred in early February. Inspected hog slaughter in January was 25 per-

cent smaller than in December but slightly larger than a year earlier. The

January decline in prices apparently was brought about by several factors:

large storage holdings of hog products; general anticipation that supplies

of hogs available for market during the ro nir.d:r of the year would be larger






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than was expected earlier; and some weakness in the demand for hog products

which developed as a result of floods in the Ohio Valley, strike conditions

and unseasonably warm weather in Eastern cocsuainr centers.

Storage stocks of hog products on February 1 were larger than average

and about twice as large as those of a year earlier. Accumulations of hog

products from Novoubor 1 to February 1 were unusually large, partly because

of the relatively large hog slaughter in Novebcer and Dbceorber, and partly be-

cause of the strong demand for hog products for storage. The increase in

storage holdi:-;s of pork and lard on February 1 compared with a year earlier

was equivalent to the products of about 2,500,000 hogs of average market weights,

Review of Recent Developments

Background.- Hog prices in the marketing year 1935-36
aver:-ed higher than in any year since 1928-29 and were more
than double those of 1932-33. The rise in hog prices since
1932 was due partly to the improvement in consumer demand for
meats and partly to the very small slaughter supplies of hogs
occasioned by the drought of 1934. In early September 1936
the weekly average price of hogs at Chica-ro reached $10.25, but
prices declined about $1 per i"cO pounds from late September to
late October.

Hog prices decline in January.- After advancing almost steadily from
late November to early January, hog prices declined durir.n the last 3 weeks
of the latter month. The average price of hogs at Chicago rose from $'.43
for the week ended November 21 to $10.41 for the week ended January 9, and
then declined to $9.99 for the week ended January 3''. The January decline
in prices ap-rrently was brought about by several factors, among which were:
the large storage holdings of hog products; the general anticipation that the
supply of hogs available for market during the remainder of the year would be
larger than was expected earlier; and sone weakness in the demand for ho:
products resulting from floods in the Ohio Valley, strike conditions and
unseasonably warm weather in Eastern consuming centers. In early February
hog prices recovered part of the January decline as a sharp decrease in market
supplies occurred.

Prices of fresh pork --:i lard declined sharply in the last half of
January after advancing in late Deccabor and early January. Trices of most
cured products wure about steady durin- the :onth. The composite wholesale
price of hoe products in New York averaged $..'?9 per 100 pounds in January,
compared with -" '.34 in ai c-..blr, and with $21.'2 in Jrnu:.ry, last year.


HS-4





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Prices 'er 100 -ounds of ho: -aroducts at Chicago,
by months, 1935-36 and 1.'.9-37


Month .Loins, 8-10 lbs.: Hams, sacked, : 3-con, s-.oked Lard, refined
S: reg. no. 1, : No. 1 dr cure, : 2. tubs
1nd: : 10-12 lbs. : 3-8 lbs. ___
*jeel;
:135-36: 13o-37: 1 5-36: 136-: 13 7:1935-36: 1936-37 : 135-36 1936-37

:Dollars Dollars Dollars Dollrsollllars Dollars Dollars Dcllnrs

Oct. :23.68 19.65 27.97 24.19 33.75 27.34 16.00 12.41
Nov. :21.55 17.25 27.88 22.81 33.81 26.84 14.38 12.66
Dec. 20.08 17.49 23.19 23.20 33.69 27.40 13.62 13.65
7e e.-
ended
Jan.9: 20.35 20.80 28.75 23.38 33.25 27.62 12.00 14.25
Jn~I6: 17.15 19.00 26.75 23.38 30.88 27.62 11.75 14.00
Jan23: 18.10 17.75 25.75 23.38 29.12 27.62 12.00 14.00
Jan30: 17.85 17.50 25.25 23.38 29.12 27.62 12.25 13.75

Jan. : 19.05 18.76 27.15 23.C8 31.12 27.62 12.15 14.00



S!-, 'ht.r in Janur;, rcdlcecd.- Ho- slau-hter under Federal ins-oction in
January, totalin- 3,519,000 head, wns sli htlyr ler er than in January last year
but was 25 percent s;-.ialler than the slu.uhter in Decenber. Average wei,_ts of
hogs marketed in January were heavier than in December but lighter then in
Jnu -ry a -e.r earlier. Unfavor.ble -verther and feeding conditions in the Corn
Belt resulted in the marketin.- of increased numbers of unfinished ho es during
the -past -lonth. Although the 1926 pig cro '-,.s about 20 percent lr'-er than
that of 1-S,. it seerni rob-ble in vier of the larre sl u hter from October to
January that inspected l-un-hter for the rem-ainder of the marketin-; year
(February through Se-'tember 1937) will be s7n"ller thPn that for the corres-onding
period r y7,r earlier, but not so snall as in 1934-35.

Lo].-' .--corn r-tio causes e"rly -trh:tin c, li .t oi-iht?.- The decline
in ho: -rices during Jnnuyry was acco:n-)nied by some stren:,thening in corn -"rices.
Basecd on -rices of ho.,s and corn at Chic'-o, the hoy-corn rice ratio for the
last week of January was 8.9 con-mared uith 9.5 a month earlier and 16.7 a year
earlier. The 10-year (1924-33) avera e hor-corn -rice ratio for Januar n the
basis of ?rices at Chicago is 11.6.

The ratio is now lower than at any tine since mid-Nove.-ber. The low
ratio and scarcity of feed in recent monthss nrob-bly will cause the 1937 spring
)pi crop to be sinaller than that of 1936, as was indicated in the Dece amor 1936
oi cro- report. The larre :nrkctinns of hoes thus far in the current marketing
year and the lighter average wrei hts of hogs also have been partly due to the
fact that the ratio of hog prices to corn -rices has been below average.


HS-4




HS-4 4 -

Storn.e stocks of -ork and lard mlr e on February 1.- Storace hold-
in s of 'ork and lard on F,.br%.-.ry7 1 were lar -r than a month earlier, consid-
erably lr-cr than a year earlier, and lar-;r than ~:er-..-e. Holdings of pork
on February 1 were about 11 --crcent greaterr than on January 1 and about 70
norcent lar.cr than on February 1, 1936. Stocks of lard on February 1 were
25 -ercent -reater than a month h earlier and about 140 -ercent g-reater than a
year earlier, and were the lar est for February 1 on record. Storage stocks
of -,ork and lard, however, did not increase so much in J.aru--ry as in Novem.ber
-nd Dece.mbr. Stocks of ho. -)roducts on Janua;ry 1 rere about the same as
those on the corresn-ondinr dates of 1935 following the 1934 cr..: ht, but on
February 1 they :-ere considerably larger. In 1934-35, however, stora e hold-
in's did not increase -reotly from 1-ovember 1 to F,:or .-,ry 1, whereas in 1936-37,
stocks of -crk and lard nearly doubled during" this -eriod.

.ost of the increase in stora e holdin-s of nor!: in recent months ihas
been in frozen -ork. Stocks of frozen -ork on February 1 were about four
tines as lar.,e as on November 1, and three tines as lar e as on Febr. r 1
last year. T., .c--_: -.- r.in- table shows the )ercenta ;e which frozen -ork
represented of the total ?ork holdin-s on January 1 and February 1 of this
year, with co:rparisons for earlier years. On February 1, 1937, stocks of
frozen nor: .'ere the lar est for that date on record, and were the s,1-:.:.. '.
lar _.,t holding s of this product'ever reported. T-'-..: -r :.-.rtion which they
represented of the total -ork stocks also was the lar est on record.

Changes in stocks of cured -ork and pork in -rocess of cure are lar ely
a reflection cf chan-es in slau-hter sup-lies since curing' is a neceP--ry'
nart of -ork operations. Stocks of frozen work, to a considerable/reores nt
products which are usually sold as fresh -ork or in direct cor:metition with
fresh pork. Consequently accumulations of frozen nork tend to be lar e when
orosnects of higher prices are evident. Changes in holding's of the frozen
-roduct in relation to total stocks of nork therefore reflect to some extent
c an -es in storage demand for ho- products. On this basis it a-nears that the
stora-e cle:.mnd for ho;, products wacs much stronger from October to Decer..ber
1936 than it was a year earlier and also was some':hat stronger than 2 ;ears
earlier.

Stora e holdin-s of total and frozen pork, and frozen as a cr:.r.-.ta e
of total, January 1, and February 1, 1 .:J-37

Total -ork Frozen nork Frozen pork as a
Year :- : __ ___ __ _- r.'a- : _t-,al
J,"n. 1 Feb. 1 Jan. 1 Feb. 1 Jan. 1 1

Sl,' 1,000 1, 0: 1,0'C
cunds percent P'rc '.:

1970 ,: '-,086 *:-' ,1C6 145,078 178,: 23.4 .0
1331 521,192 7:., 4 1.:,994 215,122 :.6 .7
1i32 : *'.., 306 674,151 141,758 187,-:-1 25.2 27.7
1 : 490, --' 575, -'4 101,793 I-.:,' 20.7 24.9
134 : 3' _,66 730,404 129,." 177,' .6 ..
1 .: -' : .7 667,9-4 L-0, :' 224, 1 ,1 .6 6
1 -: -" ,777 4 C.4; 58,270 1 7,153 17.8 ...
1337 : >, 89 1 1_/739, : -,,7-:,: l/ : ,7 C, -.7

I/ Preliminary.







Th-t a strong stornae demand probably would develop in the late fall
and early winter was indicated in the Outlook reports of this Bureau last
fall. Storage demand for hoc products was strong in the winter of 1934-35
because a marked decrease was ex:-ecte in the number of ho, s available for
ma-rket the following spring and su.incr. In recent _.:onths the storage demand
situation has been somewhat similar to that -revailin- in 1934-35. It is
not likely, however, that the decrease in market supplies of hoo:s cdurin. the
remainder of 1936-37 will be as lar e as in 1934-35, nor is it likely that
prices of ho's and ho- --roducts will advance as much durin- the remaino2r of
1936-37 as they did from Februar to Sentenber 1935.

Lard c *-.ortr 1 -r in 1l-'5.- t.-.-r. iT. 1"., r' ex- .'rts .--.1 1:r.-
Changes in e:xorts of pork and l.rd from the 'United States for the years
1900-36 arc shown in figure 2. The downward trend in ercorts from 1)25 to
193-1 was the result of the expansion in ho -production in Eurone and restrictions
on imports irenosed b several i=u-ortin. countries. The decrease in United
States e-ports in 1935 and 1936 was due chiefly to the greatly reduced ho.-
-rjl.'ction and relatively high prices for ho- products in this country.
Total ex-orts of nork in 1936 were 23 percent smaller than those in 1935.
Lard exports in 1936 were 15 -ercent larger than in 1935, but exce-t for 1J5
they were the smallest in about 50 years.

Total ex-orts of oork in December were smaller than those in Novce'ber.
The quantity of pork shipped abroad also was somewhat less than that of a year
earlier both in December and in the first quarter of the present marketing
year, October-Decenber 1936. Smaller bhi:'.:rnts of hans and shoulders to
Great Britain account for the reduced total --ork ex-orts durin-- the first
quarter of the 1936-37 narketin:, year. Exports of canned nork have increased
-ra dally in recent months, and in December they -ere bsout one-third as large
as the exports of cured pork.

Although lard exports in December were smaller than those of the pre-
ceding month, exports exceeded those of 1935 both in Deceiber and in the
first quarter of the marketing year 1935-36. E~xorts of lard to Cuba, Germ-any,
Hexico and the Netherlands in the period from October through Decenber 1936
exceeded those for the sa.e period in 1-',5; the increase in shipments to
these countries accounts for most of the increase in the total export movement
of lard from the United States. Exports of lard to the United Kingdom in De-
cember, while slightly larger than those of a month earlier, were sor.ewhat
smaller than in December 1935.

Hor Situation in Foreign Countries in Brief

rit-is] ir, icrt qu:t-a fixed' for Jrnuir;-:,- rc1 1/.- Following the
invalidation of the 1337 pi' contracts by the Baco.n arketini Board, the
British quota for imports of bacon and hams for the -criod January thr:.u-h
March was fixed provisionally at the same rate as was announced earlier for
the first 6 weeks of 1937. Under this -rovisional quota the total imports
of bacon and hans from foreign sources eremitted entry into the United Kin "oni
for the 3 months will be about 148,000,000 -ounds, an increase of 4 percent
compared with the quota for the same -eriod in 1936. The share of the United
States in the Eritish quota continues to be 8.1 percent of the total.

I/ R-.ort from C. C. Ta.ylor, Africultural Attache at London.


HS-4


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Hognumbers at record levels in Germany 2/.- The number of hogs on
hand in Germany on December 3, 1936, was estimated to be 25,752,000 head,
13 percent larger than at the same date in 1935. This is the largest number
ever reported in December. As shown in the accompanying table the number of
all classes of hogs was larger than a year earlier.

The number of bred sows was estimated at 1,196,000 head, the same as
in December 1935. Although the number of bred sows from 6 months to 1 year
old were 9 percent smaller than a year earlier, the number of such sows over
1 year old was 3 percent larger.

Slaughter hogs, namely, hogs other than boars and sows over 6 months
of age, numbered 7,527,000 head in December 1936, or 18 percent more than in
December last year. This increase indicates larger marketing of hogs in the
first half of 1936 than in the corresponding period of 1935.

Germany (excluding the Saar): Number of hogs, December 3, 1936, with
comparisons

: Hogs 6 mos. to 1 yr. Hogs over 1 yr.
Dec.: Pigs : Pigs : : Brood sows : : Brood sows :Grand
1 4: under : 8 wks.: Slaugh-: : In far- : Slaugh-: : In far- :total
: 8 wks.: to : ter : Total :row(preg-: ter : Total:row(preg-: 1/
: : 6 mos.: hogs : :nant) : hogs : : nant) _
Thou- Thou- Thou- Thou- Thou- Thou- Thou- Thou- Thou-
:sands sands sands sands sands sands sands sands :- rds

1932 : 4,834 9,884 5,278 485 259 884 1,384 851 22,E59
1933 : 5,126 10,353 5,386 549 306 899 1,465 923 23,890
1934 : 4,512 10,052 5,836 452 244 ..3 1,329 823 23,170
1935 : 4,745 9,528 5,558 543 314 801 1,408 882 22,722
1936 : 5,186 10,687 6,646 516 286 881 1,513 910 25,752


Compiled from cable from Agricultural Commissioner H. E. Reed, and ori-inil
official sources.
i/ Includes boars not listed separately.

A new order for the r -.-la tiSn of the German livestock meat industry be-
came effective January 1, 1937, the objectives of which are to provide regular
-:r;~ ies to consumers, to encourage production, and to maintain fair prices for
livestock and meats. One of the outstianin,: features of this order is the
fixing of a new serie-. rf ..ric:. f.r h,.-s.. Prr':i.ousy :.rice .:-re -..intined
at the same level thro- -hout th year.r In the s:t., :r'plios cf iv-j had bten
very short in the sI'lr.-r :nd .umu-u-.L.;y 1-.rge in the wir.ter beca.iise of the
lack of incentive to .-rry feed- for :u.:Y-.e9r f .tr.ing. E. ri.n 193, howeverr,
the fixed prices for h.,:-- will be r.i._-hr iurin.: t.:e pEric'i from July t roughh
October.than during :.n., :t.r.,-r .crici of tne .*:-r.


2/ Reports from H. E. R.-.-d, A,-ric l' Ir- Cor.-..i :in.r t -r riin.


HS-4


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Outlook in Canada.- The increase in Canadian hrz marketing, which
took place during the summer and autumn of 1936 as a result of the unfavorable
ratio between hog and feed prices is expected to continue to the spring of
1937, according to the Agricultural Outlook of Cmnada for 1937. Hog market-
ings are expected to be more moderate during the sunmer months of 1937,
whereas fall and winter supplies may show some reduction from those of 1936
as a result of decreased breeding in the autumn of 1936. Supplies from the
1937 spring farrowings are not expected to -.Fpr.-ch the high output of the
fall and winter of 1937.

Canadian trade statistics show that bacon exports for the year 1936
amounted to 158,C,',),000 p.->~rd, an increase of 26 percent above 1935. Ship-
ments to the United Kingdom constituted 98 percent of the total nnd showed
an increase of 24 percent above the preceding year. This was the largest
shipment of bacon to the United Kingdom from Canada since 1919 when 245,(C1.',000
pounds were exported. It is, however, considerably below the quota of
285,000,(,,,0 pounds -cru nted to Canada by the Ottawa Agreement. There also has
been an increase of lard exports from Cana.da, the total quantity in 1936
amounting to 29,284,000 pounds, 99 percent of which went to the United Kin-!dc.m.

The Outlook

Background In the January issue of this report the follow-
ing conclusions with respect to the hog outlook for the current year
were stated: (1) Inspected hog slaughter for the marketing year
1936-37 is expected to be from 12 to 16 percent greater than that of
1935-36; (2) Slaughter during the winter season (October to April)
probably will represent a larger-than-average proportion of the
total yearly slaughter; (3) Hog slaughter in the late summer is likely
to be smaller than that of a year earlier; (4) Consumer demand for hog
products is expected to be somewhat stro-.er in 1937 than in 1936.

Slaughter ;ui.i.lie- of hogs probably will continue to decrease during
March and April. Short supplies of corn and high corn prices in relation
to hog prices apparently resulted in a much larger-than-usual proportion of
the spring pig crop being marketed in the period from October tro;jgh December
1936. Hence the number of hogs available for market in the period February
to April is considerably smaller than it would have been if sur.;li3s amd
prices of corn had been more nearly normal. The seasonal decrease in hog
slaughter from December to March, therefore, is expected to be greater than
usual.

The accumulation of hog products in storage in November throw-h January,
however, was unusually large and on February 1 such stocks were about twice
as large as a year earlier. The increase in storage stocks of hog products
on Feor.ar. 1, compared with a :ar earlier, was equivalent to the products
of about 2,500,000 hogs of maver'ge market weight. This increase in storage
holdings probably will more than offset any decrease in slaughter supplies of
hogs occurring during the remainder of the hog marketing year (through September
30, 1937).


HS-4


- 7 -







Hog marketing during late April and May probably will show a consider-
able seasonal increase, since the 1936 fall pig crop was 6 percent larger
than that of a year earlier, and the proportion of 1936 fall pigs farrowed
early was above average. In the late summer, market supplies of hogs will
be reduced materially from the level prevailing in the early summer, and
they are also expected to be smaller than supplies in the corresponding
period of last year.

Marketings of ho.~ during the co.in.; summer, however, will be affected
to a considerable extent by corn crop prospects. If such prospects are
favorable, a large number of sows will be retained and bred to farrow next
fall, thereby reducing the available market supply for the late summer below
what it would be otherwise. Also, if prospects for the 1937 corn crop are
favorable, a considerable number of 1936 fall pigs will be held for finish-
ing on the new corn crop rather than marketed during the summer, as is
normally the case.

In the January issue of this report it was stated that a moderate
seasonal advance in hog prices appeared probable during the late winter and
spring as slaughter supplies were reduced. It now seems probable that the
effect upon prices of the expected decrease in slaughter supplies will be
offset to a considerable extent by the present 1- r.- storage stocks of hog
products. Tr.en marketin.-. of hogs from the 1936 fall pig crop begin in
large volume in late April or ..- some decline in prices may occur. With
favorable corn crop prospects and small slaughter supplies of Lho.- in late
summer, hog prices in th-.t period probably will advance sharply and .re
likely to reach the hi'..: .t level for the Log marketing year in A-~_,at or
September.

Supplementary V i.ta

Table l.-Aver-._-, price per 100 pounds of hogs at Chicago, and
slaughter of hog;s under F..-.'.r1 inspection, by months,
1934-35 to 1936-37


;.-'r.th Average price Slaughter 1/
: 1934-35 : 1935-36 : 1936-37 : 1934-35 : 1935-36 : 1:*7-3-7
: Dollars Dollars Dollars 1,(C00 hca dl headl, F'.: --1

Oct. 5.60 9.83 9.55 3,545 2,135 3,4'2-
:.'. : 5.66 9.31 9.48 4,312 2,422 4,. ;
Dec. 5.89 9.57 9. 4,197 2, :7 4,681
Jan. : 7.70 9.85 10..-4 3,048 3,425 3,519
Feb. : 8.35 10.37 2,409 2,319
:: r. 9.09 10.24 2,15 2,617
Apr. : 8.94 10.47 2,1" 2,559
May : 9.31 9.58 2,172 2,579
Jne : 9.27 9.88 l,.: 2,739
July : 9.49 9.76 1,712 2,6 C
A.. 10.78 10.06 1,:' 2,2
Sept. :10.95 9.89 1,453 2,403

Av. 8. 9.90 e r oI
7-,:tal :-,",_: 31, ,jf
I/ Compiled from records of the :r :'u of Animal Industry.


HS-4


- 8 -






:IS-_ 9 -



i'(l'e 2.- A7erae live weight of' hoes, end :packin: sows as a pcrcent;;"e
of total packer and shipper purchases at secvn leadin-, -ark:ets,
by months, October Janucry, 1935-35 to 1C36-37

S: ckin s3ows es a
MKonth : IHs, a7er- -- live weight :percentage or total packer
and shipper purchases
: 1934-35 : 1935-3"6 : i '.R-37 : 1'J.:' -36 : 1936-37
P: und s 1.] Pounds Percent Iercent

Oct ......: 218 242 212 23.0 13.0
No07 ......: 207 232 2(8 10.0 6.0
Dec. ......:. 202 231 214 6.0 5.0
Jan. ......: 213 232 218 4.0 4.0






Table 3.- Avernge price of corn at Chicago and hog-corn price ratios,
specified locations, average October-January 1934-35 to
1936-57, by months October-January 1936-37

:AvcrAerge rice: -
Ye:AeraCge price: _TI-corn price rtios b.sed on 1/
Yeor :per bushel of:
and :IT. 3 yellow : Chica-e :-rTh~T: T .U.
month :corn at : p s :States f-rm : States
prices
:Chicago : prices : farm prices
Cents Bushels Bushels Bushels
Average
Oct.-Jan.
1934-35 86.0 7.2 7.0 6.9
1955-36 : 66.0 14.8 17.0 15.4
1936-37 : 108.0 9.1 9.4 9.1

1936-37
Oct. 106.6 9.0 9.4 9.4
No.1. 104.7 9.1 9.2 9.2
Dec. 107.2 9.3 9.5 9.5
Jan. 112.2 9.1 9.4 9.3

1/- Number of bushels of corn equivalent in 7valuo to 100 pounds of ii c
hogs.





HS-L 10 -



T ble 4.- Storage holdings of pork and lfrd on February 1,
average 1932-36, annual 1935-37, end January 1, 1937

:Feb. 1
Item : a7erago : Feb. 1, : Fbh. 1, : Jan. 1, : 1ib. 1,
1932-36 : 1935 : 1. : 1937 : 1937 1/
: ,000 1,000 1 1,0 : ',000
Sounds pound s poun pounds po und s
Pork:
S............ 166,952 224,180 103,153 285,786 322,765
Dry salt, cured,
and in process
of cure ..........: 89,081 69,358 79,664 66,512 76,210
Pickled,cured, and
in process cf
cure .............; 360,699 374,446 253,225 314,593 340,191

Total ........ 616,732 667,984 436,042 666,891 739,166

Lard ................. 97,639 112,497 75,669 145,809 182,319
1i Preliminary.


Table 5.- Exports of pork and lard from the United States,
December, Octoboor-Dcmber, r.nd calendar year,
ar-or-e 1925-29 Dand 1930-34,
annual 1935 and 1936


Pork exports 1/ Lard exports 2/
Yeoar : : Oct. : Calendar yer r : : Oct. : C lender year
:Dec. : to : Total Dec. : to :Total :' c...t .
: Doc. : :production 3/: : Dec. : :p_-3..!ution 31
:1,000 1,000 1,000 1,000 1,000 l,'
:-"'i-- pounds pounds Percent i: -. pounds po':..s Prcent

1925-29:27,960 78,536 369,906 6.5 73,735 187,814 1,:' ::.
1 .: -34:10,978 35,970 169,217 3.0 46,'C.3 127,195 1i,120 -..6

19 4,*. 16,4": 88,680 2.5 7,.r 1,-'. 97,355 14.7
1036 : ,145 15,216 67,. 1.4 9,473 29,672 11 ,1 11.3

Corpilod :' reports of the ;niitcd Stte s Do -rtment of C mnrcrce.
1/ Ircl ic3 brcon, hams should ers, and f -esh, c:imcd r:nd pickied po:.
2/ Inclu es nectril l ard.
3/ Production front fc der:llv inspctd slru1:ittr of .







STORAGE HOLDINGS OF PORK AND LARD ON FIRST OF EACH MONTH,
AVERAGE 1930-34 AND 1934 TO DATE


150
1934-35




100





50





0
OCT. NOV. DEC.
U S DEPARTMENT OF AGRICULTURE


JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT.
*PRELIMINARY NEG 31410 BUREAU OF AGRICULTURAL ECONOMICS


FIGURE I




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