The livestock and wool situation

MISSING IMAGE

Material Information

Title:
The livestock and wool situation
Physical Description:
52 no. : ; 28 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
United States -- Dept. of Agriculture. -- Outlook and Situation Board
Publisher:
Bureau of Agricultural Economics, U.S. Dept. of Agriculture
Place of Publication:
Washington, D.C.
Publication Date:
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Livestock -- Marketing -- Statistics -- Periodicals -- United States   ( lcsh )
Animal industry -- Statistics -- Periodicals -- United States   ( lcsh )
Wool industry -- Statistics -- Periodicals -- United States   ( lcsh )
Genre:
federal government publication   ( marcgt )
statistics   ( marcgt )

Notes

Statement of Responsibility:
Bureau of Agricultural Economics, United States Department of Agriculture.
Dates or Sequential Designation:
LWS-1 (May 1942)- LWS-52 (Dec. 1946).
General Note:
Title from caption.
General Note:
Approved by: Outlook and Situation Board, 1946.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 004884702
oclc - 01780425
lccn - 46034600
Classification:
lcc - HD9414 .A121
System ID:
AA00012196:00002

Related Items

Preceded by:
Livestock situation
Preceded by:
Wool situation (1937)
Succeeded by:
Livestock and meat situation
Succeeded by:
Wool situation (1947)

Full Text


I.. T ;H EPl^





SITUATION


BUREAU OF AGRICULTURAL ECONOMICS
UNITED STATES DEPARTMENT OF AGRICULTURE

S P-3 JUL


SPRING AND FALL PIG CROPS. UNITED STATES. 1924-42


FALL CROP


SPRING CROP


1924 1926 1928 1930 1932 1934 1936 1938 1940 1942 1944
1 PRELIMINfAR
ABASBD ON NUMBER OF SOWS INDICATED TO FARROW IN FALL OF 1949 AND AVERAGE
NUMBER OF PIGS SAVED PER LITTER DURING THE PAST YEARS


U S DEPATIIINT Or AGICULTIIRE


*E& 39J33 BUREAU OF AGRICULTUGAL ECONOMICS


HOG PRODUCTION IN 1942 WILL SET A NEW ALL-TIME RECORD. THE NUMBER
OF PIGS RAISED DURING THE PAST SPRING TOTALED NEARLY 62.0 MILLION HEAD,
25 PERCENT MORE THAN THE 1941 SPRING CROP, AND MUCH THE LARGEST SPRING
CROP ON RECORD. THE NUMBER OF SOWS INDICATED TO FARROW THIS FALL IS
ALSO 25 PERCENT GREATER THAN A YEAR EARLIER, AND IF THE NUMBER OF PIGS
SAVED FOR LITTER IS ABOUT AVERAGE THE 1942 FALL CROP WILL TOTAL 43.5
. MILLION HEAD. THIS IS ABOUT 50 PERCENT GREATER THAN THE AVERAGE FALL
CROP OF THE SEVERAL YEARS PRIOR TO THE 1934 DROUGHT.


Lu


Y 1942


* .:


;N



.: .; ...
''*:'"Y3






















































































z
N O0
-J
_r


1 en'
C?











c I | D 0 o1
U
-%
lO
0:




ui


I x
S- 0
x-a x 0' o
-d D w c U
0)2- > x
2WL-0. & -
- L. 0
0> c O L
X _Ope X n
0 2La U"',. Z
- <> --
X -0 (WI-
0-103 F- r Z
a Z 3 U 0
M h 000



0 0 I )-

40I- O >





00 2
SrZ-I 0)
d 0 -J -
X J ()0 0

QLL = _1 0L.

SC1 -0 _
O b. a. w
0 0. M i
S0oj 0 q m0.
_j ia 0 LL Cp 4c 0.

4 t-2 >-of
A 0uo 0 a 0
CQ. L <
-Z V0 cr h- z
C < a.0C a 0
IiL u 0 ro -
Ot D) I-CO-
0 m m (0 iA I-
zzOz ro "
O O c01
- z UCJ- n
iuo 0 z
I-aO au
2 I-- O I- i 0
M 0. 4w I
SW- liJ I--


N 2 z a-


Ow 0 X
I o Ma wL Xa





* A w CMj
- XIC- D- 1*- t
)-0O0 W < 2C 1
w Zw -
m0- 0 IE
M 2 U. 1.. U.
0 Z2090
-. E>. -4 0
ia >0 t. (C 2S I0







LWS-3


- 3- -


THE LIVESTO K AND W70 L0 SITUATI ON


Sum.ry

Prelirminary forecasts of a record 1942-43 ho,T slaughter were confirmed

by the Juno pig survey, which indicated that the 1942 spring and fll -i,

crops coiibin:d would total slightly more than 105 million head. This year's

spring crop is now estimated at 61,976,000 head, 25 percent lprjcr than last

year cnd much the largest spring pig crop on record. The number of sows in-

dicated to farrow this fall is also about 25 percent greater, and if the

number of pigs saved per litter is average, the fall crop will totnl about

43.5 million head. This record number is over 60 percent more than the aver-

age number of pigs raised during the fall season for the 10 years prior to

the 1934 drought.

On the basis of these large increases in the 1942 pig crop, total hog

slaughter in the 1942-43 marketing year (October-Soetember) is expected to

exceed 90 million head, and the number slru;htcr-d under Fd -.ral inspection

may be about 65 million head. With a fourth more hogs to n3rkct this fall

and winter, farmers are being urged to fatten and market eorly pigs as soon

as possible and carry late pigs beyond the Decc:bbcr-Janury marketing peak

to avoid the danger of overloading transportation facilities and prckirg

plants during the peak period.

The weekly rate of hog mrrkotings decreased sharply in early July,

and it appears that the summer peak in hog sl-ruhter has been passed.

Slaughter supplies of hogs probably will continue somewhat larger than a

year earlier during the remainder of the irrkctiing year (through September),

but the July-Scptcnbcr total is expected to be substantially srmller than

that of the preceding quarter.
1.






JULY 192 --4'.

3 :;rJn;i' July 31,'fh: new '-..l -.o price regulation for beef bcvano

effective (a imnun Price ctgu];;ioh .* l5)o. Un'ort -'.-:.: ---.".Ot-On lingg

prices are ostc.lis~hd by l rrd. s : ore ncrly in line -I the pri: ca rhiic

tu.ally prnovailid in l-ir"t. iLth prices of choice st.rs now slightly, be-

low highest Mnrsh -'S-.'.. current prices for tho upper r-'dcs of sl.-u.ht-r

c-.ttlo no7w '.r :-r to Ie fairly well in line with-thc hi:,"--t pric:. pcr:.iittcd

by rthe boc. p:.ic c'.li':,- Tr:'.-,s of' lower grdeu still -bovc the? ;-lrch level

n, be ~t d Ti.nward n.d under thc now or&ero

Al'.: i thcco is some "':' .il:.'j.::1.that r--~. crtttlc n'cics will caken

seoaonally dLri:'- the next norn'h or so, the price outit:. iK for t.iis fll is

oo.:)o. The --.*.':r-l lurel of prices of f -:.-r an'rdgrass f't -:..l1 is expected

to continue cubste, tica,l;y higher th- i in the socoi.L hrif of i1-'1, -Then prices

for sucl- cr.tle w're the '. st :n over 10 -.- 1sa

SCa.tt :;c reports contir.1o to iniriiato that the 11'2 lnlb crop n-y be

slightly sn Jlcr th-.n the rcccrd. crop lest yoro eBoc'.s.: of r ivrsc %wc.ther

conditions during shearing nrid 1-..-ng, the number of l-'.ts sv;:d pi_'r hundred

owes in the '.';,torn Sheop Ztatcs probably will be s ,illr'- th-n the record

pr.-:? ..:rcent;ego s~eod. last' ycr, offscttir.:: the slight ir.cr--s: in the nunbcr

of stock : shcop on fIr.rns
summer and fell deli -:r; his boon r-ther lirtited at prices -vcr.i.g -.roun'd

$10 to $11 for lafsco in fecdor cor, '.iona

:r. : '-int;' t!.'r-. r.in- price -r.qi consumption regalt ions contributing to

7.:.:n. 1 1i. r:.- .d. .tic wool narkot has booi largely cle.-'rd up br r:ccnt

ord-.r of tl..: 'ffi': of Irico .;.~:.niz.t: nation ;n-i the 7-r Pr.oduction Borrd.

The :- .f r.:tr-i:.. f:ctor in the dencstid narkst no-' *-ppers to be un-

crt:-iit r r.ii,.. now Army cqi".lroenatsa T:'.c r,-to of 7.ill onsu.:intion of

e.pp...rcl ".:.l in ::-,wes sli--.:. blow the rccorcl April r'tc. With lIrgo






---5 -


orders for Army use, consumption probably will -continue at record levels

through most of this year.

July 23, 1942

REVIEW OF RCE-IT DZViLOPi. ETTS

Hog Prices Rech ITw High in Early July

Hog prices r.-dvinc-d to a new 16-yoer peak at Chicago, reaching a
top of $15.00 on July 6. Prices have weakened slightly since then but are
still sconewnh.t higher than in mid-Juno. The nxverago price for butcher hogs
at Chicago for the reek ended July 11 was $14.60, compared with $14.10 a
nonth earlier and $11.00 in the corresponding week of 1941. With a seasonal
incrcasc in mnrkctings of sors, the spread between prices of butcher hogs
and packing sows h's widencd during the past scver1 weeks.

Average prices for hogs are quite high relative to coiling prices
for pork -nd lard, rflctinic unusually active competition between packers
for hogs in order to supply both lend-loeso and domestic dcir-nd for pork and
lard. In c.rly July the spread between live-hog and hog-product values, as
calculptod on the bisis of current market prices, was only 2 cents comiprcd
with 83 cents a year earlier, and the 1936-41 r.v*r- e for July of s.bout 30
cents.

Noar-Rccord Ho. Sl auhtor in June

The weekly rr.td of hog marketing during June continued substantially
greater than a yeor earlier, but decrpescd sharply early in July. Inspected
hog slaughter during June totaled nearly 4.6 million head, 5 percent gr.zatcr
than in May and 37 percent greater than in June 1941. It was the second
largest June slpu -itar on record. Last season the mid-year peak in hog
marketings occurred in May. The later peak this season reflects sc-im
tendency to fccd hois to heavy weights and the later farrowing date for the
1941 f-ll pig crop. The average weight of brro's and gilts purchrsced a.t
seven markets in June was 3 pounds heavier than a year earlier and 7 pounds
heavier than the 1936-41 June Pvcrgoe.

Government Purchases of Pork Increseod in Juno

Purchases of pork products by the Fcderal Surnlus Commodity Corpora-
tion during Juno totaled slightly more than 200 million pounds equivalent
to roughly 30 percent of the total amount of pork rro'..uccd under Fcd.ral in-
spection and the second largest monthly total since pT.rch-sin- w.s begun in
April 1941. The D.-p'rtment of Agriculture recently announced that the
purchase of scvcr-l cured and smoked pork products will be temporarily dis-
continued, thus allowing greater quantities of those meats for domestic
consumption. Lard purchases during June of about 66 million pounds were
equivalent to roughly 45 percent of the month's federally inspected output
of lard.







JULY 1942


Storage Stocks of Pork and Lard
Reduced in Juno

Storig stocks of both pork and lard w.re reduced ec-sonplly in June.
Total pork stocks on July 1 of 524 million pounds wore about 175 million
pounds snallcr than a year earlier "nd slightly below -ver-.gc for this time
of year. The net out-of-storage movement of lard during Junc .nountcd to
about 16 million pounds, reducing lard stocks on July 1 to 94 million pounds -
considerably below vergee July 1 stocks ..nd only about one fourth the record
July 1 stocks last year.

Fed Stoor Prices 'r,.n.thoe in E-rly July

Prices for well-finished slaughter cattle advanced nodor.tely in late
June and early July, reflecting sonO reduction in supplies. But a decline
in prices of lower grades of slaughter ste rs and of cows, which have boon
quite high in recent weeks, widcn:d the spread bctwo.cn rliccs of the upper
and lower grades of sl~.Ahter cattle. The r'.rage pri:- of Good gr'-de beef
steers at Chicago for the week c .idcd July 11 vws $13.3.5 This conp'-rcd with
$13.00 a month earlier r-i $10.65 in the corresponding 'oci l.c t ycr. Prices
for feeder crttlo doclincd moderately during th,. pat i,:-, wo'7cc, -lthough re-
maining high relative to prices of cl11-finishcd slug!ht._r, c-ttlc. The average
price of all feeder steers at Kanss City in lid-July at $11.10 wrs about
$1.00 lower than in early June.

June Cattle g1-u 't r Sots New Record

Markotings of sl.ug-iter cattle picked up shar-rly during June after cur-
tailment in May following the announcement of price ceilings for beef. In-
spected cattle slaughter for June totaled little ov..r 1 million hc-d, 17
porccnt larger than in May and 20 percent l-r'r-'r th-n in June 1941. Co.nercial
cattle slaughter for the nonth was the lcrEgst on record. Inspected c-ttle
slaughter for the first 6 months wTs 17 percent gr:a.t.r this year than last.

The prcontago increase over i-st yeor in rni-rctins- of c.lves for
slaughter has boon smeller than for c-ttlc. InsTc:_.:d c-.lf slaughter in Juno
of 475,000 head was 8 percent larger this ye.i t'.. l.st, but the total for the
first half of the year was greater by only 3 prczlt.

Feeder Cattle Shipments Relatively Largo
in May and Juno

Purchases of feeder cattle by Corn Bolt f-rners during May .nd June
were a little larger than a year c-rli:r. As shown in the -cco:.p?-.nying table,
direct shio:-cnts of feeder cattle during June were reduced sorniehn.t from a
year earlier, but this decrease was offset by larger shipments frorn public
stockyards. The movement of grass cattle fror. Krnsas and OK)-.ho-.a pastures
is now under way, but market reports indicate that ;.iny of these cattle are
being purchased for slaughter. Movement of range cattle and calves from the
Southwest hes boon unusually heavy.


- 6 -






SLWS-3 7 -

Table 1.- Shipments of stocker and feeder cattle, 1941 and 1942

r Shipments to seven Corn Belt States I/ Shipmcnto
Month I Direct s From public I Total s from four
a t stockyards : markets 2/
S1941 s 1942 1941 s I42 : 1941 r 1942 s 1941 ; 1942
SThou- Thou- Thou- hou- Thou- Thou- Thou- Thou-


sands sands


sands sands sands sands sands


a 28.9 16.8 75.1 72.3 104.0 89.1
* 18.7 12.1 54.1 49.2 72,8 61.3
* 24.9 17.1 57.8 67.4 82o7 84.5
: 3U.6 42.2 72.8. 84.1 108*4 126.3
S32.1 27.1 63.9 63.8 96.0 90.9
: 23.3 18.4 46,4 61,2 69,7 79.6
: 24.2 58.6 82.7
: 45.1 97.6 142.7
r 117.2 153.0 270.2
: 173.1 231.7 404.9
: 91.4 182.2 273.6
: 51.1 137.7 188.7
: 665.6 1,230.9 1,896.5


48.2 53.6
39.4 42.9
44.8 58.8
56.6 72.9
36.8 45.7
27.7 32.5
31.8
53.1
110.7
146.6
94.9
94.9
785.5


I
S Ohio, indiana, Michigan, Wisconsin, hiinnesota, Iovir, Nebraska.
J Chicago, Kansas City, St. Paul, Omaha.

Lamb Prices Decline

Spring lamb prices advanced sharply in early June, then weakened
somewhat in the latter part of the month and in early July. The average
Price of Good and Choice lambs at Kansas City for the wee' ended July 11 as
$14.30, compared with about $15.00 in late June and o11.10 a year earlier.
Despite the recent decline, the average price received by farmers for lambs
is still above the level at which ceiling prices nay be established. The
average price of $5.65 received for sheep in mid-June, however, is sub-
stantially below 110 percent of the parity price.

Sheep and Lamb Slaughter Little
Changed DuFring June

The number of sheep and lambs slaughtered under Federal inspection
in June totaled nearly 1.5 million head, about the same as in May but 7
percent more than a year earlier. Slaughter for the first 6 months was 5
percent greater this year than last and was the largest for the period on
record. Market supplies now consist chiefly of new crop lambs. Except for
Texas yearlings, most of the lambs from the 1941 crop have now been marketed.

OUTLOOK HOGS

BACKGROUND.- Hog prices declined to a low level in 1940, so that
a reduction in the 1941 pig crop was in prospect. In December, 1940
farmers were urged not to reduce the spring pig crop. And in April


: i:L :


t..


* sands
I


Jan.
Feb.
Mar,
Apr.
SMay
June
July
Aug.
Sept.
Oct.
Nov.
DeTotal
Total


A.. : 4 "!.?
. ~ ~ **; :E ...*"! I .







JULY 1942


A -
,t.c


- -


1941 they were asked to step up hog production as rapidly as
possible. Government support of hog prices was assured at a
level substantially higher than in late 1940, and prices
advanced sharply in response to expanding consumer demand and
lend-lease buying. As a result, the 1941.crop instead of being
reduced sharply, was 5 million head greater than the 1940-orop;
a further increase of 20 million head in the 1942 pig crop is
indicated.


1942 Spring Pig Crop Largest On Record *

The 1942 spring pig crop totaled 61,976,000 head, 25 perrcnt larger
t'an the 1911 crop and much the largest spring pig crop on recorded The
December 1Cl pig survey indicated 62 million head on the basis of breeding -
int4nticnF reported by farmers, The number of sows actually farrowed this
spring was slightly smaller, but the number of pigs saved per litter was a
little larger. :

As shown in the accompanying table, the 1942 spring pig crop vras up
sharply over that of last year in all regions, with the greatest percentage
increase in the South Certral States, and the greatest actual increase in
the Western Corn Belt. The Western Corn Belt lagged behind other regions in '
increasing hog production after the 1934 and 1936 droughts, so that most of
the 10-1/2 million head increase in this year's spring crop over the average
for pres-drou&ht years is in the E'stern Corn Belt and other regions outside
the oErth Central Area.

Table 2.- Spring pig crop by regions, 1924-33 average, 1940-42

S1924-33 : 1942 asproentg e of
Region average 1940 : 1941 : 1942 194 :192-3
average 1941_
Thou- Thou- Thou- Thou- Thou- Thou..
i sands sands sands sands sands s nds
North Central States i


East
;e 3t
Total
Other regions
N. A.
S. A.
s. C-.
L'est
Total
United States


* 11,810 14,166
: 29,J86 23,171
" 417T-Ja 37,337
t


14,247 36,777 118 142
23,688 30,188 127 103
37,925 46,C5 124 114


a 767 878 753 908 121 118
: 2,610 3,210 3,077 3,741 122 143
: 4,985 5,939 5,692 7,775 137 156
S 1,825 2,153 1,998 2,5C7 129 142
: 1 a187 12,23 I',520 16,011 0--T i .
: 51,383 49,"67 49,455 01,976 125 1 1


Record Larco 1942 Fall Pig Crop Also Expected

On the basis of breeding intentions reported in the June pig survey,
the number of sows to farrow in the 1942 fell season is 6,892,000 huad. If .
the number of pigs saved per litter is about equal to recent averages, this-.
year's fall pig crop would total about 43.5 million head 22 percent more



.. ..i


,
,
;~





.1









than last year's fall crop, and over 60 percent more than the pre-drought
1924-35 average. As shown in tables 2 and 3, the percentage increases in
the fall crop are much greater relative to the pre-drought period than the
increase in the spring crop.

Table 3.- Sows farrowed during the fall season by regions,
1924-33 average, 1940-42

1924-33 1942 :1942 s percentage of
Region : 1940 : 1941 a :1924-33
average : % a 1941 :ae
______ : : ________________ :average
: Thou- Thou- Thou- Thou- Thou- Thou-
ands sands ssan ds s hands sands sands an
North Central States
East : 1,238 1,575 1,721 2,065 120 167
West : 1,829 1,490 1,912 2,453 128 134
Total 3,067 3,065 3,633 4,518 124 147
Other regions
N. A. 117 119 120 156 130 133
S. A. 390 483 501 604 121 155
S. C. : 727 845 995 1,272 128 175
West 216 248 282 3-,2 121 158
Total : 1,450 1,695 1,898 2,374 125 164
United States 4,517 4,760 5,531 6,892 125 153

1/ Indicated by breeding intention reports in the June Pig Survey.

Record Large Slaughter in 1942-43 Assured

With these large increases in the 1942 pig crops, slaughter supplies
of hogs in the 1942-43 marketing year (Oct.-Sept.) are certain to set an
all-time record for marketings and slaughter. Total hog slaughter in the
12 months October 1942-September 1943, after allowing for some increase in
death losses, may be 93 or 94 million head and the number of hogs slaughtered
under Federal inspection may reach 65 million head. The largest number of
.hogs previously slaughtered in federally inspected plants was 53.7 million
in 1923-24.

With the 1942 spring pig cror up 25 percent over that of last year,
the number of hogs marketed during the coming fall and winter season (Oct.-
Apr.) may exceed last year by 9 or 10 million head. If marketing follow
about the average seasonal pattern, the number of hogs marketed for slaughter
at fader,.lly inspected plants may be more than 8 million head in both
December and January. The largest number of hogs so far slaughtered in any
one month of record was 6.6 million head in December 1924. Exact estimates
of the peak monthly capacity of marketing and processing facilities are not
available, but marketing may exceed capacity both of packing plants and
transportation facilities unless distributed more evenly than usual over the
entire marketing period. For this reason, farmers are being urged to fatten
out their early spring pigs as rapidly as possible and to market them as
early as they can. Carrying late pigs beyond the December-January peak also
is advised. The need for pork and lard is great, however, and no reduction
in average weights and finish of hogs marketed for slaughter is desired.
j"


- 9 -


LWS -3








JULY 1942


Summer Decrease in Hog Supplies Now Under Way

The weekly rate of hog marketing decreased sharply in early July,
and it appears that the summer peak in slaughter supplies of hogs has been
passed. Estimates of the number of hogs over 6 months of age (chiefly fall
pigs from the preceding year's crop and sows that farrowed in the current
year) on farms June 1, together with breeding intentions for the fall crop,
indicate about 3 million head more hogs to be marketed from June through
September this year than last. However, a large part of this increased
number was marketed during June. Although slaughter supplies of hogs will
probably continue somewhat greater than a year earlier during the 3 months
July-September, .,':al hog slaughter in this quarter will be substantially
smaller than in t:.e preceding 3 months (Apr.-June).

OUTLOOK CATTLE

BACKGROUDI'.- Cattle numbers tend to fluctuate in cycles of
around 15 year. .n lenrTh. A low point in the r--cle iwas
reached in 193.. but 1.:ds have beer. built up f'a tly since
then. The total number of cattle and calves on farms and
ranch..s? on ni.- ry: 1, 1942 was slightly larger than the
preTIicus pr--' nu-ce r at the beginning of 1934, In 1942
goals for agriculture, farmers were asked to increase
marketing of cattle this year rather than to increase pro-
duction by continuing to hold back breeding stock. Strong
consumer demand conditions have more than offset the effect
of increased marketing of cattle during the past 12 months,
and the general level of cattle prices is now the highest in
over 20 years.

Ceiling Prices by Grades Effective
aJul7 13 for Beef

Maximum wholesale and retail prices for beef and veal were established
by the Office of Price Administration in its General IFa:imum Price Regulation
of April 28. This order, establishing highest I'.-rch prices as the ceilings,
became effective in early 'lay. Since then seven -..i new orders affecting
wholesale beef prices have been announced. Price Regulation No. 156 es-
tablished a schedule of specified prices for boneless beef, corned beef and
several other meat items containing beef purchased by the Federal Surplus
Commodity Corporation and by the Army. The purpose of this order and its
amendments v'as to adjust Government contract prices for such beef products
in line wit), ceiling prices for beef sold in the domestic trade. Trade re-
ports indi ate that the ceiling prices fixed for boneless beef under this
order may 'e. a little lower than the effective domestic ceilings for carcass
beef of co..iparable quality.

Price Regulation Io. 169, effective July 13.for slaughterers, contains
several rr- visions among which are (1) the elimination of a few relatively
high '-r. r:. from the I"iarch base period, and (2) the establishment of ceiling
priu "' beef by grades. The first of these provisions is designed to
elin. .Lit,: inequalities in the wholesale ceilings of individual sellers by
ruling out the upper 30 percent of the volume of sales from their price lists


- 10 -





A'.:" LWS-3

for pui
S order,
S way in











if.,




I
i-


poses C
the Off
which w

"Assume
beof di
as fell


- 11 -


,f determining ceiling prices. In its announcement of this
tice of Price Administration gave the following example of the
wholesalers could calculate their revised ceiling prices.

That the seller's sales of choice carcasses of
ring the base period March 16 to March 28 were
Lows:


STeight volume Percentage of
Price per pound 3 in pounds total weight
I I volume
CenZs Percent
E4- 1,000 'A
23-1/2 2,000 8
23 4,000 16
22-3/4 5,000 20
22-1/2 8,000 32
22 4,000 16
22-1/2 1,000 4
25,000 total weight volume

"The seller's maximum price for choice carcass of beef
is 22-3/4 cents per pound, for that is the highest
price actually charged by him at or above which he made
at least 30 percent of the total weight volume of his
sales of such carcasses during the base period. 23 cents
cannot be his maximum price, because only 28 percent of
the total weight volume of sales was made at or above
that price. 22-7/8 cents cannot be his maximum price,
for he made no sales during the base period at that price."


Unless offset by other factors difficult to determine, this provision should
have the effect of lowering slightly the general level of wholesale beef
prices*

With respect to the establishment of wholesale price ceilings by
grades the order states:

"Beef carcasses and wholesale cuts derived from steers
and heifers shall be graded into the following uniform
grades choice, good, commercial, utility, and cutter
and canner. Beef carcasses and wholesale cuts derived
from cows shall be graded in the same manner except that
no such carcass or cut shall be graded choice. ,,.Veal
and calf carcasses and cuts shall be graded ... choice,
good, commercial, utility and culls."

The determination of each seller's ceiling prices for these specified
grades is accomplished in the manner described above.

Favorable Outlook for Rage Cattle Prices

The outlook for prices of range battle, to be marketed this fall is
good. Prices may decline moderately during the next several months, but no


ffI .4:








JULY 1942 12 -

real break in the market appears likely. The general level of prices for
feeder and grass-fat cattle is exnectd to continue substantially higher thatiil
in the lart half of 1941, when prices for such cattle were the highest in ovei.
10 years. An important factor supporting prices of grass-fat cattle will be
the large militEry requirement for beef. The country demand fcr feeder :-
cattle my be curtailed, however, Eince prices fo- well-finished grain-fed. .
cattle are controlled indirectly by the ceilings on beef prices.

The sharp advance in fat cattle prices which began last fall was halted
in late April by the establishment of ceiling prices for beef at the highest..
prices provr.iling in I.-arch (General Maximum Price Regulation issued April 28).-
Prices of woll-finished sla wihter cattle have. declined sharply daring the past
2 nonthn, 1 flectir.g increased supplies of such title e as vell as the appli-..
cation of po.ice ceilings. But prices of lower graLss of slaughter cattle andi:
of feede:' sLttle hav7 continued somewhat higher than the March lev-l 1

The revision in price ceilings effective July 13 is intended to result
in a widrning of the spread between retail ard wholesale meat prices and be-
t&. pn the ciffetr-.:t grades of beef. With prices cf choice steers now a little
beolvo highest harch prices, current prices for the upper grades of slaughter *"
cattle nC-r arnear to be fairly well in line with the highest prices permittedC
by t:;c bc.if price ceiling., But prices of lower grades, st.ll abu-e t;ie I'froh.:
lcvel, may be adjusted downward. In addition, sour sacEonl-l vriden'ig of the
spreRd between prices of the upper and lo,'er grades probably wll. take place
rw.cn the rtrket movemer t of grass-fat cattle gets under wry in volu.me. Be-
cause of t'-. large military requirements for beef, however, only a moderate
seasonal dicliie in prices of range cattle suitable for slaughter is expected:
Large slaughter of range cattle will limit the supply available to feeders,
and will be an important factor supporting prices of cattle that are in only
feeder flesh,

Another factor preventing much decline in prices for feeder classes of.'
range cattle is the outlook for relatively stable prices for fat ciattlt. in
1943. Strong consumer demand for mcats is expected to hold prices for beef a
or near ceiling levels. This may remove some of the uncertainty in cattle
feeding so +hat farmers can calculate with more than usual accura,?- t.he maxie
mum prices -"hich they ca.r afford to pay for feelers. Hence, altl.cur,h the
spres bebceen feeder ar.d fat cattle prices is quite narrow, a decline of on
$1 or so ir. feeder prices might uncover a broad country demand for sFch catt
which would -Iend to prsvent any substantial decline in feeder values, should"
supplies of such cattle be greater tnan now appears probable. Although prior
of all wvirhts and grades of feeder cattle are now relatively higl., the
strongest r.mand will probably prevail l for those which can make the cheapest".
gains, which are calves or older cattle wiTh some finish.

OUTLOOK SHEEP AJ!D LAMBS

BAC]'3ROU0UD.- Sheep production increased moderately during the
past several years. The number of ti-ck sheep on farms and
ranches at the beginning of 1942 totaled 49.2 million head,
Weather and feed conditions were very favorable in the uVestorn
Sheap States last spring, and the 1941 lamb crop was the
largest in the 18 years of record. Lamb prices have advanced
during the past 4 years and are now the highest since 1929. .


J* ..-i.






LWS-3


- 13 -


There has been little chanre in the r)utIcok for sheen and .lam'bs during
the pnst mr.nth. Im-.ortarit f4E-'.'.rCL rf the- c'etLi-s disc'..rCT-d ". e.rri- r issues
cf this rercrt are st ..:nri zed :,.ii br'rugh tc ds t in t.:,- following etstements:

1. Alth'ouh wr-at ?r and feed condltinns in the Rsnpe States are
above averio-e this .'ear, scatt.,rld r-ror.. r*,nti'n, .e to indicate- that the
1942 lamb crop may bo s lghtl, smnall'-r tV- n the. rL'co)rd crop of last year.
Becoure of r~'verse wcath:r can.1d'ti ij"'.v-inr- c-h- r.nr a.n, ln-.mbinr, tlhe
number of larmbs sE':d r,.r 1I". :'.res 'r t'. st t rn SKi',,- t.A- T nro.rt:-t..'" w'as
smaller thn the r'cor.I Iarr t.rc. .ta e E--- d -,-t --: *. th s rn ,'- off. -t
the smr ll increase in t -i,- nnt:..-r o" s.t.l.- '.-;en -. fr :.. n > rL nchcs at the
beainnIne of the y'e-r. The offici -~ cqt ..: 1: L. 1, :ib. cr.:n 'ill be
released on Auigut 5.

2. Slauzhtcr psupli cs of lar.- .-' .:r th., lF- .lf cf the '.:. .r may
differ little from those of the Jr l: -D'ec,: b-- ri. ,-t :--r.

5. Contracting nf ,r:s.terrrL l;m-is for late sim-nmr:-' .r:nd fC.ll d.:-ivcr'
has been ratn,-r limited at nrDcee ev--rin r-.rou.:l 3; to 1 il r,. :r 1'', rounds
for lambE in feeder conditic..- This is :-bout c l.,0 .-'i, :r t'nn cc,ntrs-ct
prices nrevailinL- l st sumrnr,.-, but i.-.:c -. rice f-.r i-u.e'- -r rr n:--' about
$3.00 hi-hc'r. The current. r:. stionc- 0 'iet'*'e:n f n r-n. r1-'. t % r Irr.b
prices is thus more favorable for 1 -'. f, rr, -,i ; tL.-n l't.

4. Lpmb and mutton prices w:re not i-cliI 2 t .- Cn-"~l1 I-:'imun
Price Re ulatirn of April 2'5. .t thEt t ...... l -'. r .- e:r.:; b: '. the
July 1919-June 1'92 av,:ra~e -nd .stecn nri.-:s we.rb. b .l:' 110 n-rc. nt of -rrity,
2 )f the- 4 level-. belo--' *ich nii imum prices fror -gric?'ltmrl comricdities may
not tb. established under the tirms of the Emerceinc:' .rl:e Ccntrol Act. L nb
prices advanced s ~,r l-' in JunL. raM-- o re so.: --.'-:,,ve t .-- '..-' 1 -.t .'hi :'. a ceiling
price mn:,- "c trnrli'd-, but s.heUn nr'ices ar- -till nu l L.-: -'. 110 .rei- -nt of the
narit:z" -rice.

TH E ''OL SITUATIOu

BACKGROUTID.- Mill conriuartion of \ool was .t record lev--l in
1l41 a-a rei.ult of lar-a nrcduction of wvccl fr-brizs f:r Arimy,
use, and strong civilian- demarnd. Prices r cci'd-d b:. f-ric;:'s
for wool shorn in 19 41 wer-e high-'r th-n ot -iv. 'li:- -inc? lq2".
Becrra.e of the Irrge lrrosrj ct ive rec', irer nI:- f- r ll12ta,'ry use
urTd-r wpar condi i' ns -nrd bec"'-e of h: .'-, l t.- t .:wool
imrarts chieffl. from S1.uth.rn- H r. .ere co''i I :uli ie
sbah rrly r stricterei, action %-v te'- -n ':- t.: ;'.' r-. ion orrd
in J:; nuar- 19l 42 to curt'il the u e ., byc.! l :.. s ,.:.i-
mu-a nric:- '.'-,re estpbliihed for ''.ol ;! ': 0:: of Price
A ninistra tion. The i.rort siturtic-. in ith, :-:-'" rn;nthsi of
1l42 was not as critical as wis fered., -ini .ni. Ct'tc-s
dealers and m"nufctur:-rs were nbl,? to FCcm:il. lrrge stocks
of fo-'eign wool.

Wool Mprket Dull in June
Pnd Earl; July

Sales of domestic wool at Boston were small during June. Quoted prices
for fine a-des of territory wool declined two to three cents a pound (scoured
basis) in he latter part of the month, but quotations on iost wools were









JULY 1q42


unchanged during June iand the early part of July. Quoted prices of fine
stenle coming territory wool av-ro-ed 31.10 a oound (scoured basis) in the
first week of July, comnpred with the hich of $1.215 in May and 31.07 a pound
in July o101. Aversce -rices for three-eichths blood crb.nine bright fleece
wrools remained unchPnrted .-t 49 cents pno-ind (erease br-.is) conronred with the
hizh of 5,2., cents e.rly in MN-y and 46.h cents in July lh.41. The nverfge price
received by farmers for wool wa-s 39.7 cents a nound ?n June 15 comrnred with
40.2 c=nts nooun-1. nn I1;, 15 I when prices were at the "neak" for recent years.
There Par indications, however, thpt buyers were off-rin.n considerably lower
in June than in other recent rmonrth.s.

Several f7-'aorE contributed to the dull market for doii,-stic wools in
June. Mill stock' of fctreiten .,wools were relatively lar: .ani domestic wools
contr-cted e-rl,' in the s~ Ason were arriving Ept in 1-rze a'i-tntities. Stocks
ori h~'-ird -rp-ror lr-e eniih to meet mlnufacturinF requirements for Fome time,
and ''ith civilian consu. .ntion limited b-' wool conserve-tion m:apsures, mills
were inclin:-d to n.r-it Fome. inriic-tion of Army r-oulirennrits for the l143 fiscal
v-er before rn.as!in- f'u thl r rjurch'ses of do,-i tic wools

Unc.:- 'inty' ri- .'.linc rice qnd consumption re -.rlct one ha-s been
l rf el;- di--,l 1.le 1::- r.' -at order of the Office of P'-ce ..-innistrntion and
th- '.r Pr .tion Eocrd Frlce ceilln.-: have been c-. -b.lished froii the wool
fiber un i. :ocEh the f-bric -rnd ciothin7 stp ms for both -ilitar- orders Fnd
sal s to civili-nr. Consumption quotas for wool to be used in civilian
frnbrics th-cugh J-rnu,-r:, 14) hv.'e been established by the 'Wr Production Board.

Adjustment ,f i'.-:imui Pri' C'rder
For Civilian Fabrics rnd Clothin

Srncial pro-rision hps bcen rimde 1by the Office: of Price Administration
for c'-lc"ll'-tin uXinuL oL prices of wool febri es pnd clothin.r for civ:li.on use.
JUnrd r th 'L. 1erl li9.:riiuj-. Price ke.rl'.tl n the c-ilin-g for oll comr oditi-s
were estrbl ish..d nt the highest -rice at which del i-eries were .arde during
ilirch 1-42. In the c-se of wool frbricc, how rrr,ill les ordinarily
preceie d. :liveries b"' several monthshs so thrt the ordr ,ad the effect of
esct- 1.ishinn- c-ilin- -nrices for "-o- mill A 'issed ,n ~ --5 :-iad as E' rly as
Jul;- L[41. i-ill nrices for ',oolo :-r. rnd ,rorrt.d ':.rics for ci.vilior wear Pre
nrowi- dct.erl.-ed by ;.-viimzr. Price 2 -.l tion 7'o. i1 which wes issued June 17.
This re-:ul-tion allows Finecific n).re-rnto-re r%-rk-ur., based unon prices nrevpil-
inc in the ~-inufecturin2 r frio. for the 1iq4l fal! -nd the 1Q42 snring anparel
seasons. These mT-rk-urT crre intendc-d to offset d-d.rnccs in basic costs be-
twven the l1st selling ?.eaon a.nl Ialrch 192?.

On fhbriL cold only for the fall e-ason lq41 (mill selling season
chi-fl; f.r--._ De,. .'er 1, 19Q4 through February 25, q14l) the formula allows
'r.rk-ur ,- rf fror' i' to j0 Dircent from the prc-vious season's onening prices.
On fabrics cold for the rDrin- seinson 1942 (mill selling econ chiefly June
through Au-rist 1041) the m-nrk-urp is 10 to 12-1/2 percent.

Siil-r tr,-pt.-ent is accorded wool clothing under Maspxir.umn Price Reg.la
ticn l;o. 177 which was issued on Jul:. 5. Tl-Is re .ilation cies nTrcentaie
nmrk-uvi over silline nrirces of the previous reson. The n. rcentrges range
chiefly front 7-1/2 to 14 percent. The base e? riods to be us-ed for most
cl.thinr prices fall within the last half of q141.


- JlL -






LWS-3 15 -

Special provisions for calculating maximum prices of wool textiles
and textile products destined for War Procurement Agencies are covered by
Regulation No. 157 reported in The Livestock and Wool Situation for June.

Exoort Prices for Australian Wools
Will BE Higher in New Season

Issue prices for Australian wools of th( 1042-43 clin show ,n incr-.se
of 12 percent over the q194l-2 prices according to rLnorts from S;.IdrL y'. An-
urnisements of the new cli- will begin on July. 27 this year. The incre.pF in
export prices is in line with the advance of 15 n-:rcent to be naid to -.ustrn-
lihn growers in the new season. As maximum selling pric's for Auiit lia i
wools in the United States are determined by th.:- xoorl isrue nrric ol.-
actual costs of importation and a limited profit, the ircreer: in .-"1. I rices
will be reflected in dealers' selling prices for new cl.in Au-trnli -- '..jls in
the United States market. This increase togethe-r with recent incr -~?:- in
war risk insurance will raise Boston market prices for Australian fine i--rls
to a level about in line with ceiling prices for domestic wools of rimil-r
aunl i ty.

Mill Consumption for Military Use
Continues at Record Level

Mill consumption of apnprel wool in May averaPed 11.1 million pounds
a week (scoured basis) only slightly below, the record r.te of April -and Q
percent higher than in May 1941. Consumption on p Prrnsy shorn Pna pulled
basis totaled 423 million pounds in the first 5 months of lL?2 cor.r-red ''ith
about 367 million pounds in the corresoonding period 1.rt .en.r. Th, consum.r-
tion of ap-prel wool thus far in 19q2 has been at a rate of -bout a billion
pounds a year, as a result of the l1rge use of wool for military fabrics.
Because of lVrge orders for Army use and for delivery before the end of 1942
consumTtion of Dnnarel wool probably will continue close to record levels.

Consumption of carpet wools (duty free wools used chiefly in floor
covering and Tress cloths) which pre not extensive ly used for military pur-
noses declined sharply in the first 5 months of 10Q2 Pa a result of limi-
tations on use in civilian fabrics.

Consumption Quotas for Civilian Fabrics
Encourage Blending of Wool and Other Fibers

Wool consumption quotas for civilian fabrics for the 6 month p-riod
August 1942 through January 19)4 were announced by the War Production Board
on July 1, in Conservation Order M-7). Most important change over ouotos
now in effect is that decreasing the amount of wool which may, be used to mpke
all-wool fabrics, but increasing the wool allotment if fabrics are made of
blends of wool with reworked or reused wool, or cotton or rp."on. As in
earlier periods, the auotas are expressed as nDrcentnges of the basic quarter-
ly poundage (half the quantity used by each mill during th, first hnlf of 190'11

In the 6 months August 1942 through Janupry 1943, a worsted menu-
facturer may use from 20 to 45 nerc.nt of his basic auprtrly poundage in the
manufacture of fabrics for civilian use, and a m.nufcturrer operating on the






JULY 1942


- 16 -


woolen, cotton or felt systems may uss 5 to 30 nerr-nt of hi~ b-?src ounrterly
uooundeae. ..- u e of the jrtnirtn o i:tity 1- :i"--'' i-ti -e:cet that,
generally '--i:.. -, a fabric containi-.-- any n : wvi-_l .nt cc.-Jt-t n .t least
20 -": '- nt wool. To oial :^--" fo the ^ax:-ur n fo --' !.- -n if "ctlirir ,must
us'e the adrltio al ... percent in the product :-.: :- .-r ... d t tri:s c Intalning
not more thin 65 percent wool

Thus, a worsted. -n-r i'acturer wh( will. .,-; rcnl.: ] 00 -- recent new r-oll
fabrics :.ay uia only 2 0 7er-ent of the ouani'it;- of n~- 1.onl d1irln- the b-se
per cr e-. nt thP e -anufactirer who -Tr. ':.-'. i .A -d. f''ri.-'i mr--.; us un to 45
percentt cf bh" oa"c uartT !.y :-lndage., Pr.:-'i i. n "- :'clu-id feP r.ills to
increase ir .'; allotment of wool for cii-.-i. .n '.. -In roc:,ortion to the
amount of c 'mrse *Ol01 seOd.

MP 'ufctxrel 3 whose basic quarterly n ni .--'-e i7s Tlc"..lted frrom wool
ou4 into -orocesS for floor cov -r''..-C can us, rrl' "o':-sl of drr.,es h4s or
co. r;r-, pnd nohair nd ser'isl fri'..'s to m 'jT.ct'rc.v' 'c'ol .ro.'luCts oth-r
t'rr '.or" cor'-,rs C-.'i coarse ctarret wor-t' ,-n tI, us. -d in the i.nr-.ufPcture
o0 "Lu-r ~' rirr?, Osotas for 1'1'-. under Cor.-rrva-tion -'rder :.1-73 ere Phown
in the fo "' -,irT :;'able.

Tt1l1 4,- ;:ll co"'-lmrotln of new wool n.r- ttcd f-r cl-1li-n use,
e: .r=ss .A Pc a o .:rcent'cae of basic aov-r rl,,' pcunridan I/

12 : 1 9 6sq2-43
System of manufac-ture -; ,. Ar.-u..n-. J-.u" : Aug.-Jan.
_:_ 2 21 3/
: Pe cent Percert F.:-rrent FPrc.nt

Worsted ...............: 50 20 6 20-45
Woolen ...............: 40 10 3 5- 0
Flcor ccverings .....: 50 25 7 50
Other ................. 40 10 5- 0

- s'i qucaurterly poundafge eoualsf one half three qu-.ntit:.- used for -l11
purposes diring- the first 6 months of 194i~
2/ '..:tias may be increased for all systems excer-t flcor covering by., the
use of wools not finer than 4': mohair end' oth:r p-ol'-l fibers.
3/ 'he hi :U h nercentape represents maximums un.ier ,rov.ision- of bonus
for blending of wools and other fibers. The modification not d in 21 is
in addition to these maximums.

The rate of consurmntion of avparel wools finer than 44s for civilian
fabrics in the 6 months k.:.,.-trt-January will be l"-itc-i under Consera-.tion
Order M-73 to rl:.ur:1r one third of the rate mf con-'ur-ntion in the 5 :.',ers
195 -39. -.- grades are required in large -rintirt; fc.r *he- production cf
military fabrics. Total consumption of wool f'r civ'.li-n use r.;.' be raised
considt-ra.bT 9.bo-e this rat', however, by more c::t;ns~"*v u'-e of 44s and
coarser r:'-ies, :ncl. '.! fine carnce class ,'o..lr. Fin. carpet clsis wools
were form..-l y used only in floor covering b~ -r- now bcin- held for the
imanufncturc of anr prel fabrics. Consumption r. crvrts isFruid b' th, Bureau of
the C2nsus will include all such wools with cn-r:rl ''ols. Only, foreign woole
entered free of d.ii for the -r.u.'acture of ficor co-'c.rin-s, .nrrss cloths .nd
knit and felt boots will be classed as carpet wnnls.





LWS-3 -17 -

Wool Stocks' Large at Op'ening of
1942 Domestic Wool Season

Stocks of wool held by United States dealers and manufacturers on
April 4, 1942 totaled about '415 millioi pounds (greasy shorn and pulled basis).
This total included ap-arel and carpet class wools. About 141 million pounds
were domestic wools and 274 million pounds were foreign wools. On March 29,
1941 dealers and manufacturers reported 251 million pounds of -aparel and
carpet wool on hand, The totals for the two years are not strictly comparable
because of the larger number of firms reporting in 1942.

S A breakdown of the Aprl 4 figures shows that.about.301 million pounds
were wools .radin,-n finer than 44s, the grades required in the manufacture of
Army fabrics.- About 114 million pounds were 44s and.coarser, including carpet
wools. Most of the coarse wools, as well as stocks of mohair, al-oca. nnd
llama will be available for civilian use as these fibers are not being used
to any great extent in military fabrics. Stocks of,wool ad similar fibers
reported on April 4 are shown in the following table.. The figures do not
include the 1942 domestic clin.

Table 5.- Stocks of wool and similar fibers reported by
dealers and manufacturers in the United States,
grease basis, shorn and pulled,
April 4, 1942 I/

: Finer than : 44s and :
Item .144s: coarser : Total
2/ 3/ ,
: 1,000 Ib. 1,000. lb. 1,000 lb.
Sheeps wool
Domestic
Held by manufacturers: 87,436 1,276 88,712
Held by Tnstern
dealers ...........: 36,956 .643 37,599
Held by Western
dealers /........... 1k/ 14,640 1.4,64
Foreign
Held by manufacturers: 117,795 92,115 209,910
Held by dealers .....: 44,42 20,100 64,529
Total wool ,......: 301,256 '114,134 415,390

Mohair
Grown ...................: ./ 10,906
Kid ......... ......:. 3, 32
Alpaca .................. 1,957
Llama ...................: 404
Camel hair ............ / 217

Compiled from reports of the Bureau of. the Census.
I/ These statistics do not include wool afloat to United States dealers and
manufacturers, and wools held by the Defense Suonlies Corooration as a
strategic reserve.
SGrades needed for military fabrics. j/ Includes carpet wools.
Includes negligible quantity of 44s and coarser not separately classified.
Actual wih-ht greasy and scoured. Not converted to grease basis.






JULY 1942


Livestock:


Marketing and slaughter -statistics, by species,
June 1942 with comparisons


SJan.-May : 1941 1P42


Item : : Unit 1941 142
1940 1941 1942


June Yay June
June I~'h


battle and calves :
Number slaughtered under'"
Federal: inspection: Thou-
Steers, ........... ...... ,: sand :
Cows and heifers ..........:
All cattle *...............:
Percent cows and heifers,
are of total cattle *.....: Pct.
'Clves *................... Thou-
Average live weight: : sand :
Cattle ...................: Lb.
Cc lv" s *.......... ....*... "
Total dressed weight:
Cattle ......... .........il. lb.
Calves .....................:
Shipments of feeder cattle and:
calves to seven Corn Belt : Thou-
States 4 ................. sand
logs -
IWumber slcaughtored under
Federal inspection .........: :
Average live weight ..........: Lb.
Percent packing sows are of all
purchases at seven markets : Pet.
Total production under
Federal inspection:
Pork .....................Mil. lb.
Lard 2/....... ............ : "
Average yield per hog:
,Pork ......................: Lb.
Lard 2/ .............*.*....: "
Storage stocks end of month::
Pork .................... :il. lb.
..Lard .....................:
Sheep and lambs -
I-urmbrcr -,2ci.htored under : Thou-
Federal inspection .......... sand
Average live weight **........: Lb.
Total dressed weight .........:Mil. lb.
Shipments of feeder lambs to : Thou-
seven.Corn Belt States 1/ ...: sand
Total dressed weight of live- :
stock s1rurhtered under :
Fe.doral inspection ............ 1il. lb.


2,087
1,602
3,833

41.8
2,215.

955
.-175


2,077
1,835
4,075,


2,555
1,988
4,719


45.0 42.1.
2,247 2,295


960
: 181


2,013 2,139
218 229


475 520
347 326
867 885


40.1
440


36.8
471


1,039


475


974 -962 971
183 188. 183


2,524
236"


378 414 452


21,114
252

:6


2,732
685

1Z9.7
32.5





-6951
89
* 291

S446


19,977 22,373
237 237


466
46


481
49


70 91


3,336
248


4,320
240


4,554


5 6 13 6 13


2,671 3,005
"652-1 726

1'34'.' 134 .7
32.7 32.5


465 597
116 135


139.7
34.8


138.5
31.3


S 704 560 3/524
S 375 110 3/94
a1


7412
92
320

'08


6192 6252


.7731
.,94
57-.733

577


1378'
- 82
54


1475
89
61


1481


104 163


7093 1190


1374


1/. Total shipments direct Fnd from public stockyards to Ohio, Indiana, richig.n,
Wisconsin, Minnesota, Iowa, and Febraska.
2 Including rendered pork fat.
/ Preliminary.


- 18 -.





- 19 -


Livestock prices per 100 pounds (except where noted) by species,
June 1942, with comparisons

: 1941 3 June : 1942
Item : annual: 1924.: 1940 1941 Apr. May: June
:average:29 av.: : :
3 Dol Dolo. D ol. ol. Dol. Dol. DDol.


Cattle and calves ,
Beef steers sold out of first 3
hands at Chicago:
Choice and Prime ...........
Good ........................
Medium ..e..g................
Common *. ........ .......,
All grades .*...,.......I....
Good grade cows at Chicago ....t
Toalers, Good and Choice at V
Chicago *....................t.
Stocker and feeder steers at 3
Kansas City ..........,.....,
Average price paid by packers :
All cattle ................
Steers .*...e...........e... e
Calves ... e...... ...

Average market price at
Chicago:
Barrows and gilts ..........:
Sows ... ........:
All purchases ....,.....
Average price paid by-packers a
Average price No. 3 Yellow -
corn at Chicago / *...........
Hog-corn price ratio at :
Chicago f ..................
Shep and lambs '
Slaughter lambs, Shorn, Good *:
and Choice grade at Chicago ..d
Spring lambs, Good and Choice I
grade at Kansas City ........I.
Ewes, Good and Choice grade -
at Chicago .....,.....,.,,...s
Average price paid by packers
for sheep and lambs ....,.....:
Index retail meat prices V/ ...
Index income of industrial :
workers / .................


12.23
11.36
10,02
8.64
11.33
8.43


12.28
11.58
10.64
9.13
11.7
8.g


12.17 11.42

9.93 1/8.91

9.14 a9.21
10.67 f/
10.12 10.24



9.47 2
9.34-g/
9.45 10.50
9.42o 10.42

70.4 93.0

13.4 11.7


10.31
9.57
8.84
7.69
9.69
7.5.5

9.51


11.32 15.63 15.07 14.09
10.74 13.83 13.65 13.12
10.03 12.02 12.33 12.07
s.76 10.35 11.02 10.S9
10.62 13.26 13.22 13.11
8.64 10.47 10.76 10.70

11.11 14.08 14.92 14.45


8.05 9.90 11.93


8.12
N9.
80



5.17
,4.38
*4.98
-4.93


9.23
10.16
10.02



9.88
9.29
9.79
9.69


11.15-
12.43
12.53


14.20
13.964
14.18
13.84


12.00 11.83


11.37
12.48
12.95


14.09
13.79
13.95
13.95


65.8 73.7 82.3 85.3


14.26
13.82
14.19


84.6


7.6 13.3 17.2 16.5 16.8


11.32 15.30 9.01 9.53
--- 10.21 11;46


5.43 5.79 3.75


9.17
82.5


10o.16
92.4

127


13.48 13.52

13o06 14;55 14.61


4.18 7.64


10.20
91.8


8.19 6.11


11.78 12.57
104.5 106.9


99 88 130 158 163 V/


1 1925-29 average; not -available prior to 1925.
Not available.
SCents per bushel.
J Number of bushels of corn equivalent in value to 100 pounds of live hogs.
Bureau of Labor Statistics, 1924-29 l 100.
Bureau of Agricultural Economics, 1924-29 100.


LWS-3


---- ------ --







JULY 1942


Wool: Mill consumption and machine activity, United States,
selected periods i940-42


: Item -


Mill consumption
S(Revised basis) b /
Grease bhsis 5'"
'Apparel wool-'
Domestic ......,
Foreign ......
(duty paid')
Carpet wool
Foreign
(duty free)
Scoured basis
Apparel wool .....
-Carpet' wool .'....
'' ''


Machine activity
Hours per available
machine
orsted combs ...:
Bradford ......: '
'' French ,,.'.... :
SWorsted spirndles
Woolen
SWorsted and
woolen looms
Broad ....... '
Narrow ........
Carpet and rug
looms :'
Broad .........:
Narrow ..*.....


t .... .. : ...;- AggreZgate : Weekly average
: 1 Jan.-M 2/ y Apr. May
.o 942 1 :l94l J/ 1942 3/. 1942 3/
1,000 1,000 1,000 1,000 1,000. 1,000 1,000
pounds pounds pounds pounds mounds pounds pounds


: 639,618'
: 486,756'
: 152,862
: 152,862


967,6'95 383,093 423,26'4
493,934 187, 368 191,441

473.751 195'.725 '231.;823


'-, 535- --o0,072
' 7,52?7 -8,402
I *05 11., 670
11,058 11,670


20,254
8,210

12,044


SI A.. ;. .. < .... .
:138,746 199 453 82,658 30,227 3,949 869 130
I .' V ...
: 309,163 509,014 202,792 228,424 10,179 11,185 11,08O
"98.70g 136,917 57,341 21,-g099' **2726 636 97
' Wedkly gverkti'n' itdcrs *''*
* ~ r^ *; 'A .


55. 1'
43.*
79.-4
37.7'
3.2
4,

39.0
13.6


86.7.
74.9-
110.6.
61'.0
63.8


61.4


g84.0: '"92.3 *
'70.8:"" 79.9'5
111. 4 1-6,,I 8 ',-
'57.3 :57.2
59.0' 73.8
; ".0!-


87.3
-77.3'3" -
'107.8
60.7
63.7


93.4
80.0
119.2
59.3
77.3


*'58.2 2 71.; -.. 69. 9-- .71.7
26.6- 36.2 298. .. 36.1


4 *
37.9 50.8 49.4' 45.1
21.9 30.8 30.7' .26:1'


51.3
31.8


37.6
20.8


92.7
80.2
116.6
60.5
76.1


72.9
33.7


40.7
25.2


Compiled from feports'of the'Bureau'of the'Census.- .........
IJ Machinery activity figures for 1941 have been revised. 2/ The January-May periods.
cover 22 weeks'in 1941 and 21 weeks'in 1942, hence the totals are not comparable.
J/ 4-wedk period. 4/ 'ew badis adopted by'the Bureau of the Census in January 1942,
Apparel wool includes all domestic wools and all duty paid foreign wools. Carpet
wool includes only foreign wools entered free of-duty'for the-manufacture of floor
covering,-.press cloth, knit or felt boots .or lumbermens socks. In this table data
for 1940 and 1941 have been adjusted to the new basis. V/ Total of shorn and pulled "
wool. Pulled wool, grease basis, is in condition received from pulleries and is
mostly washed.


" 20 -







Prices per pound of wool and other textile raw materials in
the United States, selected periods, 1939,42

Item Average :- 1942
tem : 1939 : 1940 1941 : June : Apr, : May : June
SGents Gents Cents Gents -ents Gents Uents


Boston market-
Territory, scoured basis-
64s, 70s, SOs (fine) staple :
combing ............. .. ..... ..... :
56s (3/8 blood) combing ......:
46s (low 1/4 blood) ............
Bright fleece, greasy-
64s, 70s, 80s (fine) delaine ,.:
56s (3/8 blood) combing .......
46s (lcw 1/4 blood) ..........:
Foreign wool in bond
at Boston i/
Sydney scoured basis
64s, 70s, combing ............
Cape scoured basis
12 months, combing .......... :
Montevideo grease basis -
Merinos (60-64s) ............:
ls (56s) ... .... ... .......:
Prices received by farmers, I
grease basis, 15th of month ..,t

Textile fibers:
Wool, territory fine staple 2/ :
Cotton, 15/16" Middling 3/.....
Rayon yarn, 150 denier T .....:
Rayon staple fiber V/
Viscose 1-1/2 denier .........
Acetate 5 denier ............. :


82.7
69.3
62.6

32.9
36.2
35.5


58,6

53.7
26.1
28.3


96.3
79.7
76,1

38.0
41.2
41.0


108.8
91.2
82.3

43.1
46.8
46.5


107.0
91.5
81.0

43.0
46.8
44.5


121.5
104.3
91.2

47.9
52.5
51.0


121.5
104.5
91.5

47.5
51,4
50.4


120.9
104.5
91.5

47.0
49.0
48.5


67.9 72.7 74.0 79.0 79.0 79.0

62.9 70.9 72.5 76.5 76.5 76.5


31.2
32.4


40,4
38,6


22,3 28.3 35.5


82.7
9.30
51.6


96.3
10.17
53.0


108.8
13.92
53.6


41,0
39.5


43.0 43.0
42,2 42.2


43.0
42.2


36.3 39.2 40.2 39.7


107.0
13.79
53,0


121.5
20.23
55.0


121.5
20.01
55.0


120.9
18.94
55.0


25,0 25.0 25.0 25.0 25.0 25.0 25.0
46.0 43.0 43.0 43.0 43.0 43.0 43.0


Compiled from reports of the Agricultural Marketing Administration except as
otherwise noted.
j/ Before payment of duty. Compiled from the Boston Commercial Bulletin.
i Scoured basis, Boston market.
J/ Average at 10 markets.
/ domestic yarn, first quality, Bureau of Labor Statistics.
F/ .o.b. producing plants, Bureau of Labor Statistics,


LWS-3


- 21 -








After five d'ys return to
UNITED STATES DEPARTIS1T OF. AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
WASHINGTON, D. C.


UNIVERSITY OF FLORIDA
IIIlII11111 IIHM Dlli IlIIIIIIIl1 lIu
3 1262 08861 6650

Penalty for private use to
.avoid pymrnrt of postage $300


OFFICIAL BUSIITESS


UNIVERSIl" OF FLORIDA LIBRARY
EXCHANGE DIVISION
- FNS-X GAtf;svVtiPi FLA



. .


i .