. Illinois farmers' outlook letter [microform]. Agriculture -- Illinois; Agriculture -- Economic aspects Illinois. \>. Cooperative Extension Work in Agriculture «uid Home Economics University of Illinois College of Agriculture, Urbana, Illinois, and U. S. Department of Agriculture cooperating WEEKLY REHIEW AND FARM OUTLOOK LETTER By G. L. Jordem Professor, Agricultural Economics University of Illinois m tiof^^HY of the College of Agriculture ^ ,^. .g/^^ (Prepared March 2, 19kk) ^ vr-^^s'T^' cf 'U'no'.^ The new regulation controlling the price tjf soybeeuis of the 19**^5 crop that are to be
. Illinois farmers' outlook letter [microform]. Agriculture -- Illinois; Agriculture -- Economic aspects Illinois. \>. Cooperative Extension Work in Agriculture «uid Home Economics University of Illinois College of Agriculture, Urbana, Illinois, and U. S. Department of Agriculture cooperating WEEKLY REHIEW AND FARM OUTLOOK LETTER By G. L. Jordem Professor, Agricultural Economics University of Illinois m tiof^^HY of the College of Agriculture ^ ,^. .g/^^ (Prepared March 2, 19kk) ^ vr-^^s'T^' cf 'U'no'.^ The new regulation controlling the price tjf soybeeuis of the 19**^5 crop that are to be processed for oil permits a maximum of 6 cents storage charge over the pre- viously announced support price. The present ceiling for producers of No. 2 yellov and green soybeans with ik percent moisture is $ per bushel. The maximum is $ for the highest grade. The ceiling price on 19i-2 crop soybeans remains at $1,66 j>er bushel. It is not possible to hold beans from one crop year to another and get the higher price allowed on the later crop beans. The President has signed the bill extending the life of the Commodity Credit Corporation until June 50, 19^5, without any restrictions on subsidies. Preliminary statistics indicate that total meat production in February set a new all-time record for that month and was substantially above the same month last year. Cattle receipts at Chicago were Isirgest for any February in 17 years, and hog receipts set a 12-year record for the month. However, sheep and lamb receipts at Chicago were the smallest for any February on record. As a result of these large re- ceipts, the storeige warehouses are almost completely filled, and the government is taking special steps by means of lowering point values of meat to relieve the storage situation. The U. S. Department of Agriculture fears too much liquidation and stresses the fact that hog producers are guaranteed a price equal to 90 percent of parity for a period extending two years from
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