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Show January 1968 UTAH FARM BUREAU Page 3 NEWS High Production Causes Grain Price Decline by Herman C. Aaberg Feed grain production was 12 higher in 1967 than in 1966 and the highest on record. Prices are sharply lower. There is great danger that this will cause a serious overproduction of meats and eggs in 1968. This unfavorable situation is primarily the result of government programs and action. Wheat acreage allotments were increased one -- third in conjunction with pleas from Washington that much more wheat was needed to help feed a hungry world. Feed grain and soybean producers also were encouraged to step up their production. The resulting bumper crops and depressed prices of these crops will encourage increases in the production of livestock and poultry products which are already in oversupply. Producers of hogs and poultry are especially vulnerable in the coming months. Dr. Karl Hobson, of Washington University, makes the following outlook predictions for hogs, cattle and lambs in the year ahead: "Some Improvement in hog prices can be expected this winter and spring as is usual at this time of the year. Prices next fall and early winter, however, are likely to' be the lowest in the present cyele. That's because the large supplies of cheap corn in the Corn Belt seem to make an Increase certain for next springs pig crop. "Recovery from the low hog prices of late 1968 will be slow. There isnt likely to be much money in hogs again until about 1970. "The next period of favorable cattle prices seems likely to come if weather favors around 1970-7- 2 percent good pastures and feed crops at that time. A strong holdback in cattle for increasing herds may be under way by then, and pork suppliers may be near the low point of the next hog cycle. "No big change in cattle prices seems likely for 1968 unless there is a severe drought or a sharp change in economic conditions. "Fed cattle marketings are likely to be fairly large next spring, bringing some decline in prices from winter levels. The cattle-on-fe- ed reports show a substantial increase in feedlot animals that will reach market weights and finish in the spring. If spring prices are weak, the usual summer rebound can be expected. "Lamb prices are likely to be moderately higher in 1968. Fewer lambs are being fed, and the coming lamb crop will be smaller again. It is estimated that January 1968 stocks of frozen turkeys were over 100 million pounds larger than the stocks a year ago. An reduction in the number of turkeys raised for market next year was recommended by USDA in its 1968 turkey marketing guide. To help accomplish the reducdecrease in the tion, a number of breeder hens on Jan. 1, 1968 was suggested by Department officials. Such a reduction of the turkey flock from 1967 levels is expected to result in a producer price averaging between the levels of 1966 and 1967, the Department said. Elmo W. Hamilton, center, was presented a plaque recognizing a gain in membership in every county in the stale. Only seven states achieved this distinction. Charles B. Shuman, AFBF president, left, indicates his support for more of the same from other states in '68. n o Q0 QQs C0qgxD Stora? I), IJUUULJULEgdJUJ or 18-perc- ent 22-perc- Overseas Jobs OVERSEAS JOBS - Australia, Europe, South America, Far East, etc. Openings in all trades and $400 to professions. $2,500 monthly, Free information write National Employment Service (Foreign Division) Box 2235 A.M.F. Miami, Florida 33159 CWulEJMCJIERS Complete Dwelliimgi Coverage Some people thirk all you need is fire insurance on your house. Tain't so. Nowdays you need fire, wind and other protection against damage to your house and its con-- I tents PLUS you. need protection against claims against you for damage to others on your property. The milkman slipping on your steps, a neighbor child injured in your driveway. Not pleasant to think about, but it happens. For complete protection at low cost, it's the Farm Bureau Homeowners policy. Call your Farm Bureau agent. He's in the Yellow Pages. ths company that gats costs right down to brass tacks UTAH FARM BUREAU INSURANCE |