| Show ECONOMIST PREDICTS BETTER TIMES IN 40 somewhat better tarm farm income for 1940 seems probable to united states department of agriculture economists and to outlook special fists from 46 states states dr 0 J wheatley who recently returned from the annual outlook conference held in washington although no one was willing to forecast the exact effect of the war upon the united states the majority felt that war uncertainties would not greatly alter the rather favorable domestic situation in spite of the fact that few jf if the specialists attending the conference felt that the rate of increase shown in the last few months could be maintained throughout 1940 general business activity was expected to show improvement pro however because of the accumulation of heavy inventories a business decline within the next few months like that which occurred in 1937 following similar inventory accumulations is expected with increased industrial activity and better consumer incomes farmers are expected to receive higher prices for most of their products prices as high as prevailed in the latter years of the flip last war were definitely not expected however because of the fact that inventories of basic agricultural ri products both in the united I 1 states and the world market mari are substantially higher than i thoy they were in 1914 prices boosted iby by lack of supply much above current levels do not seem likely increased consumer incomes due to improved domestic business will likely be reflected first in an increased demand for meats vegetables vegetable and fruits according to dr wheatly wheatley the war may shutoff shut kofl customary supply exports of some fresh fruits to europe thus throwing a larger than customary supply on local markets but because of the improvement in consumer incomes the larger than custom ary home supplies of fresh and i canned vegetables in prospect for 1940 are expected to bring better than average prices it is estimated that better prices on increased quantities of farm products marketed will wilf bring total farm cash incomes for 1940 somewhat above or about more than in 1939 |
