Show Crop And Livestock Our latest Babson survey of nationwide prospects generally confirms August estimates of a 28 percent increase in feed-grain spread of the corn blight and the possibility of frost damage to this and other late crops in the critical growing period ahead could hold total outturn well below the EVEN IF the projected record corn production of billion is not we could have a bumper crop matching-or exceeding-the 1967 top of billion Most observers feel this surplus output stems from the government's new corn program aimed to make producers less dependent on Uncle We look for more price weakness than strength over the near sharper dips And a big boost in livestock output next Still strong demand for oilseed meal at home and abroad suggests that this year's anticipated increase in soybean output to a total of billion bushels won't be unduly burdensome since stocks will be pretty well whittled down by start of the new marketing How we expect prices to be on the defensive from harvest time on and following corn trends pretty THE prospective U. S. 1971 wheat outturn of billion bushels has basically bearish production of winter wheat is expected to lag year-ago levels slightly and supplies of this category to the smaller will be appreciably below Stocks next July will be up Sharp increases in wheat output in Canada and Western Europe are forecast and some betterment over the poor showings made in Australia and Argentina last year is If these expectations are U. S. exports in the season will lag year-earlier totals by a substantial we look for wheat prices to lag those of last season on REPORTS FROM the 23 major feeding states at midyear indicated that cattle and calves on feed there numbered 2 percent more than a year If feeders in these same states adhere to early intentions to step up in the current July-September quarter-as seems so far to be the case-nees should be met without This will continue to put prices under pressure and further weakness lies But for the most cattle quotes will hold above last year's levels and producers will fare better than hog breeders and Looks like the national pig crop for would come within 5 percent of Hence will continue burdensomely large for at least another 60 perhaps we think the price bottom has been seen for this cycle and expect somewhat higher averages next month and more firmness POULTRY consumption has had trouble holding its own over the past several partly because supplies of competing pork were and moderately While this has led to some cutbacks in the production of broilers compared with a year on the whole supplies have been-and continue to be-in excess of Cold-storage holdings of turkeys recently were far above year-ago Some price firming-but no sharp gain-is in the OVERPRODUCTION of eggs this summer has not been extreme but when the increase over a ago is weighed in the light of top-heavy storage stocks of frozen eggs and sizable holdings of shell it's easy to see why prices are Unless producers curtail of egg-type chicks this fall and the bottom could fall out of egg prices in the forepart of |