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Hog Price Estimate * Revised, Downward
There are more pigs going to market than most people thought there would be and consequently hog prices will be adversely affected ^or the rest of 1954. *
Dr, J. L. Maxton, associate agricultural economist at VPI, points out that the U. S. Department of Agriculture has revised its estimates for the spring pig crop as now being 13% more than in 1 1953. So, Dr. Maxton says, it becomes necessary to revise the price estimates.
Usually hog prices hit a peak in July and August, and then drop as marketings increase, to hit a low in December. However, hog prices this year hit their peak in April. This early peak resulted from many producers holding back hogs normally sold from February to April and at the same time feeding these hogs to heavier - weights. Since May, more heavier hogs have been marketed, while demand by consumers has been slow because of the intense heat throughout the countfy, relatively high pork prices and heavy supplies of other meats at lower
83.5%