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Feed Supplies Seen
To Be Ample Here
Hie 1968-69 feeding season promises continued ample feed supplies, with a larger beginning carryover more than making up for a 3 percent decline in the feed grain crop from last year’s record.
Prices have strengthened in recent weeks after trailing year-earlier levels during the summer and early fall. Further seasonal strength is expected later in the marketing year.
Domestjc consumption this marketing year is expected to increase about 4 or 5 percent over 1967-68 as livestock/feed price ratios generally favor liberal feeding. With large feed grain supplies again available in Europe, feed grain exports probably will continue near last year’s level of 23 million tons. Total disappearance probably will be close to 1968’s production of 171 million tons, and little change is expected in the 1969/70 carryover from the 48 million tons carried over this year.
91.1%