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This week's
Farm price outlook
This is the way prospects for Virginia farm prices looked to the Virginia Department of Agriculture and Commerce on Friday. The Department offers it to farmers with the warning that no one can predict prices and be right all the time.
HOGS
Hog prices are expected to show little change during the next few weeks, but may show some strength with the approach of the mid-summer seasonal low in slaughter.
Marketings in the 10 corn belt states should continue 5 to 10 per cent below a year earlier throughout the fall period and into 1973. AsofMarchl,farrowings were down 6 per cent for the December-February period; and intentions to farrow reflected 7 per cent declines for both the March-May and June-August periods.
Slaughter for the first three weeks of May averaged 11 per cent below May last year, and will continue to move down seasonally throughout the summer and into the fall to a level of 5 to 10 per cent below a year earlier.
Consumer demand for pork should continue strong, and the overall meat supply seems to be in good balance. Cold storage holdings of pork on May 1 were 14 per cent below a year ago.
95.5%