FARM OUTLOOK

Hokitika Guardian, 28 January 1930, Page 6

FARM OUTLOOK

IN U.S.A. United Press Association—By Electric Telegraph—Copyright). WASHINGTON, January 26. The Department of Agriculture has issued its annual “outlook” report in which it has cautioned the farmeis against over production. It indicated that the domestic markets, at least for the first half of the year, will be a.s good as past years. It says: “The demand for some farm products noticeably butter and wool, has been affected by a decline in industrial activity since last June.” The reports continues: More competition may he expected from foreign production in wheat. Little change is to lie anticipated in dairy products and wool.” The prices of the 1939 wheat crop are expected to be little different from those in 1929, unless the winter damage is severe. It says : The world wheat acreage probably will not be materially changed. The yields per acre are not likely to he as low as in 1929. The world demand for wheat appears to be increasing. The United States must expect to meet continued keen competition from Canada.. and Australia, and perhaps also from Russia.”

The report says: “The high point in expansion of the, sheep industry has been reached. It is unlikely that the prices for sheep and lambs can be maintained at the high levels of the last three or four years.”