The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-08-02

The Ohlcago Bhoe add Leather Review
says the future Of the leather market. IN
volylng M II does the question OF the hide
supply, IA nov being discussed and studied
over, and "a might be expected, there H. the
usual diversity Of opinion on the subject,
On the one side II u argued that the stock
ing Of ranges on a large scale has now been
going on Tor fully four years, aud that the
time has come when good number OF
these cattle must be marketed. The high
prices for cattle have stimulated this BUSH
ness TO an enormous extent. and oil admit
that the increase In cattle raising has been
largely II excess OF any prospective de-
mand. An abundant supply OF cheap cat.
tie Is therefore assured, but the question
now is will the available supply Affect the
market this fall or will we have to wait
another year? With the immense amounts
OF money invested In cattle-raising by indi.
viduals and companies, II Is clear that the
time must soou come when the business
will be overdone, and cattle will be drug in
the market. Since the opening OF the present
season there has been a steady decline in
the prices OF cattle, In spite of the fact that
buyers are taking young cattle from all
sections and shipping them TO the western
ranges. We have really supply of cattle
now offering in excess of the regular con-
sumptive demand, and it would be impos-
sibe to sustain the prices, even at present
| figures, IL II were not tor the extra d. m ind
caused by the stocking of new ranges.
Those who think that there will not be any
very large offerings this fall base their
opinions on the theory that the ranchmen
will obstinately refuse 10 sell at the de-
cline. They will argue, it Is claimed, that
the low prices this year are due to the
abundant corn crop, which gives farmers
cheap feeding for their cattle. AS it costs
nothing, comparatively 'eaking, TO keep
the cattle on the ranges, the ranchmen will
let them run for another year, in hopes Of
better market then. 1t is stated, as a
point in support Of this theory, that banks
at western points have received numerous
applications for loans from parties who mad
SO determined not to sell this year.
The individuals or companies who went
into the business last year and bought high
priced cattle will no doubt feel unwilling TO
accept the lower figures now ruling, but 1t
is hardly probable that those who have
had a longer experience will hesitate
to sell, for 1t must be clear to them
that another years delay will only make
the situation so much worse for them. At
4 years old the cattle are matured, and af-
ter that they do not gain enough to make
it profitable to keep them. The number of
cattle ready tor the market must therefore
be greater this season than ever before, and
1t does not seem possible that any cOnsld-
cradle portion of them will be held back.
The regular drive from Texas to the north
is undoubtedly large this season. Some
statements place the number as high as
one million, though that is undoubtedly an
exaggeration. The exact figure is not ma
terial to the question. The fact that there
is such an increase gives some idea of what
may be expected from the ranges in other
sections.
1t is safe to conclude that, to say the
least, there will be good supply of cattle
in the market this fall, and consequently
good supply of hides, and the probabilities
are strongly in favor of such an abundant
supply that prices will be materially low
cred. Under these circumstances the tan
ners can well afford to wait little and go
very slow in their present hide buying.
Prices cannot we'll 90 higher, and there is
reasonable assurance that they will be
lower.
QUOTATIONS TODAY.
Reported By win N. Wallis, Drovers ard
BuMners Stock Yard, North Side Elm st.
BEEVES-C0.n beeves, none, fair to good
grass beeve' 3@32Sc per pound; medium grass
beeyes, 2&@3c per pound.
North Texan grades. 40 90 go CO., common to
tair, IS 00 so 90. Stock cattle aIoud Is go 90.
CALvES-Veal calves, 5 00s s 90; yearLngs,
l0@16 90; two-year-olds l20118.
SHEEP-GOOd mutton, 3@3hc per pound;
medium mutton, 2A@Sc per pound; stock sheep,
2 00i63 no.
GOATS 2 95@25o per head.
HOG5-Corn fed, none; medium. nons stock
hogs III good demand: none in market.