Omaha daily bee., 1894-03-25

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To those who supposed the bottom of the
cattle depression had been reached this
weeks trade has been something of a
revelation, and the general opinion now
seems to be that there is no bottom TO 1T.
The trade. has been in very bad shape,
Eastern markets have been suffering from
excessive receipts. and at Chicago, up to and
including yesterday, they were quoting a
drop Of 4Oc to soc, especially on the good
cattle. 1t is hard to realize how bad the
market really is. unless by actual eX-
perience. To say that every fed bullock
that was sold this week lost money for
somebody would not be wide Of the truth.
Prime 1.600-lb. bceves sold in Chicago Fri
day for S4.20. A year ago the same cattle
here would bring $3.50 without the slightest
trouble. The whole trouble has been and
continues to be in the demand. People
are not eating so much beef as a year ago,
not that they don't want 1t or have found a
substitute for it, they simply don't have the
money to buy, and are getting along as
best they can without it. For a while the
English market was enough higher than
this to make shipments profitable, but every
one went to exporting and the market then
flattened out, leaving no outlet. That eX-
plains the dizziness in the trade this week.
Prices have gone off 15c to zoe on all grades.
the heavier grades suffering the most. Up
to Wednesday the decline was very rapid,
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caused a slightly frmer feeling.
JUST A LITTLE BETTER.
That was exactly the condition of the mar
ket today. There were less than 100 cars
of cattle on sale, all told. and although the
demand was no better, the limited offerings
naturally led to more activity ON the part
of buyers for local dressed beef houses. par
ticularly as shippers were still willing to
run chances with the low priced cattle. The
heavy cattle sold freely, but at away down
prices. Light and medium weight steers
of good quality were ready sellers and oc-
casionally at a tritie frmer prices. Fair
to choice 1900 to I,400-fb beeves sold all
the way from $3,l5 up to $3.65, while fair
to good 900 to 1,150-lb steers went at from
$3.05 to So. 30, and common and inferior stuff
at from SO down. sellers have got used to
the starvation prices and business was toler-
ably brisk at the prevailing low figures. By
noon there was very little decent stuff left
in first hands. and everything finally sold
before the close.
A special feature this week has been the
strength and activity of the market for COW
stuff. Early in the week. with quite liberal
receipts, prices ruled weak and lower, but
later, as supplies fell off. prices picked up
sharply, and with less than 300 cows all
told on sale today trade was lively, and on
the general run of butchers stock prices
ruled all of 10c to 15c better than Wednes-
day. the low day of the week. Poor to
choice cows and heifers sold today at from
$1.25 to SO, with the bulk of the fair to good
butchers cows at from $2.40 to 81. 80. Calves
sold freely at good, strong prices. from $2.5
to 1928. and rough stock was generally
steady at from $1.75 to $3.50 for common to
very good beeves, oxen and stays.
Another surprise is the way feeders are
selling. The supply continues to fall away
short of the demand, and prices are very
strong. and compared with fat cattle values,
very high. Fat cattle are certainly very
cheap. but corn is, too. and feeders natur-
ally think the thing must change soon, and
while they may not make much on their
cattle, they can't loose much on their corn.
Good to choice feeders are quoted at from
So to $40; fair to good 1T from S2.75 to So.
and lighter, IN grades at from $2.75
down. |