The Dickinson press., 1904-02-20
REVIEW OF YEAR 1903
BY ths Uasoa Stock Yasds and Transit
Co0oaav Of Chicano.

-H.er.a- n l
The Union Stock Yards oil Chicago,
the greatest institution of its kind in the
known world, has issued its annual re-
port for 1903, from which the following
items Of interest are culled for the in
formation of range stock readers.
The receipts of livestock at the Union
Stock Yards, Chicago, for the year 1903
show an increase of 4oo.o27 cattle, 1906
calves, and 67.o44 sheep, and a decrease
Of 56o.3'5 hogs and l,4o7 horses, with a
general increase of 24,8Is carloads in the
total receipts, being a gain Of about 9
per cent as compared with 1902.
The average weight Of animals receiv
cd at this market during the years 1902
and 1903. respectfully, was as follows:
Cattle. Hogs. Sheep.
1902 . o82 22o 81
1903 . . 1903 226 81
This shows an average increase for 1903
Of s. pounds per head in the weight of
cattle, 6 pounds per head in the weight
OF hogs, and a decrease Of two pounds
per head in the average weight Of sheep.
During the year 1903, as compared
with 1902, there was an average decline
Of about SI.35 per one hundred pounds
in prices for native steers of 1900 to 1900
pounds average weight, which decline
was pretty evenly distributed through
out the year. Native sheep and native
and western lambs averaged about ten
cents per one hundred pounds higher,
and western sheep about twenty-five per
one hundred pounds lower in prices dur
ing the year. There was no material
change in the average value of horses, a
sharp advance early in the season being
followed by a gradual decline. There is
now no doubt that the market prices for
live stock, especially cattle, during .
were unwarranted by either the acutal
supplies in the country or the actual state
of labor and finances on which must rest
a continuation of the unparalleled pros
perity and confidence which then exist
ed, and without which the flood tide of
consumptive demand could not continue.
Moreover, the high prices of last year
| Of live stock and meats caused a consid-
cradle falling off in exports, throwing
back on our hands a surplus of animals
that this year helped to crowd our
markets.
1t should be borne in mind that in
creased marketing does not necessarily
mean an increased production. and this
applies to cattle more fully than to any
other kind Of livestock. Certainly, much
premature liquidation of cattle values
has taken place during the last twelve
months, and in view of market receipts
during the time it would be difficult to
believe that the natural increase had
kept up an equal pace.
The prices paid in 1903 for cattle and
hogs appear low when contrasted with
the abnormally high prices of 1902, but
not when compared with their average
market value for a period Of ten years
previous.
Taking prices for native steers of 1900
to 1900 pounds average asthe best index
to the general cattle market, the average
price of such cattle for the year 1902 was
s5.25 per cwt; for a period of ten years
previous to 1902, S4.75 per cwt; and for
1903, $500 per cwt, with the loves,
monthly average price in December al
s4.65.
Much complaint exists, and there
seems good ground for believing. tina,
the retailers of meat throughout the
country have not lowered their prices
directly to consumers to correspond with
the decline in prices Of live animals anG
in the wholesale prices OF dressed car
cases. This, of course, prevents the
increased consumption which woulc
otherwise follow lower prices, and shut:
off an additional natural outlet to which
the markets for livestock are Justly en-
titled. 1t is thus a serious matter Il
both producers of animals and t.
packers.
However, it is probable that value!
have now reached about their loves
point, and already preparations are be
ing made for a large export trade which
has been encouraged by recent low prices
On the other hand strong indicationt!
point to a moderation Of receipts and i
retailers Of meat would only bring theiI
prices into line with wholesale, live anc
dressed meat prices, a greater demand
would be created thereby and more sat
~isfactory conditions would soon follow ii
the livestock markets.
Many who were attracted by the un
usually high prices Of roo2 went temper
arily into the cattle feeding business
These have dropped out during the pas
year, their herds having swelled the mar
ket surplus. leaving empty feedlots be
hind. Thousands of others who usual,
feed cattle have sold their herds and arr
now boarding corn. Still othels have
been. compelled to market immature
cattle during the past year because O
their inability to renew loans, These
have swelled the receipts of the yea
just closed but they will not appear or
the market during the coming year. Ir
consequence the prices of good feeding
steers are very low, also prime young
heifers available for either feeding o.
breeding.
4 1t would seem therefore that a mos
favorable opportunity to stock up feee
lots, or lay the foundation for a fine bee
raising herd, is now offered. The mar
keting Of so many short-fed cattle dur
ing the last six months that have no
been replaced and the present strong
tendency to hoard corn, must leave il
the feedlots only a y evy moderate suppl.
Of cattle to come into prime market con
dition during the next six months, ane