Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-12-01
The Hog Situation.

Chicago, Dec. PACKERS want the
hogs.
They have place to put this crop
or surface indications in market cir
cles are wholly unreliable.
There will be a ton of money TO
buy this crop Of hogs around Il cents
if they ever get, them that low de-
clared trade expert.
While protesting loudly that they
did not want hogs, packers have fairly
burst their suspender buttons, meta
phorically speaking, during the past
few days in wild rush to purchase
They have betrayed their necessities
in a convincing manner.
The 4h-cent basis argument has
been blown sky high. A few days ago
provision pit quotations were being
manipulated to influence the hog mar
ket: now hogs are Following provis-
ions.
Always the unexpected persists in
ed packers to hold down pit values
until their cellars were filled, lightning
flashed across a clear sky. The public
got in and took the market away.
When the public wants anything 1t
usually carries it's point. The result
may be possession of gold brick, OUT
it gets it anyway.
Ordinarily the provision pit is as
dead as pool room with a detective
at both doors, but when frenzy de-
velops in that trade arena, it is always
of the variety Tom Lawson loves to
depict.
Just now provision buying is a fad
with spectators. Commission houses
are getting more orders than at any
time in two years. 1t was just two
years ago that a local bull and
strong following Of Wall street and
southern traders started buying. They
took the market away from the pack
ers and ran prices up $5.671a a barrel
on pork, q cents per pound on lard.
and 11s cents per pound on short ribs.
Here is the view of the outlook, TAX
en- by a trader who is in the present
swim:
provisions are once more world
market, starting from moderate
level, with depleted stocks and an en-
ormous domestic and export demand.
The unprecedented drought of 1904
throughout the continent forced the
marketing of live stock and has left
northern Europe almost entirely de-
pendent on this country for it's sup
plies of meats and lard. This situa-
ton is intensified by the shortage in
production of olive oil in southern Eu-
ropean countries during the last two
years, which has resulted in largely in
creased demands for lard and all other
fats
In this country work.
ing. Labor is receiving higher pay for
fewer hours than was ever before
known. Every family buys meat and
buys all the meat it wants. Our in
crease in population furnishes about
100000 more meat eaters each year,
Our production of meats barely takes
care of our Increasing population in
ordinary years. In such year as the
present it promises to prove entirely
inadequate on the basis of the present
level of values.
an 1901 lard sold at 1OAc per Id. in
1902 at lie, in 1903 at lie, in 1904 at
1929. Mess pork sold at $3.50, $3.50,
1887, and $3.50. Ribs sold at 9.1Oc,
12Ac, 10c, and SC, respectively. in the
same years. With stocks as light as
they are at the present. and with an
enormous demand in sight 1t is nat
ural for the packers to endeavor to
depress the price of hogs and accum-
ulate heavy holdings of provisions at
a low level.
81 believe you can stand in with the
hacker and secure your share of the
advance that is bound to come by buy
ing provisions now and continuing to