Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-10-23
BIDDING BY PACKERS GIVES
MARKET A BETTER TONE,
WITH TOP AT So.
CATTLE RECEIPTS HEAVY
AND MARKET is UNSETTLED
All Grades But Prime Steers Show De-
cided Slump Compared With Last
Wholesome Sellers Consider Mar
ket rs Cents to 81 Lower Than Re-
cent High Time.

Chicago. Oct. pa strong and ac-
tive market for hogs featured the trade
after the opening today. Later, how
ever the activity of packers gave the
market better tone and the close was
at the highest level of the day. The top
was reported to be IS.
Receipts the first five days of this
week total only $500, or about $1,000
less than a year ago. October receipts
of hogs, estimating next week, will
total around 100000. or the smallest
october receipts in about twenty years.
and about half as many as arrived in
October 1900.
Cattle.
Heavy receipts of cattle caused
break in prices of all but prime steers,
on which a closing figure was given
as sS@9. Receipts of cattle for the
week passed all expectations, being s5,-
900 or 5000 more tina Mast weeks run.
Some sellers call the market 25@oO
cents lower than a week ago, While
others insist there have been declines of
IS cents to 81 compared with the recent
high time.
So successful has been the price raid
that values for all but prime steers are
down largely 50G75 cents from best
levels at the start last week, While
compared with the finish last week the
prices yesterday We're quotable 1000
cent slower. In numerous instances of
late cattle have sold at $50OM6.25
which showed as much as S100 decline
from best point, and even more. Not
only have the plain and medium to
pretty good steers suffered hard price
break, but the strictly good killers
which lacked heavy weight We're also
hard hit.
Even the Ss00@S.25 steers this week
were also lower sales than high time
last week but these kinds were hardly
quotable more than Is gents lower than
last weeks finish, while the strictly
choice to prime heavy steers have been
firm sale by by reason of the fact that
supplies of these have been smaller
than demands Choice 1400 to 1900
pounds steers in selling firm have in
nowise been a criterion of the market.
Cattle which have shown as good quail
ity, but weighed 100 to 200 pounds
lighter, have gone down the price lad
der sharply. because the demand was
medium weight kinds.
The s425M5.25 steers have met COM
petition from big lot of western
rangers, and while there was not much
of a stimulus from the feeder cattle
end of the trade, since the supplies of
feeders were heavy, too, buyers at
ter feeders did not compete very keen
lv for the grassy steers which did not
show some quality as we'll as flesh.
The break of the past two weeks has
been the most severe in months 1t did
not come unexpectedly, however, and
the reason for it have been plainly APP
parent since the country has been too
keen to liquidate grassy. short-fed and
warmed up steers in order to save corn
The result has been an excessive sup
ply not only at Chicago, but at western
points, and the killers have reveled in
a low-price period which they long
awaited
Ten to fifteen dollars per head de-
clines in steer values, as have been the
rule in a good many cases recently,
should make the feeders sit up and
think Continued heavy liquidation OF
cattle can only mean continued low
prices at market and even a lower
range than now prevailing. In event
that the weather remains good it would
appear that the sacrifice of cattle al
these declines will be poor business
policy. Corn is not SO high priced as
to be a prohibitive feed at a time Wher
the market breaks SOC TO 81 intwe
weeks under excessive supplies. II
seems reasonable that little bracins
up of values can be affected by shut
down in heavy liquidation and it is w
to the country to cease rushing cattle
off the grass and out of the feed lots
after they have been in them only {
short time It's money-losing game
just now, this rushing to market of ex
cessive supplies of 100 to 1900 pount
grassy and warmed-up steers. The.
are coming in competition with heav.
shipments of range cattle and the Kill
lers are being afforded a grand oppor
tunity to lay in big pile of cheap bee
for use in later months this year. TIVE
weeks of steadily declining prices suf
= flee. 1t is up to the country to TAX
cognizance of a semi-panicky situation
. as regards the prices and quit over
Y loading the market.
\ Sheep.
G Sheep and lambs We're steady, offer
ings being light and in scattering lot
n only. Top for native lambs was 81.