Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-06-05
''DULLNESS N Cattle
TRADE IN THAT MARKET ONLY
NOMINAL BUT STEADY PRICES
MAINTAINED.
PACKERS WITHDRAW SUPPORT,
AND HOGS DECLINE TEN
Only the Opening Was On a Steady
Basis and Common Mixed Stuff Was
Hard to Dispose of-Many Offerings
Go over-Sheep Market Offerings Of
Inferior Quality.

Go Over-Sheep Market Offerings Of
Inferior Quality.
Chicago, June 5.
Cattle-Trade was a nominal affair,
with prices steady and receipts in
sufficient to make it worth while for
buyers to come into the alleys.
Shippers have been poorer supporters
of the market all around during the
week and a very slack demand from
the export buyers added its bearish iu-
fluence. The total outward movement
of cattle in five days stands at $1,000
only 500 increase over week ago. and it
has thus been up to the packers to take
practically all of the increased receipts.
With the advantage of less keen corn
petition than a week ago local buyers
have succeeded in getting the prices
lower all along the line. hut the trade is
not much in fear of continued bearish
trend of affairs.
This weeks decline should check
marketing to a volume more in keeping
with demands in the next week. With
the hogs at highest price of the year It
is doubtful if feeders will cut loose cat
tie which they are feeding in connec-
ton with hogs, since the market ahead
for steers promises we'll, and surely
there is nothing in the outlook for the
future as regards hog trade which
should cause any uneasiness among the
owners. Conservative marketing of
steers is in order and should prevail in
the later weeks this month. The coun-
try has generally been looking to June
markets to establish some high levels
and disappointment is not likely if the
feeders will operate on conservative
basis. Beef demands are still reason
ably broad, but whenever there is a
little surplus of marketings naturally a
price break is had.
Quality has held we'll up with last
weeks standard. A considerable supply
of choice heavy steers We're among the
weeks arrivals, while there was also
a liberal number of yearlings al hand
Prime yearlings have not shown much
change in value from last week, but
the others sold down on the same
basis with heavy steers, a good share
of the yearlings landing at $50 30 cents
decline from prices paid week ago.
Hogs.
I Trade opened on a steady basis, but
as the day advanced. packers withdrew
their support and prices declined 10
cents. Common mixed stuff was hard
to dispose of, considerable number
going over until Monday. The major
ity of shipping hogs sold early at $50.
J Killers are realizing that good hogs
are worth what they are costing and
show disposition to take them at a
premium. If this policy is continued
the spread will soon be 81 per cwt, as
it ought to be. Corn-fed hogs ought to
command a substantial premium.
September pork sold Thursday at
500. the highest price since 1887, when
Armour ran a corner in pork, altho
cash pork sold at $50 II 1905. July
sold up to 1880. Total stocks Of pork
here are only about 1900 brls, and it
is believed that stock is practically all
controlled by the leading packers. 1t
is understood that Swift and Armour
have picked up the bulk of the stocks
of all kinds of hog products recently
and are now in control of the market
Cash sales the last few days have
been large an dthe demand from shorts
and shippers developed the fact that
offerings were extremely small anc
prices were lifted radically. June /
the official statement of provision
stocks at Chicago showed supplies te
be of light proportions. but man,
traders believed they had been dis.
counted by the recent advance. 1t ha:
been known for some time that sup.
plies would be small and there ha!
been much buying based on that eS'
pectation. Disappointing hog receipt!
and the continuance of an urgent con
sumptive demand for side meats hav,
been the big factors in the situation
Hog prices have advanced until the,
are relatively as high as the manufac
tured product, and sellers are indie
pendent in their views. Traders d.
not see much hope for relief from tn
present tight situation until there is
!. fundamental change in the supply AM
demand situation, the run of hogs be
ing insufficient to supply the cash call
Stocks of cut meats Of all leading
western packing centers decreased %,
, 100000 lbs during May, compared t
a decrease of 100000 lbs in May, 1905
and an increase of 100000 lbs il
, May, 1907. Pork is now about on
parity with lard and ribs.
Sheep.
, Most of the days receipts were sen
direct to packers, and the stuff on sal
, was of poor finish and inferior qualit,
, Prices on such stock as was sold, wer
, unchanged.
Chicago Livestock.