Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-05-10
CATTLE TRADE SLOW
STEERS WEAK TO TEN LOWER,
BUT BUTCHER STOCK STEADY
TO STRONGER.
HiG CLOSE FIVE LOWER,
DUE TO LIBERAL RECEIPTS
Refusal of Packers to Purchase at Pre-.
vailins Values, Causes Loss Of EARLY
Firmness - Sheep Prices Advance
Ten, On Fairly Good Demand and
Light Receipts.


Chicago, May 10.-Cattle trade was
generally slow, steers ruling weak to
10 cents lower, while butcher stock
was wanted at steady to stronger
prices. Best demand was shown for
heavy COWS and good heifers.
Evidence of improved conditions in
beef trade is at hand on all sides.
Shippers have been giving the market
good support in late days all week,
taking close to 10000 cattle, while
packers bought freely practically every
day last week
1t is evident in steer trade that the
feeders have become accustomed to the
considerably altered price basis in the
past two weeks, to such an extent as
to prevent any big rush of stock result
ant from sharp advances in the range.
Outlook for this week favors q mod
crate run, but the killers requirements
are not such as will likely afford good
outlet for any above normal supplies
The trade, however, has little fear Of
big supplies, since there is a greater
tendency now to buy corn and feed
rather than ship literally of the med
ium and plain habitat classes.
Hogs.
Liberal receipts resulted in rather a
weak market. Some early activity on
the part of spectators induced a mod
crate degree of firmness, but the re-
fusal of packers to purchase at the
prevailing prices. prevented any adj
vance in prices. The close was about
5 cents lower than the previous ses-
sion.
Packers are on the long side OF pro-
visions, merchandising is in full swing
and break in hog values now would
remove to some extent the incentive of
the middleman for filling his shelves
By sustaining hog prices packers cx-
pect to clean out their cellars and be-
gin new deal when the summer run
of hogs begins in June. That 1t Is a
good hog market is indicated by the
fact that prices are s1.60@1.7O per 100
higher than year ago. This high
level would seem to make bullish fore
casts unreasonable and the whole trade
takes a conservatively bearish view of
the summer prospect. When hogs sell
above cents they are high and the
fact that the packers favor high prices
for the moment is undoubtedly a fac
tor.
Sheep.
The supply was too low for the needs
Of trade, and on fairly good demand,
prices advanced 10 cents. Clipped an
1e to-,
Receipts of lambs show shortage
Of $4,000 head, compared with the cor
responding week one year ago. The big
decrease is startling to those not
knowing of the short supply on feed
this year. Because receipts the fore
part Of the year We're as many as
year ago many people thought the sea-
son would close with fully as many
sheep marketed as last year. All re-
cords for high prices have already been
broken and traders do not think the top
has been reached. At these high prices,
they advise marketing anything that
is fat and ready to come but think
1t we'll to finish feeding stuff before
marketing.
There never was a time in the his
tory of the trade when buyers sought
big dressers as much as now, but this
is because prices are so high. It is
no unsual thing to see a string Of
lambs sold at the top of the market
followed to the scale by a lot bringing
so cents less that are apparently just
as good. 1t is all due to the dead cost
and the buyers are very particular.
Many lambs selling at cents are cost
ing more dead than those so cents
higher
Current prices are materially higher
than a year ago and are even higher
than the high spot of the correspond
ing period of 1907 Steady gains have
been made and none of the apprecia-
ton has been lost. AT the close last
week $3.50 was the lint on wool
lambs, s7.55 on shorn lambs and Sc on
sheep. Now few wool lambs are SELL
ing below SO, and not many good shorn
lambs under IS.
CHICAGO Livestock.