Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-05-24
CATTLE PRICES STEADY
OFFERINGS IN THAT MARKET
WERE MODERATE, AND TRADE
DRAGGED CONSIDERABLY
HOG MARKET FLucTuATEs;
BULK OF SALES LOWER
"A Better Tone Followed Opening De-
cline, and Some Grades Resaned the
Early Loss, But Strength Did Not
Hold - Sheep Active at Fifteen to
Twenty-Five Advance.

Chicago, May 4.-Cattle-Butcher
stock moved with greater freedom to-
day, than did steers. Demand for both
classes was sufficient to hold prices
steady and some prime steers and
butcher stuff of quality sold at slight
ly strong levels. Offerings were moder-
ate and trade dragged considerably.
Because of the abundance of choice
steers on late days, the high priced
kinds showed more decline than the
common light ones. A very large per-
centage of the offerings have consisted
of cattle above the medium class and
there We're more above 1900 lbs than
usual. A limited number of these cat
tie met with strong inquiry, but
buyers We're not in shape to absorb
so many. There was quite a sprinklng
of the good heavy steers from Kansas
and Nebraska These sold mostly at
s6.S5@T.10. 'Stillers are coming freely,
selling mainly at s6.50@6.S0 Most of
the medium to good steers went at
S6.25 $50, and the percentage of light
weights and short fed cattle below Sc
was smaller than usual. a few infer
ior light steers sold down to So, but
feeder buyers are after all the light
ones they can find below $3.50.
Hogs.
The hog run was too heavy for the
requirements of trade, and at the OPP
ening prices We're a nickel lower. La
ter a better tone prevailed, and some
grades regained the early loss, but the
market was erratic, and the bulk of
sales We're lower than at the close last
week. A considerable number were car
ried over until tomorrow.
The high price of corn all winter,
causing wholesale marketing of i'm
mature hogs, is regarded as certain to
result in a shortage of lard. Hog
weights have ruled far below a 10
year average for many months and
are still unseasonably light Europe
is alive to the situation and lard stocks
are being reduced at a season when
accumulation is the rule. Lard trade
conditions may be correctly described
as extraordinary. Lard refiners have
been forced recently to buy futures to
exchange for lard In cold storage to
refine and put on the market at a sea-
'O-A
it should be piling up. There are so
many orders on file to buy provisions
on breaks that the advocates of high
summer market for hogs are deriving
no little solace from the manner in
which the provision pit is actings De-
mand from all over the country for
cured hog product is enormous and a
Very heavy hog movement will be
needed to counteract it's bullish influ-
ence. With only few loads of finished
hogs, Weighing $50 pounds or more, in
a run of $4,000 at Chicago last Mon
day assertion that the country will be
able to keep up a continuous heavy
marketward movement at any time
during the summer is absurd There is
an element in the provision pit pre-
pared to buy on all declines and
abundantly supplied with the requisite
financial ammunition. At the same time
the Spectator willing to sell hog pro-
duct short would be reckless in the
extreme. A depressed hog market is
improbable when such pronounced
bullish sentiment is prevalent in pit
circles.
A year ago the top was $50, but
share of the crop sold below the half
dollar line. Market sentiment was
very bearish at that time. Two years
ago s6.15@6.25 took the bulk and three
years ago it was s6.4O@65O trade.
Sheep.
Sheep We're active, at an advance of
15@25 cents. Prime lambs found an
easy outlet.
Dressed mutton is selling we'll and
there are very light supplies every
where. Receipts for this week look
light, and there is but one reason in
the world why the market should be
lower and that is that prices have
been exceedingly high. Traders have
turned bulish again and expect some
very high prices for choice fed lambs
before the season closes. There is only
one thing that could prevent this and
that is extra heavy supplies of local
stuff, which the trade is not looking
for. No big runs looked for this week
as many local shipments lost heavily
last week, some selling 81 per cwt low
er than country cost, buyers having
over-estimated their quality when taxi