Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-07-01
OFFERINGS WE'RE TOO MUCH
AND scALPERs INCLINED TO
BID LOW.
SELLERS COULDN'T HOLD
PRICES UP; TOP AT $e.45
Shippers Advised to curtail Receipts
Next Few Days to Avert Slump
Cattle Slightly Weaker and ToPpy
Sorts Showed 10 Decline, Butchers
slow-Lambs Strong, Sheep Steady.

Chicago, July 1.-The offerings were
too much for buyers of porcine stock
and the first acts of even scalpers were
to bid low. Sellers tried hard to hold
prices UP but generally the figures Sc
cured were 500 cents under those
paid during the hourishing part Of the
market and prices were quotable up
to S945.
Receipts Of hogs this month were
about 10000, the smallest June total
at Chicago since 1888. A year ago ST.
60 arrived, while two years ago 62S,-
732 were recorded. In June, 1899, ar
rivals We're $1,000
Combined receipts at eleven mar
kets first four days Of this week were
$4,000, or $4,000 less than a week ago.
Chicago the last four days had $500
less than week ago and 1860 more
than year ago.
Packers are now getting good
heavy hogs in fair numbers at $S.75
that they We're praying anxiously for
last winter at S1125'' said one Of the
day. These big hogs are coming in
We're getting the May hogs in June
and might get the June hogs all sum-
mer. Packers have been hiding their
stocks of product away in branch
houses in anticipation of a demand for
eats that has not materialized. De-
spite all assertions to the contrary,
there is absolutely no doubt that high
prices have seriously curtailed con-
" hn
the packers were trying to hold up the
price of hogs and also holding up July
product, which they own, SO as to be
able to do a little hedging in the spec
ulative market for distant months. The
public is not very much interested on
the buying side of product at the mo-
ment, and it does not look as tho it
was likely to become interested"
Cattle.
The market was slightly weaker. in
spite Of the fact that initial prices
were placed nominally higher than
those of yesterday. Sellers insisted
that toppy sorts showed a 1O-cent de-
cline. Butchers were slow.
Country shippers who are not anx-
ious to play into the hands of buyers
will do well to forward stock cautious
ket is in no condition to take care Of
a heavy supply of any class Of steers
and much less in a position TO absorb
mora than meager quota OF the com
mon to decent short-fed and grassy
grades. Many traders here believe that
the closing Of the market Monday. July
4. viii mean a big run of stock here on
Tuesday, the first trading day next
week
II such condition should eventuate
there is going to be an awful crash
here and country shippers who have
already sustained heavy losses as the
result of the recent sharp decline will
have lots of company. The advice most
generously circulated by commission
men here is to the effect that receipts
for next Tuesday and also for We'd
nesday should be held down to the
smallest proportions possible, and with
the dressed-meat situation in a decid-
eddy awakened condition this seems to
be the one best bet.
Another word Of caution. Packers
recently announced a reduction of II %
l cent in the prices Of the cheapest
grades of dressed beef Wednesday
they announced another reduction Of
y cent IN the same grade or STOCK.
1t is logical TO suppose that they are
not going to bend every effort to bear
down the price Of light and medium
weight steers of fair to good quality
in order to offset this reduction in the
revenue derived from the dressed car
casses and when the situation calls
for lower steer prices so urgently, it is
seldom that downward movement OF
prices is not recorded
Sheep.
Lambs were strong and sheep
steady.
The expectancy is for a moderate
to light run next week, as no big sup
ply OF range stuff is in sight and the
Monday holiday will cut down the
With rains in many sec
tons this week. feeder demand is ex-
pected to be fairly broad. A big sup
ply. however, would probably receive
a cold reception, as consumptive de-
mand for all meats has been greatly
curt allied by hot weather, and the big
eastern distributing points are still
more or less congested with dressed
mutton.