Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-01-27
All EARLY ADVANCE
LOST BEFORE CLOSE.
PACKERS FORCED REACTION IN
HOGS, RANGE OF BULK BEING
$3.50 TO $7.e5.
WHILE MARKET WAS STRONG
PRICES WERE 20 HIGHER
Cattle Were Steady But Market Was
Slow Despite Small Run. Butchers
Closing Weak and Decided Break
Shown in Feeders Of All Sorts For
Week-Sheep Unimproved.


Chicago, Jan. 12-An early advance
in hogs was all lost before the close
Packers forced the reaction, and the
bulk of their hogs promised to sell
within a range of $50 tho good
butchers and lights sold while the
, market was strong at 7.S0d1.s5 for the
, majority of them. 1t was reported that
one lot Of prime hogs brought S792la
This weeks run is variously con-
strued. Packers are of the opinion
that porcine army is lowering Oh the
market horizon and that the winter
crop will come fast and furiously here
after and al gradually increasing
weights. On the other hand. some of
the hogs that have put in an appear
ance this week did no. get to loading
stations last week owing to icy roads,
so that the two-week supply ought to
be equalized The fact remains, how
ever. that sentiment, both in packing,
speculative and merchandising circles.
is Progressively bearish. Current prices
are high and can be maintained only
DS GoiItIilled iiSHl tc@SipkS. ->O-Ne
week will develop whether the coun-
try has changed it's mind or not. Here
tofore such breaks as have been reg
iStered this week have promptly dried
up the run Shipping demand is still
good but is silestepping weight and
putting a premium on light stun.
A strong bear argument at this juno
ture is quality and weight 1t indicates
that the major portion OF the winter
crop is ready TO move. On the other
hand. cost to the consumer IS dimin-
ishing. which, logically, ought to slim
ulate consumption. On this topic Greg
son, the provision specialist. says:
Pork chops are quoted at 121ac re-
tail. leaf lard at 1880, No. 1 hams at
141.c. choice strip bacon at 171sc.
These prices. compared with anything
else in the market or prices prevalen.
last year, mean only one thing to US.
and that Is eventually all the demand
that can be supplied. especially If we
have no more hogs than reports and
receipts in dicate."
Cash trade is dull and stocks are
accommodating II the present run con-
tnues market talent regards lower
prices as more than probable. Janu-
ary receipts are $4,000 more than year
ago, while per cent increase in
weight is not to be regarded lightly.
| Cattle.
! Cattle were steady but the market
was slow. despite small run The
demand for butcher stuff was fairly
active, rather better than the inquiry
| for steers, but even butcher cattle are
closing the week weak. There has
been a decided break in feeders Of all
sorts.
| For the four days this week supply
stands SO sOo.against $3.50 week ago
and 60,317 year ago, but this cut in
receipts. as against week ago, has not
been sufficiently large to stem the price
| declines. After having bought Mon
days liberal run at good prices. paying
hrmer rates late that day than early.
the killers demand, as well as eastern
| inquiry. has suffered a considerable
slump, action of buyers clearly attest
irg a slowing down in beef demand I'M
der pressure Of movement Of last
weeks big purchases into beef chan
nels. and further price cuts this week
are the result.
Fridays market for all excepting
strictly prime strong weight steers and
yearlings of prime grade. latter sorts
Of which are a minus quantity. stands
| largely 10615 cents lower than last
weeks closing. while some instances OF
90 cents decline are shown for plain to
pretty good big weights. This price cut.
| following the slump last week, puts
market for bulk Of the $6.00@6.65 stuff
on basis largely 25@35 cents lower
than high time early last week. and
Yesterday the traders cited some I'M
stances Of greater decline, but these
We're not general.
Necessity for further cutting Of re-
ceipts is plainly shown. The trade is
in position to slump still harder early
next week unless soft weather is check
ed and some colder temperatures slim
ulate beef demand. Good quality heavy
steers are catching hardest price
knocks for reason that this kind has
formed big percentage Of supplies this
week. and the same situation is in store
for them a week ahead unless some
means of checking runs is adopted.
Sheep.
A few handy weight lambs sold
steady to shade stronger, but the
great bulk of live muttons proved
slow, and prices were not improved in
the slightest degree. Choice heavy
lambs at S., represented about the
price that has been paid for this class
all week.