Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-08-04
SLIGHT rally IN
HOGS AFTER SLUMP
MARKET OPENS so CENTS LOWER
THAN MONDAYS FALLING
FIGURES.
GAINS OF 10 CENTS
MADE LATER IN SESSION
Trading lifeless and Spectators and
Packers Refuse to Bd-Cattle Mar
ket Weak Despite Small Receipts
Trade in Sheep and Lambs Shows
Some Activity and Prices Steady.

tinued in the hog market today, fol-
lowing Mondays radical decline. which
amounted To 30 cents per hundred on
some sorts. Opening prices TODAY We're
another 80 cents down, and trade was
iiteiess, but later showed some activ-
lty and advances of 10 cents Wee
scored.
The war talk has caused packers to
take on a bearsh attitude, and even
with the light run com paratively, they
held out for much lower prices, which
they succeeded in putting over. The
market Monday saw a great many hogs
selling At SIS and under, and it appeared
that some packing droves would cost
less than even money" Shippers were
only fair buyers and the small demand
that they caused helped trade very little
as packers were pegged considerably
lower from the outset and hogs did not
move scaieward till liberal prices were
made.
Mondays prices stand the lowest
since last December. Tho prices were
declined considerably from Saturday
many hogs had not received bids and
went over unsold. at was the meanest
market seen in years. said most trad
ers. Generally when prices are taken
off in such chunks, action can he gained
but this was not the case Monday and
trade dragged till the finish.
Cattle.
The cattle market was weak, despite
the fact that arrivals We're not mum
erous.
The fact that banks in New York
as well as Chicago, Went on clear
inghouse certificate basis as between
themselves in making settlements, haG
its obvious effect on the trade. In
stock yard circles spectators were no
titled by their bankers that they must
restrict their buying operations to the
limit of their deposits and this removed
a lot Of competition from the trade
more especially in she stock feeder cat
tie deal.
Traders are not taking any parttcu-
larly uneasy view of immediate future
conditions. They assert that cattle
scarcity in this country, which pre-
clEdes our entering into the foreign
trade on big scale as supply source
for warning Europe, should not cause
any prolonged or terrific declines il
the market. We can not supply Eur
ope with foodstuffs to any great extent
because OF inability to get commodities
across the sea, and, too. the steam ship
companies can not secure marine in
surance. Thus this country can not
be serious factor in supplying the
warning nations. We must rely upon
our own consumption, and this stu
alton to some extent, particularly in
event Of tight money for any extend
ed period. will, of course. have bear
ish effect on comm odty prices.
In trade circles, however. there is
declared to he no occasion for alarm,
and. obviously. it is time for peo
pie to keep their heads and not be-
come unduly excited over situations
arising. A rush to cash paper held by
banks against live stock could only
prec!pitate a distressing price situation
in the trade because % limited consum
er call for meat products.
Sheep
The sheep division showed the most
activity and prices were steady.
/ Despite the meage supply fair out
side competition and favorable dressed
market conditions, packers could not be
drawn out of the bearsh attitude they
held all last week Tightening up of the
| money market following a more or less
! panicky situation in financial circles
growing out of the European conflict,
was credited by the trade as being a
prime factor in the unsatisfactory con-
dition of the market and lead to much
| speculation on the part of traders as to
what the immediate future might de-
! velop.
| AS last week it was a one price mar
ket. especially in the lamb end of the
! deal, and altho sellers were able to put
! some of the most ordinary lambs over
1 the scales at top of the packer market
/ prices that were ever salable that way.
I little other than a steady trade with
/ the close last week could be made out
| of it. Lack of sorting. however, made
some selling actually higher. 1t was
s775 market to packers for all decent
native lambs. only rank culls having to
/ come out of bunch hes that carried fair
to choice to end. City butchers paid
| I'D to s7.s5m3 and took some lambs
| straight that way.
CHICAGO Livestock.