The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1914-08-14
MEAT PRICE AND SUPPLY

| of all the people who have to d
with prices and marl:et condition:
nobody is so frequently under sus
picion, and hardly anybody manage
so regularly to come forward with
satisfactory expiaration, as the BIZ
Packers. they arc not especiall
popular, and il IS doubtful if tn
system under With they dominat
the meat business, concentrating
at a lew great ccnters, IS or tn
whole eood for the country. But tn
fact remains that, eli the way fror
the Garfield investigation DOWN t.
the present bulge III meat prices, tn
packers have commonly succeeded il
clearing their skis of RESPONSIBLE
ity for Vicious conditions.
Last year there vas a grant chol
era epidemic amcng corn belt hogs
The packers didn't cause It, but i
had two effects. One was immediate
ly to reduce the lumber of ~ IS. tn,
other was to disco, 1age many farm
ers about raising hogs for tbs year:
market. Look at The results.
On Tuesday Of this week $500
hogs were received at the important
Western marke. Of Sioux City. Or
the corresponding Tuesday of last
year, the receipts there were nearly
$4,000. Omaha, St. Joseph, Kansas
City, Chicago, and the Western
markets generally showed CORE
spending drops in receipts.
President Armour, of the Armour
Company, makes a statement that
shows the reflection of these condi-
tons in the packers business. Last
week he says the company's nine
plants killed only 14,T3s hogsswhile
in the corresponding week last year
they billed 70,33s; last week they
killed 1852 cattle, against 21,s36
the year before; 30,334 sheep,
against 1856 year earlier.
The packers wanted the stock, but
the farmers didn't send it to them.
Didn't send it, partly because they
didn't have it, partly because the
market was high and going higher,
and farmers VIGOROUSLY sell on a
falling market and decline to sell on
e rising market, So prices went
higher, until reaction came. There
were serious threats of boycotts of
meat, and governmental investiga-
tons. Prices dropped, and on the
falling market the stock began pour
ing into market.
In addition to the often-noted in
disposition of the farmers to sell
while the market is rising, there was
last week the additional fact that
the financial situation was nervous.
Banks were chary about letting out
money, and buyers found it we'll
nigh impossible to finance their
trades. This condition has passed
and the stock is once more coming.
But there will Tot be more stock
on the markets than there is on the
farms to come to the markets. The
great danger is that with a foreign
market bidding prices up, and
short supply of stock here, we shall
see once more the spectacle of farm
FRS selling down 100 closely, and not
keeping enough stock to raise the
supply for the future. In that event
next year will see the supply con-
tinue short.
Prices are likely to be very fever
ssh for some time to come; certainly
until there is some reasonable GER
;ainty about our posture with rela-
ion to the foreign market. If we are
going to have shipping and secure
passage on the North Atlantic, both
meats and grain will presently be-
gin to move abroad in large guam
titles. We have plenty of grain on
hand to meet the demands. Terminal
warehouses from Galveston to Port
and are full of it, and prices Just
low are depressed because it can
Tot be sent away as fast as it is
But that condition is un-
likely to continue long. Everything
indicates that the powers of the en-
,ente will soon have arrangements
o insure safety at sea, and with |
he renewed movement prices will |
effect the demands and needs of
Europe, rather than the temporary
of transportation facili-
les.