The Coconino sun., 1917-05-18
CONCERNING CATTLE PRICES

That current cattle values are legi- innate does not admit of doubt, al- though skepticism exists. Any inn precision that foreign demand, incid- ental to the war, has inflated prices, is erroneous. While the feed bill has been factor, it has actually been detrimental to the winter market, causing liquidation that has exerted a depressing influence on prices. This was especially the case during April, when thousands of light and yearling steers were sacrificed owing to an ad- vancing corn market and apprehen- sion of government price fixing. That prices withstood this liquidation so effectively and reacted promptly when supply pressure was removed ought to be convincing of underlying strength. During the past three months thousands of steers that un- der normal conditions would not have reached the Stock Yards until the June to September period have gone to the butcher and been eliminated from the visible beef supply. We have witnessed the unprecedented spectacle of light, thin cattle selling on high basis during a period of feed scarcity, killers paying prices for trash that would have been ab- surd recently. No more convincing evidence of actual and impending scarcity could be desired.
 The, worlds beef trade has been revolutionized during the past five years. For this the war has been partly responsible, but climatic vicis- situde and diminishing cattle supply have been the principal factors. For years the western grazing industry went on steer basis until the steer man awoke to realization that he could no longer replenish his pastures at prices that made a profit in the finality of the transaction possible. This season there has been a veritable scramble for aged steers in the west, pasturemen being compelled to take yearlings and two-year-olds, owing to scarcity of threes and fours. Each year witnesses the slaughter of a larger percentage of yearlings, which means material reduction of beef ton mage. The calf crop in the west has been diminishing until the cowman is again in the saddle. All the signs point to steady recuperation of the cattle industry west of the Missouri river, but it is not keeping pace with consumptive demand, and neither in the corn belt nor the east is commer- cial cattle breeding gaining in volume, while the beef-eating population re- ceives large accessions annually.
 Some five years ago when the duty was taken of meats and live stock, that measure was announced as an insurance of cheaper meats. While the war may have been an adverse in- fluence, those who propounded the free trade remedy miscalculated, to say the least. Mexico is furnishing the United States neither stock cattle nor beef, and Canada is having diff culty in supplying domestic require ments. Drouth in Argentina and Australia has greatly restricted beef production in those areas. Brazil was advertised as new source of supply recently, but has not risen to the oc- casion.
 A broad view of the situation and the prospect warrants the assertion that cheaper beef is not possible. Present feeding conditions would be materially alleviated by one good crop season, but cattle are not made in few months, and the prospect of the breeder is all that could be desired. During the coming summer and fall fat cattle must command good prices, as liquidation of the last three months has made a serious draft on visible supply, and the most severe winter in the Northwest for thirty years means short and late run of beef from that quarter. Regardless of peace or war, the signs are optimistic, domestic production not being equal to home demand. Peace in Europe does not mean cheap meats, as a worlds short age exists and years will be required to remedy it.
 THE PRODUCER IS THE PATRIOT