The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-10-20
STOCK MARKET
FLUCTUATIONS
DISC0URACINC
Situation Looks Good for Ulti-
mate Consumer, But Bad for
Farmer.
BY WILLIAM r. SANsORN

BY WILLIAM p. SANBORN
A review OF last weeks fluctuations
at the live stock centers, presents
rather discouraging aspect to farmers
and shippers, who have been fatteIing
on high priced feeds in anticipation
OF better prices during the fail months.
The decline has been SO unexpected
and so precipitate that feeders have
almost lost their bearings and, in
some instances, their nerve, and are
letting go, regardless, just when, they
most likely. should be holding on.
At the present low average level
for cattle and hogs, and with cooler
weather, consumption of meats should
largely increase, for certain it is, that
many have stinted in their outlay for
meats, both on account Of high cost
and because Of weather conditions for
several months. This is especially
true as to fresh beef and por, which
are largely cold weather foods.
The fact that new corn is ever SO
much lower than recent prices on the
old crop, is of little benefit. right now.
All feeding combinations, though some
lower are still relatively high, com
pared with new corn, and the animals
now being marketed were fed on the
very highest priced feeds.
This is particularly true as to FIN
ished" cattle, and that these have ad-
vanced in price during a general de
cline is an evidence Of scarcity OF
prime stock. But regardless of this
fact. the receipts of cattle at Chi
cago last Monday, $1,000 head. were
the largest Of any day since early last
January.
So few prime steers were in the
offering, however, that these advanced
to S1s.75 on Monday, and reached
S19.40 for top on Saturday, in the
face OF a decline for the average
run Of cattle during the week.
indianapolis Pays $3.50.
The top on prime steers at lndi-
annapolis last Saturday was $3.50, or
10 cents over the Chicago top, with
choice steers bringing from $18 up.
Medium and good sold at from SIS to
$3.50, even for stuff under 100
pounds, for steers, while common sold
at 81 to $11.50; heiters ranged at 81
to $14.25. as to quality, and cows at
81 to $1150.
The top on hogs at Indianapolis last
week follows: Monday and Tuesday,
$3.50; Wednesday. SASS; Thursday,
S14.50; Friday, S14.6O, and on Satur-
sold mostly at $14, a decline of 35
cents from Fridays figures. Scarcity
of cars for shippers use helped in the
Saturday decline, and receipts were
liberal.
A moderate demand for feeding cat
tie at indianapolis Saturday steadied
prices somewhat, also the fact that
two packers were in the market for
a lot. Little really prime stock was
on sale, and inferior stuff sold very
close TO the bottom Of the year. thus
making a very wide spread in quota
tions.
Corn and Hog Prices.
Hogs at Chicago made a top of
$3.50 last Monday, and struck s15.15
Thursday the top was $149O. on Fri
day, S15.05, and on Saturday the bulk
of sales ran between $13 80 and Sl4 81
with a top of $14.S0 for some choice
selections.
The prices paid for corn and oats
in Chicago, from day to day, are now
largely speculative, and affected By
trading conditions and bull and beal
positions The spectators are playing
ball with these grains and almost any
thing is likely to happen to prices
Last week the bulls ran the bears t
cover and Saturday saw the highes
prices for the week.
Corn gained 2l2c on Saturday, De
cember closing at S12613 at Chicago
at $1.274 at St. Louis, and at S1.2G !.
at Kansas city. Corn options 70
next May delivery ranged 2 cents pc
bushel lower in all markets, which
gives one an idea OF present predic
tons on the new crop, made by lead
ing elevator interests, though they ar
predicting S100 corn long before May
but like the rest Of us they can onl
guess. December oats ranged at fro1
Il cents to 70 cents in western mai
kets at the week end, with the Ma
option somewhat higher.
Glen Miller Receips
Including % carloads on throug
billing, 50 cars of live stock were hal
died through the Glen Miller yard
last week. at an estimate value {
$4,000. The live stock yarded her
in transit is unloaded. fed and waite
ed, and this is done as eXpeditiOusl
as at any point on the Pennsylcan!
system, owing to the many eNtenSi On
and improvements made at the yard
during the past summer.
Owing to the difficulty in seCurin
sufficient cars for loading. a gree
many hogs were held back in III
country last week, according to Rom