The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-10-03
$4,000 IS LOST
BY ONE SELLER
At indianapolis
Lowest Price Since 1917 is
Recorded in Hogs at Capital
Market.
By WILLIAM r. SANBORN

oy WILLIAM 0HNoohIN
What has happened to hogs? What
logical reason can be given for the
change in sentiment at the packing
centers, to cause such disastrous
breaks in prices within week? Con-
slider top Of $1S.25 for light butchers
at Chicago a week ago. against $1635
on Thursday. with heavies at $15.75
for top and heavy mixed packers rang
ing at from $3.50 to S14.50. Rough
packing hogs sold as low as $13, and
the. bottom on pigs, weighing from
100 to 125 pounds, was $3.50, with
a top early in the day Of $500, on
Thursday.
One can only grasp the full effect
of the recent decline when it is stated
that hogs sold at the lowest price
quoted since July. 1917, at the low
time on Thursday. While the top on
fancy butchers was $685., the average
for the day was but s15.15, with the
bulk OF sales going at s14 to SIG. Com
pared with a year ago on same date
hogs showed a loss Of S305 from top
and still greater decline on bulk of
sales for the day.
But compared with a week ago hogs
averaged $1.55 lower on Thursday.
$3.50 below the average on same day
in 1918. and $7.55 below the record
average early in the summer.
Hogs OF s7.55.
The fact that we have had a IN
cent break since last spring means
heavy losses to farmers and shippers.
The hogs bought as feeders that have
been finished on 50 corn are not pay
ing out at present prices, and 81 has
been low for corn in Indiana for al
most a year.
Farmers with plenty Of corn Of their
own growing, and with hogs bred on
the place. are in far different posi-
ton. 1t is lucky, too, for feeders, that
new corn is at a much lower level
though admittedly this Is not so much
of a consolation to men who have
large surplus of corn to sell.
The average man Is not raising
hogs. the country over, nor Is he in
terested so much in the price Of corn
as in that Of cornmeal and the various
breakfast foods into which corn en-
tiers. He has been paying almost pro-
hibitive prices for bacon and stinting
in its use, and so will acclaim the drop
in the price Of hogs and carefully
WATCH tHS ellSCL Oll lSldll pl1CCS VI
pork and lard.
Cattle Are Advancing.
Despite the recent decline in hogs,
cattle have been ranging strong and
higher, the bulk Of receipts at western
points being 25 cents higher on Thurs
day, as compared with Wednesdays
range The top was advanced to
1885. Some Chicago packers paid
that figure for yearlings, and there is
talk Of still higher prices for good
cattle, regardless Of the slump in
hogs.
A short time since hogs were sell
ing at $3.50 and IS higher than cattle.
Today the position Is reversed-cattle
are 50 to 1926 the highest on the
markets, generally.
Sheep have also advanced while
hogs declined. Lambs sold as high as
SIG In Chicago, the bulk Of lambs 60
ing at So up for butchers use. This
advance did not affect feeders and
ewes materially, ewes selling at $3.50
for culls to $3.50 for best, on Thurs
day.
The Break at indianapolis.
There has been a drop Of about IS at
indianapolis in the price of hogs with
IN a month, one dollar of this being
taken off at the low on Thursday. 1t
IL said that one feeder was forced to
accept SIS, 900 less than the same kind
and number of hogs would nave
brought on July Oath, when the record
price of $23.50 was reached at Indian
apolis. The top price at indianapolis
ia now $4.75 below the top of the same
week in September.
One OF the factors In the decline 1s
the public insistance that he cost OF
living be lowered. and particularly as
to all meats and fats. There IS also
some apprehension Of embargoes on
shipments to some Of the European
countries, though there would seem to
be no real basis for this. as yet.
But the tendency has been to curtail
speculation in stock yards products
by large traders and exporters, and
this is doubtless responsible, In part
for lack of support to the animal on
the hoof. Another factor is the heavy
stocks OF meats in cold storage and
The rather small demand experienced
curing the warm summer days.
The receipts of hogs at Indianapolis
on Friday was estimated at 1000, and
quoted steady TO stronger, bulk OF
early sales going at $l5.75, with pigs
at from $1450 down. Early western
sales were on a shade better basis on
the run of hogs.