The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-04-05
THERE'S A HEAP OF
TROUBLE ON FARMERS
MIND; MARKETS VEER
BY WILLIAM r. sANeoRN

If you are sufficiently ripe In years
to remember that old-time and once
popular song, There's a Heap OF
Trouble on the Old Mans Mind" you
can still sing 1t with conviction. Just
make it farmers Mind" be he old
or young, and you are all set and
tuned up.
The latest addition to the farmers
load Is general export embargo, be-
on the eastern seaboard. This Will
prevent the driblets of export meats
from reaching the coast; also add to
our accumulaions Of lard.
The natural tendency of this condi-
ton will be to keep the price OF hogs
and cattle from advancing, and may
even lower present values, which are
none too firm, from the shippers
viewpoint Every little bulge has been
followed by a decline, of late.
Chicago has just had strike OF 900
yardmen at the Union Stock Yards,
which held up all live stock shipments
for three days, and now 1000 or more
switchmen and railway yard employees
have gone out, tieing up a number Of
the Chicago roads. Officials of the
Yardmen's union are, at this writing,
insisting that unless the demands OF
the strikers are met that general
strike Of all the members in the Chi
cago district will be called.
Grain Still Advancing.
But regardless of the market on
cattle and hogs grain continues to ad-
vance. Corn, oats and rye have all
reached new high levels. May corn is
now at the highest point since July,
1919. at s1.G4. with July corn at $1.58
and September at 1854
The stocks of corn and oats are so
light at central markets. and the
chances so slim for heavy arrivals to
fill May contracts. that the shorts arc
nervous, fearing runaway market.
Both rye and barley are classed with
feeding stuffs, and each of these are
at the highest in months, we selling
at S1.S82 on Saturday. nber 2
yellow corn sold as high S173 on
track in Chicago on Saturday, with
No. l white oats at $1.011a from ele-
yators, and any fair quality article
bringing 81 or better.
All wartime restrictions on -four
have been lifted, and this is counted
as bullish factor, because it allows
wide open speculation in the staff Of
life. There are two sides to this, how
ever for an open market invites and
fosters competition and the interior
mills, which are fighting for business,
may possibly shade prices in order to
Dopularize and broaden the demand
for their private brands.
The Speculative Markets
So far as the speculative grain mar
kets are concerned, very few outsid
ers are supposedly now in the deal
and it is the professionals who are
1ov, oSv IN +1n p,1t
not alter the fact that all feeds are
firmly held, entirely regardless of the
prices paid for cattle, sheep and hogs
and that feeders are uncertain wheth
er they are afoot or on horseback.
1t is a market fact that grain is
working in an entirely Independent
groove and no longer bears the close
relation to the prices paid for live
stock, that formerly brought these
values to somewhat Of balance, av
eraging the months and years, except
during few days now and then
when corners eliminated, either il
May or December.
General Live Stock Prices
About 300 cars Of live stock arrived
at Chicago on Friday. after the strike
of yard employees was called off, ano
the fact that 900 cars were expected
led to some lively bidding for every
thing on offer. This led to the high
est average price on hogs since Janu
airy 27. the bulk of sales ranging a
from $14.75 to $500, with a top o
$1615 on light butchers, hogs weigh
ing from 100 to 230 pounds.
These prices were maintained OF
Saturday. One packer paid $1,000 fo
700 head, against a price of $50
just one week earlier. The days av
erage price was $3.50. At the week