The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-01-19
BELIEVE Low POINT
IS REACHED ON HOGS;
STOCK IS DECREASING
BY WILLIAM r. sANeoRN

BY WILLIAM r. SAN6oRN
Many well informed live stock ship
pers and spectators now believe that
the low point on hogs has been I'M
covered. and this for months to come.
inls sentiment was voiced freely dur
Ing the break in hogs and cattle last
week, and the action at Chicago on
last Saturday, and again on Monday,
when there were $4,000 fresh hogs in
the pens, indicate that these optimists
may be standing on solid ground.
After slow and lower opening on
Monday. and in spite of the fact that
both Armour and Swift, refused to bid
for hogs until nearly 2 o'clock, hogs
advanced as much as 20 cents over
Saturdays figures, the bulk of sales
going at 1925 to 1915, with Swift
bidding $3.50 for light bacon weights
as soon as he went into action.
We submit that these prices cannot
be called "ruinous," except by COM
parison with the palmy days, in view
OF present prices of corn and feed
stuffs. We are not forgetting, how
ever, that these hogs were mostly de-
vourers of goodly percentage of 81
corn. but were certainly finished on
much lower cost grain.
An Editorial Prophet.
Prophets are not only scarce but
have hard road to travel just now.
In fact propheseying has been rath-
er poor business for long time, still,
the editor of Rosenbaum's Review
suggests that this is an opportune time
to buy pork and to lay in a stock of
hams. He also believes that corn will
again sell at 81 and up during the
coming summer.
Lacking space to give his reasons
for his faith we are bound to admit
that this editor is one of the best in
formed men in the Chicago whirlpool,
and is entirely familiar with world
marketing conditions.
Decreased Live Stock.
Crop reporter Snow, of Chicago, in
forms Bartlett-Frazier, for whom he
conducted the survey, that there were
$4,000 fewer hogs on our farms on
Jan. l, than on same date in 1920. He
also found that the decrease in the
strictly hog growing states is about
100000, or IS percent under last
January's showing in corn belt terri
tory.
While Mr.. Snow gives no totals. but
simply percentages, a comparison of
LIS Will Oul SoNSl lie
ures for January, 1920, indicates that
we now have 64.77O,O00 hogs, against
100000 head one year ago; this
We are also short 100000 beef cat
tie: 100000 mich cows and 3,650,000
sheep. compared with last year
These figures indicate a shrinkage
of 81 percent in beef cattle, 3 percent
in our dairy stock and of II percent
in our supply of mutton and wool for
the current year, or until farmers
shall reduce their sales and increase
their herds and flocks
Comparison Of Prices.
Regardless of being odious 'compar-
isons are usually instructive and may
be depended on to furnish food for
thought and material for an argument.
The price comparisons we are now to
make have caused a thousand argu-
ments. to which we shall attempt no
additions. the facts adduced being suf-
ficient for our present purpose
Compared with the first week of the
year cattle at $3.50 showed a loss OF
Is cents; hogs at 1925 were off As
cents: lambs at 81 were 20 cents
lower. while sheep at $3.50 actually
showed a gain of S5 cents per hun
dred pounds, Tor me week. neSe
were the combined average prices
covering the highs and lows of the
six-day range, ending Jan. 10.
Compared With 1920.
Taking backward glance to the sec.
ond week in January. 1920. we find
that cattle averaged $14; hogs $14.s5:
sheep S1125 and lambs $500 at Chi
cago. and were on a relative basis in
all other markets, both East and
West 1t is worth while noting that
the average" price of cattle in the
IA principal markets, last week, was
the lowest quoted since April 1916.
The receipts of hogs at Chicago foI
the week ending Jan. Is, were $4,000
in excess of the past 1O-year average
for that week. the total being 250,3oC
head. 1t is also a fact that the re
ceipts of hogs at the seven western
markets were $4,000 larger IMAM loi
the first week of the new year.
i