Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1921-10-24
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CHICAGO MARKETS



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Chicago. Oct. 24.-What amounts tt
a radical change in cattle trade cOndi
lions has developed almost insensibly
recently. In the first place country
buying power of considerable breadth
has inserted stout prop under the
price list: secondly diminishing pro
portion of cOrnfeds has injected tone
| into that phase Of the trade. Country
buying has developed insistency and is
coming from all quarters. except such
far eastern sections as Pennsylvania,
Maryland and Virginia which are still
protesting against freight charges. The
corn belt states have been purchasing
freely and although it seems like send
ing coal to Newcastle strings of stock
ers have gone from the primary mar
kets to trans Missouri pastures. those
acquiring them having the reputation
of successful range operation. An in
creasing percentage of fleshy steers has
been taken to go on corn for a short
feed, but country demand still centers
on light cattle. Quality is in better re-
quest than recently, although de-
termination on the part of many feed
ers to get as many cattle as possible
for their money is absorbing lower
grades OF cattle, the result being an
assortment in finiShers hands instead
of the solid phalanX of ponderous
steers that went out last fall.
Prospects Good.
Purchasing of stock cattleby western
range admits of but one Interpretation
they have reached the conclusion that
depreciation has run it's course and
that values must either remain sta
tionary or work higher. So far as the
feeder is concerned the winter and
spring prospect is far more promising
than a year ago. probability existing
that cattle laid in at recent and cur
rent prices will show profit. Stock
ers and feeders have been acquired at
the lowest prices in many years and
cost of making gains has been reduced
AS lighter cattle have
been laid in larger number will he
needed to go around and statistics will
show at the end of the season that the
has been less than a year
ago. At this time in 1920 the country
was acquiring cattle for winter feed
ing: so far this season a large proper
ton Of the purchase has been with the
intention of winter roughing with the
object of avoiding high stocker mar
<et next spring.
The heavy movement of grassers
rom the southwest is still in full
swing. but cannot last long. and recent
advises from the Northwest demon ,
,trate that there will be only a mod
crate run of late beef from that quar-
ter. This will create a place at the
market for shOrtfed cattle as the beef
market is picking up and is likely
% develop the usual activity that comes
With the cold weather. The threat
med rail strike is Il menace not only
% the live stock but all other indus
ries.
Wormy corn that can only be sal
aged by feeding has undoubtedly been
IN incentive to cattle buying recently.
nut the fact is realized that the corn
market is in bad way and that con-
,ersion into beef, pork and mutton will
,e the only alternative Of the grower.
There is always a cash market for
i've stock while the outlook for coarse
ains is dubious. The whole country |
S long on feed cattle and sheep have |
,een Inundated until the limit would
,ppear to have been reached. Over
most of the western country IA gigantic
restocking task has been created which
will require years of effort and the
Investment of millions.
Improvement in the financial situa-
ion so far as live stock is concerned. is
lue in a measure to loans made recent
V by the War Finance Corporation.
which has made substantial allOtments
o cattle and sheep growers. Incl
lentally thawing frozen credits and en-
,bling banks to take new live paper.
Following these allotments several
extensive Western cattle operators ap-
feared in the markets creating a |
psychological condition of decided adj
.antage to the trade not TO speak OF
he cattle they took. Once the fact is
established that depreciation has run
Is course confidence will he reestab-
ished. A few weeks hence it is prob |
,ble that those who refused to con-
;idcr cattle or sheep good investment
It the bottom of the decline will enter
he market at substantially higher
nices
Under moderate receipts the hog