Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-11-30
TRANSITION STACES In CATTLE
MARKET CAUSE SHARP SHIFTS
Fall Cleanup Well Advanced at Many Points;
Flood Of Shortfeds Hits Chicago
Stockyards

Transition stages in the cattle mar
ket brought about a decidedly uneven
trend in prices Iasr week, it was stated
Wednesday in u market review broad
cast by the service Of the Montana
Farmer, published III Great Falls. The
Farmer ~broadeasts a weekly summary
of market news through The Tribune's
station, KpES.
The fall cleanup is far along at
some points. bat at others it Is at its
height. The proportion of low grades
and pasture odds and ends rushed IN
ahead Of cold weather varied accord.
ingly. At Chicago another flood OF
shortfeds arrived and the supply OF ali
classes was the largest in two years.
Well finished sorts were the scarcest
Of the season and another load sold
at 1880. equaling the previous hlgh
mark Of the year. but cattle fed only
90 to so days lost - TO 40 cents. Beef
cows and heifers were weaker except
for those in high finish. Veal calves
declined 50 to Is cents with competition
from poultry a factor.
western rangers evidently were de-
layed by the ear shortage, as the run
is holding up later than usual. The
proverbiai habit of the western cattle
industry to come back" after a period
OF disaster is indicated by receipts Of
2:34, 500 head at Chicago up to Novem-
Der q. compared with 135 900 head to
1.-THE same date in 1921, and 100000 head
two years ago.
"At present the market is deluged
with partly finished cattle. while prime
steers are rare, hence the abnormal
a-.ooJ nror,r +nmafhar nf tho two
ends Of the price list is probable IN
the next three months. But litVe
benefit can come from holding lo1gfed
steers at this stage. but cattle that
have been merely started on feed will
not sell well now.
Conditions still point to a big run
Of half fat steers in January. when
those who do not feed regularly are
ant to come back to market. The gen
eral level of prices will remain fairly
high. but the tone is apt to be weak
until the winter l%iquidating period is
| over. Dressed beef trade is in fairly
good shape. but shows occasional signs
of Indigestion.
Hog Prices Nearing Bottom
action Of the hog market indicates
that prices are nearing bottom, although
the low point for the winter may not
vet have been touched. On every dip
big packers buy freely, current prices
for hogs and produce seem to be af-
fording a profit to the killer. eastern
shipping demand is picking up in the
middle west and a run of 100000 head
at the IL leading markets last week.
which was an increase of 100000 head
over the preceding week. was absorbed
at a minor decline. The daily average
at Chicago has dropped below So. but
demand promises TO become increasingly
active on each decline from the level.
THE overseas movement is running
heavier than last year and stocks abroad
are light. England is buying hog meats
and the continent shows great interest
in the lard market. Domestic con-
sumption in September was the largest
in nearly two years. Accumulation of
product had not begun at Chicago up
to the middle of November and this
presumably is representative of condi-
tons elsewhere. Stocks of lard are un-
usually low and other hog products re-
serves are below the average.
Average weights are running higher
than in any recent yea and about 81
per cent above the average, pointing to
the generous use of feed during the
summer and early fall and possibly to
holding hogs back q little longer than
usual.
The wool market is quiet, but prices
are firm and the trend is upward.
Transactions have been confined mostly
to Texas fall shorn woods. which are
now moving at a high level. There
are rumors of attempts to contract next
springs clip in the west, but no actual
deals have been reported. Foreign
auctions show an upward trend.
The holdings in the hands Of the
British Australian Wool Realization
association on October 81, comprises
1.O34.O0O bales, a reduction of 1885,
900 in the past year and $4,000 bales
in the two preceding months.
Advance in Wheat Checked
THE advance in the wheat market
which has progressed ~irregularly for
five weeks has been checked in the last
few days. Although milling demand
in the northwest continues brisk, at
southwestern points it has subsidized
noticeably. Some export business is
under way practically all of the time,
mostly in Manitoba wheat, but there is
no special urgency TO the foreign de-
mand.
Further let-up in the demand for
flour will not be surprising during the |
next month. owing W tHt dppIodGu OIL
inventory time. Flour production BY
mills since July / has been nearly as
heavy as in the corresponding period
a year ago. Since exports have been
smaller than last year, 1t is evident |
that invisible reserves have been built
up more or less, although there prob
ably has been some increase in actual
consumption.
Primary receipts are running prac-
t%ically equal to the fall average for
this season of the year. They can be