Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-12-14
CHICAGO STOCK
MARKET HIT BY
HEAVY SUPPLY
Overcrowding Responsible for
Latest Downward
Trend.

In a review of the livestock market
broadcast Wednesday by the Montana
Farmer from The Tribune's radio
station, kDYS, it was stated that aft
er a temporary upturn as q result Of
lighter receipts from the range and
less pressure from short-fed and
warmed-up cattle, the market has
turned downward again, especially at
Chicago, where the supply has been
unusually heavy due to shippers trying
to get a free ride to the Information
al. Steers gained 30 to 70 cents on
the rise and cows and heifers nearly
half that amount, but part of it, has
again been lost. Veal calves scored a |
pronounced upturn of rs cents to 81.
THE behavior of prices shows"
says the review, that demand for beef
is broad and indicates that overcrowd-
ing the market rather than diversion
of consumer to other meats is respon-
sihle for the present trend. The mar
ket remains in a vulnerable position
and excessive run will be punished.
Furthermore it will be a departure
from past experience if the supply Of
short-feds is not heavy during Janu-
airy so that prices will do remarkably
well to retain this level while the pres
sure is On.
Purchases of stocker and feeder
cattle have fallen off about % per
cent in the last six weeks, but are
this season. Prices are at practically
the lowest point of the season. They
are not apt to become cheaper with
western range receipts dwindling rap
idly.
Lambs Hit $3.50
lamb prices reached $3.50 at
Chicago last week, a new high point
for the season, as a result Of the
lghtest run at seven markets since
July. Eastern shippers were a prom
nent factor in forcing the advance. AS
the trend of receipts during December
and January normally is downward, an
advance to SIG or better will not oc-
casion surprise. Demand for feeder
lambs has fallen off about 35 per cent
in the last six weeks, but receipts from
the range are quite limited and buyers
do not find it easy to supply their
wants.
I'm the first 10 months of 1922, ap-
proximately 644,0 900 pounds of
wool were consumed by American mills
compared with 2 100000 pounds in
the corresponding period of 1921,
o~@O,Vop'VOO pouutNS Two years ago,
J02, 100000 pounds 8 years ago and
600, 100000 pounds in 1918 when or
ders were a prominent factor.
Mills show resistance to further
advances in prices, but values have not
The London auction main
tains the opening advance on medium
and low cross breds and Geelong.
Wellington and South American mar
kets are active and strong. The Tex
as woods have practically all been sold
leaving very little wool in the
hands Of growers in the United States.
Wheat Strong
In the first % weeks of the crop
year, primary receipts Of wheat were
251 $4,000 bushels compared with
262, 34S 900 bushels last year and a
10-year average of 223,44O,O 900 bush
els. In that period approximately
1877, 900 900 bushels were exported,
compared with 1S1,145-0O0 bushels
last year and a 10-year average of 49,
246 1000 bushels. Domestic distribu-
ton amounted TO 9S,S71, 900 bushels
41,501 900 bushels last year
and a 10-year average of S3,245, 900
bushels. Thus far both domestic con-
sumption and exports have been above
the 10-year average and the increase
ia tStiNSNN ~ IA VAIL I
last year has more than counterba1-
the decline in exports.
1.-THE wheat market is in an uncer-
tain state with no definite trend. Pri-
mary receipts are holding up well,
the domestic milling demand has
dull although mills are still
at a high rate on old orders.
Moderate weather has delayed the
of lake navigation and permitted
a heavy movement to eastern lake
ports in the last 10 days while large
quantities have been cleared for Eu-
A large increase in the Can
adam visible supply will show up
when these lake shipments reach des-
'1Thn supply on ocean passage has
increased as a result of large clear
lnces and foreign interests seem dis
to take a waiting attitude as
ONE of this wheat afloat Is unsold and
Argentina is offering for forward ship
nent at a discount below North Amer
can. The market is apt to drag more
,r less while the Argentine pressure
s on but no serious decline seems
Reports continue to indi-
ate some deterioration in Argentina,
,ut prices have not been affected
much by this development"
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