The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-08-21
GRAIN, HOGS DECLINE;
CATTLE AND SHEEP
SEEK HIGHER LEVELS
Nv w1LLIAu R. sAHBoRN

An analysis of the trade in hog pro-
ducts for the past month shows that
the trade has been normal for the
season. Strange to state, domestic
consumption has not been affected by
labor strikes and mas maintained
good average for the season. The ex-
port trade has been fair and in addl-
ton a great deal of produce is being
consigned abroad for distribution as
ing as needed.
is in fair shape all round and in spite
of the rocky markets for hogs last
week there was a price gain OF 20
cents on an average for all classes and
weights at Chicago. But this little
net average gain was of no practical
importance as hogs finished the week
at the lowest price since last January,
although the average of $8.75 for the
entire week was up 25 cents, compar-
ed with an average of $3.50 for the
week ending on August II. The hog
average for Saturday, however. was
but $50; top $9.65.
To the contrary cattle values at Chi
cago last Saturday were the highest
of the year; prime steers ranging from
5000 to top of $10.95. The average
of the week also moved up to $3.50,
against 1855 for the previous week.
The receipts of hogs at all markets
have been running heavy for the sea-
son. The total for the week at Chi
cago running 10000 over the f0-yea-
average, there being $4,000 hogs at
Chicago alone last week and n total
of 100000 at II western markets.
The average price on sheep last
week was $3.50 and on lambs, $12 al
Chicago this showing gains over the
preceding week of 25 cents and As
cents respectively in that market.
The Grain Markets.
For the first time in long period
both cash and future wheat dropped
below 81 last week at Chicago. And
as goes Chicago, so goes the country
as market report readers are well
aware. This is a depressing situa
ton to wheat growers, and not alone
to him, but to the country in general
as the entire spring wheat crop Is
yet to be moved.
The higher the prices received by
the farmer, the greater the amount OF
money put into general circulation fol-
the public good. On the other hand
the price of bread remains high, re
CARELESS of the fact that farmers are
selling wheat at a loss. One farmer
who discussed present low wheat
prices in this office last week remark
ed that: eff we farmers gave ouI
wheat to the millers, l doubt that we
could get cheaper bread at retail, al
least it seems that way to me-"
This reminded us of what leading
clothing manufacturer gave out fol
publication when clothing was at the
peak, when he said I'VE take little
account of the amount of wool in q
suit, for if we got the wool for nothing
we couldn't cut the cost of clothes
now; its the labor and overhead which
counts"
Review of Prices.
A review of the price range fol
wheat last week shows that Septem
Der ranged at 9Sa4 for low after max
ing high of $1.043s on Monday. Corr
for September delivery ranged at sly
! to 62A, while December corn ranged
| as low as SIS and up to IS cents dur
| ing the week. Oats moved in a mar
/ row range but sold down to 301s a.
| the low on the week for the Septem
Der option, closing at 301a on Satur
day. September oats sold up to 4614
at the high on the season, this show
| ing full so percent break from tina
| point
| Sentiment as to future grain prices
! IS badly mixed, many saying every
thing is low enough and a rise is due
, Others maintain that the movement o.
! spring wheat will check an early ad
/ vance and may result in still lower
! prices.