Evening star., 1924-08-19
live STOCK men
FACE THIN PROFITS
Demand for Cattle Lighter,
While Cost of Feed Is
Steadily Mounting.
BY J. C. ROYLE.

Special Dispatch to The Star.
NEW YORK. August 19.-Experts
now figure that the average Ameri-
can farmer is 5000 better of than
he was two years ago. but in casting
ahead over the situation they are
not so optimistic as to the profits
from livestock except hogs A spe-
cial study Of the situation resulting
from the recent changes in price of
farm products leads these men to
predict that the cattle grower may
not find the next IL months as profit
able as the last.
Raising of live stock. except hogs.
seems to have changed places with
grain raising. for long the unprofit-
able end of farming. Since 1921 re-
turns from the sale of live stock were
more attractive than those from the
sale of grain. This stimulated stock
raising. but now the prospect Of an
extremely short corn crop and the
sympathetic effect of the advance in
wheat and rye because of changed
world conditions has tended to lift
values of all stock feed.
Beef steers Lower.
"At present. hog prices at Chicago
are about $2.35 per 100 pounds higher
than a year ago." says a report Of the
Sears-Roebuck Agricultural Foundation.
which has just completed a survey;
"fat lambs are about IS cents higher,
fresh eggs are 4 cents dozen higher
and fat hens cents a pound above
the August, 1928. level.
Beef steers. on the other hand, are
about 81 a hundred poundslower than at
this time last year, veal calves are
$3.50 down, wool is to cents lower,
butter has declined cents a pound,
nd
price of fluid milk for city supply
throughout the United States is about
10 cents a hundred pounds lower.
"While the relative position OF feed,
live stock and live stock products Will
not continue precisely the same
throughout the year, the underlying
conditions are such that there 1t little
chance of a return to a ration more
favorable to the live stock producer.
Hog Prices Favorable.
Hog prices make favorable
showing because the cycle OF produc-
ton in hogs is shorter. Hog grow
ers responded so quickly to the
nrof,tabIe price ratio compared with
corn in 1921 and 1922 that too many
were available for market in 1873
and early 1924. AS hog prices drop
ped to an Improbable level, curtail-
ment of production took place and
market receipts for the next IL
months should be down to normal.
Reports of the Department of Agrl-
culture show reduction OF 1l,ou0'-
900 head or nearly 20 per cent in the
1924 corn belt pig crop. Thus hogs
should yield a more satisfactory re-
turn in the next year in spite OF high
corn prices.
Returns to sheep men should be
fairly satisfactory. Higher prices for
fat lambs offset the lower prices for
wool and lamb prices have been so
high in comparison with feed costs
that advances in grain have not
wiped out the margin of profit. Sheep
production is on the upgrade, but the
number of sheep had dropped so low
that expansion thus far has had lit
tie effect on prices. At present more
lambs are going on feed than usual.
Poorer Demand for Cattle.
Lower prices for cattle seem due
to falling off in demand rather
than to excess of supply. High corn
prices have discouraged cattle feed
ing and the number of thin steers
taken to the country from leading
markets for fattening has been small
er than usual However, the larger
movement does not take place until
September, October and November.
This will determine the number of
fat cattle that will be marketed next
Winter and Spring. and have bear
ing on the prices they will bring.
The range cattle man has been in
distress for three years and some
further liquidation is expected from
ranges this year, but the Summer
rains are providing a large amount
of cheap feed and the worst seems
to be over for the range growers"
Experts figure that the rise in hog
values has added about So head to
the ten million hogs now near the
finishing stage and $3.50 a head to
the appraisal value of the 100000
Spring pigS.